Author: FX

Gold (XAU/USD) advances modestly on Friday as traders seem to book profits ahead of the weekend, yet clings to gains of over 0.51% after reaching a seven-week high of $4,353. At the time of writing, XAU/USD trades at $4,302 as traders digest comments from Federal Reserve (Fed) officials.Bullion trims gains ahead of the weekend, but remains supported by Fed uncertainty, weak dataThe US economic docket was light, yet Federal Reserve officials crossed the wires. Two of the three dissenters expressed concerns about inflation remaining too high, specifically amid a period of scarce economic data, particularly the Consumer Price Index (CPI),…

Antonio BordunoviSeeking Alpha’s roundup of statements, announcements, and remarks that could impact markets, sectors, or individual stocks. Nvidia (NVDA) is reportedly eyeing boosting production capacity for its H200 AI chips due to strong demand for the product in China. Leading Chinese Source link

The Dow Jones Industrial Average (DJIA) retreated from record intraday highs on Friday alongside its major index peers as investors continued rotating out of technology and into value-oriented sectors. The Dow briefly hit a new intraday record before pulling back 0.30%. Despite some deflation in the US tech space in the back half of the trading week, the Dow is on pace to finish the week on a high note, up 1.26% from Monday’s initial bids.The S&P 500 (SP500) fell 0.8%, and the Nasdaq also dropped 1.3%, weighed down by a sharp 10% decline in Broadcom (AVGO) following concerns about…

Bullish Momentum Extends for a Third WeekThe AUDUSD moved higher for the third consecutive week, extending to its highest level since September 17th. This upside momentum began after the pair bottomed on November 21 near the high of a swing area between 0.6407 and 0.6424.During this run, the pair successfully cleared a series of critical technical hurdles, including:The 200-day and 100-day Moving Averages.The 50% retracement level.The 61.8% retracement at 0.6597.The Current Range: Resistance vs. SupportThis week, the price extended above a swing area between 0.66247 and 0.6635, reaching a weekly high of 0.66845. However, buyers ran out of steam just…

The Australian Dollar (AUD) holds firm against the US Dollar (USD) on Friday as traders look past this week’s Reserve Bank of Australia and Federal Reserve (Fed) monetary policy announcements and reassess the near-term interest-rate outlook. At the time of writing, AUD/USD is trading around 0.6656, stabilising after a short-lived dip toward 0.6632.The Reserve Bank of Australia (RBA) held its cash rate steady at 3.60%, marking a third consecutive pause while signalling a cautious, data-dependent stance amid lingering inflation risks. By contrast, the Federal Reserve delivered a 25 basis point (bps) rate cut, lowering the Federal Funds Rate to the…

A Strong 3-Week RecoveryThe NZDUSD is up for the third week in a row after bottoming on November 21 at 0.55758. The move to the upside has taken the pair to a high this week of 0.5830, representing a significant recovery over the last 16 trading days:The Technical Battle: 100-Day Moving AverageThis week’s rally briefly extended above the 100-day moving average at 0.58025—the first time price has traded above this level since September 18. However, the momentum hit a wall near a cluster of key resistance levels.Where Sellers Stepped In: The run to the upside stalled near the low of…

Pound Sterling drops as UK GDP shrinks for second straight monthThe Pound Sterling (GBP) faces selling pressure against its major peers on Friday following the release of the United Kingdom (UK) Gross Domestic Product (GDP) data for October. The GDP report showed that the economic growth contracted again by 0.1%, missing expectations of a 0.1% expansion. Read More…GBP/USD steadies at fresh near-term highsGBP/USD is holding firmly in bullish territory heading into the tail end of the week, but Cable bidders ran into a technical resistance point at the 1.3400 handle on Thursday. The Federal Reserve (Fed) delivered a third straight interest rate cut…

With the Dow industrial average down -0.47%, the S&P down -1.36% and the NASDAQ index down -2.0%, the European declines today are modest. The UK’s FTSE 100 led the declines, likely weighed down by earlier reports that the UK economy unexpectedly shrank in October.A snapshot of the closing levels shows the:European Market Close SummaryIndexCountryLast PriceChange% ChangeDEU40 (DAX)Germany24,211.36-83.26-0.34%CAC40France8,068.62-17.15-0.21%UKX (FTSE 100)UK9,649.02-54.15-0.56%FTMIBItaly43,513.94-188.06-0.43%IBEX 35Spain16,854.40-28.60-0.17%Key Drivers for the Day:UK Weakness: The FTSE 100 underperformed its peers (-0.56%) after data revealed the UK GDP contracted by 0.1% in October, dampening investor sentiment despite expectations of a Bank of England rate cut next week.Broad Tech Pressure: The…

SNB Policy: Rates on Hold, “Expansive” Stance RemainsThe Swiss National Bank (SNB) kept rates unchanged earlier this week at 0.0%. Following the decision, comments from SNB Chairman Martin Schlegel—combined with technical resistance—helped push the USDCHF lower (strengthening the CHF).Key Takeaways from Chairman Schlegel:Policy Stance: Schlegel stressed that the current stance remains “expansive” and supportive of growth.Inflation Outlook: Midterm inflation pressures are essentially unchanged. He downplayed recent softer inflation readings, expecting inflation to rise gradually as accommodative policy and growth prospects take effect.FX & Rates: Low interest rates remain effective via the exchange rate. The SNB stands ready to intervene in…

EUR/USD holds firm at around 1.1741 on Friday, virtually unchanged, amid a parade of Federal Reserve (Fed) officials crossing the wires, following last Wednesday’s 25 basis points rate cut.EUR/USD tilted to the upside despite hawkish Fed comments tempering dovish expectationsDespite cutting rates, the Fed hinted that it would pause its easing cycle, entering a wait-and-see period as it digests delayed economic data due to the US government shutdown.In the meantime, Cleveland Fed Beth Hammack was hawkish, saying that “price pressures have been too high,” adding the Fed’s commitment to achieve inflation 2% goal. She added that the Fed decision was…