FX

Gold prices fell in India on Tuesday, according to data from India’s Multi Commodity Exchange (MCX). Gold price stood at 71,922 Indian Rupees (INR) per 10 grams, down INR 287 compared with the INR 72,209 it cost on Monday. As for futures contracts, Gold prices increased to INR 71,887 per 10 gms from INR 71,855

Gold falls 1%, retreating from $2,350, despite typically supportive lower US Treasury yields. US economic events, including inflation data and a speech by Fed Chair Powell, are poised to influence markets. Fed Vice-Chairman Jefferson was hawkish, stressed importance of driving inflation toward 2% target. Gold prices retreated sharply on Monday from near $2,350 even though

USD/CHF inches higher due to a firmer US Dollar driven by cautious remarks from Fed officials. The decline in the US Treasury yields limits the advance of the Greenback. Swiss Consumer Climate (YoY) came in at the reading of -38.1 for April, compared to -38.0 prior. USD/CHF gains ground for the second successive session, trading

GBP/JPY up 0.26% on Friday, totaling a 1.74% weekly gain, now at 195.10. Technicals show upward trend, rebounding from 50-day MA at 193.50. Resistance at Kijun-Sen (195.26); breaking this could push towards 196.00 and April 26 high of 197.92. The Pound Sterling (GBP) will finish the week on a higher note against the Japanese Yen

Federal Reserve (Fed) Bank of Richmond President Thomas Barkin hit newswires late Friday reaffirming a “patient” approach from the Fed will eventually reduce inflation to the US central bank’s desired target level. Key highlights The current economy calls for a deliberate and patient approach. With appropriate policy and time, inflation will hit 2%. Demand is

The daily chart reveals a subtle change in buyers’ momentum, noted by decreasing MACD green bars and a neutral RSI. Hourly indicators picture a balanced scenario for the session. At the end of the week, the NZD/USD has lost 0.21% as buyers seem to have run out of steam. The sluggish trend momentum might suggest

Notable monetary divergence between Fed, G10 peers keeps USD afloat. Markets await further economic reports for insights into the US economy’s health for potential adjustments to Fed expectations. Next week’s highlight will be April’s US CPI. The US Dollar Index (DXY) is currently trading around the 105.35 mark, posting mild gains on Friday near the end

Gold rebounds from daily lows, propelled by a sharp drop in US consumer sentiment and future economic outlook. High US Treasury yields weren’t an excuse for Gold’s advance. US consumers expect inflation to remain above 3% over a one-year period. Fed officials are cautious about rate cuts, with mixed signals from different Fed governors. Gold

Gold price edges higher for the second consecutive day on Friday.  Weak employment data bolstered the speculation that the weakening economy would force the Fed to cut rates. The hawkish Fed talks could create bearish headwinds for gold.  The preliminary US University of Michigan Consumer Sentiment Index is due on Friday.  Gold price (XAU/USD) gains

Mexican Peso strengthens as the USD/MXN drops 0.21%, following April’s hot inflation report Consumer Price Index data shows prices remain above Banxico’s target range, hinting it may hold rates at 11.00%. USD/MXN traders’ eye upcoming decisions from Banxico and its updates to economic projections. The Mexican Peso appreciated against the US Dollar after the latest

Gold price holds positive ground in Thursday’s early European session.  The rise in global gold demand, persistent central bank purchasing, and safe-haven flows might continue to boost the precious metal.  Investors will monitor the US weekly Initial Jobless Claims and the Fed’s Daly’s speech on Thursday.  Gold price (XAU/USD) trades with a positive bias on

GBP/JPY finds fresh highs after “Yenterventions” knocked pair lower. BoE rate call around the corner, UK GDP on Friday. BoE expected to hold rates steady, Gov Bailey speech anticipated. GBP/JPY is slowly grinding its way back up the chart after a pair of suspected “Yenterventions” by the Bank of Japan (BoJ), but thus far no

Gold price extends its decline amid the renewed USD demand on Wednesday.  Investors place lower bets on the potential Fed interest rate cuts in 2024.  The Fed’s (Fed) Philip Jefferson, Susan Collins, and Lisa Cook are scheduled to speak later on Wednesday.  Gold price (XAU/USD) attracts some sellers on the firmer US Dollar (USD) during

Federal Reserve (Fed) of Minneapolis President Neel Kashkari hit newswires for the second time on Tuesday as the Fed official weighs in on the Fed’s inflation and interest rate outlook for the rest of the year. Key highlights Most likely scenario is rates stay put for an extended period. If disinflation returns, or we see

Gold price trades in negative territory on Tuesday amid the renewed USD demand.   A downbeat US jobs data for April prompted speculation of potential rate cuts by the Fed in the coming months.  Investors will keep an eye on Fed’s Kashkari’s speech later on Tuesday.   Gold price (XAU/USD) loses its recovery momentum on Tuesday. The

Mexican Peso appreciates, trading at 16.90 against US Dollar, a 0.26% decline for USD/MXN amid a busy economic week. Mexico’s key economic events include Consumer Confidence and auto data, the Consumer Price Index (CPI) and Banxico’s policy decision. External factors like the US employment report’s impact and upcoming US economic data could further sway the

Gold price attracts some buyers amid the softer USD on Monday.  The growing expectations that the Fed will start cutting interest rates later in the year lifted the yellow metal.  The easing Middle East tensions and risk-on mood might cap the gold’s upside.  Gold price (XAU/USD) snaps the two-day losing streak during the early European

The daily indicators hint at a strengthening bullish momentum. Hourly indicators are consolidating after hitting overbought conditions earlier in the session. If the buyers regain the 100-day SMA, the bearish trend will be threatened. At the end of the week, the NZD/USD rallied to around 0.6050, up by 0.80%. Bullish momentum is picking up but