Author: FX
AUD/USD climbs for the fourth straight day, buoyed by a weaker US Dollar and rising expectations of a September Fed rate cut.Markets are fully pricing in a 25 basis point rate cut by the Reserve Bank of Australia (RBA) on August 12, which would bring the cash rate down to 3.60%.All major Australian banks including ANZ, CBA, NAB and Westpac expect further easing, with year-end rate forecasts around 3.35%.The Australian Dollar (AUD) is consolidating gains against the US Dollar (USD) on Friday, buoyed by weakness in the Greenback amid growing expectations that the Federal Reserve (Fed) will cut interest rates…
The EURUSD began its upside move last Friday after finding support at the 100-day moving average, which served as a strong base for buyers. That momentum extended into this week, with the pair breaking above the 200-hour moving average and the 38.2% retracement (1.1558) of the decline from the July high. The bullish move continued past the 50% midpoint at 1.16098, confirming increased control by buyers.On Thursday, the pair peaked just shy of 1.1700, a natural resistance level, before pulling back to retest the 50% retracement. Buyers held that line, reinforcing the bullish bias. While Friday’s high fell short of…
The Dow Jones rose slightly on Friday to close out the week on the high side.Equities wrestled with tariffs, earnings and geopolitical headlines this week.Indexes recovered their footing after a choppy midweek pullback.The Dow Jones Industrial Average (DJIA) found a bit of room on the high side on Friday, adding a little over 200 points to close out a back-and-forth week. United States (US) President Donald Trump’s long-awaited tariffs have come into effect, and markets are either bracing for fallout or hoping for another delay, in equal parts.Despite recently tapping record highs near 45,130, the Dow Jones is struggling to…
The Canadian Dollar caught an early decline on Friday, but Greenback declines are squaring Loonie positioning.Canada shed jobs in July after the pace of hiring declined faster than expected.Coming up next week: US CPI inflation figures to dominate market sentiment early.The Canadian Dollar (CAD) stumbled on Friday, falling against the US Dollar (USD) before broad-market Greenback sentiment overtook Loonie positioning to chip away at the USD’s late-week strength. Canadian jobs data came in far below expectations, kicking the legs out from beneath Loonie bulls before general market sentiment continued forcing the US Dollar lower and giving the CAD a mulligan…
The GBPUSD bottomed this week on Tuesday near 1.32594. The Bank of England on Wednesday cut rates by 25 basis points but it was a hawkish cut as the MPC vote was 5– 4, not as high as the 7-2 expected.The price moved up to the 100 day moving average on Wednesday. On Thursday, the price extended higher and away from that moving average and today, a new high was made just short of that 50% midpoint target. The current price is trading just off the high at 1.3446, setting up next week for traders to either push lower against…
From Bloomberg:The Trump administration suggested it would issue a new policy clarifying that imports of gold bars should not face tariffs, after the government stunned traders by ruling that they would be subject to duties.Comex gold futures surged to a new all-time high earlier in the day, but has since come off. The recent news sent the price down to test the rising 100-hour MA at $3446.10, but buyers have against the level and pushed the price back higher price and string $3464. This article was written by Greg Michalowski at investinglive.com. Source link
USD/CHF trades below 0.8100, stuck in a narrow range amid cautious sentiment.Risk-on mood driven by strong global equities dampens safe-haven demand for CHF.US imposes new import tariffs on 1kg and 100oz Swiss Gold bars, rattling bullion markets.The Swiss Franc (CHF) remains subdued against the US Dollar (USD) on Friday, with USD/CHF hovering in a familiar range established this week, as traders weigh the latest US tariff decision targeting Swiss Gold exports and its potential fallout on Switzerland’s economy and trade relations.At the time of writing, the pair is trading around 0.8080, struggling to break out decisively in either direction amid…
Gold spot steady at $3,397, while Comex futures hit all-time high on US import tariffs.The Financial Times reports US imposed duties on one-kilo Gold bars, citing Customs & Border Protection letter.Markets price in 25 bps Fed cut in September after weak NFP and soft ISM Services PMI employment data.Upcoming US data: CPI, PPI, Retail Sales, Jobless Claims, UoM Sentiment, and multiple Fed speakers.Gold Price steadies in the spot markets, yet the futures reached a record high of $3,534 on reports that the United States (US) will apply tariffs on imports of Gold bars. Besides this, market players continued to digest…
Gold edges lower after hitting a two-week high of $3,409 on Friday.Gold futures soar to record highs after US imposes tariffs on 1-kg and 100-oz Gold bars.Technicals show Gold struggling below $3,400 but holding above key moving averages.Gold (XAU/USD) is trading slightly lower on Friday after peaking at $3,409 earlier in the day, its highest level in two weeks amid a cautious market mood. At the time of writing, the metal is hovering near $3,400 during the American trading session and is on track to post modest weekly gains of around 1%.The precious metal remains underpinned by concerns over the…
Trump administration eyes military action against some cartels Source link