FX

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,

The Pound Sterling plunges against the US Dollar as Trump wins the US presidential elections. Trump’s victory could significantly dent the UK’s economic growth. Investors see the Fed and the BoE cutting interest rates by 25 bps on Thursday. The Pound Sterling (GBP) plummets to near 1.2850 against the US Dollar (USD) in London trading

The Bank of Japan (BoJ) board members shared their views on the monetary policy outlook on Wednesday, per the BoJ Minutes of the September meeting.   Key quotes Rapid decline in market sentiment in August 2024 due to U.S. economic slowdown fears. Japan’s markets particularly volatile due to quick position adjustments. U.S. economy’s future remains unclear, affecting global economic

The Pound Sterling moves higher against the US Dollar with US elections getting underway. Investors expect the Fed and the BoE to cut interest rates by 25 bps on Thursday. Market participants still assess the impact of the UK budget announcements on the country’s inflation outlook. The Pound Sterling (GBP) gains slightly to near 1.2980 against the US

GBP/USD flat lines around 1.2950 in Tuesday’s early Asian session.  The Greenback loses ground in response to improved polling for Democratic candidate Kamala Harris.  The Bank of England is expected to cut interest rates at its November meeting on Thursday.  The GBP/USD pair trades flat near 1.2950 during the early Asian session on Tuesday. Traders will

Pound Sterling surges against US Dollar ahead of US Trump-Harris battle The Pound Sterling (GBP) performs strongly against its major peers at the start of the week, with investors also focusing on the Bank of England’s (BoE) monetary policy decision, which will be announced on Thursday. The BoE is expected to cut interest rates by

Gold price trades in positive territory around $2,740 in Monday’s early Asian session.  The US added just 12,000 jobs in October, the weakest since December 2020. Traders will closely monitor the US presidential election and Fed rate decision this week.  Gold price (XAU/USD) trades with mild gains, snapping the two-day losing streak near $2,740 during