Author: FX

Gold surges to new all-time high above $2,600, fueled by expectations of further Fed rate cuts. Safe-haven demand spikes due to escalating tension between Israel and Hezbollah. Fed Governor Waller backs 50 bps rate cut; however, dissenting Fed member Michelle Bowman prefers a smaller cut to guard against declaring an early win on inflation. Gold prices climbed past $2,600, recording new all-time highs amid increasing speculation that the Federal Reserve (Fed) will continue to lower borrowing costs and heightened tensions between Israel and Hezbollah in the Middle East. The XAU/USD trades at $2,621, up 1.37%. Risk aversion is the game’s…

US Dollar is gaining strength after Fed decision volatility. New York Fed’s Nowcast model predicts robust economic growth in third and fourth quarters. Fed expects financial conditions to remain loose, supporting the economy. The US economy is experiencing a moderate slowdown, but indicators suggest that economic activity remains robust overall. The Federal Reserve (Fed) has indicated that the pace of its interest rate increases will be determined by economic data. The upcoming US election will have wide ranging impacts across financial markets, but for now the US Dollar is holding its ground. However, dovish bets on the Fed remain steady…

The NZD/USD upside seems to be limited as buying and selling forces struggle for dominance. The RSI suggests a neutral outlook, while the MACD indicates declining selling pressure. A crossover between the 100 and 200-day SMA might propel the pair upwards. The NZD/USD traded mostly flat on Friday’s session and failed to hold gain which took it to a high around 0.6260 as it then retreated to 0.6240. The Relative Strength Index (RSI) is at 61, in positive territory with a flat slope. This indicates a neutral outlook for the pair, as buying pressure is flat. The Moving Average Convergence…

By Lucy Papachristou LONDON (Reuters) – Western governments and Russia’s exiled opposition should begin laying the groundwork for Russia’s democratic transition after President Vladimir Putin eventually leaves office, Vladimir Kara-Murza, a Russian opposition politician, said on Friday. Seven weeks after he was released from a Siberian penal colony in a historic East-West exchange, Kara-Murza did not say how he thought Putin would leave, but argued Russia must not squander what he said would be a narrow sliver of time to establish a democratic government, as he said it did after the Soviet Union’s collapse in 1991. “We need to learn…

It was a hectic week in the global financial markets, as the FOMC decision took center stage while crude oil made some big moves of its own. This Article Is For Premium Members Only Become a Premium member for full website access, plus get: Ad-free experience Daily actionable short-term strategies High-impact economic event trading guides Access to exclusive MarketMilk™ sections Plus More! Source link

Although the FOMC decision was the main event on everyone’s radars, there was no shortage of top-tier economic updates that pushed major currencies around throughout the week. Source link

The NZD/JPY rose by nearly 0.90% to 89.80 on Friday. The RSI is in positive territory and rising, indicating buying pressure. The MACD is showing rising green bars, suggesting increasing bullish momentum. In Friday’s session, the NZD/JPY continued its climb, propelled by a 0.90% rise to 89.80. This upward trajectory indicates that the pair is gaining strength following the recent consolidation above the 89.00 level. The pair is also riding a substantial winning streak and exhibiting signs of technical strength, amplifying the possibility of further advancements. Examining the Relative Strength Index (RSI), it is currently positioned at 54, suggesting that…

The economic data today was focusing Canada where retail sales rose by a higher-than-expected 0.9% but you should prices were lower than expectations.In the US, two-days after the FOMC rate decision to cut rates by 50 basis points, Feds Waller – normally a more hawkish member – spoke on CNBC. His comments were thought to be more dovish as the Fed recalibrates policy with inflation lower and potential for unemployment to move higher. Fed Governor Chris Waller stated that the economy remains strong, and inflation is coming down. He expressed openness to front-loading rate cuts based on inflation data, especially…

USD/JPY on track for a positive weekly close, yet still under key resistances, maintaining the downtrend. Resistance challenges include Kijun-Sen at 144.40 and Ichimoku Cloud; 50-DMA approaching a bearish cross with 100 and 200-DMAs. Buyer momentum builds with RSI rising, though remains below the critical 60 mark needed to overturn the downtrend. Potential upside targets 145.00 and the September 3 high at 147.21; a drop below 143.00 could test support at 142.04 (Tenkan-Sen). The USD/JPY registers gain for back-to-back days, yet it remains shy of decisively cracking the 144.00 figure despite registering a weekly high of 144.49. At the time…

The Dow Jones is inching back into record highs on Friday. The index continues to find play above 42,000 in the post-Fed glut. The Dow Jones stock index rose up to 100 points, or 0.25%, during Friday trading. The Dow Jones Industrial Average (DJIA) edged back into the top end during the Friday market session, keeping bids north of 42,000 and sticking close to this week’s all-time record peaks. Equities pivoted firmly into the bullish side after the Federal Reserve (Fed) cut interest rates Wednesday, easing policy rates for the first time in four years and delivering an outsized 50…