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 […]
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
Alibaba lifts guidance on AI spending above $53 billion, three-year plan announced in February. BABA shares traded above $178 for the first time since October 2021. Shares of BABA have risen 107% YTD on Wednesday. Alibaba’s long bear market ends as 100-week moving average supersedes 200-week counterpart for first time in more than three years.
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
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
GBP/USD sinks below 1.3500 as ‘King Dollar’ regains strength post-Fed The British Pound (GBP) is under heavy pressure from the ‘King Dollar’ on Friday, down 0.52% even though the docket in the US is absent, with just Federal Reserve (Fed) officials crossing the newswires. UK data, although positive, failed to underpin Sterling in Retail Sales.
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
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
USD/CHF up 0.12% but trades below 20- and 50-day SMA confluence at 0.8019/23, keeping sellers in control. RSI bearish but flat, suggesting near-term consolidation unless breakout above 0.8000 or drop below 0.7900 occurs. Upside targets include 0.8025 and 100-day SMA at 0.8109; downside risks point to yearly low at 0.7872. USD/CHF advanced during the North
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
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)
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)
AUD/USD hits 0.6588 peak after US adds just 22K jobs in August, well below 75K forecast. Unemployment rate rises to 4.3% as wage growth steadies; traders fully price September 25 bps Fed cut. Markets eye US CPI next week, while AUD outlook hinges on China data and domestic consumer sentiment. The AUD/USD rallies to six
EUR/USD climbs 0.37% to 1.1679 as the US Dollar Index dips 0.25% to 98.06 following disappointing US economic releases. JOLTS report shows vacancies fall sharply, layoffs rise; tariffs blamed for worsening US labor market conditions. Eurozone Services PMI misses forecasts at 50.5, while Producer Prices ease, keeping ECB policy outlook cautiously dovish. EUR/USD recovers ground
GBP/USD rebounds from 1.3332 lows 1.3442 as US Dollar slips after Tuesday’s sharp rally above DXY 98.50. US JOLTS report shows July job openings fell sharply, highlighting tariffs’ drag on hiring and manufacturing weakness. UK Services PMI jumps to 54.2, easing fiscal worries, while BoE officials stress inflation risks and policy caution. The GBP/USD advances
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.
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.
