Gold (XAU/USD) kicks off the week on a positive footing, breaking out of last week’s sideways momentum after peaking at an all-time high near $3,675 on Tuesday.
A public holiday in Japan has seen a quiet start to the week in global FX markets. In terms of overnight news, there were note some soft China activity data that calls out for some more stimulus.
The US Dollar keeps trading within the last few days’ range against the Swiss Franc, but intra-day technical indicators start showing an incipient bearish momentum as the pair approaches 0.7950 following rejection at 0.7972.The USDollar Index, which measures the value of the US Dollar against the mo
Gold failed to find acceptance above the $3,660 area and is trading lower on Thursday, returning to $3,620, as the US Dollar appreciates for the third consecutive day, with all eyes on the US Consumer Prices Index release.
Pound Sterling (GBP) faces a much busier week. The highlight is Thursday's MPC meeting. But before then, we have the jobs/earnings figures tomorrow and then the August CPI release on Wednesday, ING's FX analyst Chris Turner notes.
Momentum indicators are mostly flat; Euro (EUR) is likely to trade in a range of 1.1705/1.1755. In the longer run, EUR could rise but any advance is likely part of a higher range of 1.1650/1.1790, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
French sovereign bonds have been trading at spreads to swap rates consistent with multiple downgrades. It is no surprise then that French debt and the euro have not reacted too much to Friday evening's decision by Fitch to downgrade France one notch to A+, ING's FX analyst Chris Turner notes.
EUR/JPY depreciates after two days of losses, trading around 173.10 during the European hours on Monday. The technical analysis of the daily chart suggests a persistent bullish bias as the currency cross moves upwards within the ascending channel pattern.
Silver price (XAG/USD) maintains its position after registering more than 1.5% gains in the previous session, trading around $42.20 per troy ounce during the European hours on Monday.
The NZD/USD pair attracts some dip-buyers at the start of a new week and stalls Friday's modest pullback from the 0.5980 region, or a nearly one-month high.
The AUD/JPY cross edges higher to near 98.20 during the early European session on Monday. The Japanese Yen (JPY) softens against the Australian Dollar (AUD) after Japan’s Prime Minister Shigeru Ishiba announced his resignation.
USD/CHF advanced during the North American session, yet it remains consolidating at around the 0.7950-0.8000 range ahead of the next week Federal Reserve’s monetary policy meeting. The pair trades at 0.7966 up 0.12%.
EUR/USD remains steady during the North American session on Friday, poised to end the week with modest gains of over 0.18% as traders brace for the next week’s monetary policy decision by the Federal Reserve (Fed). At the time of writing, the pair trades at 1.1736, virtually unchanged.
West Texas Intermediate (WTI) Crude Oil reversed course during the American session on Friday, paring intraday gains after hitting a daily high of $63.69.
Gold prices rise over 0.44% during Friday’s North American session as weaker than expected jobs market data increased the chances that the Federal Reserve (Fed) will cut interest rates next week. At the time of writing, XAU/USD trades at $3,649 after hitting a daily low of $3,630.
Stock climbs back above $503.49 support and presses $512.27 resistance, with a break higher targeting $518.29 after an 11% pullback from July’s record peak.
Resistance in the USDJPY at the swing area today and going forward between 147.95 and 148.166. Downside targets at the 200 and 100 hour MAs at 147.80 and 147.39 respectively.
The Pound Sterling (GBP) retreats during the North American session on Friday by a modest 0.10% as the US Dollar (USD) recovers some ground, after a week that witnessed US inflation remaining steady above the Fed’s 2% goal but controlled.
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