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Silver Price Forecast: XAG/USD shines near $37.00 as breakout fuels bulls
Silver Price Forecast: XAG/USD shines near $37.00 as breakout fuels bulls
Silver price trades above two-week highs on Thursday, near the $37.00 figure, up by 0.86% at the time of writing. Upbeat economic data in the United States (US) boosted the Greenback, mostly against Gold. The grey metal capitalized on the current market structure, as a double-bottom formation looms.
Technical Analysis
Silver
XAGUSD
EUR/USD tumbles as US NFP report bolsters current Fed policy
EUR/USD tumbles as US NFP report bolsters current Fed policy
The Euro falls against the US Dollar on Thursday following the release of June’s employment figures in the United States (US), which showed why the Federal Reserve (Fed) is not ready to reduce borrowing costs. At the time of writing, the EUR/USD trades at 1.1744, down 0.45%.
EURUSD
Fundamental Analysis
Technical Analysis
Majors
SEO
AUD/USD slips as NFP beats and Trump cheers tax bill's final passage
AUD/USD slips as NFP beats and Trump cheers tax bill's final passage
The Australian Dollar (AUD) is edging lower against the US Dollar (USD) on Thursday. Markets are reacting to the latest US Nonfarm Payrolls (NFP) report. 
AUDUSD
Fundamental Analysis
Currencies
Technical Analysis
GBP/JPY snaps losing streak as Yen weakens across the board
GBP/JPY snaps losing streak as Yen weakens across the board
The British Pound (GBP) gains ground against the Japanese Yen (JPY) on Thursday, supported by stronger-than-expected US Non-Farm Payrolls (NFP) data, which lifted global risk sentiment and weighed on traditional safe-haven currency.
Crosses
GBPJPY
BOE
Technical Analysis
Gold sinks as blowup NFP shatters Fed cut narrative
Gold sinks as blowup NFP shatters Fed cut narrative
Gold price fell 0.80% on Thursday as a strong US Nonfarm Payrolls report strengthened the US Dollar, leading market participants to believe it unlikely that the Fed could cut rates at the July meeting. At the time of writing, the XAU/USD trades at $3,332, having reached a daily high of $3,365.
Gold
XAUUSD
Fundamental Analysis
Technical Analysis
SEO
EUR/USD retreats as solid US employment data lifts the US Dollar
EUR/USD retreats as solid US employment data lifts the US Dollar
The Euro (EUR) is weakening against the US Dollar (USD) on Thursday during the American session after a slew of US economic data provided some relief for the Greenback.
EURUSD
Fundamental Analysis
Technical Analysis
Majors
Macroeconomics
Silver Price Forecast: XAG/USD range narrows, eyes bullish breakout
Silver Price Forecast: XAG/USD range narrows, eyes bullish breakout
Silver (XAG/USD) is trading with a modest positive bias on Thursday, holding steady near $36.75 during the American trading session after easing from an intraday high of $37.07.
XAGUSD
Technical Analysis
Bullish
GBP/USD steady despite US jobs surprise, Reeves uncertainty caps gains
GBP/USD steady despite US jobs surprise, Reeves uncertainty caps gains
The Pound Sterling (GBP) remains steady against the US Dollar (USD) on Thursday, after a solid Nonfarm Payrolls (NFP) report in the United States (US) cemented the case for the Federal Reserve (Fed) to hold rates in July, as the Unemployment Rate ticked lower.
GBPUSD
Majors
Fundamental Analysis
Technical Analysis
Currencies
USDCAD remains under pressure despite post-jobs spike
USDCAD remains under pressure despite post-jobs spike
Failure to break the 100-hour moving average keeps sellers in control as price eyes weekly lows
Gold price falls as US NFP surprises to the upside, US Dollar recovers
Gold price falls as US NFP surprises to the upside, US Dollar recovers
Gold (XAU/USD) is edging lower in the European session on Thursday, as markets look ahead to the US Nonfarm Payrolls (NFP) data release for June.
XAUUSD
Gold
Technical Analysis
Fundamental Analysis
NFP
The US dollar is little changed and mixed ahead of the US jobs report
The US dollar is little changed and mixed ahead of the US jobs report
US Trade negotiations and passing of the tax/budget bill are also on the schedule ahead of the 4th of July holiday in the US.
OIL Price Forecast: WTI approaches the range top at the $67.00 area
OIL Price Forecast: WTI approaches the range top at the $67.00 area
WTI Crude Prices jumped on Wednesday following news that Iran suspended its cooperation with the International Atomic Energy Agency (IAEA) and is holding gains on Thursday, despite the unexpected increase in US Oil stocks.Tehran announced on Web¡nesday that President Masoud Pezeshian approved a law
Oil
WTI
Commodities
Technical Analysis
USD/CNH: Any decline is likely limited to a test of 7.1500 – UOB Group
USD/CNH: Any decline is likely limited to a test of 7.1500 – UOB Group
US Dollar (USD) is likely to edge lower against Chinese Yuan (CNH), but any decline is likely limited to a test of 7.1500.
Banks
Technical Analysis
USDCNH
GBP: The damage is done – Commerzbank
GBP: The damage is done – Commerzbank
British Chancellor of the Exchequer Rachel Reeves, who is committed to budgetary discipline, suddenly found herself alone when Prime Minister Keir Starmer unexpectedly withdrew his support for her in Parliament, Commerzbank's FX analyst Antje Praefcke notes.
GBPUSD
Banks
Technical Analysis
BOE
UnitedKingdom
USD/JPY: Likely to trade between 143.00 and 144.10 – UOB Group
USD/JPY: Likely to trade between 143.00 and 144.10 – UOB Group
Further US Dollar (USD) consolidation would not be surprising against Japanese Yen (JPY), most likely between 143.00 and 144.10. In the longer run, further declines are not ruled out, but USD may consolidate for a couple of days first, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
USDJPY
Technical Analysis
Banks
USD: The next US ‘deal’ – Commerzbank
USD: The next US ‘deal’ – Commerzbank
Yesterday, the US government presented another ‘deal,’ the third following agreements with the UK and China, Commerzbank's Head of FX and Commodity Research Thu Lan Nguyen notes.
Banks
DollarIndex
UnitedStates
Technical Analysis
China
NZD/USD: Expected to trade in a range between 0.6065 and 0.611 – UOB Group
NZD/USD: Expected to trade in a range between 0.6065 and 0.611 – UOB Group
New Zealand Dollar (NZD) is expected to trade in a range between 0.6065 and 0.6115 against US Dollar (USD). In the longer run, upward momentum has largely faded; NZD is likely to trade in a range between 0.6035 and 0.6130, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
NZDUSD
Technical Analysis
Banks
Could the ECB prevent a rise in the EUR/USD exchange rate? – Commerzbank
Could the ECB prevent a rise in the EUR/USD exchange rate? – Commerzbank
In recent days, several members of the ECB Governing Council have expressed concern about the strength of the Euro (EUR). This marks a new tone from the central bankers.
Banks
EURUSD
ECB
Technical Analysis
AUD/USD: Expected to trade in a range of 0.6550/0.6595 – UOB Group
AUD/USD: Expected to trade in a range of 0.6550/0.6595 – UOB Group
Australian Dollar (AUD) is expected to trade in a range of 0.6550/0.6595 against US Dollar (USD). In the longer run, should AUD break clearly above 0.6595, it could trigger a further rise toward 0.6620, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
AUDUSD
Technical Analysis
Banks
DXY: Eyes on payrolls, ISM services – OCBC
DXY: Eyes on payrolls, ISM services – OCBC
US Dollar (USD) traded mixed overnight, with losses seen vs. TWD, THB and precious metals but traded largely firmer against most currencies including GBP, AUD, NZD and MYR. DXY was last at 96.83 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
DollarIndex
Banks
Technical Analysis
GBP/USD: Likely to trade between 1.3585 and 1.3705 – UOB Group
GBP/USD: Likely to trade between 1.3585 and 1.3705 – UOB Group
Pound Sterling (GBP) is likely to trade in a range, probably between 1.3585 and 1.3705. In the longer run, week-long positive outlook has been negated; for a continued down-move, GBP must first close below 1.3560, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
GBPUSD
Technical Analysis
Banks
USD: Too early to say we've reached 'peak bearishness' on the USD – ING
USD: Too early to say we've reached 'peak bearishness' on the USD – ING
While forecasters are overwhelmingly bearish on the dollar now – and some are bearish on a multi-quarter basis too – one possible shoe still to drop is the possibility of early Fed rate cuts, ING's FX analyst Francesco Pesole notes.
DollarIndex
Banks
Technical Analysis
Fed
Gold Technical Analysis – All eyes on the US NFP report
Gold Technical Analysis – All eyes on the US NFP report
Gold remains supported amid Fed easing bets and weaker US dollar as the attention switches to the US NFP report
EUR/GBP eyes 0.8735 after breakout – Société Générale
EUR/GBP eyes 0.8735 after breakout – Société Générale
EUR/GBP is extending its uptrend after defending the 200-DMA in May and breaking above recent consolidation, with momentum indicators pointing higher. The pair eyes the April high at 0.8735 and projections near 0.8780, while support rests at 0.8585/0.8575, Société Générale's FX analysts note.
EURGBP
Technical Analysis
Banks
GBP: Political noise takes its toll – ING
GBP: Political noise takes its toll – ING
There was a surprisingly large sell-off in sterling yesterday after markets bought into the view that the fiscally responsible Chancellor, Rachel Reeves, could be forced to resign.
GBPUSD
Banks
Technical Analysis
GBP/USD: Corrective pullback underway – OCBC
GBP/USD: Corrective pullback underway – OCBC
Pound Sterling (GBP) fell, alongside Gilts on signs of division within Labour party. GBP was last at 1.3671 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
GBPUSD
Banks
Technical Analysis
EUR/USD: Near term consolidation – OCBC
EUR/USD: Near term consolidation – OCBC
Euro (EUR) gains slowed overnight, in line with our caution. EUR was last at 1.18 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
EURUSD
Banks
Technical Analysis
EUR: ECB starting to express some concern over euro strength – ING
EUR: ECB starting to express some concern over euro strength – ING
The Financial Times is running a story today on ECB officials questioning whether the euro has strengthened too much.
EURUSD
Technical Analysis
Banks
USD/CAD Price Forecast: Remains below 1.3600 due to persistent bearish bias
USD/CAD Price Forecast: Remains below 1.3600 due to persistent bearish bias
The USD/CAD pair extends its losses after registering nearly 0.50% losses in the previous session, trading around 1.3590 during the European hours on Thursday.
USDCAD
Majors
Technical Analysis
Intel (INTC) Stock Update: Bears regain control on yesterday's surprising news
Intel (INTC) Stock Update: Bears regain control on yesterday's surprising news
This case illustrates how news alone (like the seemingly significant from Intel yesterday) doesn’t determine direction. Price action does. Yesterday, negative news came out for Intel, on a good day for semiconductor stocks. Intel’s failure to hold key breakout levels, especially while peers rallied, speak the same tone as the news and even louder than the news itself.
Stock Picks
Stocks
Pound Sterling trades higher against US Dollar, US NFP under spotlight
Pound Sterling trades higher against US Dollar, US NFP under spotlight
The Pound Sterling (GBP) moves higher to near 1.3665 against the US Dollar (USD) during European trading hours on Thursday.
GBPUSD
BOE
Technical Analysis
Fed
SEO
USD/CNH Price Forecast: Flat lines around 7.1620-7.1625; looks to US NFP for fresh impetus
USD/CNH Price Forecast: Flat lines around 7.1620-7.1625; looks to US NFP for fresh impetus
The USD/CNH pair extends its sideways consolidative price move for the third straight day on Thursday and remains close to the year-to-date low touched earlier this week.
USDCNY
NFP
Technical Analysis
Currencies
USD/CAD Price Forecast: Bearish outlook remains in play near 1.3600
USD/CAD Price Forecast: Bearish outlook remains in play near 1.3600
The USD/CAD pair recovers some lost ground to near 1.3595 during the early European session on Thursday. The potential upside for the pair might be limited as weaker AUS ADP employment numbers supported market expectations of a Federal Reserve (Fed) interest rate cut.
Majors
USDCAD
Technical Analysis
AUD/JPY Price Forecast: Moves below 94.50, nine-day EMA acts as initial support
AUD/JPY Price Forecast: Moves below 94.50, nine-day EMA acts as initial support
AUD/JPY retraces its recent gains from the previous session, trading around 94.50 during the Asian hours on Thursday. As per the technical analysis of the daily chart, the currency cross remains within the ascending channel pattern, indicating a prevailing bullish bias.
AUDJPY
Crosses
Technical Analysis
Silver Price Forecast: Bulls have the upper hand while above the $35.40 horizontal support
Silver Price Forecast: Bulls have the upper hand while above the $35.40 horizontal support
Silver (XAG/USD) attracts some sellers near the $36.55-$36.60 region during the Asian session on Thursday and erodes a part of the previous day's strong move up to the top end of the weekly range.
Silver
Commodities
Technical Analysis
XAGUSD
USD/JPY Price Forecast: Struggles at 144.00 and falls, as Trump slams Powell again
USD/JPY Price Forecast: Struggles at 144.00 and falls, as Trump slams Powell again
The USD/JPY registered modest gains on Wednesday, with the pair closing up 0.18%, finishing the session below 143.70. As Thursday’s Asian session begins, the pair trades at 143.63, virtually unchanged.
Technical Analysis
USDJPY
Currencies
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