The US Dollar remembers how to rally

The US Dollar remembers how to rally

The US Dollar Index (DXY) spent the back half of this week doing something most desks had written off six months ago: rallying on the prospect of a Federal Reserve (Fed) rate hike. The index pushed to a fresh 13-month high before easing back; the move owed less to safe-haven flight than to a cold […]

Gold answers to the Fed, not the fear

Gold answers to the Fed, not the fear

Gold is supposed to be the asset you want when the world looks dangerous, which makes this week’s price action quietly remarkable. Bullion ended the week down close to 1.5%, its sixth straight week of lower or flat closes, even as a Middle East war ran into its fourth month and an unsigned ceasefire kept […]

The Australian Dollar looks for an excuse to break ranks

The Australian Dollar looks for an excuse to break ranks

The Australian Dollar spent this week as a passenger in someone else’s trade. A hawkish Federal Open Market Committee (FOMC) and a surging US Dollar dragged the Aussie down to the 0.7000 handle, with the pair’s sharp mid-week drop owing more to events in Washington than to anything out of Canberra. Yet the Aussie is […]