Author: FX
Vietnam says more tariff negotiations with US needed Source link
The euro has been sliding against the British pound since mid-April, but EUR/GBP may be nearing a key inflection point that could spark a longer-term bounce. We’re zooming into the 4-hour chart to see if the tides are about to turn! EUR/GBP 4-hour Forex Chart by TradingView Sterling got a boost earlier this week from hotter-than-expected UK inflation, but the rally quickly faded. Some traders locked in profits, while others likely focused on Bank of England (BOE) officials downplaying the staying power of high prices. At the same time, the euro is holding up as a go-to alternative when the…
Gold’s longer-term uptrend is looking pretty steady, but the precious metal is hitting a ceiling at a new downtrend channel forming. Will it retreat again? Take a look at these near-term inflection points I’m watching on the 4-hour time frame: Gold (XAU/USD) 4-hour Forex Chart by TradingView Gold bounced off its long-term rising trend line support earlier this month while markets remain wary of global trade tensions and geopolitical risks. However, price has been forming lower highs and lower lows since mid-April, suggesting weakening upside momentum. XAU/USD is hovering at the top of a descending channel formation around R1 ($3,312.91)…
U.K. inflation surprised to the upside in April, with consumer prices rising at their fastest annual pace since March 2024, driven by higher energy bills and water rates. The headline CPI figure of 3.5% came in above economists’ expectations, who had predicted a rise to 3.3% for the month. The largest upward contributions to the monthly change came from housing and household services, transport, and recreation and culture. This was partially offset by a downward contribution from clothing and footwear. Key Takeaways: Headline CPI rose to 3.5% year-on-year in April, up from 2.6% in March Core inflation (excluding food, energy, alcohol…
U.S. House Rules Committee approves Trump’s tax-cut billSets stage for full House floor vote on the bill This article was written by Eamonn Sheridan at www.forexlive.com. Source link
Risk sentiment took a bearish turn on Wednesday as concerns over U.S. fiscal health ramped up. The S&P 500 fell and Treasury yields jumped after a disappointing 20-year bond auction underscored investor unease about President Trump’s tax cut plans and the ballooning federal deficit. The dollar weakened across the board, slipping against all major currencies despite the rise in yields. Gold gained on safe-haven demand, and Bitcoin broke above $110,000 for the first time ever as traders looked for alternatives to dollar-denominated assets. Here are headlines you may have missed in the last trading sessions! Headlines: CNN reported on US…
USD/CAD trades in negative territory near 1.3855 in Thursday’s early Asian session. Worries about a ballooning US deficit weigh on the US Dollar. The advanced S&P Global Manufacturing and Services PMI reports will be closely watched later on Thursday. The USD/CAD pair extends its downside to around 1.3855 during the early Asian session on Thursday, pressured by a weaker US Dollar (USD). Investors await the advanced S&P Global Manufacturing and Services PMI reports later on Thursday, followed by the Chicago Fed National Activity Index, the usual Initial Jobless Claims and Existing Home Sales. The ‘Sell America’ investment theme continues to undermine the Greenback and…
Trump says he's seriously considering taking Fannie Mae and Freddie Mac public Source link
Via Standard Chartered on gold:Gold remains well supported above its 50-day moving averageWe expect it to test resistance at US$3,5003 month forecast is US$340012 month forecast is US$3500 This article was written by Eamonn Sheridan at www.forexlive.com. Source link
The United States (US) House of Representatives is poised to begin casting votes on the Republican party’s tax and budget bill that is front-loaded with many of President Donald Trump’s wishlist items. President Trump has colloquially refered to the tax and budget bill as a “big, beautiful bill”, leading Congressional Republicans to officially rename the document the “One Big Beautiful Bill Act”.Key Republicans have been hammering on dissidents to the bill within their own party after several hard-line Republicans voiced displeasure with the budget outline: some felt that the budget doesn’t include enough cuts to critical federal spending programs like…