Author: FX

GOLD PRICE FORECAST:For Beginner Traders, Download Your Free Forex Guide Below Recommended by Zain Vawda Forex for Beginners MOST READ: USD/ZAR Forecast: Rand (ZAR) Slides Despite BRICS Expansion Plans, A Temporary Blip?Gold prices may have fallen back slightly from a 2-week high but remains up around 1.31% at the time of writing and on course to snap a 4-week losing streak. Gold has been a surprise this week given the early rise in US yields as well as strength in the Dollar Index (DXY) for the majority of the week.US DATA, DOLLAR INDEX AND JACKSON HOLEAs Gold looks to snap…

Lockheed Martin awarded $315.94M Navy contract modification Source link

Who’s up for a trend trade today? If you are, then you won’t want to miss EUR/CAD pulling back from its August highs. Check out this setup on the 4-hour time frame! EUR/CAD 4-Hour Forex Chart by TV EUR/CAD has pulled back from its August highs after getting rejected not once, but TWICE in the last few days. What makes the pair interesting today is that it’s about to hit some key potential support zones. The 50% Fibonacci retracement level, for example, lines up with the 1.4650 minor psychological handle. In addition to that, EUR/CAD’s current levels are also not…

Investing.com– Gold prices fell slightly on Friday as traders largely favored the dollar ahead of more signals on U.S. monetary policy from the Jackson Hole Symposium, although signs of weakening growth still kept gold above key levels.  Gold was also set for its first positive week in five, as it recovered from five-month lows hit earlier in August. Despite Friday’s losses, spot prices also retained the closely-watched $1,900 per ounce level. Still, the outlook for the yellow metal remained muddled by the prospect of higher U.S. interest rates. The stood at an over two-month high on Friday, while rose back…

Moves were not large during the session here today but were characterised by small, but mixed, gains for the USD. EUR, GBP, CHF and CAD are all down a few points while AUD and NZD are more or less unchanged. From Japan today we had Tokyo area CPI data for August (the Tokyo inflation data is available around 3 weeks ahead of the nationwide inflation data for the same month and acts as a decent guide to the wider data). Two of the three measures dropped from the July reading while the ‘excluding food and energy’, which is the closest…

Share: NZD/USD trades lower around 0.5920 attributed to upbeat US employment data. US Dollar (USD) remains supported by the possibility of the Fed’s hawkish stance. US Initial Jobless Claims helped the US Dollar (USD) to gain momentum. NZD/USD extends its losses, trading lower around 0.5920 during the Asian session on Friday. The pair experiences downward pressure due to upbeat United States (US) employment data released on Thursday. The US Initial Jobless Claims indicated positive employment conditions, which raises the concerns over inflation scenario in the US. For the week ending on August 18, the index dropped to 230K…

Maja Hitij/Getty Images News The U.S. Department of Justice filed a lawsuit Thursday against Elon Musk’s SpaceX (SPACE) for allegedly discriminating against asylum seekers and refugees in hiring. From at least September 2018 to May 2022, SpaceX (SPACE) “routinely discouraged asylees and refugees from applying and refused to hire or consider them, because of their citizenship status, in violation of the Immigration and Nationality Act,” the DoJ alleged. In job postings and public statements over several years, the company wrongly claimed that federal export control laws meant it could hire only U.S. citizens and lawful permanent residents, or “green card…

© Reuters. FILE PHOTO-Joachim Nagel, President of Germany’s federal reserve Bundesbank addresses the media during the bank’s annual news conference in Frankfurt, Germany March 1, 2023. REUTERS/Kai Pfaffenbach/File Photo (Reuters) – Underlying inflation in the euro zone remains sticky and monetary policy needs to be more stubborn than price growth, Bundesbank President Joachim Nagel told Bloomberg TV on Thursday. Nagel said he has yet to make up his mind about the September policy decision but he considers inflation far too high while a recession is still not on the cards. Source link

The full agenda of the Fed’s annual Jackson Hole Symposium will be made available at 6 PM US Mountain Time, which is 8 PM US Eastern time.I gave a heads up on this yesterday, but ICYMI.This year’s topic is ““Structural Shifts in the Global Economy”. More on this:This year’s theme will explore several significant, and potentially long-lasting, developments affecting the global economy. While the immediate disruption of the pandemic is fading, there likely will be long-lasting aftereffects for how economies are structured, both domestically and globally, as trade networks shift, and global financial flows react. Similarly, the policy response to…

Share: All eyes are on the Kansas City Fed’s Jackson Hole Symposium. On Friday, ECB’s Lagarde and the Fed’s Powell will speak. During the Asian session, the Tokyo Consumer Price Index is due. Later in the day, a new reading of German GDP and the IFO survey will be released, and later the University of Michigan’s Consumer Sentiment report. Here is what you need to know on Friday, August 24: After a brief correction, the US Dollar Index bounced back and climbed above 104.00, reaching its highest level since early June. Fundamental factors, risk aversion, and higher US…