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Gold Hits 6 Year High

Gold Hits 6 Year High

Gold registers an impressive rally after it broke above the 1,357 yearly higher as bids were throwing like there is no tomorrow for the yellow metal. Short covering also helped for the gold to reach 1,394 a level that we haven’t seen since 2013. USD weakness is the catalyst for [...]
Fed Pressures the USD Index

Fed Pressures the USD Index

The dollar index is under pressure today giving up 0.42 percent to 96.82 approaching multi month low, after yesterday, FED left interest rates unchanged as widely expected by markets but changed its language to more dovish amid growing global trade fears. Investors now expect that the U.S. central bank is [...]
Pound Breaks Above 1.27

Pound Breaks Above 1.27

GBPUSD trades at 1.2704 after an impressive rally that started yesterday and ahead of Bank of England interest rate decision later today.  Pound got a boost after FED left interest rates unchanged as widely expected by markets but changed its language to more dovish amid growing global trade fears. Later [...]
What will Drive FX Markets Today

What will Drive FX Markets Today

In old continent today investors await the UK retail sales data, to be released at 08:30GMT. The ECB Economic Bulletin will be released at 09:00GMT while the Eurozone Consumer Confidence will be released at 14:00GMT In the American trading session the weekly Jobless Claims, the Philly Fed Manufacturing Index and [...]
EURUSD: Dovish Fed Supports Euro

EURUSD: Dovish Fed Supports Euro

Euro after a quiet session trading around 1.12 managed to break higher at 1.1256 after the FED kept interest rates unchanged but removed the word “patient” from its statement as global trade war have an impact to US economy. Also in the statement changed   the “solid” outlook for US economy [...]
USDMXN in Tight Trading Range

USDMXN in Tight Trading Range

USDMXN is adding 0.32 percent to 19.1827 ahead of the FOMC policy decision with most economists expect now 3 cuts of 25bps each at the July, September and December meetings. The economic growth in Mexico is deteriorating, amid slower economic activity in the USA, a tight fiscal stance and a [...]
USDCAD Breaks Below 1.34 Ahead of FOMC

USDCAD Breaks Below 1.34 Ahead of FOMC

USDCAD trades lower today at 1.3377 as traders are cautious ahead of the important FOMC policy meeting. Loonie got a boost from crude oil rally yesterday above $54 per barrel. Canada has fallen out of the top 10 of the world’s most competitive economies, a sign that Canadians may have [...]
FOMC Policy Meeting Preview (upd)

FOMC Policy Meeting Preview (upd)

Here are the key quotes that we have collect from major banks across the globe about their expectations from Fed’s policy decision tomorrow: Nordea Markets: suggests that they doubt that the US Fed will be ready to cut its policy rates at today’s FOMC meeting but expect a clear signal [...]
Gold Retreats, Bullish Momentum Holds

Gold Retreats, Bullish Momentum Holds

Gold is trading lower today and as of writing is testing the 100 hour moving average after a volatile session which started higher and rejected at the 20 hour moving average at 1,347. The precious metal looks trapped between the hourly moving averages in 10 dollars trading range as investors [...]
USDJPY at Weekly Lows, FOMC in Focus

USDJPY at Weekly Lows, FOMC in Focus

USDJPY is under selling pressure today despite news that President Trump said he “had a very good telephone conversation” with China’s leader President Xi and that they will have “an extended meeting next week at the G20 summit in Japan”. This settled some concerns that both leaders might not meet. [...]