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The dollar index extended its strong rally on Monday, following a 0.8% advance on Friday and starting the week with a higher gap opening. Upbeat May NFP numbers on Friday reinforced the hawkish stance, indicating that the Fed…
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The Euro opened significantly lower on Monday, hitting a one-month low and extending Friday's 0.8% decline, which was the largest single-day loss since April 12. This drop in the Euro was influenced by much higher than expected US…
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During European trading on Friday, the price of gold experienced a sharp decline following news that China’s central bank had halted gold purchases last month after acquiring the yellow metal for 18 consecutive months. The…
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USD/CHF remains on the back foot, hitting a new multi-week low early Friday as markets await the release of the US jobs report for May. The recent bearish move from 0.9158 (the lower top on May 24) has found solid support in the…
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The European Central Bank delivered its first interest rate cut since 2019 today, signaling progress in its ongoing effort to bring inflation down to its 2% target, while acknowledging that the battle is far from over. The ECB…
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Cable is consolidating just below a new multi-week high of 1.2817, with near-term action supported by the rising 10-day moving average (1.2758) and poised for a fresh push higher to challenge the 2024 high of 1.2893. Daily moving…
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The Euro edged higher on Thursday morning, partially reversing a two-day pullback from a new multi-week high at 1.0915. However, today's action has been choppy and directionless as traders await the European Central Bank's (ECB)…
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The dollar index surged on Wednesday, driven by much stronger than expected US services PMI data (May 53.8 vs 51.0 forecast and April 49.4). This data indicated a return to growth in the services sector, with the May figure reaching a…
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Gold prices edged higher early Wednesday, rebounding from the lower boundary of their near-term range. However, the metal remains directionless as markets await fresh cues from key economic events this week. Conflicting…
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WTI oil prices remain in a steep decline for the fifth consecutive day, falling over 1% and hitting a new four-month low in early Tuesday trading. This follows a 3.8% drop on Monday, the largest daily fall since November 16. The market…
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