Forex News

The NZD/USD Pair Continues its Downward Trend Market Expectations of an Interest Rate Cut by the RBNZ The NZD/USD pair continues its downward trend, dropping to 0.6240 in its third consecutive session of declines. This ongoing sell-off in the New Zealand dollar is driven by market expectations of an upcoming interest rate cut by the…

Gold (XAU/USD) seems to be doing the limbo dance these days, edging lower to trade in the $2,640s per troy ounce on Thursday. It’s like watching a roller coaster ride, with the price dipping and rising unpredictably. Last week, Gold hit a record high of $2,685, but now it’s struggling to stay afloat. The current…

The GBP/USD Pair Continues to Decline The GBP/USD pair has been on a downward trend for the past three days, marking its fourth consecutive negative move in the last four days. During the first half of the European session on Thursday, the pair plummeted to over a two-week low. Spot prices are currently trading below…

Gold Price Continues to Face Pressure Amid Stronger US Dollar Asian Session Update The price of gold (XAU/USD) remains on the defensive during the Asian session on Thursday, as the US Dollar (USD) continues to strengthen. The recent boost in the USD is fueled by diminishing odds for a more aggressive policy easing by the…

What’s Next for USDJPY? October Outlook October started off on a lackluster note for USDJPY, with the pair showing a neutral close around its 20-day EMA. The previous rejection near the 50% Fibonacci retracement of the 2023-2024 upleg at 144.50 seems to have set the tone for the month ahead. Current Challenges As USDJPY attempts…

Silver (XAG/USD) Struggles to Gain Momentum Market Analysis Silver (XAG/USD) is currently facing challenges in capitalizing on the positive movement seen in the previous day’s trading session. The precious metal is trading in a narrow range below the mid-$31.00s during the Asian session on Wednesday. While silver remains near the weekly low touched on Monday,…

UBS Gold Forecasts Point Towards Continued Growth Amidst Rising Middle East Conflict Recently, UBS released a note predicting a positive outlook for gold, with forecasts indicating an increase in value towards the end of 2024 and into 2025. The note specifically mentions a forecast of gold reaching USD 2,750 by Q4 2025, with further potential…

Gold Rebounds on Geopolitical Tensions, but Limited by Powell’s Remarks Introduction Gold (XAU/USD) has seen a slight recovery, trading in the $2,640s per troy ounce on Tuesday. This comes after the Israeli army initiated a ground invasion of Lebanon, leading to increased geopolitical tensions and a rise in safe-haven demand for Gold. Additionally, the impact…