Japanese Yen depreciates as US Dollar holds ground, ADP Employment Change awaited – FXStreet
The Japanese yen fell as the Bank of Japan's opinion summary indicated it intended to maintain an accommodative monetary stance. Japan's Minister of Economy, Trade and Industry Akazawa said Prime Minister Ishiba expected the Bank of Japan to conduct an economic assessment before raising interest rates further. The U.S. dollar has found support as traders […]
GBP/JPY sticks to gains around 191.00, bulls seem non committed amid Middle East tensions – FXStreet
GBP/JPY regained positive traction on Wednesday, but lacked follow-through buying. Uncertainty about the Bank of Japan's rate hike weakens the yen and provides some support to the cross. Geopolitical risks can help limit significant losses for the yen and limit further gains for the yen. The GBP/JPY cross attracted bullish buying during Wednesday's Asian session, […]
Gold price in India: Rates on October 2 – FXStreet
Gold prices fell in India on Wednesday, according to data compiled by FXStreet. Gold price fell at INR 7,161.77 per gram compared to INR 7,186.60 on Tuesday. Gold price fell to Rs 83,533.51 per tola from Rs 83,823.04 per tola the previous day. unit measurement Gold price in INR 1 gram 7,161.77 10 grams 71,617.18 […]
USD/JPY Price Forecast: Forms doji consolidates at around 143.50 – FXStreet
USD/JPY ended unchanged at 143.58, forming a “doji” candlestick, indicating indecision amid geopolitical risks. The RSI suggests a possible consolidation and is expected to trade between 142.98 and 144.53 in the near term. A move above 144.53 could target the 50-DMA at 145.00 and 145.47, while a move below 142.98 reveals the support level at […]
US Dollar Index rises to near 101.00 following Fed Powell remarks to lower rates gradually – FXStreet
The dollar index rose after Fed Chairman Jerome Powell said the central bank would lower interest rates “over time.” The CME FedWatch tool suggests a 61.8% chance that the Fed will cut rates by 25 basis points (bp) in November. The US ISM manufacturing PMI for September is expected to be 47.5, an improvement from […]
Gold price trades with mild positive bias above $2,625-2,624 pivotal support – FXStreet
Gold prices rose on Tuesday, stalling a recent correctional decline from record highs. Bets for further Fed rate cuts and geopolitical risks continue to benefit XAU/USD. Traders are now anxiously awaiting the release of key US macro data in hopes of providing some meaningful stimulus. Gold prices (XAU/USD) rose modestly during Asian trading on Tuesday, […]
BoJ Summary of Opinions: Member indicates readiness to adjust degree of easing if outlook is realized – FXStreet
On September 19th and 20th, the Bank of Japan (BoJ) announced the summary of opinions from the September Monetary Policy Meeting, and the main findings were as follows. main quote Japan's economy is recovering moderately, and prices are steadily rising. Economic activity and prices are generally trending favorably, and moderate growth is expected. There are […]
Gold dims, falls below $2,650 as US Dollar bounces back – FXStreet
Despite falling US bond yields and rising geopolitical risks, gold prices fell for the second day in a row, falling 0.6%. Fed Chairman Jerome Powell hinted at two more 25bps interest rate cuts in 2024, leading to a rally in the US dollar index and weakening gold. Despite the recent decline, gold continued to rise […]
EUR/USD Price Forecast: Flat lines below 1.1200 ahead of German consumer inflation data – FXStreet
EUR/USD lacks solid direction during the day, remaining within the range from a few days ago. The technical setup is mixed, so caution is required before positioning for a short-term trajectory. Traders are eyeing preliminary German CPI numbers for some stimulus ahead of Fed Chairman Jerome Powell's speech. The new week begins on a subdued […]
Gold Price Forecast: XAU/USD edges higher above $2,650 as traders brace for Chinese PMI data – FXStreet
Gold prices rose to $2,665 in early Asian session on Monday. Rising geopolitical tensions in the Middle East and Fed rate cuts are supporting gold prices. Investors are awaiting China's PMI to be released on Monday. Gold prices (XAU/USD) recovered to near $2,665 in early Asian trading on Monday. Precious metals have been buoyed by […]