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Americans may soon regret trusting the Fed and holding cash
Share: Over the longer term, gold and silver aren’t the only assets which have been trading in a range. Stocks have also been struggling to establish a trend either higher or lower over the past 3 years. Demand for publicly traded stocks and demand for physical bullion aren’t always correlated, but
USD/CHF Price Analysis: Bulls approach 0.8800 on mixed Swiss Inflation data, US PMI eyed
Share: USD/CHF remains on the front foot for the sixth consecutive day, clings to mild gains of late. Swiss CPI slides to -0.1% MoM, 1.6% YoY in July. Clear upside break of 21-DMA, bullish MACD signals keep buyers hopeful. May’s bottom lures bulls but 0.8880 is a tough nut to crack for bulls. USD/CH
Pound Sterling remains subdued ahead of BoE monetary policy
Share: Pound Sterling tests crucial support of 1.2700 ahead of BoE’s interest-rate policy. A fat rate hike announcement by the BoE would elevate recession fears in the United Kingdom. UK’s 12-month consumer inflation expectations soften to 4.3%. The Pound Sterling (GBP) continues its two-day losing
USD/JPY Price Analysis: Gains momentum above the 143.60 area amid the stronger Dollar
Share: USD/JPY gains momentum and edges higher to the 143.65 mark. The pair stands above the 50- and 100-hour EMAs with an upward slope. The initial resistance level to watch is 143.80; the first support stop is located at 142.80. The USD/JPY pair extends its upside heading into the early European s
Crude Oil Futures: Further retracements look not favoured
Share: CME Group’s flash data for crude oil futures markets noted traders trimmed their open interest positions by around 15.5K contracts on Wednesday after two consecutive daily builds. On the other hand, volume went up for the second straight session, now by around 144.2K contracts. WTI: The 200-d
EUR/GBP Price Analysis: “Death Cross” lures bears ahead of BoE despite latest inaction near 0.8600
Share: EUR/GBP remains sidelined after refreshing a one-week high the previous day. Bearish moving average crossover teases sellers but three-week-old rising support line can prod downside moves. BoE needs to defy dovish bias to convince EUR/GBP sellers. Five-week-old horizontal resistance challenge
Asia equities mixed, CN Caixin services PMI beats ests, but passenger car sales -5% y/y
Share: Asia Market Update: Asia equities mixed; CN Caixin Services PMI beats ests, but passenger car sales -5% y/y; JP JGBs continue rising and BOJ responds with unscheduled JGB purchases; UK BOE rate decision today. General trend - Asian equities opened generally down, with the Nikkei leading the w
AUD/JPY Price Analysis: Recovers some lost ground near the 94.00 barrier
Share: AUD/JPY attracts some buyers and holds ground near the 94.00 mark on Thursday. The stronger Chinese data offset the disappointing Australian data. AUD/JPY trades within a descending trend channel line from the middle of June. The immediate resistance level is seen at 95.50; the initial suppor
Gold Price Forecast: $1,915 in sight for XAU/USD ahead of key US Data – Confluence Detector
Share: Gold Price seesaws at three-week low after breaking key supports, having wide open space towards the south. Firmer US data, risk-off mood underpin bearish bias about XAU/USD. US ISM Services PMI, Federal Reserve concerns eyed for clear directions. Gold buyers need validation from $1,955 and s
US gets downgraded
Share: Adding to the already existing pressures, as if the market needed any more, Fitch has downgraded US Government debt to AA+, from AAA. The USA is losing its long held safe credit mantle. This is long overdue. Credit agencies are notorious for being slow to act. More may follow. It is simply ir
AUD/USD and Commodities decline as Dollar rally resumes
Traders push back RBA rate hike bets until November WTI and Brent crude implied volatility falls to lowest since 2020 Turkey unloads significant portion of gold holdings The Australian dollar tumbled after the RBA kept rates on hold again and signaled they might be done tightening. Given most econom
Japanese yen extends losses against dollar
The Japanese yen continues to slide and is down 1.41% this week. In Tuesday’s European session, USD/JPY is trading at 143.16, up 0.64%. Dollar/yen powers above 143 The yen continues to lose ground against the US dollar. Earlier in the day, the yen weakened to 143.18, its weakest level against the US
A “data-dependent” RBA does not bode well for Aussie bulls
Australia’s central bank, RBA has kept its policy cash rate unchanged at 4.1% for the second consecutive month. The tonality of the latest monetary policy implies that RBA is now data-dependent, and indirectly acknowledged the negative adverse lagged effects of higher interest rates towards economic
Euro shrugs as eurozone GDP, core CPI accelerate
Eurozone core inflation surprises on the upside Eurozone GDP accelerates to 0.3% The euro is showing little movement on Monday. In the North American session, EUR/USD is trading at 1.1023, up 0.06%. It has been a wild ride for the euro over the past two weeks. On July 18th, EUR/USD hit its highest l
Pull-up Update
