Share: Pound Sterling trades in a tight range as investors eye BoE monetary policy decision for further action. The BoE is expected to keep interest rates unchanged amid easing labor market conditions and subdued retail demand. Deepening Middle East tensions dent demand for risk-perceived assets. The Pound Sterling (GBP) struggles to find a
Share: EUR/JPY trades at 158.06, down 0.48%, as BoJ normalization speculations gain traction. Escalating Middle East conflict bolsters safe-haven assets, including the Japanese Yen. ECB’s decision to hold rates and scaled back positions for further hikes also weighs on EUR/JPY. The Euro (EUR) lost a step against the Japanese Yen (JPY) on Friday,
Share: Gold price rallies to $2000 per troy ounce, bouncing back from daily lows of $1976.97. Escalating Middle East conflict and Israel military expanding its operations in Gaza. Gold price finally broke the $2000 troy ounce barrier on Friday amidst increasing geopolitical risks, as the conflict between Israel and Hamas is at the
Share: Investors face fresh uncertainties. Heightened geopolitical risks underline the merits of diversification, economists at UBS report. Oil and Gold assets will also be supported by market fundamentals Gold closed at a one-month high of $1,981 an ounce on 20 October, and is up around 8.7% over the past two weeks. Brent rose
Share: WTI surged over 5%, trading at $90.87 per barrel, in response to escalating military actions between Israel and Palestine. Israel’s ground offensive in the Gaza Strip triggers a risk-off market mood, boosting safe-haven assets and oil prices. Iran’s Oil Minister predicts crude prices could hit $100 per barrel due to the intensifying
Share: Gold price scales higher for the second straight day and climbs to over a one-week high on Monday. Escalating geopolitical tensions in the Middle East provide a strong lift to the safe-haven XAU/USD. Hawkish Fed expectations, elevated US bond yields underpin the USD and cap gains for the metal. Gold price (XAU/USD)
Share: NZD/USD fills a modest weekly bearish gap opening, though the upside potential seems limited. Geopolitical tensions benefit the safe-haven USD and act as a headwind for the risk-sensitive Kiwi. The uncertainty over the Fed’s rate-hike path caps the USD upside and lends support to the major. The NZD/USD pair attracts some buyers
Share: Mexican Peso gained on Friday but printed more than 4% weekly losses. Mexico’s economic docket will feature inflation data in the next week. USD/MXN set to extend its gains after printing a new cycle high at around 18.48. Mexican Peso (MXN) finished the week with solid gains vs. the US Dollar (USD)
Share: USD/CNH picks up bids to extend week-start rebound despite upbeat China. China Caixin Services PMI for August eases to 51.8 versus 54.1 previous readings. Doubt about China’s capacity to defend economic recovery with stimulus weighs on Yuan as full markets return. Country Garden news, China Commerce Ministry updates prod USD/CNH bulls even
Share: US Dollar Index remains dicey after a downbeat start to the week that snapped two-day winning streak. Mixed US data, unimpressive Fed talks confirms September inaction, odds of witnessing one rate hike in 2023 defend DXY bulls. US Labor Day holiday, China-inspired risk-on mood allowed Greenback buyers to take a breather. US
