FX

Mexican Peso makes a late session recovery, supported by strong Q3 GDP figures and lower mid-month inflation. Concerns linger as Mexico’s legislative changes could impact its status in the USMCA agreement, potentially affecting trade dynamics. Banxico Governor indicates readiness to cut rates further if inflation trends continue downward, influencing Peso’s strength. US economic data, including

Gold prices rally 1.50% on Friday, boosted by a decrease in US 10-year Treasury yields to 4.40%. Escalating geopolitical concerns, including potential expansion of the Russia-Ukraine conflict, fuel demand for Bullion’s safe-haven status. US economic data shows mixed signals; Services and Composite PMIs outperform while Manufacturing PMI remains in contraction. Gold price rallies to a

GBP/USD sinks further following poor performances in key UK economic indicators and rising geopolitical concerns. Technical analysis highlights potential for the pair to test significant supports at 1.2445 and possibly the year-to-date low of 1.2299. RSI indicates oversold conditions, suggesting a heavy bearish pressure but not yet at extreme levels. The Pound Sterling extends its

The Dow Jones gained another 400 points on Friday. After a brief lull, the major index is back into its post-election rally. Investors are pivoting out of the usual tech rally into consumer goods. The Dow Jones Industrial Average (DJIA) has snapped its recent soft patch, extending its midweek bullish pivot into a firm Friday

US S&P Global Composite PMI rose to 55.3 in November’s flash estimate from 54.1 in October, showing that the business activity in the US’ private sector continued to expand at an accelerating pace.  S&P Global Manufacturing PMI improved to 48.8 from 48.5, highlighting an ongoing contraction, while the Services PMI rose to 57 from 55. Assessing the survey’s

Gold price scales higher for the fifth straight day and touches a nearly two-week high on Friday. The worsening Russia-Ukraine conflict continues to drive haven flows toward the XAU/USD. Bets for a less dovish Fed, elevated US bond yields, bullish USD does little to hinder the move up. Gold price (XAU/USD) prolongs its uptrend for

EUR/CAD fell 0.19% on Thursday, hitting 1.4700, the lowest since July 1st. With indicators in deeply oversold territory, the EUR/CAD might consolidate to the upside, but the overall outlook remains negative. The EUR/CAD declined by 0.19% to 1.4700 in Thursday’s session, reaching its lowest level since July 1st. The currency pair has been falling steadily

Gold price attracts buyers for the fourth consecutive day and climbs to over a one-week high. Geopolitical risks stemming from the Russia-Ukraine conflict benefit the safe-haven XAU/USD. Elevated US bond yields underpin the US Dollar and might cap the non-yielding yellow metal. Gold price (XAU/USD) prolongs its weekly uptrend for the fourth straight day and

GBP/NZD channels down during November and reaches support at the 50-day SMA.  This could be a turning point for the pair and lead to a breakout and continuation of the trend higher.  GBP/NZD has been correcting back in a mini channel during November after peaking at the October 30 high. It has now reached support

United Kingdom’s Office for National Statistics is set to publish the CPI report on Wednesday. The annual UK headline CPI inflation is expected to rise in October, with the core figure easing slightly. The UK CPI data could signal a BoE December interest-rate cut pause, fuelling a Pound Sterling sell-off. The United Kingdom’s (UK) Consumer

EUR/GBP rises past the 50-day SMA of 0.8359, setting sights on the 0.8400 resistance. If breached, next key levels include the 100-day SMA at 0.8413, October 31 high of 0.8448. Downside risks remain; a dip below 0.8359 could see consolidation or a retest of the 0.8260 level. The EUR/GBP extended its gains for the fourth

The Australian Dollar holds its position as the RBA Minutes highlight the need for restrictive monetary policy. RBA Board members also emphasized that “nothing can be ruled in or out” regarding future monetary policy adjustments. The US Dollar may appreciate as the incoming Trump administration is expected to prioritize tax cuts and impose higher tariffs. The

The Greenback goes nowhere after a rather soft start in Asia on Monday.  All eyes are on geopolitics after the Biden Administration delivered the green light for Ukraine to use long-range US missiles for targets in Russia.  The US Dollar index holds ground above 106.50 for now while the economic calendar is rather flat for this Monday.

The Australian Dollar recovers its recent losses due to the hawkish RBA. Australia’s 10-year government bond yield eased to near 4.66%, pulling back from a one-year high. The US Dollar may appreciate following hawkish comments from Fed officials. The Australian Dollar (AUD) extends its gains for a second consecutive session on Monday, supported by hawkish

Silver struggles to maintain momentum, hovering near the 100-day SMA at $30.34 with a downward bias. Potential further decline could see silver test key supports at $30.00 and the 200-day SMA at $28.63. A rebound above $31.00 could challenge higher resistances, targeting the 50-day SMA at $31.51 and beyond. Silver’s price fell over 0.70% beneath

NZD/USD pair traded volatile during Friday’s session, clearing all of its daily gains. Pair initially soared to a high around 0.5970 near the 20-day SMA before erasing all the gains towards 0.5850. The RSI signaled that buying pressure recovered as it neared the oversold area with a rise in slope. The NZD/USD saw a volatile

GBP/USD Price Forecast: Stumbles on soft UK data, bears target 1.2600 The Pound Sterling extends its agony and printing losses for the sixth straight day against the Greenback. Soft UK GDP coupled with robust US Retail Sales figures boosted the US Dollar and weighed on GBP/USD, which trades at 1.2636, down 0.22%. Read More… GBP/USD resumes downside bias after release

The USD retreated on Friday after hitting yearly highs near 106.60. The market has responded to Fed Chair Powell’s comments with odds of a December cut falling to 60%. Retail Sales expanded by 0.4% in October vs. the previous month, surpassing expectations. The US Dollar Index (DXY), which measures the value of the USD against