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“The fight against inflation is not yet won,” European Central Bank (ECB) President Christine Lagarde said at an annual conference of central bankers in Jackson Hole last Friday. Lagarde added that interest rates in the European Union will need to stay high “as long as necessary” to slow still-high inflation. Therefore, the upcoming Eurozone inflation data will hold the utmost significance […]
CME Group’s flash data for natural gas futures markets noted traders scaled back their open interest positions by more than 5K contracts on Wednesday, partially reversing the previous daily build. In the same line, volume dropped for the second consecutive session, now by around 25.4K contracts. Natural Gas remains capped by $3.00 Prices of natural gas extended […]
Considering advanced prints from CME Group for gold futures markets, open interest increased for the second session in a row on Wednesday, this time by around 5.5K contracts. Volume, instead, shrank by around 34.3K contracts after the previous daily build. Gold: Next on the upside comes $1987 Gold prices extended the recovery for the third consecutive […]
The USD/JPY pair attracts some sellers during the early European session on Thursday. The major currently trades around 145.90, losing 0.23% on the day. Markets turn cautious ahead of the release of the US Personal Consumption Expenditures (PCE) Price Index, the Federal Reserve (Fed) preferred gauge of inflation. Furthermore, Bank of Japan (BoJ) Board member Toyoaki […]
Gold Price (XAU/USD) holds steady at the highest level in four weeks during a four-day winning streak as market players await the key inflation clues from the US and Eurozone. That said, the recently downbeat US data have raised concerns about the Federal Reserve’s (Fed) policy pivot and bolstered the XAU/USD price. On the same […]
USD/RUB gains momentum for the third consecutive day during the early European session on Thursday. The pair currently trades near 96.40, up 0.27% on the day. The Russian Ruble devalued to over 96 against the US Dollar, a 16-month low due to the economic challenge in Russia Russian President Vladimir Putin stated last week that […]
WTI crude oil lacks clear directions while making rounds to $81.30–40 heading into Thursday’s European session, snapping a two-day winning streak with mild losses. In doing so, the black gold portrays the market’s cautious mood ahead of the key US inflation and employment clues while ignoring the heavy inventory draw and supply-crunch fears emanating from […]
EUR/USD picks up further pace and climbs to weekly highs near 1.0930, an area coincident with the 100-day SMA, on Wednesday. The pair’s current momentum seems to be favouring the continuation of the march north for the time being. That said, there is a temporary hurdle at the 55-day SMA at 1.0968, which precedes the psychological […]
Gold Price (XAU/USD) struggles to gain around $1,935 during the early European session on Wednesday. The weaker US dollar and a sharp drop in US Treasury yields drags the Greenback lower across the board. Meanwhile, the US Dollar Index (DXY) edges lower to 103.55 while the 10-year yield fell from 4.20% to 4.14%, near the lowest level […]
USD/CHF clings to mild gains around 0.8790 as it consolidates the biggest daily loss since late July, marked the previous day, amid the early hours of Wednesday’s European session. It’s worth noting that the US Dollar’s positioning for top-tier data and the market’s reassessment of the previous dovish bias about the Federal Reserve (Fed) allowed the […]