FX

Canadian Dollar trades tightly during the mid-week market session. Canada relegated to strictly mid-tier data releases for the rest of the week. BoC Summary of Deliberations is unlikely to deliver anything new. The Canadian Dollar (CAD) is treading water on Wednesday, trading within a scant tenth of a percent against its largest peer — the

Gold prices remained broadly unchanged in Pakistan on Wednesday, according to data compiled by FXStreet. The price for Gold stood at 20,813.74 Pakistani Rupees (PKR) per gram, broadly stable compared with the PKR 20,824.20 it cost on Tuesday. The price for Gold was broadly steady at PKR 242,768.50 per tola from PKR 242,889.40 per tola

US Dollar lost ground on lower-than-anticipated Retail Sales figures, which fuel dovish bets on the Fed. Markets are digesting comments from Fed officials for placing their bets on the rate cut cycle. Investors continue challenging the Fed and bet on more than one cut in 2024. On Tuesday, the US Dollar, as measured by the

Reserve Bank of Australia (RBA) Governor Michele Bullock is due to hold a press conference following the June monetary policy announcement. Bullock will take questions from the press, as part of a new reporting format for the central bank starting this year. At its June policy meeting, the RBA kept the policy rate unadjusted at

Crude Oil’s recovery could start to fade as upside momentum eases, TDS Senior Commodity Strategist Ryan McKay notes. Markets may halt their Brent and WTI buying program “In WTI crude, Commodity Trading Advisors (CTAs) will need to see prices breakthrough $80/bbl to see a continuation of the recent buying program, while liquidations appear to be

The Australian Dollar extends decline on the firmer US Dollar in Monday’s Asian session. The hawkish tone of the Fed and challenges in China’s economic recovery weigh on AUD/USD. The RBA interest rate decision on Tuesday will be in the spotlight, with no change in rate expected. The Australian Dollar (AUD) extends downside for the third

EUR/JPY trades at 168.43, marking the second consecutive day of losses due to political uncertainty in France. Technical outlook: Consolidation below 170.00 with potential further losses if price drops below the 50-DMA at 167.47. Key support levels: Kumo bottom at 165.92 and 100-DMA at 164.78, indicating acceleration of the downtrend if breached. The Euro tumbled

Gold soars above $2,330 as investors bet on Fed rate cuts later this year. Risk aversion due to European political turmoil boosts demand for safe-haven assets like gold. US Consumer Sentiment dips in June, inflation expectations remain above Fed’s 2% target. XAU/USD is underpinned by fall of 10-year US Treasury yield. Gold’s price spiked during

EUR/GBP is climbing on Friday after a dip to the 0.8400 handle. ECB soothing talking points are helping to recover sentiment, but only slightly. BoE rate call looms ahead next week, but rate moves not expected yet. EUR/GBP dipped to a fresh 22-month low on Friday, tapping 0.8400 before finding a thin recovery that still

Broadcom could be the next company to join the trillion dollar club. Wednesday’s earnings release showed another beat-and-raise announcement that has become commonplace. Markets consolidate on Friday after week’s CPI-led fireworks. Michigan Consumer Sentiment drains, sending NASDAQ lower. Broadcom (AVGO) stock exploded 12% on Thursday, quite a feat for a company already valued at more

Gold (XAU/USD) prices are nearly back to the post-CPI highs seen on Wednesday, analysts at TDS note. Gold is on the rise, Silver faces a leg down “Back-to-back weaker-than-expected inflation prints, along with the less hawkish details of the Federal Reserve meeting, have seen appetite for the Yellow Metal increase as markets now price in

Following the conclusion of its two-day monetary policy review meeting on Friday, the Bank of Japan (BoJ) board members decided to maintain the key interest rate at 0%. The decision matched the market expectations. The BoJ held rates for the second straight meeting in June after hiking for the first time since 2007 in the

Natural Gas falls lower with markets having difficulties digesting Fed’s communication. German utility company Uniper terminates Gas supply contracts with Russia’s Gazprom after a court ruling. The US Dollar Index trades sideways after a very volatile session on Wednesday.  Natural Gas price (XNG/USD) sinks lower by more than 1%, turning red after a green bounce

WTI is undermined by a surprise build in US inventories and lower demand growth forecast by IEA. The Fed’s hawkish surprise lifts the USD and weighs on the dollar-denominated commodity. The lack of strong follow-through selling warrants caution before positioning for deeper losses. West Texas Intermediate (WTI) US crude Oil prices trade with a mild

The Federal Reserve is widely expected to hold policy rate unchanged. Fed Chairman Powell’s remarks could provide important clues about the timing of the policy pivot. Markets see a strong chance that the Fed will wait until September to lower the interest rate. The US Federal Reserve (Fed) will announce monetary policy decisions following the

Gold price edges lower on Wednesday and seems to have snapped a two-day winning streak.  Reduced bets for a September Fed rate cut continue to underpin the USD and cap the upside. Investors now look to the US CPI report and FOMC decision for a fresh directional impetus. Gold price (XAU/USD) struggles to capitalize on

GBP/USD tumbles 0.14% due to disappointing UK employment data. Technical outlook shows neutral bias with momentum fading, consolidating between 1.2687-1.2750. A hawkish Fed could push GBP/USD below 1.2687, targeting 1.2643/37 and 1.2600; resistance at 1.2750 and 1.2800. The GBP/USD dropped during the North American session after employment data from the UK was weaker than expected,

Gold price attracts fresh sellers and is undermined by reduced Fed rate cut bets.  political uncertainty in Europe and geopolitical risks should limit the downside. Traders also seem hesitant ahead of the US CPI and FOMC decision on Wednesday. Gold price (XAU/USD) meets with a fresh supply during the Asian session on Tuesday and erodes