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XAG/USD seems vulnerable, convincing break below $24.00 awaited

Silver meets with a fresh supply on the first day of a new week and erodes a part of Friday’s modest recovery gains from the vicinity of the $24.00 mark, or over a two-week low. The white metal maintains its offered tone through the early European session and currently trades around the $24.25 region, down nearly […]

Crude Oil Futures: Extra gains under scrutiny

CME Group’s flash data for crude oil futures markets noted traders reduced their open interest positions by just 685 contracts on Friday, reaching the third daily drop in a row. In the same line, volume resumed the decline and went down by almost 155K contracts. WTI: Next target now comes at the 2023 high Prices […]

USD Index looks slightly bid around 101.70

The USD Index (DXY), which gauges the greenback vs. a bundle of its main rival currencies, looks to extend the ongoing rally near the 101.70 region on Monday. USD Index looks at data, risk trends The index continues to maintain a positive and optimistic trend, carrying forward the recovery that has been observed in the latter […]

XAU/USD seesaws within $1,950-70 trading range as NFP week begins 

Gold Price (XAU/USD) remains on the sideline, mildly offered, as market players brace for this week’s top-tier US employment and activity data. That said, the yellow metal printed the first weekly loss in four the last but failed to impress the XAU/USD nears as it recovered on Friday amid softer US inflation clues. That said, […]

GBP/USD Price Analysis: Bears take control in long squeeze

GBP/USD ended at around 1.2840 on Friday after reaching its lowest level since July 6 while investors remain concerned that the hawks will continue to circle over the Federal Reserve following the release of stronger-than-expected second-quarter Gross Domestic Product data from the US. Meanwhile, in the UK, weaker-than-expected PMI data and lesser inflation are pointing towards a less hawkish […]

EUR/JPY Moved Higher following BoJ decision and German data

At the time of writing, the EUR/JPY pair is trading near the 155.50 area, marking a significant 1.54% increase from its opening price. The pair experienced a daily low of 151.40, and then the Yen lost interest as investors took the Bank of Japan decision as dovish. On the one hand, Thursday’s rumours materialised, and the […]

EUR/USD Price Analysis: Bears licking their lips as bulls face wall of resistance

EUR/USD traded higher Friday as the US Dollar bears pounced on data that inflation showed further signs of cooling in June according to Personal Consumption Expenditure data. However, the DXY was still set for the second straight week of gains, underpinned by stronger-than-expected US economic data. Nevertheless, EUR/USD was headed towards the close on Wall Street higher […]

WTI Price Analysis: Bears are waiting to pounce but bulls putting up a fight

WTI crude also rose  4.6% for the week, marking the fifth consecutive weekly increase, the longest winning streak since the week ending June 10, 2022. This leaves the longs exposed for the days ahead with the past 5 weeks of fundamentals playing in and ripe for a squeeze despite this week’s EIA data that was skewed […]

USD/CAD gains traction above the 1.3230 mark

The USD/CAD pair retreats from 1.3248 and currently trades around 1.3225, up 0.01% for the day. The encouraging GDP figure supports the uptick of the US Dollar. The US Dollar Index (DXY), a measure of the Greenback against a basket of currencies used by US trade partners, holds above 101.70 heading into the early European session. Market participants will […]

July 28, 2023
By admin

EUR/USD bounces off 1.0950 support as German, US inflation cues loom

EUR/USD licks its wounds at the lowest levels in three weeks, picking up bids to 1.0985 amid the early hours of Friday’s European session. In doing so, the Euro pair portrays the positioning for the top-tier inflation clues from Germany and the US amid sluggish markets. The major currency pair slumped the most in four […]