Silver prices plunges after hitting an all-time high (ATH) of $64.65 losses 2.75% as investors book profits ahead of the weekend, as Federal Reserve officials remain divided about future monetary policy meetings. At the time of writing, XAG/USD trades at $61.84.
Gold (XAU/USD) advances modestly on Friday as traders seem to book profits ahead of the weekend, yet clings to gains of over 0.51% after reaching a seven-week high of $4,353. At the time of writing, XAU/USD trades at $4,302 as traders digest comments from Federal Reserve (Fed) officials.
EUR/USD holds firm at around 1.1741 on Friday, virtually unchanged, amid a parade of Federal Reserve (Fed) officials crossing the wires, following last Wednesday's 25 basis points rate cut.
West Texas Intermediate (WTI) Crude Oil remains under pressure on Friday, with prices struggling to find traction as persistent oversupply concerns continue to dominate market sentiment.
The Euro (EUR) trades defensively after modest weekly gains versus the US Dollar (USD), with short-term rates and ECB messaging offering fundamental support.
USD/JPY trades offered but lacks follow-through, as markets near full pricing of a 25bps BOJ hike on 19 December. Near-term support lies at 155.10–153.90, while any meaningful JPY recovery would require stronger guidance from the BOJ, fiscal prudence, and a softer USD.
Gold (XAU/USD) extends its advance on Friday as expectations build for further monetary policy easing by the Federal Reserve (Fed) after this week’s interest rate cut. At the time of writing, XAU/USD is trading around $4,340, just shy of its all-time high near $4,381, marked on October 20.
Following the Federal Open Market Committee (FOMC) meeting, the US Dollar (USD) softened broadly while risk proxies, non-USD currencies, precious metals, and even crypto assets saw constructive moves. DXY last seen around 98.46 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
The US Dollar (USD) continued to slide, pressured by a jump in initial jobless claims to 236k—the largest weekly rise since March 2020—and lingering softness in the labor market, OCBC's FX analysts Frances Cheung and Christopher Wong note.
We are starting to see a more clear divergence between the Fed and other major central banks. That could lead to a more sustained downtrend for the US dollar, but US data will be key risk for a major hawkish repricing.
The US Dollar (USD) weakened further after the Fed meeting, with Dollar Index (DXY) closing near 98.00 as rate expectations shifted lower and seasonal pressure added to the bearish tone, ING's FX analyst Frantisek Taborsky notes.
USD/CNH continues to drift lower amid a softer US Dollar (USD) and another strong CNY fix, with the PBoC guiding the RMB along a controlled appreciation path.
The Nasdaq 100 is stabilizing after breaking its descending channel and retaking the 50-DMA, but momentum is capped near the 25,890 gap, Société Générale's FX analysts note.
The Nifty 50 bounced back following Fed Chair Powell's dovish stance and positive news on the US-India trade talks front. The price is now close to a key trendline. What's next?
EUR/USD posts marginal losses, trading right below 1.1730 on Friday after pulling back from its highest levels in more than two months at 1.1762 reached on Thursday.
EUR/USD advances during the North American on Thursday up 0.41% after the Fed decided to cut rates, alongside the release of weaker than expected job data in the United States (US). At the time of writing, the pair trades at 1.1742 after bouncing off daily lows of 1.1682.
Silver surges 11% in three days driven by a "perfect storm" of shortages and industrial demand. Meanwhile, Gold breaks key resistance as US debt fears fuel a 60% yearly rally.
Gold (XAU/USD) skyrockets on Thursday after the Federal Reserve (Fed) cut rates as expected on Wednesday, and even though it hinted at a pause in the easing cycle, it was not an excuse for the rally in precious metals.
The Australian Dollar (AUD) rebounds sharply against the US Dollar (USD) on Thursday, shrugging off earlier weakness triggered by softer-than-expected Australian employment data as selling pressure on the Greenback intensifies following weaker US Initial Jobless Claims.
The Pound Sterling (GBP) rallies during the North American session on Thursday, up over 0.68% after the Federal Reserve (Fed) delivered a 25-basis-point rate cut and a softer-than-expected jobs report, which weighed on the US Dollar (USD).
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