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Archive for September, 2023

Banking Capital Markets Forex Technical Analysis
September 14, 2023
By admin

Chart of The Day EUR/USD

Today’s ECB decision, which will be announced at 13:15 BST, will be in the spotlight of global markets and has a good chance to drive volatility on the EURUSD. What’s more, both the rate hike and the rate hike will come as some kind of surprise to the markets, which are not decided on the […]

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Banking Capital Markets Economic Finance Forex Technical Analysis
September 14, 2023
By admin

ECB Preview: Three scenarios and their implications for EUR/USD – TDS

Economists at TD Securities discuss the European Central Bank (ECB) Interest Rate Decision and their implications for the EUR/USD pair. Hawkish (45%): 25 bps hike and dovish guidance 25 bps hike with slightly softer language in the press statement. President Lagarde reiterates the importance of remaining data dependent, but softens her language around further hikes to imply that the […]

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Banking Capital Markets Forex
September 14, 2023
By admin

PBOC told banks to hold off on immediate USD purchases in interbank market

Citing two sources with knowledge of the matter, Reuters reported on Thursday, the People’s Bank of China (PBOC) urged some of the country’s biggest banks to leave their forex market open positions for a while in order to alleviate downside pressure on the Yuan. Key takeaways PBOC asks some banks to hold off on immediate Dollar purchases […]

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Capital Markets Commodities Precious Metals Technical Analysis
September 14, 2023
By admin

Gold Price Forecast: XAU/USD treads waters above $1,900 to retrace recent losses

Gold price attempts to snap a two-day losing streak, edging higher around $1,910 per troy ounce during the Asian session on Thursday after Consumer Price Index (CPI) data from the United States (US). US Consumer Price Index (CPI) (YoY) exceeded expectations, rising to 3.7% from the previous rate of 3.2%, surpassing the market’s anticipated 3.6% for August. […]

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Capital Markets Commodities Energy Commodities Technical Analysis
September 14, 2023
By admin

WTI retraces from a 10-month high, hovers around $88.20 amid the surge in US inventories

Western Texas Intermediate (WTI), the US crude oil benchmark, is trading around the $88.25 mark so far on Thursday. WTI prices pullback from the 10-month high amid the unexpected surge in US inventories and the renewed USD demand. US crude oil inventories increased by nearly 4M barrels for the week ending September, the first rise […]

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Banking Capital Markets Forex Technical Analysis
September 8, 2023
By admin

USD Index takes a breather and drops below 105.00

Following recent multi-week tops past the 105.00 barrier, the greenback now gives away part of those gains when tracked by the USD Index (DXY) at the end of the week. USD Index meets resistance around 105.15 The index comes under pressure and slips back below the 105.00 mark on Friday following three consecutive daily advances, although the […]

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Banking Capital Markets Economic Forex Technical Analysis
September 8, 2023
By admin

Pound Sterling recovery move seems short-lived due to dampened economic outlook

The Pound Sterling (GBP) discovered intermediate support as investors started digesting the potential risks of global economic turmoil due to restrictive monetary policy by Western central bankers. The GBP/USD pair finds an intermediate cushion, but the broader bias remains bearish as investors expect that policy divergence between the Federal Reserve (Fed) and the Bank of England (BoE) may not […]

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Capital Markets Commodities Precious Metals Technical Analysis
September 8, 2023
By admin

Gold Price Forecast: XAU/USD maintains its bid tone around $1,925 area, lacks follow-through

Gold price gains some positive traction for the second successive day and recovers further from over a one-week low, around the $1,915 region touched on Wednesday. The XAU/USD maintains its bid through the early European session and currently trades around the $1,925-$1,926 area, up over 0.30% for the day. Against the backdrop of concerns about […]

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Capital Markets Commodities Energy Commodities Technical Analysis
September 8, 2023
By admin

Crude Oil Futures: Extra correction in the pipeline

Open interest in crude oil futures markets increased for the fifth session in a row on Thursday, now by around 12.6K contracts according to preliminary readings from CME Group. Volume, instead, shrank for the second straight day, this time by around 188.1K contracts. WTI: Resistance emerges around $88.00 WTI prices came under some downside pressure on […]

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Banking Capital Markets Economic Forex Technical Analysis
September 7, 2023
By admin

Pound Sterling cracks as BoE casts doubts over upcoming hikes

The Pound Sterling (GBP) cracked significantly amid increasing risk-aversion and dovish remarks from Bank of England (BoE) Governor Andrew Bailey and policymaker Swati Dhingra about September’s monetary policy decision. The GBP/USD pair is expected to remain on tenterhooks as policy divergence between the BoE and the Federal Reserve (Fed) is likely to persist if the UK’s central bank decides […]

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