USD/INR drifts lower on improved risk appetite, softer US Dollar – FXStreet
The Indian rupee rose in the early morning session of European markets on Wednesday. Improving risk appetite and a weaker US Dollar support the Indian Rupee (INR). Investors are awaiting U.S. August new home sales on Wednesday and Federal Reserve Chairman Kugler's speech. The Indian Rupee (INR) edged higher on Wednesday. Improved risk appetite following […]
Australian Dollar pares gains following the Monthly Consumer Price Index – FXStreet
The Australian dollar is holding firm on the back of new Chinese economic stimulus measures. Australia's monthly consumer price index rose 2.7% year-on-year in August, below the expected 2.8% increase and the previous 3.5% increase. The People's Bank of China's Gongsheng Bank said it would cut the reserve requirement rate by 50 basis points and […]
Gold price stands tall near record high, overbought RSI warrants caution for bulls – FXStreet
Gold prices are supported by dovish Fed expectations and geopolitical tensions. The upbeat mood in the market does little to diminish the strong underlying bullish mood. Traders are awaiting speeches from Fed officials and U.S. PCE data for any new stimulus. Gold prices (XAU/USD) rose to around $2,664-2,665 on Tuesday, hitting yet another record high […]
US Dollar declines after weak data, Fed battles against dovish bets – FXStreet
The DXY fell, dropping to 100.60. The Conference Board's September consumer confidence index came in below expectations. Fed chairs are currently battling dovish market expectations. The US Dollar Index (DXY), which measures the greenback's value against a basket of six currencies, recorded a slight decline on Tuesday after the release of The Conference Board's consumer […]
RBA’s Bullock: Rates to remain on hold for time being – FXStreet
Reserve Bank of Australia (RBA) Governor Michelle Bullock was speaking at a press conference following the release of the September monetary policy decision on Tuesday. Blok was answering questions from the media as part of a new reporting format the central bank is introducing this year. At its September policy meeting, the Reserve Bank of […]
Japanese Yen holds ground despite increasing doubts over BoJ rate hikes – FXStreet
The Japanese yen has weakened slightly as the Bank of Japan is in no rush to raise interest rates. Japanese Finance Minister Suzuki said he expected the Bank of Japan to adopt appropriate monetary policy measures. Minneapolis Fed President Neel Kashkari believes additional interest rate cuts should and will come in 2024. The Japanese Yen […]
Gold price consolidates near all-time peak, holds comfortably above $2,600 mark – FXStreet
Gold prices are taking a breather after soaring to a new all-time high on Monday. The fundamental backdrop is favorable for bullish trading and supports the prospects of further gains. Traders are now focusing on Friday's US PCE price index before determining direction. Gold prices (XAU/USD) remain slightly overbought on the daily chart on Tuesday, […]
Australian Dollar stays strong while markets brace for RBA – FXStreet
The RBA's policy outlook has seen the Australian dollar strengthen against the US dollar. The RBA is expected to keep interest rates unchanged at 4.35%. US S&P Global PMI data showed mixed results during the European session. On Monday, the AUD/USD pair rose 0.40% to $0.6835 by the close of trading on the 10th US […]
Gold climbs to record highs as geopolitical risks boost safe-haven flows – FXStreet
Gold prices traded in positive territory in the early morning European session on Monday. Federal Reserve interest rate cuts and geopolitical risks in the Middle East continue to support precious metals. Renewed demand for the US Dollar may limit the upside of XAU/USD. Gold prices (XAU/USD) hit a record high on Monday, supported by a […]
GBP/USD weakens below 1.3350, UK/US PMI data in focus – FXStreet
In the Asian session on Monday, GBP/USD was trading weakly around the 1.3310 level. If expectations grow that the Fed will cut interest rates further later this year, the value of the U.S. dollar could fall. Attention will be on provisional UK/US PMI data for September on Monday. The GBP/USD pair fell to 1.3310, halting […]