FX

EUR/USD clipped into 1.0840 after broad-market risk appetite rally after US NFP print. Sharp NFP revisions have reignited hopes for a September Fed rate cut. Coming up next week: Fed Chair Powell, US CPI print, German Retail Sales. EUR/USD whipsawed after a mixed US Nonfarm Payrolls (NFP) print on Friday before settling on the high

NZD/USD edged higher and closed above the 20 SMA support around 0.6120. With the technical outlook now showing signs of bullishness, the pair tests resistance around the 0.6150 level. On Friday, the NZD/USD saw gains of 0.40% to 0.6050, as it managed to close above the 20, 100, and 200-day Simple Moving Averages (SMA). As

Gold price leaped over 1% to $2,385, spurred by mixed US NFP data and heightened Fed rate cut speculation. June NFP surpasses forecasts, yet revisions for April and May indicate an accelerating labor market cooldown. US Dollar Index (DXY) declines 0.16% to 104.95; 10-year Treasury yield drops more than six basis points to 4.284%. The

Despite Pound Sterling’s (GBP) limited reaction to the UK election result, the drop in the value of the US Dollar (USD) over the past couple of sessions has allowed the GBP to move into the position as best performing G10 currency in the year to date, senior FX strategist at Rabobank Jane Foley notes. GBP/USD

In its Semi-Annual Monetary Policy Report published on Friday, the Federal Reserve (Fed) noted that they have seen modest further progress on inflation this year but added that they still need greater confidence before moving to rate cuts, pre Reuters. Key takeaways “Labor supply and demand resembles period right before the pandemic, when the labor market was

Gold extends its positive run as the probability of the Federal Reserve lowering interest rates increases.  A run of weak data from the US indicates inflationary pressures are waning, and interest rates could fall.  The US Dollar weakens, adding a backwind to Gold, as counterparts in Europe strengthen on diminishing political risk.  Gold (XAU/USD) rises

Gold prices edge up 0.15% amid thin trading on US Independence Day. XAU/USD reached a two-week high of $2,365 Wednesday, driven by weak US jobs data and heightened Fed rate cut expectations. Traders shift focus to Friday’s Nonfarm Payrolls report, following the US holiday closure. Gold prices registers minimal gains on Thursday amid thin liquidity

Chance for the New Zealand Dollar (NZD) to retest the 0.6130 level, and a sustained break above this level appears unlikely. But, recovery in NZD could extend to 0.6150, UOB Group analysts Quek Ser Leang and Peter Chia note.   Recovery in NZD may extend to 0.6150 24-HOUR VIEW: “Two days ago, NZD dipped to

US Dollar saw severe selling pressure after soft ADP figures from June. Markets boosted their bets for September Fed rate cut. FOMC minutes from the June meeting saw members acknowledging a ‘cool down’ of the economy. On Wednesday, the US Dollar, represented by the Dollar Index (DXY), declined to its lowest level since June 18

Current price movements are likely part of a consolidation, likely between 1.2600 and 1.2720. The Pound Sterling (GBP) could rebound further, but any advance is unlikely to be able to break the major resistance at 1.2720, UOB Group FX strategists suggest. GBP must not break below 1.2650 to continue falling 24-HOUR VIEW: “After GBP spiked

AUD/USD continues sideways trading around 20-day SMA. Fed Minutes on Wednesday follow RBA’s turn. May’s Retail Sales from Australia and US ADP figures are also due on Wednesday. Powell showed confidence in inflation coming back down to 2% sooner than expected. Tuesday’s session witnessed the Australian Dollar (AUD) clearing losses against the US Dollar following

Gold is trading in a narrow range as the outlook for a key driver – US interest rates – remains opaque.  The Fed continues to weigh up the pros and cons of cutting interest rates, a potentially positive event for Gold. Multiple geopolitical factors suggest a broadly bullish backdrop for the precious metal.   Gold (XAU/USD)

US Dollar recovers after slight losses following ISM PMIs data. Dollar finds cushion on high US Treasury yields. Signs of disinflation have begun to surface in the US economic landscape, which might justify bringing cuts forward. As the week begins, the US Dollar based on the DXY Index has cleared daily losses and currently sits

Silver price may extend its winning streak as recent inflation raises the odds of the Fed’s rate cuts. US PCE Price Index increased by 2.6% YoY in May, down from 2.7% in April. Silver may limit its upside due to demand uncertainties in China, the largest consumer of grey metal. Silver price (XAG/USD) remains stable

S&P 500 ran well into the data release, surged only to reverse in a four-hours selling streak. Some sectoral culprit? No, long-dated bonds did it – TLT daily slide did it. Was it fundamentally justified? Usually, you would see USD go up in tandem, but that didn‘t happen. The selling looks to me to be

Gold falls from daily highs, pressured by elevated US Treasury yields. May US PCE Index meets forecasts, fuels hope for 2024 Fed rate cuts. US 10-year yield hits 4.339%, a high since June 12; DXY at 105.80, down 0.08%. Gold prices retreated during Friday’s session after an inflation report revealed progress in the disinflationary process

AUD rose against USD due to US inflation reduction and a potential dovish stance from the Fed. Soft PCE data from the US may benefit the Aussie policy divergence between the RBA and Fed. RBA’s delayed rate cuts could bolster the Aussie, contrasting with other G10 central banks’ reduction strategies. Friday’s session recorded a significant

US Dollar saw a slight dip at the end of the week, clearing daily gains. US Dollar finds support amid high US Treasury yields. May’s PCE data showed an unexpected deceleration in US inflation. The end of the week saw the US Dollar, as benchmarked by the DXY Index, settle near 105.80, after hitting a