Gold price hits a three-day low, retreating post US PCE data – FXStreet
XAU/USD fell to $2,646 after September inflation data suggested progress towards the Fed's 2% target. The US 10-year Treasury yield fell 5 basis points, and the US dollar index fell 0.16% to 100.41. Israel's attack on Lebanon raises geopolitical risks, but gold fails to gain momentum as traders cash in their profits. Gold falls to […]
EUR/USD pares losses as soft US PCE inflation weighs on US Dollar – FXStreet
EUR/USD reversed intraday losses after August US PCE inflation report was softer than expected. France's CPI preliminary figures (EU standards) and Spain's HICP in September were below 2% year-on-year. The ECB increased expectations for a rate cut in October after weaker-than-expected inflation data from France and Spain. EUR/USD recovered most of its intraday losses in […]
Japanese Yen drops as no candidate secures majority in the first round of LDP voting – FXStreet
Japanese yen subsequently recovers daily losses Shigeru Ishiba won the party leadership election and became Prime Minister. The Tokyo Consumer Price Index rose 2.2% year-on-year in September, slowing from the 2.6% rise in August. The US dollar is under downward pressure from dovish Fedspeak. The Japanese yen (JPY) rose after former Defense Secretary Shigeru Ishiba […]
GBP/USD retreats from its highest level since March 2022, slips below 1.3400 mark – FXStreet
GBP/USD has attracted some sellers on Friday, weighed down by the USD's modest strength. Betting that the Fed will make another big rate cut in November will limit any gains. The central bank's relatively hawkish expectations should help limit losses for the currency pair. The GBP/USD pair fell during Asian trading on Friday, moving away […]
Gold price consolidates below record high as traders await US PCE Price Index – FXStreet
Gold prices hit new highs on Thursday on the back of dovish expectations from the Federal Reserve. Amid a risk-on mood and overbought conditions, modest gains in the US dollar are capping gains. Traders are now looking forward to the US PCE price index before betting on the direction. Gold prices (XAU/USD) fell during Asian […]
GBP/USD breaches fresh 31-month high as Pound rally continues – FXStreet
GBP/USD once again pushed to multi-year highs on Thursday. Broad market greenback weakness further boosted cable. Despite the lack of UK statistics, the pound's rise continues unabated. On Thursday, GBP/USD cut another multi-year high, hitting a 31-month high of 1.3434 as cable was pushed to an all-time high by broad market greenback selling. Better-than-expected U.S. […]
EUR/USD rebounds with Fed Powell’s speech on the horizon – FXStreet
EUR/USD consolidated to around 1.1120 before moving higher as the US Dollar struggled to extend its recovery. Fed Chairman Powell's speech will likely provide clues about the size of the rate cut in November. The ECB is likely to cut interest rates for the second time in a row in October. EUR/USD has rebounded to […]
Australian Dollar receives support from divergent policy outlooks between central banks – FXStreet
The Australian dollar strengthened as the RBA and Fed adopted diverging policy outlooks. The RBA's Financial Stability Review suggests that Australia's financial system remains resilient and risks are broadly contained. China plans to inject 1 trillion yuan of capital into its major banks. The Australian dollar (AUD) recovered some of its recent losses against the […]
GBP/USD sheds 1.34 amid Greenback rebound – FXStreet
GBP/USD turned bearish, dropping below 1.34 on Wednesday. The market has scaled back its recent bullish tilt towards the pound. The US dollar recovered as investors considered the current state of the US economy. GBP/USD traded unusually close on Wednesday, dropping sharply below 1.3400 as the broader market retreated from risk appetite. The British pound […]
Japanese Yen remains subdued due to the potential for BoJ to delay rate hikes – FXStreet
The Japanese yen is under downward pressure as traders assess the Bank of Japan's policy outlook. Bank of Japan Governor Ueda suggested the bank would assess market and economic conditions before making any policy adjustments, suggesting there is no urgency to raise interest rates. The US Dollar is facing difficulties due to rising dovish sentiment […]