ADP report shows that private hiring in September plunged, reinforcing bets for a Fed rate cut later this month. US government shutdown delays Nonfarm Payrolls release, weighs on markets but support flows into Gold. Treasury yields tumble and US Dollar softens, creating a favorable backdrop for bullion’s rally toward fresh record highs. Gold price surges […]
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)
Core PCE inflation remains under 3%, boosting the probability of Fed rate cuts to nearly 90% into year-end. Dovish Fed voices highlight a fragile labor market, and Barkin warns that inflation and unemployment trends remain concerning. Euro steadies despite NATO–Russia tensions, with traders eyeing US jobs data and upcoming Eurozone inflation prints. EUR/USD recovers on
US Dollar bounces from three-year lows after Fed cut, supported by rising US Treasury yields late in the week. Fed officials Daly and Kashkari offered cautious tones, while Miran reaffirmed his preference for deeper easing. French spending cut protests pressure Macron’s new PM, adding political headwinds for the Euro. EUR/USD edges lower on Friday, late
Euro retreats as Powell signals cautious stance despite 25 bps Fed cut. US Jobless Claims dip and Philly Fed survey beats forecasts, reinforcing Dollar strength in post-FOMC trading. ECB officials strike a neutral tone, saying rates are appropriate, with balanced inflation risks but weaker growth outlook. EUR/USD retreats after reaching a yearly high above 1.1900
Bank of Canada (BoC) Governor Tiff Macklem addressed reporters’ questions, offering insights into the central bank’s monetary policy outlook. His remarks came after the BoC lowered its interest rate by 25 basis points to 2.50%, a move that markets had broadly anticipated. BoC press conference key highlights Wage growth continued to ease. The preferred core
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
Christine Lagarde, President of the European Central Bank (ECB), explains the ECB’s decision to leave key rates unchanged at the September policy meeting and responds to questions from the press. Join our ECB Live Coverage here ECB press conference key takeaways “Growth shows resilience of domestic demand.” “GDP data reflects Q1 front-loading.” “Investment should be
Gold extends record-breaking rally to a fresh all-time high near $3,675, trading around $3,650 on Tuesday. Markets fully price in a September Fed rate cut after weaker-than-expected NFP, with a 25 bps move seen as certain. XAU/USD is consolidating just below record highs on the 1-hour chart, with RSI divergence signaling momentum fatigue. Gold (XAU/USD)
The Canadian Dollar snapped it’s recent win streak against the US Dollar on Monday. Both Canadian and US markets are dark for the long weekend holiday. September opens up with an early flash of potential Loonie weakness. The Canadian Dollar (CAD) eased lower against the US Dollar (USD) on Monday, albeit on notably weak market
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
Australian Dollar steadies as the US Dollar remains subdued amid rising likelihood of Fed rate cuts. China’s Caixin Manufacturing Purchasing Managers’ Index climbed to 50.5 in August from 49.5 in July. San Francisco Fed President Mary Daly said that policymakers are preparing to lower interest rates soon. The Australian Dollar (AUD) maintains its position after
The Dow Jones eased lower on Friday, testing below 45,500. Equities recoiled after US PCE inflation metrics rose in-line with forecasts. Despite fresh inflation pressure, markets are still banking on a September rate cut. The Dow Jones Industrial Average (DJIA) softened on Friday, easing back below 45,500 as stocks retreated due to another uptick in
Annual inflation in the United States (US), as measured by the change in the Personal Consumption Expenditures (PCE) Price Index, held steady at 2.6% in July, the US Bureau of Economic Analysis reported on Friday. This print came in line with the market expectation. The core PCE Price Index, which excludes volatile food and energy
Australian Dollar declines despite stronger Monthly CPI data. Traders remain cautious after President Trump warned of a 200% tariff on Chinese goods. Trump has indicated that White House economist Stephen Miran could be considered for Fed Governor Lisa Cook’s seat. The Australian Dollar (AUD) struggles following the release of the Monthly Consumer Price Index (CPI)
Gold prices rallied sharply after Powell’s dovish tone highlighted employment risks despite persistent upside risks to inflation. Traders priced in a 90% probability of a 25 basis-point Fed cut, with key data still ahead before September. Next week’s US docket includes Durable Goods, GDP, and the Fed’s preferred inflation gauge, the Core PCE Price Index.
