Technical Analysis
NZD, Technical Analysis, USD
New Zealand Dollar gains momentum to near 0.5900, US NFP data looms
The NZD/USD pair gathers strength to near 0.5895 during the Asian trading hours on Friday. The US Dollar (USD) softens against the New Zealand Dollar (NZD) following Federal Reserve (Fed) Governor Christopher Waller’s remarks. Traders brace for the US August employment report later on Friday. Waller said on Thursday that he is leaning toward keeping interest rates steady at the […]
by Currency Hedger
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- 2 months ago
Technical Analysis, USD
United States Dollar Index weakens as Fed’s Waller signals rate pause
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is losing ground for the third consecutive day and trading around 99.00 during Asian hours on Friday. The Greenback is facing notable downward pressure following comments from Federal Reserve (Fed) Governor Christopher Waller, who indicated a preference for keeping […]
by Currency Hedger
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- 2 months ago
Metals, Technical Analysis
XAG/USD trades below $67.00 amid mixed setup as US NFP looms
Silver (XAG/USD) edges lower during the Asian session on Friday, snapping a two-day winning streak to the weekly high set the previous day. The white metal, however, lacks bearish conviction and currently trades below the $67.00 mark, down 0.30% for the day, as traders await the release of the closely watched US Nonfarm Payrolls (NFP) report. […]
by Currency Hedger
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- 2 months ago
AUD, Technical Analysis, USD
Australian Dollar strengthens on RBA hike odds
AUD/USD extends its gains for the third successive day, trading around 0.7210 during the Asian hours on Friday. The currency pair is gaining upward momentum as the Australian Dollar (AUD) finds firm support in robust economic growth data, which has heightened expectations of an imminent interest rate hike. Australia’s economy proved surprisingly resilient in the second […]
by Currency Hedger
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- 2 months ago
EUR, Technical Analysis, USD
EUR/USD Price Forecast: 20-day EMA acts as key support level
The Euro (EUR) is up 0.2% to near 1.1610 against the US Dollar (USD) during the European trading session on Thursday. The major currency pair gains as the US Dollar underperforms due to multiple headwinds, weak United States (US) ADP Employment Change data for August and the Federal Reserve (Fed) pushing back upside inflation risks. US Dollar […]
by Currency Hedger
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- 2 months ago
Metals, Technical Analysis
Gold Price – XAU/USD recovery, likely to be challenged around $4,470
Gold (XAU/USD) is trading higher on Thursday, returning to levels above $4.400 after bouncing from three-week lows near $4,280 on Wednesday. The precious metal is drawing support from a weaker USD, as ADP employment data disappointed and New York Federal Reserve (Fed) President John Williams tamed rate hike expectations, but Fed tightening bets remain solid, and […]
by Currency Hedger
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- 2 months ago
EUR, GBP, Technical Analysis
EUR/GBP at two-month highs following Services PMIs
The Euro (EUR) extends gains against a weaker British Pound (GBP) for the fourth consecutive day on Thursday, following downward revisions of both the Eurozone and UK Services Purchasing Managers’ Index (PMI) figures. The EUR/GBP pair maintains its bid tone, with bulls targeting a previous support area a few pips above 0.8600 after rallying nearly 0.5% so far this week. Eurozone […]
by Currency Hedger
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- 2 months ago
INR, Technical Analysis, USD
Indian Rupee gets supercharged by strong inflows through FCNR deposits
The Indian Rupee (INR) opens strongly against the US Dollar (USD) on Thursday, extending the rally to near 94.28. The Indian currency gains significantly as a juggernaut mobilisation of foreign exchange in India through the Reserve Bank of India’s (RBI) Foreign Currency Non-Resident (FCNR) (B) deposits window has increased FX reserves. According to a Reuters […]
by Currency Hedger
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- 2 months ago
Metals, Technical Analysis
XAG/USD struggles to extend upside above $66.25, NFP data awaited
Silver price (XAG/USD) struggles to extend Wednesday’s strong recovery move above $66.25 during the European trading session on Thursday. The white metal could remain sideways as investors await the United States (US) Nonfarm Payrolls (NFP) data for August, which will be released on Friday. US jobs rebound seen keeping Fed on hold despite hawkish risks According […]
by Currency Hedger
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- 2 months ago
Institutional, Technical Analysis
Bond markets still in focus, as Iran war heats up
The bond market sell off is once again the main driver of price action on Wednesday. Stocks are broadly lower across Europe, with tech and industrials taking the brunt of the sell off. However, the decline in stocks is milder than it was on Tuesday. US futures are also pointing to a lower open, after […]
by Currency Hedger
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- 2 months ago