The USD/CHF retreats on Monday as the technical picture suggest the downtrend might resume in the near term. At the time of writing, the pair trades at 0.7923 below the 0.8000 figure, poised to test yearly lows of 0.7829.
A Trump win could weigh on the dollar as expectations for rapid Fed rate cuts increase. The case also highlights broader concerns over Fed independence and potential political influence on monetary policy.
Gold price hit a fresh all-time high at $3,747 on Monday and appears poised to test higher prices as the US Dollar slumps, with traders anticipating further easing by the Federal Reserve (Fed) later this year. XAU/USD trades above $3,745, up more than 1.60%.
The Pound Sterling (GBP) bounces off a two-week low of 1.3453 on Monday, yet bulls are not out of the woods, after the pair hit a two-month peak of 1.3726 last week before plunging following the Federal Reserve’s decision to reduce interest rates. GBP/USD trades at 1.3496, up 0.27%.
Gold (XAU/USD) continues its record-breaking rally on Monday, extending gains for the sixth straight week as dovish Federal Reserve (Fed) expectations and robust safe-haven flows keep demand elevated.
Gold bounced up from the $3,630 area on Friday and is extending gains on Monday, supported by a cautious market mood and hopes of further Fed easing. The precious metal is trading at $3,720, with the following potential targets at $3,730 and $3,760.The fundamental backdrop remains supportive.
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is halting its three-day winning streak and trading around 97.50 during the European hours on Monday.
The lack of meaningful pullbacks in the US stock market rally is giving some investors bubble-like vibes. What’s driving the rally, and what could trigger a pullback?
Bearish below 6713 with downside targets at 6709.25, 6705.25, and 6702.75.
Bullish above 6716 with upside targets at 6717.75, 6721, and 6729.5.
Today’s S&P 500 technical analysis highlights tight ranges around key VWAP and Value Area levels.
The EUR/JPY cross gains ground near 174.00 during the early European session on Monday. The Japanese Yen (JPY) weakens against the Euro (EUR) as political uncertainty in Japan and economic headwinds stemming from US tariffs could give the BoJ more reasons to delay raising interest rates.
The GBP/USD pair continues its four-day losing streak, trading around 1.3460 during the Asian hours on Monday. The bearish shift appears as the daily chart’s technical analysis shows that the pair is on the verge of breaking below the ascending channel pattern.
KiwiBank now expects the RBNZ to cut rates by 50bp in October and 25bp in November, taking the cash rate to 2.25% by year-end, citing weak GDP data and the economy’s failure to rebound from recession. It warned further easing to 2% may be required if conditions worsen.
Berkshire Hathaway has sold its entire stake in BYD, ending a 17-year investment that was among its most lucrative in Asia. The exit followed a gradual sell-down since 2022, with BYD acknowledging Berkshire’s role as a long-term backer.
UBS raised its USD/JPY forecasts to 143 by end-2025 and 140 by end-2026, citing Japanese political uncertainty, a dovish BoJ and strong equity performance as headwinds for the yen. While another BoJ hike is priced in, UBS sees the currency stuck largely in a 140–150 range, with U.S. labor market weakness weighing on the dollar.
Goldman Sachs AM expects the Bank of England to keep rates steady through 2025, with sticky inflation and a stabilising labour market discouraging near-term cuts. November’s budget could be pivotal, but the firm’s base case is for easing to resume in February 2026.
China’s loan prime rates are set to remain unchanged Monday, with analysts unanimously expecting no move despite Fed easing. Authorities are balancing weaker growth data with resilient exports and market gains, while the PBOC’s steady main policy rate signals no urgency to cut.
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