The US dollar experienced a rollercoaster day as it first declined with falling stocks, but then made a turnaround and ended with substantial gains. The euro was the weakest competitor to the USD, closing the day at around 1.0710. A European Central Bank policymaker stated that rate cuts are not on the horizon, and that […]
Here’s what you need to know on Tuesday, February 7th. The US dollar index, built on last week’s gains, closed in positive territory on Monday amid risk aversion. The Australian dollar outperformed its rivals in the wake of the Reserve Bank of Australia’s (RBA) monetary policy announcement after the US dollar was relatively calm early […]
The price of gold has hit a new high as it follows the main trendline. For bears to gain control, the price must drop below $1,920. On the other hand, for bulls to maintain the bullish outlook, the price must stay above $1,950 and rise above $1,980.The recent surge in the price of gold can […]
The value of the US Dollar took a sharp decline after the Federal Reserve announced its monetary policy decision, which involved a 25 basis point increase in its benchmark rate as expected by market participants. The policy statement indicated that the Fed has changed its stance on inflation, acknowledging that it has “eased somewhat but […]
The EUR/USD gained slightly on Tuesday but was unable to sustain its recovery and fell short of reaching 1.0900. The Euro area’s inflation rate, as measured by the harmonized Index of Consumer Prices, is predicted to decrease to 9% on an annual basis in January from 9.2% in December.The GBP/USD continued its downward trend for […]
Investors are keeping a close eye on important macroeconomic data releases and the US Federal Reserve’s policy announcements as February begins. The European Central Bank’s policy meeting will be held on Thursday, preceded by the release of January inflation figures by Eurostat. In the US, the private sector employment report by ADP and the Manufacturing […]
Gold traders are keeping a close eye on $1,950 and the upcoming Federal Reserve decision. The price of gold (XAU/USD) is showing typical pre-Fed uncertainty and is fluctuating around $1,928 in early Wednesday trading. The metal hit its lowest levels in a week on Tuesday before bouncing back from the $1,900 level due to disappointing […]
The financial markets experienced a lot of fluctuation on Tuesday as investors tried to predict the upcoming decision from the US Federal Reserve. This central bank will be the first to announce, followed by the European Central Bank and the Bank of England later in the week. In the morning, the US Dollar gained strength […]
The US Dollar saw a slight increase at the start of the week due to a poor market sentiment. Despite the cautious market, the Greenback is expected to remain positive before the Asian market opens, with several key events on the macroeconomic calendar this week. On Tuesday, Australia is expected to announce a 0.3% decline […]
Gold has started the week quietly, trading within a narrow range, but remains close to a 9-month high reached last Thursday before the Federal Reserve’s rate-hike decision later this week. Technically, Gold has been resilient below its 200-hour Simple Moving Average and is attracting buyers near $1,920-$1,915. A break below this point could drag the […]