FX

Share: Gold price regains positive traction and remains within the striking distance of a one-month top. Expectations that the Federal Reserve is down with its rate-hiking cycle underpin the XAU/USD. A positive risk tone might hold back bulls from placing aggressive bets and cap any further gains. Gold price attracts fresh buying on the first

Share: Asian stock markets trade mixed on Thursday ahead of the US inflation data.  Chinese Manufacturing and Service PMI deteriorated further in August.  Bank of Japan (BoJ) policymaker said that they need more time to transition to monetary tightening.  Investors will focus on the US inflation and labor data later in the day.  Asian stock

Share: GBP/USD falls 0.18%, as concerns over global business activity and China’s real estate market woes fuel a risk-off environment. US Dollar Index (DXY) advances 0.19% to around two-month highs, buoyed by Powell’s hawkish remarks on inflation and rate hikes at Jackson Hole. Mixed US economic data, including lower-than-expected Initial Jobless Claims, adds complexity to

Share: USD/INR trades with a negative bias for the third successive day on Wednesday. A modest USD selling is seen as a key factor acting as a headwind for spot prices. The technical setup still supports prospects for the emergence of some dip-buying. The USD/INR pair struggles to capitalize on the previous day’s late rebound

Share: GBP/USD retreats from daily highs and losses for the second day in the week but remains set to finish the week on a higher note. Retail Sales in the United Kingdom (UK) were softer, but most data supports the Bank of England’s (BoE) case for a rate hike at its upcoming meeting. The GBP/USD is trading

Share: GBP/USD struggles to cheer US Dollar’s retreat near 1.2700 ahead of UK employment, US Retail Sales data GBP/USD sticks to mild gains around 1.2700 as market players brace for the top-tier UK/US statistics on early Tuesday. That said, the Cable pair recently bounced off the lowest level in 1.5 months amid the US Dollar’s

Share: GBP/USD remains on the defensive below the 1.2700 area, UK GDP eyed The GBP/USD pair remains on the defensive around 1.2680 during the early Asian session on Friday. Market participants turn cautious ahead of the top-tier economic data released from the UK and US. Market players anticipated that the UK could avoid the recession

Share: USD/CAD consolidates in a range around the 50% Fibo. through the Asian session on Monday. The fundamental backdrop favours bullish traders and supports prospects for additional gains. A sustained break below the 1.3225 area is needed to negate the near-term positive outlook. The USD/CAD pair kicks off the new week on a subdued note

Share: GBP/USD bears occupy driver’s seat at three-week low despite latest inaction. Indecision between BoE’s 0.25% and 0.50% rate hike keeps Cable traders on sidelines of late. Fears of UK recession, bullish bias about US Dollar and firmer yields weigh on Pound Sterling price. US ISM Services PMI, clues for Friday’s NFP also eyed for

Share: GBP/USD bears eye a 50% mean reversion if not the 61.8%ratio. The 4-hour W-formation neckline support has a confluence with the 78.6% Fibonacci.  GBP/USD ended at around 1.2840 on Friday after reaching its lowest level since July 6 while investors remain concerned that the hawks will continue to circle over the Federal Reserve following

Share: Silver edges higher during the Asian session, though the downside remains cushioned. Traders now seem reluctant to place aggressive bets ahead of the key FOMC decision. The mixed technical setup further warrants some caution before placing directional bets. Silver struggles to capitalize on the previous day’s goodish rebound from the $24.30-$24.25 area, or a

Share: Japan’s Consumer Price Index (CPI) for June reports a YoY increase of 3.3%, slightly above the previous 3.2% figure, but falls short of the anticipated 3.5%. Reuters report on BoJ’s monetary stance causes USD/JPY to break away from the 140.00 range seen through most of the Asian session. The USD/JPY uptrend could continue based

Share: Gold price attracts some buying on Tuesday, albeit lacks bullish conviction. A modest US Dollar weakenss is seen lending support to the precious metal. The uncertainty over the Fed’s rate hike path caps gains for the XAU/USD. Gold price builds on the overnight bounce from the $1,946-$1,945 area, or a multi-day low and gains

Share: “China has not seen deflation, no deflationary risks in the second half of 2023 (H2 2023),” per the latest comments from People’s Bank of China (PBoC) Deputy Governor Guoqiang Liu. The PBoC official also mentioned that the Consumer Price Index (CPI) could decline further in July before improving in August. “Central Bank has ample tools,”

Share: USD/CAD gains some positive traction on Monday and draws support from a combination of factors. A downtick in Oil prices undermines the Loonie and acts as a tailwind amid reviving USD demand. The fundamental backdrop, however, warrants some caution before placing aggressive bullish bets. The USD/CAD pair attracts some buying on the first day

Share: Gold price regains some positive traction on Thursday and recovers a part of the overnight losses. A generally weaker risk tone benefits the safe-haven XAU/USD, though the upside seems limited. Hawkish major central banks might hold back bulls from placing aggressive bets around the metal. Gold price attracts some dip-buying during the Asian session

Share: EUR/GBP slides as UK bond yields surpass German bond yields, strengthening the Pound. From a technical perspective, the pair exhibits a neutral to downward bias, with long-term daily EMAs standing above exchange rates. The EUR/GBP must regain the 0.8600 level and surpass the May 24 daily low resistance of 0.8648 to shift its bias.

Share: WTI remains pressured around weekly low after welcoming bears the previous day. Cautious optimism about China, receding fears of Russia-induced supply crunch fears weigh on Oil price. Anxiety ahead of top-tier central bankers’ speeches, weekly Oil inventory data also tease energy bears. WTI crude oil remains on the back foot for the second consecutive