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Gold price sets for a breakdown ahead of Fed Powell’s speech

Gold price (XAU/USD) falls further as upside risks of Middle East tensions ease. The precious metal remains on the backfoot as market participants expect conflicts to remain contained between Israel and Palestine. Along with fading Middle East conflicts, caution over the interest rate outlook from the Federal Reserve (Fed) has dampened appeal for the Gold. Investors […]

Is China on The Brink of Stagflation?

China’s economic outlook is currently under stress caused by its weak real estate sector, where declining property prices and demand signal broader economic issues. As property is a significant component of household wealth in China, the drop in apartment prices has made many reluctant to spend, which contributes to economic performance. Moreover, the country’s strict […]

Pound Sterling falls back ahead of UK’s Q3 GDP data

The Pound Sterling (GBP) is stuck in a tight range as investors seem unwilling to build fresh positions ahead of the release of the UK Q3 Gross Domestic Product (GDP) data, published on Friday at 07:00 GMT. The GBP/USD pair remains on tenterhooks as the Q3 GDP report will shape December’s monetary policy outlook of […]

US Dollar steady as markets brace for Powell and jobless numbers

The US Dollar (USD) looks to be on a drift this week and is looking for direction, or a catalyst that might guide it in any way. The fact that the US Dollar Index is right in the middle of this week’s trading range, clearly points to some fatigue in the Greenback while traders are trying to assess […]

Pound Sterling remains vulnerable as focus shifts to UK Q3 GDP data

The Pound Sterling (GBP) is declining gradually as investors have turned cautious ahead of the UK Q3 Gross Domestic Product (GDP) data and Federal Reserve (Fed) Chair Jerome Powell’s remarks on the interest rate outlook. Economists have forecasted a nominal contraction in the UK’s growth rate as firms underutilized their entire capacity due to weak […]

USD/CHF maintains position above 0.9000 on stronger US Dollar

USD/CHF retraces recent losses, trading higher around 0.9020 during the European session on Wednesday. The pair receives upward support due to the rebound in US Dollar (USD) on the back improved US Treasury yields. On Tuesday, Switzerland’s seasonally adjusted Unemployment Rate (MoM) remained consistent at 2.1% in October. Additionally, the conflict between Israel and Hamas […]

WTI drops to over three-month lows on increased supply, trades near $77.20

Western Texas Intermediate (WTI) rebounds from over three-month low, struggling around $77.20 per barrel during the Asian hours on Wednesday as US Dollar aims to recover the losses registered during the previous week. However, Crude oil prices took a dip due to indications of increased supply, with industry data revealing a substantial build in United […]

Australian Dollar holds ground with a bearish tone amid RBA uncertainty

The Australian Dollar (AUD) moves below a major level, extending the losses for the third successive day following the dovish rate statement by the Reserve Bank of Australia (RBA). Additionally, the AUD/USD pair faces a challenge due to the rebound in US Dollar (USD). Australia’s central bank adopts a data-dependent approach, particularly as the Australian […]

Gold Futures: Downside appears to lose traction

Open interest in gold futures markets shrank by almost 1K contracts after three consecutive daily pullbacks on Tuesday, according to preliminary readings from CME Group. Volume, instead, remained choppy and went up by around 123.5K contracts. Gold: A drop to the 200-day SMA is not ruled out Gold prices extended the pessimism in the first half […]

EUR/USD Price Analysis: Moves below key level at 1.0700 toward seven-day EMA

EUR/USD extends the losing streak, trading lower around 1.0690 during the Asian session on Wednesday. As the US Dollar (USD) continues to gain ground, the EUR/USD pair could reach the seven-day Exponential Moving Average (EMA) at 1.0666, which emerges as the key support, following the 1.0600 psychological level. A firm break below the latter could push […]