EUR/USD Takes Offers to Refresh 2.5-Month Low Near 1.0780 Market Players Await Jackson Hole Speeches from ECB President Lagarde and Fed Chairman Powell EUR/USD is under pressure, hitting a 2.5-month low near 1.0780 as we head into Friday’s European session. Market players are eagerly anticipating speeches from European Central Bank (ECB) President Christine Lagarde and…
The Impact of GBP/USD Rejection Slide Introduction The GBP/USD pair has been experiencing a prolonged rejection slide from the 1.2800 mark, showing signs of continued selling pressure for the fourth consecutive day. Spot prices have dropped to a more than two-month low, around the 1.2585 region during the Asian session. This confirms the overnight breakdown…
Gold’s Price Volatility: A Rollercoaster Ride Emotional Rollercoaster Gold Price (XAU/USD) fluctuates around the weekly highs, currently sitting at $1,916 during early Friday’s Asian trading session. This comes as a surprise after a bearish turn on Thursday. The yellow metal seems poised to end its four-week losing streak, with all eyes on Federal Reserve (Fed)…
Gold Price Recovers as US Dollar Weakens Introduction The price of gold (XAU/USD) has seen a confident recovery as the US Dollar and Treasury yields faced selling pressure. This followed a report from S&P Global which showed weak preliminary PMI data for August. The lower factory activity and bleak service sector growth are raising concerns…
The Impact of Fresh Supply on NZD/USD Pair on Thursday Background The NZD/USD pair encountered fresh supply on Thursday, leading to a reversal of a significant portion of the previous day’s gains. The pair reached a one-week high of 0.5985 before spot prices dipped to a daily low in the mid-0.5900s during the early European…
The Current State of USD/JPY Pair Regaining Positive Traction Asian Session Snapshot The USD/JPY pair has been making positive moves during the Asian session on Thursday, breaking a two-day losing streak that led it to a one-and-half-week low at around mid-144.00s touched the previous day. Currently, spot prices are trading just above the 145.00 psychological…
Gold price strengthens on fading hopes of more interest-rate increases What is happening with gold prices? Gold prices (XAU/USD) have been strengthening this week as the rally in US Treasury yields has come to a halt. This pause in the rise of Treasury yields is due to fading hopes of more interest-rate increases from the…
EURUSD Price Forecast: Wedge Pattern Suggests Limited Weakness Ahead Introduction The EURUSD pair came down as expected to a new low after a wave 4 corrective rise. The price is now seen in a wave back, back at the 1.0830 support level. Therefore, the wedge shape of the price action may suggest limited weakness and…
