WM MarketsNews & Research Blog - Forex Market Updates & Analysis

USD/JPY fell to a three-week low on Monday, hitting the 76.4% Fibonacci retracement of the 141.68/149.40 corrective upswing, reinforcing signals that the correction within the broader downtrend is nearing completion. Last week’s sharp…
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GBP/USD pulled back from its highest level since March 2022 on Monday, signaling that bulls might take a breather after a 3.6% rally over the past two weeks and a strong bullish surge last Friday (nearly a 1% daily gain). Overbought…
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The EUR/USD broke above the 1.1200 level after a 0.75% rally on Friday—the largest daily gain since August 2—reaching a new high for 2024 early Monday. Bullish momentum remains strong following a two-week advance, putting the pair on…
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The US dollar weakened broadly on Friday following the highly anticipated speech by Fed Chair Powell at the Jackson Hole symposium. Although Powell did not specify the magnitude or pace of potential rate cuts, he reaffirmed that the Federal…
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Gold regained momentum on Friday, recovering nearly half of Thursday’s 1.1% decline that had breached and closed below the psychological $2500 level. Support around the previous range’s top at the $2480 zone held firm, containing…
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The dollar index edged higher in early European trading on Thursday, rebounding from its lowest level since December 23, which was reached following the release of the FOMC's July policy meeting minutes. The minutes revealed that US…
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The Federal Reserve is signaling a likely interest rate cut in September, as revealed in the minutes from the July 30-31 Federal Open Market Committee (FOMC) meeting. Although the Fed kept its benchmark rate unchanged at 5.25%-5.50%, the…
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EUR/USD momentum has slowed after a steep three-day rally that hit a new 2024 high at 1.1132, just shy of December 2023’s peak at 1.1139. The euro continues to benefit from risk appetite and a weaker dollar driven by Fed rate cut…
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Bears are pausing after a sharp three-day decline, during which oil prices dropped 5%, driven by easing tensions in the Middle East and a rise in U.S. crude inventories (as per the API report). Oversold daily indicators and…
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Gold remains strong, consolidating just below its new record high of $2,531 set on Tuesday, with a third consecutive daily close above the $2,500 mark, signaling a potential breakout. The metal continues its steep multi-month uptrend,…
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