The Pound Sterling rises to near 1.3450 amid risks of a likely US government shutdown. US Democrats want Republicans to undo cuts in the healthcare budget. BoE’s Ramsden argues in favor of interest rate cuts to support weakening job demand. The Pound Sterling (GBP) extends its upside to near 1.3450 against the US Dollar (USD) […]
Kansas City Fed President and CEO Jeffrey Schmid, who supported the latest Federal Reserve rate cut, said on Thursday that the current policy stance was appropriate to strike a balance between maintaining price stability and as an insurance against any substantial weakening in the labor market in the coming months. Last week, the Federal Reserve
The Organisation for Economic Co-operation and Development said in a report on Tuesday that the full impact of the massive hike in trade tariffs announced by the U.S. is yet to be felt though early effects are becoming increasingly evident. In the interim outlook report, the Paris-based think tank raised the global growth forecast to
Gold extends its record run, hitting a fresh all-time high of $3,791 on Tuesday. Geopolitical tensions continue to fuel safe-haven flows, keeping Gold demand elevated. Fed Chair Jerome Powell cautioned that “two-sided risks mean there is no risk-free path,” describing policy as “modestly restrictive.” Gold (XAU/USD) pushes deeper into uncharted territory on Tuesday, climbing to
St. Louis Fed President Alberto Musalem explained on Monday that he backed last week’s rate cut, describing it as a precaution to safeguard the job market. At the same time, he cautioned that with inflation still running above the Fed’s 2% goal, there might not be much room left for further cuts. Key Quotes He
In a widely expected move, the Federal Reserve on Wednesday announced that it has decided to lower interest rates by a quarter point, marking the first rate cut of 2025. The Fed said it decided to lower the target range for the federal funds rate by 25 basis points to 4.0 percent to 4.25 percent,
Gold trades just shy of record highs on Monday, edging higher after last week’s all-time peak near $3,675. The Fed’s monetary policy decision on Wednesday dominates market sentiment, with a 25 bps cut seen as certain. XAU/USD continues to trade sideways with the 21-SMA providing short-term support. Gold (XAU/USD) kicks off the week on a
Gold consolidates near $3,650, holding in a narrow range after this week’s record high near $3,675. Safe-haven demand remains strong, driven by global trade tension and geopolitical risk. Markets have fully priced in a 25 bps cut at the Fed’s September 17 meeting, a +90% probability says CME Fedwatch Tool. Gold (XAU/USD) is trading with
Dollar dipped briefly in early American session while U.S. futures rebounded after producer price data showed cost pressures easing modestly. The report emboldened bets on further Fed easing, with odds of a 50bps cut next week edging up to 10% and expectations for a back-to-back October move climbing back toward 80%. Still, traders appeared reluctant
Gold steady near $3,650, close to its record high after near $3,675 seen on Tuesday. US PPI fell 0.1% MoM in August, after a downwardly revised 0.7% gain in July and below forecasts of a 0.3% increase. Technicals continue to show a strong bullish structure, with immediate support at $3,617 followed by $3,556. Gold (XAU/USD)
The Swiss Franc strengthens as USD/CHF drops below 0.8000 to its lowest since late July. Weak US NFP data fuels Fed rate cut bets and triggers broad US Dollar selling. Focus now shifts to next week’s US CPI report, a key test for Fed expectations. The Swiss Franc (CHF) gains ground against the US Dollar
EUR/USD holds steady above 1.1700 as the US Dollar stabilizes after earlier weakness. Eurozone PMI readings indicate resilience, with manufacturing in expansion for a second consecutive month. Diverging policy paths keep the EUR/USD biased higher, as the ECB keeps policy steady while the Fed prepares to ease. The Euro (EUR) is struggling to extend its
Gold prolongs its uptrend and climbs back closer to the all-time peak on Monday. Fed rate cut bets keep the USD depressed and benefit the non-yielding commodity. Escalating geopolitical tensions also lend support to the safe-haven XAU/USD pair. Gold (XAU/USD) maintains its strong bid tone through the first half of the European session on Monday
Since the start of the week the NASDAQ and the S&P500 have moved higher. We are to review the release of the Fed Chair Powell’s speech on Friday, the upcoming earnings report from Nvidia, the issues surrounding the Fed’s independence and are to conclude the report with a technical analysis of S&P 500’s daily chart.
USD/CAD remains under pressure as Fed’s Powell signals that he is open to monetary policy adjustments. Fed Powell’s dovish interest rate guidance has battered the US Dollar. Investors await US Durable Goods, PCE inflation, and Canada’s GDP data. The USD/CAD pair struggles for a firm-footing during the Asian session on Monday after sliding almost 0.8%
The US Dollar (USD) retains a firm undertone in quiet trade ahead of Powell’s remarks at 10ET. A rebound in risk appetite is giving a mild boost to EM FX, however, with the ZAR, KRW and MXN outperforming the core majors and the USD, Scotiabank’s Chief FX Strategists Shaun Osborne and Eric Theoret note. USD
Gold price recovers slightly from a nearly three-week low amid reviving safe-haven demand. Diminishing odds for a jumbo Fed rate cut underpin the USD and might cap the commodity. Hopes for a Russia-Ukraine peace deal could also act as a headwind for the XAU/USD pair. Gold (XAU/USD) sticks to its modest intraday gains through the
