FX

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The Pound Sterling declines against the US Dollar to nearly 1.2880 on upbeat US Q2 flash GDP data. Firm preliminary S&P Global/CIPS PMI for July has improved the UK’s economic outlook. BoE officials hesitate to authenticate market speculation for a rate cut in August. The Pound Sterling (GBP) exhibits a poor performance against its major peers, except

EUR/USD weakens near 1.0835 in Wednesday’s early Asian session.  ECB’s Guindos hinted at a possible interest rate cut in September. US S&P Global Manufacturing PMI dropped to 49.5; Services PMI improved to 56 in July.  The EUR/USD pair trades in negative territory for the third consecutive day around 1.0835 during the Asian session on Thursday.

S&P 500 had visible trouble extending Monday‘s gain far, and no rally into key earnings served as warning. The relief rally following very weak opex Friday, seems to have run its course – and downside risks are reappearning again, meaningfully. GOOG earnings were welcome on the financial side, but then fatigue over AI expenses contribution

USD/JPY advances near 155.85 in Wednesday’s early Asian session, up 0.24% on the day.  The higher possibility of a BoJ interest rate hike might support the Japanese Yen.  Investors will monitor the US preliminary S&P Global PMIs for June, which is due later on Wednesday.  The USD/JPY pair trades on a stronger note around 155.85, snapping the

Gold price bounces back in the countdown to a string of US economic data. Firm Fed rate cut hopes to keep the upside in the US Dollar limited. Gold price in India sinks after customs duty reduction. Gold price (XAU/USD) gains ground near the round-level resistance of $2,400 in Tuesday’s North American session. The precious metal finds cushion

WTI trades in negative territory for the fourth consecutive day $78.00 on Tuesday. Oil demand concerns continue to weigh on the WTI price. Morgan Stanley expects oil prices to drop to the mid-$70s in 2025 amid a surplus.  West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $79.00 on Tuesday. WTI price edges

Gold price slips despite uncertainty over US presidential elections. US President Biden withdraws the re-election bid and nominates Kamala Harris to lead the Democrats. The US Dollar edges lower ahead of US data-packed week Gold price (XAU/USD) edges lower slightly below the key support of $2,400 in Monday’s New York session. The precious slips despite the nomination of Vice President Kamala

Gold price holds positive ground near $2,410 in Monday’s early Asian session.  High uncertainty surrounding the US Presidential election tends to be good for gold, a safe-haven asset.  The first reading of US PMI, Q2 GDP, and June PCE data will influence the yellow metal this week.  Gold price (XAU/USD) attracts some buyers around $2,410, snapping the

AUD/USD registered a significant drop on Friday, slipping below 0.6700. Employment data continues to shape possible RBA and Federal Reserve decisions. The Aussie’s downside is limited by the hawkish RBA stance which hasn’t shown signs of embracing cuts. In Friday’s session, The Australian Dollar (AUD) saw considerable losses against the USD, falling by 0.30% to

NZD/USD trudges below the 0.6070 level, marking its worst week since January. The pair closed at 0.6010, indicating a weekly loss of approximately 1.80%. NZD/USD remains under the key SMA of 20, 100, and 200 days, pointing to a sustained bearish bias. In Friday’s session, the NZD/USD sustained its downward momentum, dropping by 0.65% to

RMB markets were not excited at the conclusion of China’s Third Plenum, and USD/CNH is likely to consolidate around 7.25-7.30, DBS FX & Credit Strategist Chang Wei Liang notes. USD/CNH to consolidate within 7.25-7.30 “RMB markets were not excited at the conclusion of China’s Third Plenum, and USD/CNH is likely to consolidate around 7.25-7.30. The communique

EUR/USD dips slightly under 1.09. ECB kept rates on hold as expected and left a September rate decision ‘wide open’ and data dependent, DBS FX & Credit Strategist Chang Wei Liang notes. ECB to lean towards caution “EUR/USD dipped slightly under 1.09, with the ECB keeping rates on hold as expected and leaving a September

The Pound Sterling further corrects against the US Dollar after the release of weaker-than-expected UK Retail Sales data for June. Doubts over the BoE to begin reducing interest rates in August remain afloat. The uncertainty over the US Presidential elections improves the safe-haven appeal of the US Dollar. The Pound Sterling (GBP) extends its correction against

EUR/USD backlides to 1.0900 handle on Thursday as US Dollar flows recover lost ground. The ECB held rates steady on Thursday as policymakers keep watching for inflation. Fiber traders to turn toward next week’s pan-EU inflation figures. EUR/USD shed weight on Thursday, falling back into the 1.0900 key handle amid a broad-market recovery in Greenback

The Canadian Dollar (CAD) is little changed on the session, leaving it as a marginal outperformer alongside the Australian Dollar (AUD) on a day where the US Dollar (USD) is trading a little higher overall, Scotiabank’s chief FX strategist Shaun Osborne notes. USD seems unable to extend much above 1.37 “Market-moving news is in short

Gold prices fall to $2,457 after hitting an all-time high of $2,483 due to profit-taking. Fed officials signal potential rate cuts; Governor Waller suggests downward trend for Fed funds rate. US Dollar Index drops to 103.72, its lowest since March 2024, while US Treasury yields decline. Gold prices retreated as investors took profits after the

AUD/USD moves higher to 0.6750 as US Dollar faces a wrath due to strong speculation for Fed rate-cuts in September. Fed Williams communicated the need for more good inflation to gain confidence for Fed rate cuts. Aussie Employment data will provide fresh guidance on RBA interest rates. The AUD/USD pair climbs to near 0.6750 in