Forex News
USD/INR Bounces Back: US Dollar Demand Persists, But Upside Potential Limited
The Indian Rupee (INR) weakens on Wednesday INR remains the worst-performing Asian currency in August On Wednesday, the Indian Rupee (INR) continued its downward trend, making it the worst-performing Asian currency in August. This weakening of the INR can be attributed to trade deficits and persistent USD demand from importers. Limited impact expected due to…
Get Ready to Pound the Market: GBP/USD Soars to New Heights on Tuesday!
Embracing the Rollercoaster Ride of GBP/USD Riding the Market Wave GBP/USD chalked in another third of a percent gain on Tuesday, squeezing out a fresh 13-month high and closing in the green for a third straight day. The Pound Sterling is on a winning streak, capitalizing on broad-market Greenback weakness. Market sentiment is at an…
Gold and Wall Street Rally Fatigue: ASX Expected to Open Lower on Asian Market Open
Signs of Fatigue in Key Markets Gold Futures Reach Record High Signs of fatigue have surfaced across several key markets which had otherwise began the week on a strong footing. Gold futures pushed to a new record high of 2531 before handing back over half of the day’s gains. This sudden decrease in value has…
USD/CHF Takes a Dive Below 0.8600 as the US Dollar Continues to Weaken – A Closer Look at the Latest Market Movement
The USD/CHF pair faces intense sell-off Swiss Franc plummets as US Dollar slides The USD/CHF pair faces an intense sell-off and slides below the round-level support of 0.8600 in Tuesday’s North American session. The Swiss Franc asset plummets as the US Dollar (USD) has declined to a multi-month low as investors seem to be strongly…
Canadian Dollar Dips as CPI Strengthens Case for BOC Rate Cut in September, While Gold Continues to Rally: A Market Overview
The Impact of the Canadian Dollar on the Global Economy Recent Economic Data The Canadian Dollar has come under broad pressure in the early US session following the release of the latest inflation data, which showed a further slowdown in inflation. Headline CPI fell to a 40-month low and core measures also eased. This set…
Clever, Personable, and Unconventional: A Reader-Friendly Look at NZD/USD’s Multi-Week High Above 0.6100
The NZD/USD pair builds on the overnight breakout momentum Breaking through the 200-day Simple Moving Average The NZD/USD pair is showing strong momentum as it continues to build on the overnight breakout through the very important 200-day Simple Moving Average (SMA). The pair has been scaling higher for the third successive day on Tuesday, with…
EUR/JPY Soars to 163.00 as JPY Supply Increases: A Look at Final Eurozone CPI for Potential Momentum Boost
The EUR/JPY Cross: A Volatile Ride Introduction The EUR/JPY cross recently saw a significant rally of nearly 130 pips from its Asian session low, reaching around the 161.70 region and spiking to a fresh daily peak in the last hour. This surge was driven by fresh selling pressure around the Japanese Yen (JPY), with spot…
Gold Price Stuck in a Funky Range Around $2,500: Bulls Refuse to Surrender Just Yet!
Hey there, Gold Diggers! Talking Gold Prices: More Than Just Shiny Rocks So, you’ve heard the buzz about the gold prices taking a little dip lately, huh? Well, don’t worry, you’re not alone. The XAU/USD has been on a bit of a rollercoaster ride, with modest losses being registered on Monday. But hey, that’s just…