As the US core PCE reading for July revealed a 2.6% increase in prices year over year, in line with expectations but slightly below estimates, the markets reacted by pushing gold prices below $2,500. The headline PCE came in at 2.5% year over year, falling short of the projected 2.6% rise. This data led to
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In Friday’s early Asian session, the EUR/USD pair was seen trading stronger near 1.1080. This recovery came after the US Gross Domestic Product (GDP) growth rate rose at an annual rate of 3.0% in the second quarter (Q2). This figure surpassed expectations and the initial estimate of 2.8% which was released by the Department of
The NZD/USD pair has been showing strength around 0.6280 in the early Asian session, marking a 0.57% increase for the day. One of the key factors influencing this movement is New Zealand’s Business Confidence, which has surged to the highest level in a decade based on the recent ANZ Business Outlook survey. This positive outlook
The Indian Rupee (INR) is under pressure in Wednesday’s early Asian session due to weakening in Asian peers and month-end USD demand. The local currency is also impacted by US Dollar (USD) demand from importers. Despite these challenges, positive domestic markets and Federal Reserve (Fed) Chair Jerome Powell’s dovish comments at the recent Jackson Hole
In Tuesday’s early Asian session, the Indian Rupee weakened due to month-end USD demand and higher crude oil prices. Traders are closely watching the US August CB’s Consumer Confidence ahead of key events later in the week. Anuj Choudhary, Research Analyst at Sharekhan by BNP Paribas, predicts that the rupee will trade with a slight
The Dow Jones Industrial Average soared to new heights on Monday, showcasing bullish momentum in the U.S. stock market. However, the enthusiasm was not shared by the tech sector giants, as the S&P 500 and Nasdaq experienced slight dips in performance. Despite this mixed finish, there is a silver lining to be noted – a
The S&P 500 saw a recovery after a weak Thursday close, with indications pointing towards interest rate sensitive plays outperforming largecaps on Friday. This trend was expected to continue throughout the week, driven by stable interest rates and growing confidence in a soft landing. However, this positive outlook came at the expense of the dollar,
When it comes to trading foreign exchange, it is important to understand that there is a high level of risk involved. The use of margin can amplify these risks, meaning that you could potentially lose more money than you initially invested. This is not suitable for all investors, as the possibility of sustaining a loss
The AUD/USD pair experienced a drop, adjusting to 0.6950, as a result of a USD recovery after a 2% rally in the last sessions. The narrative of monetary policy divergence between the Federal Reserve (Fed) and the Reserve Bank of Australia (RBA) has been a key factor in driving the pair. The less assertive approach
The Australian Dollar is expected to continue its upward trajectory as indicated by the RBA Minutes, which suggest that current cash rates will remain in place for the foreseeable future. This indicates a level of stability in the Australian economy which is likely to attract investors looking for safe havens amidst global economic uncertainty. On
The USD/CHF pair is currently trading around 0.8620 in the early European trading hours, marking the third consecutive day of negative territory. One of the primary factors influencing this downward trend is the weakening US Dollar. The anticipation of three quarter-point rate cuts by the Federal Reserve this year has contributed to the bearish sentiment
The New Zealand Dollar has gained momentum in Tuesday’s Asian session, with positive risk sentiment weighing on the US Dollar and lifting NZD/USD. This increase in strength comes as investors await the PBoC rate decision ahead of Fedspeak on Tuesday. The People’s Bank of China (PBOC) recently left the one-year and five-year Loan Prime Rates