AUD/USD witnesses a modest pullback from the vicinity of a two-month high set on Thursday. The USD short-covering move is seen as a key factor exerting downward pressure on the pair. The risk-on impulse offers some support to the risk-sensitive aussie and limits the downside. The AUD/USD pair faces rejection near a technically significant 200-day… Read More »
Senior Economist at UOB Group Alvin Liew reviews the latest US inflation figures and the impact on the Fed’s rate path in the near term. Key Takeaways “Both key measures of US inflation came in below expectations for Jul. US headline consumer price inflation was still elevated but came off from recent highs, to 8.5%… Read More »
USD/CAD attracts some dip-buying on Friday amid a modest pickup in the USD demand. The prospects for additional Fed rate hikes, elevated US bond yields benefit the greenback. The recent rally in oil prices could underpin the loonie and keep a lid on any further gains. The USD/CAD pair rebounds a few pips from the… Read More »
Gold edges down for the third straight day amid a modest pickup in the USD demand. The risk-on impulse further exerts some downward pressure on the safe-haven metal. The uncertainty over the size of further rate hikes caps the USD and extends support. Gold slips into negative territory for the third straight day on Friday… Read More »
GBP/USD meets with a fresh supply on Friday and retreats further from the post-US CPI swing high. The BoE’s bleak outlook undermines the GBP and acts as a headwind amid a modest USD strength. The better-than-expected UK macro data does little to impress bulls or lend support to the major. The GBP/USD pair turns lower… Read More »
USD/JPY gains traction on Friday and moves away from over a one-week low set the previous day. The Fed-BoJ policy divergence and a positive risk tone undermine the JPY and act as a tailwind. The recent hawkish remarks by Fed officials help revive the USD demand and remain supportive. The USD/JPY pair builds on the… Read More »
NZD/USD continues scaling higher on Friday and climbs to over a two-month high The uncertainty over the next Fed rate hike keeps the USD bulls on the defensive. A positive risk tone also seems to cap the USD and benefits the risk-sensitive kiwi. The NZD/USD pair prolongs this week’s strong move up and gains traction… Read More »
Gold still faces a determined Fed tightening policy and a strong USD. If market sentiment shifts to a 50 bps rate hike as opposed to 75 bps, this may act to limit the near-term downside for the yellow metal, in the view of analysts at HSBC. Near-term upside for gold is limited “As the Fed… Read More »
Oil prices are likely to rebound firmly as IEA has stepped up demand forecasts. Substitution of natural gas to oil ahead of Winters is strengthening the black gold. Trimmed odds for Fed’s hawkish guidance are also supporting oil prices. West Texas Intermediate (WTI), futures on NYMEX, has witnessed a minor pullback to near $93.00 after printing… Read More »
Gold price remains sidelined while keeping the previous day’s bounce off 50-DMA. US dollar struggles to regain traction even as Fed policymakers resist welcoming easy CPI/PPI. Yields retreat from three-week high to print the first daily loss in four. US Michigan Consumer Sentiment Index eyed to confirm receding fears of inflation. Gold price (XAU/USD) remains… Read More »
