FX

Oil gives up earlier attempts to avoid losses and falls to session’s low.  OPEC+ will convene online to decide on production cuts, with most analysts expecting current cuts to extend into 2025.  The US Dollar Index trades further below 105.00 to the mid 104.50-levels.  Oil prices were trying to claw back though are back to

Trump Media stock rotates 4% lower after gaining in premarket. Donald John Trump was convicted of 34 felony counts for falsifying business records on Thursday. New York state jury was unanimous on all counts against former President. DJT stock support sits near $42 if shares fall out of $45 to $50 consolidation zone. Trump Media

Core PCE data from the US shows monthly inflation arriving below expectations. Downwardly revised consumer spending data and Q1 GDP growth earlier in the week worry traders. UiPath and Salesforce plunge on reduced growth. Dell, MongoDB, CrowdStrike suffer from pessimism regarding guidance. A number of premier tech stocks have cascaded lower late this week, providing the NASDAQ

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet

The Mexican Peso is at risk of reversing its long-term uptrend.  Several analysts say MXN has peaked and is on the way down. Negative fundamentals include the Mexican and US presidential elections and a narrowing MXN-supportive interest-rate differential. The Mexican Peso (MXN) makes up earlier loses to trade about flat in its key pairs during the US session on

Federal Reserve Bank of Atlanta President Bostic said on Thursday that the inflation path will be bumpy and less inflation breadth would add to confidence for a rate cut. Key quotes Inflation path will be bumpy. General inflation trend is down. Path to 2% inflation is not assured. Job market is tight, but not as much as

Oil pops above $80 for the first time in a month.  Pressure in Oil markets is rising ahead of the OPEC+ meeting in June.  The US Dollar Index edges up towards 104.50 after the Fed’s Kashkari hawkish comments.  Oil prices extend their rally for a fourth consecutive day on Wednesday with tensions building up towards

Gold gains more than 0.30% despite pressure from high US Treasury yields. Hawkish remarks from Fed officials, including Governor Michelle Bowman, temper Gold’s rise. XAU/USD traders are eyeing the release of US core PCE inflation data. Gold price was modestly up late in the North American session, registering gains of around 0.15% amid high US

Natural Gas prices slide over 2% amid reports that Israeli opposition parties discuss plans to oust Prime Minister Benjamin Netanyahu.   Ireland, Norway and Spain have officially recognized the Palestinian state as strikes over Rafah continue.  The US Dollar Index retreats further, testing the last lines of defense. Natural Gas price (XNG/USD) is testing this week’s low

GBP/USD trades with mild positive bias near 1.2770 in Tuesday’s early Asian session.  Traders lower their bets on interest rate cuts by the Fed amid strong US data and the Fed’s hawkish comments.  The BoE might stay on hold on the rate, boosting the GBP.  The GBP/USD pair consolidates its upside around 1.2770 after reaching two-month highs

Gold is pulling back after last week’s steep sell-off.  Traders are keen to wait for US inflation data later this week to reassess fundamentals.  Gold is probably forming a consolidation or continuation pattern within a downtrend that is likely to go lower.  Gold (XAU/USD) is trading in the $2,340s, making a modest pullback from oversold

AUD/USD kicks off the new week on a positive note around 0.6632 on Monday.  The US Durable Goods Orders came in better than expected; the UoM Consumer Sentiment Index was above the consensus. The hawkish stance of the RBA might support the Aussie in the near term ahead of Australian key data this week. The AUD/USD pair edges higher

The daily indicators remain in positive territory but somewhat flattened . The hourly charts reveal a temporary dip in the RSI and a MACD flattening, signaling a possible short-term consolidation. Pending bullish crossover between the 200 and 100-day SMA at 0.6040 could bolster the bullish momentum in future sessions. During Friday’s session, NZD/USD rose towards

DXY Index is trading at 104.7, showcasing 0.35% losses but will close the week with mild gains. Durable Good orders from the US came in higher than expected but didn’t trigger movement from Greenback. Fed maintains cautious stance on premature easing, hinting at lower chances for swift interest rate cuts which cushions the USD. The

Gold climbs 0.23% on Friday but is set for weekly drop above 3%. US Durable Goods Orders exceed expectations, though March’s revised down data softened the impact. XAU/USD recovers on mixed US data that weighs on US Dollar. Traders now anticipate only 25 basis points of Fed rate cuts in 2024, reducing expectations for easing.

Mexican Peso recovers slightly, breaking three-day losing streak. Mexico’s wider April trade deficit and slower economic growth are reported by INEGI. Banxico minutes show division on rate cuts amid ongoing inflation, emphasizing commitment to price stability. US Durable Goods Orders beat expectations, but March’s figures are revised down heavily. The Mexican Peso snapped three days

GBP/USD Forecast: Pound Sterling could stretch lower while it remains below 1.2700 GBP/USD closed in negative territory on Thursday and snapped a four-day winning streak. After touching its lowest level in a week below 1.2680 in the early European session on Friday, the pair recovered to the 1.2700 area. The UK’s Office for National Statistics

EUR/USD eases lower as risk-off flows bolster the Greenback. A spike in US Services PMIs reignite fears of sticky inflation. Fed rate cut hopes hinging in easing services inflation stumble. EUR/USD headed lower on Thursday, driven closer to the 1.0800 handle after an unexpected upswing in US Services Purchasing Managers Index (PMI) figures sparked renewed