Dollar Tight Range to Be Tested by GDP and Fed’s Preferred Inflation Read
S&P 500, US Dollar, Earnings, BOC and FOMC Rate Decision Talking Points: The Market Perspective: S&P 500 Eminis Bearish Below 3,900; USDJPY Bullish Above 132.00 The S&P 500 continues to exhibit serious intraday volatility this past session with a sizable gap lower to undermine Monday’s breakout…only to fully retrace the move back into range We […]
XAU/USD bulls approach $1,967 ahead of United States Gross Domestic Product
Gold price takes the bids to renew nine-month high, up for the fourth consecutive day. US Dollar weakness underpins XAU/USD upside amid cautious mood ahead of the key United States Gross Domestic Product. Dovish bias surrounding the Fed contrasts with the hawkish outlook over ECB to weigh on USD and favor Gold buyers. Convergence of […]
Can US Q4 GDP Break the Recession Narrative?
Amidst all the debate of whether the US is heading into a recession this year, we get the first look at last year’s GDP figures. This could be the biggest market moving event of the week, especially if expectations are not met. And there is something of a wide range of forecasts. The Fed’s GDPNow […]
BoC decides on interest rates, focus on US GDP Q4 2022 report
The Bank of Canada (BoC) interest rate decision will be in the spotlight later today, while investors and traders are eager to review the US Q4 2022 GDP preliminary report due to be published tomorrow. The Australian Bureau of Statistics (ABS) announced that CPI inflation hit a 32-year record high in the fourth quarter of […]
USD/JPY traces sluggish yields above 130.00 as Yen traders await BoJ Summary, US GDP and Fed
USD/JPY prints mild gains after reversing from weekly top the previous day. Yields remain sidelined as traders await more clarity on growth prospects, Fed moves. US PMIs were mixed but downbeat equities and higher prints of inflation data elsewhere allowed yields/USD to defend Yen buyers. Light calendar ahead of US GDP, FOMC restricts immediate moves. […]
USD/CAD struggles to extend recovery above 1.3380 ahead of BoC policy
USD/CAD is facing stiff resistance in surpassing the 1.3380 hurdle as the focus shifts to BoC policy. BoC Governor is expected to hike interest rates further by 25 bps to 4.5%. A sell-off in S&P500 futures is portraying caution in the market mood. The USD/CAD pair is facing barricades in paddling above the immediate resistance […]
EUR/USD sees recovery to near 1.0900 as ECB to continue rate hikes beyond summer
EUR/USD is eyeing to recapture the 1.0900 resistance as ECB might not pause policy tightening beyond summer. The Euro is delighted with bullish bets for CY2023 as the ECB will continue to raise interest rates further. According to the consensus, investors should brace for a contraction in the US GDP for the fourth quarter of […]
Gold eases off nine-month peak as U.S. dollar, yields gain
Holdings in iShares Silver Trust rose 4% on MondayU.S. 10-Treasury yields at near one-week peakJan 24 (Reuters) – Gold prices pulled back from a nine-month high on Tuesday due to a slight uptick in the dollar and U.S. bond yields, although hopes of slower interest rate hikes from the Federal Reserve underpinned the market.Spot gold […]
USD/JPY drops back towards 130.00 to snap two-day rebound amid softer yields, mixed Japan PMI
USD/JPY takes offers to refresh intraday low, prints the first daily loss in three. Japan’s Jibun Bank Manufacturing PMI stays intact, Services PMI improved in January. Chatters over easing Covid-led restrictions on Japan, mixed sentiment exert downside pressure on Yen pair. US PMIs, risk catalysts are the key ahead of US Q4 GDP. USD/JPY slides […]
XAU/USD grinds higher ahead of United States Gross Domestic Product
Gold price remains sidelined near nine-month high after a five-week uptrend. Mixed signals from Federal Reserve, mostly downbeat United States data improved sentiment and propelled Gold prices of late. Lunar New Year holidays in China, Fed’s ‘Blackout period’ may challenge XAU/USD traders. Purchasing Managers Indexes, Gross Domestic Product will be crucial for fresh impulse. Gold […]