Euro recovers as Eurozone inflation stays firm
EUR/USD trades near the 1.1530 area during Friday’s American session, consolidating after a strong rally off intraday lows. The Euro found support from resilient Eurozone inflation data, although gains remain capped as hawkish Federal Reserve (Fed) rhetoric boosts the US Dollar. Preliminary data from Eurostat showed that the Eurozone Harmonized Index of Consumer Prices (HICP) […]
It’s a close call whether interest rates are high enough
Richmond Federal Reserve (Fed) President Tom Barkin said on Friday that it remains uncertain whether the current level of interest rates is sufficiently restrictive to bring inflation back to the Fed’s 2% target, according to an interview with The Wall Street Journal. Barkin also said he was unsure whether he would have joined the three […]
United States Dollar Index struggles near 100 after suspected Japanese intervention
The US Dollar Index (DXY) struggles to hold its early recovery on Friday as the fallout from suspected Japanese intervention and the possibility of direct action by the United States (US) keep the Greenback under pressure. At the time of writing, the index trades around 99.96, easing from an intraday high of 100.45 and hovering […]
The Japanese Yen has a second buyer nobody will name
Thursday’s record Yen defence is the story everyone has written. Friday is the one that matters, because the Dollar has been sold in three separate lurches since the Tokyo morning, nobody has claimed any of them, and the US Treasury has told a number of banks through the New York Fed that it may enter […]
Gold slides as US yields surge, keeping $4,100 out of reach
Gold price tumbles nearly 1.50% on Friday as the US Dollar recovers some ground after Japanese authorities intervened in the foreign exchange markets a day ago, driving the Greenback to a 30-day low before recovering, according to the US Dollar Index (DXY). The XAU/USD trades at $4,045. XAU/USD drops as Treasury yields, Fed dissents and […]
Bulls defend 50-day SMA as rebound builds
The USD/CHF bounces off weekly lows and meanders around 0.8080 after hitting a daily high of 0.8127, amid presumed intervention, with Nikkei reporting that the US Treasury Department has told currency market participants to prepare for additional intervention, following Thursday’s action by Japanese authorities to boost the Yen. USD/CHF Price Forecast: Technical outlook The USD/CHF […]
US labor market takes center stage after hawkish Fed split
The first full week of August will test whether the US Dollar can recover from its sell-off during the last week of July as investors shift their attention from central bank decisions to a fresh round of economic data. The spotlight will be on July’s Nonfarm Payrolls (NFP) report, while ISM surveys, ADP Employment figures […]
US and Israel plan to attack Iran’s energy infrastructure – CBS News
CBS News reported that the United States and Israel may engage in a large campaign against Iran, targeting Iran’s energy infrastructure, said multiple sources. The duration would be over the weekend ahead of next week’s Asian open in the financial markets. The article mentions that US sources revealed that Israel has been notified and “are […]
Bulls eye 0.6000 after SMA break
The Kiwi Dollar extends its three-day rally, climbing above 0.5850 and is poised to challenge 0.5900 amid improving risk appetite and broad US Dollar weakness. The clearance of the 200-day Simple Moving Average (SMA) supports the bullish trend, as traders eye the May monthly high at 0.5995. NZD/USD Price Forecast: Technical outlook The daily chart […]
Two earnings shocks cancel inside the Dow Jones
The Dow Jones Industrial Average (DJIA) trades just beneath 52,500 on Friday, up around 230 points and roughly 1.6% under the record set early in July. That mild figure covers a session that ran close to 600 points, from a high in the 52,600 area down to a low fractionally beneath the 52,000 handle, before […]
