FX

The Greenback overturns intraday losses and is set to flip in the green.  Fed Chairman Jerome Powell surprised markets by casting doubts over December’s interest-rate cut.  The US Dollar index surges back to the fresh one-year high from Thursday.  The US Dollar (USD) sees earlier declines soften a bit on Friday with US Retail Sales

The gold price trades with a negative bias in Friday’s Asian session.  The firmer USD, expectation of a slower pace of Fed rate cuts, exert selling pressure on the Gold price.  The US Retail Sales report for October will take center stage later on Friday.  The Gold price (XAU/USD) struggles to gain ground around $2,570

The Trump trades in the green, trying to secure a fifth day of gains.  Traders are on edge over Fed Chairman Powell and his view on the interest rate cut in December. The US Dollar index jumped to a fresh year-to-date high  around 107.00 and fades before hitting a fresh yearly high. The US Dollar

Silver remains under some selling pressure on Thursday and retests October’s swing low.  The technical setup favors bearish traders and supports prospects for additional losses. Any attempted recovery could still be seen as a selling opportunity and remain capped. Silver (XAG/USD) attracts some follow-through selling during the Asian session on Thursday and drops to its

The Pound Sterling trades with caution near a three-month low of around 1.2750 against the US Dollar as investors brace for US inflation data for October. Market expectations for the Fed to cut interest rates in December have slightly diminished. Investors await BoE Mann’s speech and a slew of Fed speakers for fresh interest rate guidance.

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The Gold price came under pressure in the immediate aftermath of Donald Trump’s election victory and, with a decline of almost 2%, recorded its largest weekly loss since the end of May, Commerzbank’s commodity analyst Carsten Fritsch notes. Gold price continues to fall “Yesterday, the price fell sharply again and continues to fall today. In

The Australian Dollar loses ground amid concerns over potential tariffs on Chinese goods from US President-Elect Donald Trump. Australia’s Westpac Consumer Confidence index increased by 5.3% in November, reaching 94.6 points. Traders await the US Consumer Price Index data release on Wednesday for insights into future US policy. The Australian Dollar (AUD) extends its losses

The Mexican Peso weakens on rumors Donald Trump has offered the job of trade representative to Robert Lighthizer.  The former US trade rep is known for his protectionist stance and could squeeze Mexico in future talks.   The Peso is further weighed by concerns the Republicans will win a majority in Congress, giving them a “clean

EUR/USD remains under pressure as the US Dollar appreciates amid likelihood of Trump increasing import tariffs and reducing corporate taxes. Trump’s fiscal policies could heighten inflation risks, potentially prompting the Fed to adopt a more restrictive monetary policy stance. German Chancellor Olaf Scholz dissolved the ruling coalition, leading to new elections to restore stability amid political uncertainty. The

The Canadian Dollar shed 0.4% against the Greenback on Friday. Canada saw a worse-than-expected print in net new jobs additions in October. Average Canadian wages also rose, maintaining upward pressure on inflation expectations. The Canadian Dollar flubbed a near-term technical recovery on Friday, slumping back into familiar lows against the Greenback. The Loonie remains under

The NZD/USD got rejected by the 20-day SMA by the fourth time this week. Technical indicators point to increasing selling pressure and decreasing buying pressure. A breakout from the 0.5940-0.6030 range will confirm a bearish outlook. In Friday’s session, the NZD/USD declined by 1.05% to 0.5960, continuing its downward trend as the pair got rejected by

AUD/USD falls as the USD regains strength. RBA holds rates steady but remains hawkish, citing inflation risks. The Fed’s neutral outlook suggests caution regarding future rate cuts. The AUD/USD pair declined by 1.25% to 0.6600 on Friday, continuing its downtrend. The renewed strength of the US Dollar weighs on the pair despite improved risk sentiment.

US Dollar rises after UoM positive data. Consumer confidence improves, inflation expectations were mixed. FOMC cuts rates by 25 bps, economic growth remains solid. The US Dollar Index (DXY), which measures the value of the USD against a basket of six currencies, rose on Friday. This comes after positive University of Michigan data and the

Saudi Arabia, the world’s largest oil exporter, cut its official selling prices (OSPs) for oil deliveries to Asia in December, indicating weaker oil demand, Commerzbank’s commodity analyst Barbara Lambrecht notes. Iranian oil becomes more expensive “Accordingly, Asian buyers will have to pay a premium of only $1.7 per barrel for Arab Light compared to the

NZD/USD softens to around 0.6020 in Friday’s early Asian session.  The 25 basis points (bps) rate cut by the Fed on Thursday was widely expected. Donald Trump’s proposals to raise tariffs could drag the Kiwi lower against the USD.  The NZD/USD pair trades with a mild negative bias near 0.6020 during the early Asian session

Bank of England (BoE) Governor Andrew Bailey explains the decision to lower the policy rate by 25 basis points to 4.75% in November and responds to questions from the press. [embedded content] BoE press conference key quotes “We still need to see services price inflation come down more broadly to keep CPI at 2%.” “Gradual

Australia’s trade surplus decreased to 4,609M MoM in September versus 5,300M expected and 5,644M in the previous reading, according to the latest foreign trade data published by the Australian Bureau of Statistics on Thursday. Further details reveal that Australia’s Exports fell by 4.3% in September from the 0.2% decline seen a month earlier. Meanwhile, Imports fell by 3.1% MoM in September,