Share: Gold price attracts bids below $1,860.00 after a mild correction in the US Dollar. The US economy remains resilient due to falling inflation, stable labor demand, and robust consumer spending. Fed Kashkari said that current interest rates are not sufficiently restrictive to bring down inflation to 2%. Gold price (XAU/USD) retreats despite the
Share: Pound Sterling finds buying interest while UK recession risks remain intact. UK Manufacturing PMI is expected to contract for the 14th time in a row. UK’s real estate inquiries increase as households see no more increase in mortgage rates. The Pound Sterling (GBP) faces an intense sell-off despite the United States’ core Personal
Share: Markets are digesting the recent PCE numbers. Chicago PMI number deteriorates further. The US Dollar Index clings on to an 11th weekly positive close. The US Dollar (USD) is trying to hold on to another weekly gain, though it looks like either a make-or-break deal. If the US Dollar holds onto gains, this
Share: Mexican Peso appreciates more than 0.60% but fails to break support at the 20-day SMA. Mexico’s economic budget saw increased welfare pensions equivalent to 1.4% of the GDP. USD/MXN consolidates in the mid-North American session at around 17.40s. The Mexican Peso (MXN) remains firm versus the US Dollar (USD) on an improvement
Share: Australian Dollar snaps the losing streak due to a rise in monthly CPI. Australia’s inflation reported a reading of 5.2% as expected, up from the 4.9% prior. US Dollar (USD) trades around 106.30, the highest since December. Upbeat US Treasury yields are contributing support for the Greenback. The Australian Dollar (AUD) looks
Share: Oil (WTI) slides lower and starts flirting with first important support near $88. The US Dollar value keeps increasing as markets price in a possible persistent rate differential between USD and other currencies. Higher Oil prices have negative implications even for Oil producers. Oil prices drop for a second day in a row,
Share: Gold price remains under pressure as the US economy remains resilient despite higher interest rates. The US economy is comfortably absorbing the consequences of the Fed’s higher interest rates. Fed’s Collins says further policy tightening is not off the table. Gold price (XAU/USD) trades back and forth as uncertainty over the interest
Share: Pound Sterling may continue its three-day losing spell further amid uncertainty over the economic outlook. S&P Global reported that UK Services PMI contracted for the second time straight. BoE policymakers shifted focus on the UK’s economic prospects against persistent inflationary pressure. The Pound Sterling (GBP) faces selling pressure as investors start worrying
Share: Gold price trades sideways as uncertainty about the interest rate outlook persists. The Fed kept interest rates unchanged but left doors open for further policy tightening. Unlike other G7 economies, the US remains resilient on the grounds of a strong labor market and upbeat consumer spending. Gold price (XAU/USD) struggles to find
Share: The US Dollar turns choppy as strike risks escalate at biggest US car makers. Traders will likely keep powder dry for the Fed interest rate decision on Wednesday. The US Dollar Index breaks below 105 and rebounce at start US session. The US Dollar (USD) takes a step back ahead of the
