Gold experienced a retreat after briefly testing the $2,070 level on Friday, just ahead of the pre-holiday close. This pullback comes as rising investor bets of faster and more frequent rate cuts by the Federal Reserve (Fed) have squeezed Gold higher in recent weeks. However, with receding US inflation and a cooling off of the
Forex News
The US Dollar is showing signs of a rebound after experiencing a selloff on Friday. Investors are preparing for the upcoming holiday season, which has contributed to the strengthening of the USD. This recovery comes after a period of decline, with the USD/CAD set to record its fifth weekly decline in six consecutive weeks. In
The Indian Rupee (INR) has traded on the weaker side on Thursday as the USD experiences a modest rebound. The Reserve Bank of India’s (RBI) monthly bulletin has emphasized a strong warning on inflation, stating that if headline retail inflation is not brought down to the medium-term target of 4%, it could impact growth. This
The Australian Dollar (AUD) has seen a resurgence in value as it retraced its recent losses on Thursday. After pulling back from a five-month high at 0.6779, the AUD/USD pair experienced a temporary setback due to improved economic data from the United States (US). However, the Australian Dollar quickly regained ground against the US Dollar
The Japanese Cabinet Office has recently revised its economic growth forecasts for the country, indicating a positive outlook for the next fiscal years. The revised projections suggest that external demand will outweigh sluggish domestic consumption, leading to an estimated growth rate of 1.6% for fiscal year 2023/24, up from the previous estimate of 1.3%. Furthermore,
The USD/CHF pair is experiencing a decline as the US Dollar (USD) moves downward, despite improved US Treasury yields. The 2-year and 10-year yields on United States (US) bond coupons stand higher at 4.36% and 3.86%, respectively. However, the US Dollar Index (DXY) trades around 102.30, indicating that the dovish sentiment surrounding the US Federal
The EUR/USD pair has attracted dip-buying during the Asian session on Thursday, reversing some of the previous day’s retracement slide from the weekly top. Currently trading around mid-1.0900s, the spot prices are up just over 0.15% for the day. This upward movement is driven by a modest downtick in the US Dollar (USD). Investors are
The West Texas Intermediate (WTI) price has experienced a series of challenges in recent weeks, with a notable setback caused by unexpected developments in US Crude inventories. This article delves into the intricacies of the oil market, exploring various factors that have contributed to the fluctuations in WTI price and the consequences of global events
The USD/CAD pair is trading on a softer note during the early Asian session on Thursday. After bouncing off the four-month lows of 1.3310, the pair has rebounded to 1.3350. However, the upside of the US Dollar (USD) may be limited due to the anticipation of three rate cuts from the Federal Reserve (Fed). Investors