FX

Share: Silver inches closer to retesting its year-to-date high of $24.63, after marking a 0.86% increase. Technical dynamics suggest potential for further gains if silver surpasses the $24.50 resistance. Downside risks loom if silver falls below $24.31, targeting supports at $24.00 and the March 6 low of $23.57. Silver’s price rallies, but it remains below

Share: Mexican Peso appreciates for the seventh consecutive day, buoyed by soft US Dollar following mixed US jobs report. Banxico’s upcoming rate decision eyed closely after subdued Mexican inflation figures. US Nonfarm Payrolls exceed expectations, but revisions and higher Unemployment Rate fuel speculation of June Fed rate cut. The Mexican Peso appreciated for the seventh

Share: Gold price prints a fresh all-time high of above $2,180 amid multiple tailwinds. The US Dollar weakens on slower wage growth and higher Unemployment Rate in February.  US Treasury yields plunge as Fed Powell delivers a slight dovish guidance on interest rates. Gold price (XAU/USD) extends its upside in Friday’s early New York session after a

Share: Australian Dollar consolidates with a positive bias ahead of US Nonfarm Payrolls. Australia’s S&P/ASX 200 Index rose to new record highs, following a tech-led rally on Wall Street overnight. Fed Chair Powell reiterated that the central bank could initiate rate cuts at some point this year. The Australian Dollar (AUD) attempts to continue its

Share: EUR/JPY plummets to 161.00 as the ECB keeps lending rates unchanged at 4.5% as expected. The ECB has revised down inflation forecasts and near-term growth projections. Investors see the BoJ exiting dovish rate stance sooner. The EUR/JPY pair witnesses an intense sell-off, falling to 161.00 in Thursday’s early New York session. The asset drops

Share: Australia’s trade surplus widened to 11,027M MoM in February versus 11,500M expected and 10,743M in the previous reading, according to the latest Aussie foreign trade data published by the Australian Bureau of Statistics on Thursday. Further details reveal that Australia’s December Goods/Services Exports reprint 1.6% figures on a monthly basis versus 1.8% prior. The

Share: The US Dollar trades softer across the board on Wednesday.  US Federal Reserve Chairman Jerome Powell is heading to Capitol Hill for his semi-annual testimony.  The US Dollar Index snaps an important support, looking bleak ahead of the ECB decision and NFP data. The US Dollar (USD) is facing some firm selling pressure on

Share: Australia’s Gross Domestic Product (GDP) grew 0.2% in the fourth quarter of 2023 compared with the 0.3% growth in Q3, the Australian Bureau of Statistics (ABS) showed on Wednesday. This reading came in below expectations of 0.3%. The annual fourth-quarter GDP expanded by 1.5%, compared with the 2.1% growth in Q3 while beating estimates of a

Share: Natural Gas prices are jumping higher in both the European and US futures markets.  US gas exports declined at the end of February, while some US producers are cutting output. The US Dollar Index trades around 104.00 ahead of Super Tuesday and US PMI numbers.  Natural Gas (XNG/USD) trades in the green for a

Share: USD/CAD remains flat around 1.3575 in Tuesday’s early Asian session.  Fed’s Bostic said there’s no urgency to cut interest rates given the US economy’s strength.  The BoC is expected to hold rates at 5% at its June meeting on Wednesday. The USD/CAD pair holds below the 1.3600 barrier during the early Asian trading hours

Share: EUR/USD nudges higher. Economists at Scotiabank analyze the pair’s outlook. Narrower EZ/USD spread lifts EUR EUR/USD has been supported by narrowing spreads versus the USD in the past couple of weeks. A clearly dovish ECB may undermine that trend, and weigh on the EUR, but a hold and ‘no rush’ messaging may support a firmer

Share: Gold price holds positive ground near $2,085.55 in Monday’s early Asian session.  The US ISM Manufacturing PMI came in worse than expected, dropping to 47.8 in February from 49.1 in January.  Fed’s Bostic said the central bank would cut rates in the summertime if the economy evolves as he expects.  Gold price (XAU/USD) rose

Share: EUR/USD vaults back into 1.0840 following market pivot. Market risk sentiment sees a late-week recovery on Friday. US Manufacturing PMI unexpectedly declines, sparking rate cut hopes. EUR/USD caught a bounce from 1.0800 after markets pivoted into a risk-on stance following Friday’s US ISM Manufacturing Purchasing Managers Index (PMI) declined, flubbing forecasts and stepping deeper

Share: Gold price catapults to $2,088.33, marking a significant rally in response to US economic reports and bond yield dynamics. Mixed manufacturing PMI reports fuel Gold’s ascent with ISM data indicating contraction in US manufacturing sector. Declining US Treasury yields bolster Gold’s attractiveness, pushing XAU/USD to new year-to-date peak. Gold price soars to a new

Share: Another shutdown is looming in the US. What does all this mean for the Dollar? Economists at Commerzbank analyze Greenback’s outlook. Yet another shutdown in the US?  This is not the first time that a shutdown is looming. There have also been longer actual shutdowns until an agreement was reached in Congress. In the

Share: The latest Monetary Policy Report from the Federal Reserve (Fed) highlights the US central bank’s stance on the current economic and inflation outlook, and what it will take for Fed policymakers to feel comfortable enough to begin cutting interest rates. Key highlights Inflation expectations are broadly consistent with 2% goal. Labor market remains tight,

Share: WTI Oil jumps to $78, trying to break higher. Oil traders are seeing bullish signals as US macroeconomic data points to a recovery and OPEC looks set to lengthen its production cuts.  The US Dollar Index is back above 104.00, though it is unable to clearly break away from a pivotal level.  Oil prices

Share: Crude Oil capped after US stocks increase. US PCE print limits risk appetite. Geopolitical headline tension is easing slightly. West Texas Intermediate (WTI) US Crude Oil traded closely with the $78.00 handle on Thursday as bullish Crude Oil momentum stopped in its tracks as rising US Crude Oil stocks begin to weigh on energy