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FXStreet - The Foreign Exchange Market - Economy
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EUR/USD edges higher above 1.1700 as Fed cut bets grow
EUR/USD advanced on Monday, gaining over 0.20% amid a thin liquidity trading session, as US financial markets were closed due to the Labor Day holiday. A soft US D.S. dollar and growing bets that the Federal Reserve will cut rates at the September meeting, boosted Ethe euro’s appeal.
Pound Sterling Price News and Forecast: GBP/USD opens the door to a visit to 1.3600
The British Pound (GBP) is rapidly recovering from Friday’s hiccup and manages to regain composure on Monday, lifting GBP/USD past 1.3500, a figure in a context dominated by the widespread selling bias in the US Dollar (USD).
Silver Price Forecast: XAG/USD consolidates above $40.50 after breakout to 14-year highs
Silver (XAG/USD) kicks off the week on a strong footing, with spot prices extending their rally for a fifth consecutive session, breaking above the $40.00 mark to hit fresh 14-year highs — levels last seen in September 2011.
Japanese Yen posts modest gains to near 147.00 ahead of US Manufacturing PMI data
The USD/JPY pair trades with mild losses near a four-week-old trading range support around 147.15 during the early Asian session on Tuesday. The US August ISM Manufacturing Purchasing Managers Index (PMI) will take center stage later on Tuesday.
WTI steady as NFP and OPEC+ loom, India stands firm against US backlash
West Texas Intermediate (WTI) Crude Oil is rebounding modestly on Monday, trading near $64.45 after logging its first monthly decline since April with a 7.42% drop in August as rising US supply and weaker seasonal demand weighed on sentiment.
WTI edges lower below $64.50 amid fears of weaker demand
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $64.50 during the early Asian trading hours on Tuesday. The WTI edges lower amid concerns about weaker global demand following US President Donald Trump's doubling of the existing 25% duty on Indian exports.
Forex Today: US Q2 GDP and the labour market take centre stage
The US Dollar (USD) ended the day alternating gains with losses, giving away strong gains recorded earlier in the day on Wednesday. This irresolute price action came amid unabated concerns surrounding the Fed’s independence and the absence of important developments on the trade front.
Gold holds near $3,400 as Fed bets, politics weigh
Gold price remains steady on Wednesday, even though the Greenback recovered from earlier losses triggered by threats to the Federal Reserve’s (Fed) independence. Nevertheless, Bullion sellers are not out of the woods as pressure from the White House continues. The XAU/USD trades at $3,397, up 0.12%.
WTI rebounds to $64.00 as EIA draw and softer Dollar lift sentiment
WTI (West Texas Intermediate) Crude Oil is rebounding on Wednesday after a sharp 2.27% drop in the previous session. At the time of writing, the US benchmark trades near $64.00 per barrel, up 1.2% on the day and recovering from a five-day low of $62.80 hit earlier in European trading hours.
USD/CHF Price Forecast: Slips to 0.8020 as safe-haven boosts Franc
USD/CHF extended its downtrend for the second straight day, down 0.16%, trading at 0.8020 after hitting a daily high of 0.8076. A flight to safety has favored the Swiss Franc as the Dollar digest the dovish tilt by the Fed Chair Jerome Powell, who opened the door for adjusting interest rates.
Pound Sterling Price News and Forecast: GBP/USD dips to 1.3457 as Fed turmoil boosts US Dollar rebound
GBP/USD drops over 0.16% on Wednesday as the US Dollar (USD) continues to recover some ground, courtesy of the White House's threats to the independence of the Federal Reserve (Fed), which triggered a rise on the long end of US Treasury bond yields.