Oil tests support as US Dollar strength snaps August rally

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,

Gold outlook dims on hawkish Fed guidance

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

Pound Sterling exposes six-month low as slowdown fears deepen

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

Gold turns choppy amid uncertainty over interest rate peak after stable Fed policy

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

US Dollar races higher as it outpaces battered Euro

Share: The US Dollar is in the green and is set for weekly gains. ECB Lagarde dropped the ball and the Euro got punished.  The US Dollar Index stronger as PPI and Retail sales surprise to the upside. The US Dollar (USD) firmly above 105 in the US Dollarindex (DXY) and has the

Euro puts 1.0700 to the test ahead of US inflation

Share: The Euro trades close to 1.0700 vs. the US Dollar. Stocks in Europe en route to a mixed close on Tuesday. EUR/USD’s upside momentum falters ahead of 1.0770. The USD Index (DXY) regains some balance following Monday’s drop. Germany Economic Sentiment improves a tad in September. The NFIB index came in below estimates in August.