Author: FX
After Wednesday’s near 2% drubbing, the Dow Jones Industrial Average (DJIA) spent Thursday doing something stranger than falling: very little. A 6.5% YoY Producer Price Index (PPI) print, rising jobless claims, and a President promising to seize Iran’s main oil terminal added up to a close only fractionally lower, which says plenty about how numb this tape has become.The session was anything but calm, with an early dip below the 50,000 handle bought hard and the index running to the 50,350 area through the European morning. The 12:30 GMT data dump knocked it back toward 50,100, and a New York-open…
U.S. wholesale inflation hit 6.5% annually in May 2026 — highest since 2022 — as gasoline surged 23.4% and core producer prices posted their biggest jump in years. Source link
The Loonie rose after the BOC sounded worried about inflation, then fell when traders heard bigger warnings about Canada’s weak economy. Source link
As we look to the ECB policy decision later today, BofA is chiming in with their view on where EUR/USD looks to be headed in the months ahead.Given the circumstances with the Middle East conflict, the firm notes that there is still more potential for EUR/USD to navigate to the downside as markets underestimate the diverging paths between the euro and the dollar.”There is a case to be made for EUR/USD to potentially trade through our Q2 forecast of 1.14, which is also just below its 12-month lows. The growth divergence between the US and euro area is notable and…
Michael Pfister at Commerzbank notes the Bank of Canada (BoC) kept rates at 2.25% and sees little impetus for near-term tightening given easing core inflation and a weak real economy. Market pricing now reflects only one hike by December. He argues monetary-policy pressure on the Canadian Dollar (CAD) should ease, leaving USD/CAD direction dependent on broader US Dollar moves.BoC caution weighs on Canadian Dollar”As expected, the Bank of Canada (BoC) kept its key interest rate at 2.25% yesterday. At the same time, policymakers gave little indication that this might change in the near future.””We have argued for some time that,…
The MT4 Strength Indicator is designed to tackle this exact problem. By quantifying the relative strength of currencies, it highlights which pairs have genuine directional pressure. That way, traders can avoid weak setups and focus on movements backed by actual momentum. For example, on a 1-hour USD/JPY chart during a high-impact news release, the indicator can reveal whether the spike is genuine or a temporary fake-out. Here’s the thing: knowing how to read strength isn’t just about spotting trends; it’s about timing entries and exits with confidence. In this guide, we’ll break down how this indicator works, how to set…
There are just a few expiries to take note of on the day, as highlighted in bold below.The first being for EUR/USD at the 1.1530 level. It is not one that ties to any technical significance, so the expiries may not factor too much into play. For now, price action is seeing a bit of consolidation with the ECB policy decision set to be a focus point in the day ahead.The 100-hour moving average at 1.1550 is locking down the upside potential for the pair, with price movements keeping just below that for now. So, that will be a key…
Gold prices rose in Saudi Arabia on Thursday, according to data compiled by FXStreet.The price for Gold stood at 492.12 Saudi Riyals (SAR) per gram, up compared with the SAR 491.43 it cost on Wednesday.The price for Gold increased to SAR 5,739.96 per tola from SAR 5,731.99 per tola a day earlier.Unit measureGold Price in SAR1 Gram492.1210 Grams4,921.17Tola5,739.96Troy Ounce15,306.47FXStreet calculates Gold prices in Saudi Arabia by adapting international prices (USD/SAR) to the local currency and measurement units. Prices are updated daily based on the market rates taken at the time of publication. Prices are just for reference and local rates…
CHF/JPY just bounced off the top of the range visible on its 4-hour time frame and appears to be setting its sights back on the floor. Source link
Oil rises more than $1 as escalation in US-Iran strikes unnerve traders Source link