Trade of the day – GOLD
Metals, Technical Analysis
Trade of the day – GOLD
Facts Recommendation Short position on GOLD at the current market price. Opinion Gold is facing a growing problem: a stronger U.S. dollar and a lack of fresh upside catalysts. No new source of momentum emerged despite the pullback in oil markets, pushing the price down toward $4,320 per ounce and erasing a significant portion of […]
by Currency Hedger
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- 1 month ago
DBS, Institutional
Swiss Franc: SNB preview signals steady policy – DBS
DBS Group Research economist Philip Wee expects the Swiss National Bank to keep its policy rate unchanged at 0% at the September 24 meeting, despite higher energy prices and a modest uptick in headline inflation. He sees scope for a near-term inflation forecast upgrade, but notes that Swiss growth has improved and CHF haven pressures […]
by Currency Hedger
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- 1 month ago
United Kingdom flash Services PMI expands slower-than-expected to 51.7 in September
The United Kingdom (UK) S&P Global Services Purchasing Managers’ Index (PMI) expands at a moderate pace to 51.7 in September. The data was already anticipated to arrive lower at 52.0 from 52.5 in August. Weak UK Services PMI led to a slowdown in the overall business activity. The Composite PMI dropped to 51.7 from 52.5 […]
by Currency Hedger
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- 1 month ago
Institutional, Rabobank
Oil: Geopolitics drive volatile price path – Rabobank
Rabobank strategist Michael Every notes Oil prices are currently lower on hopes for de-escalation in multiple conflicts, including developments around Saudi infrastructure, Iran talks and Ukraine. However, Every stresses that hardened positions in Iran, Russia and broader security shifts mean energy prices could still change dramatically depending on how major geopolitical deals and confrontations evolve. […]
by Currency Hedger
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- 1 month ago
Institutional, UOB
Japanese Yen: Downside still favoured toward 158.40 against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann maintain a constructive short-term view on USD/JPY after the pair closed at 157.37. They still see scope for further US Dollar (USD) strength, with intraday moves expected within 157.10–157.90 and firm resistance at 158.40. Strong support is revised up to 156.45, while their longer-term […]
by Currency Hedger
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- 1 month ago
Strong PMI indicators do not help the euro! EURUSD tests key 1.1400 level
The latest preliminary PMI estimates for September brought a clear positive surprise on the demand side in the euro area. Economic activity in Europe is visibly accelerating, with key economies in the region, led by France and Germany, recording a strong rebound in the services sector. Despite challenges related to cost pressures and previous monetary […]
by Currency Hedger
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- 1 month ago
Economic calendar: how will global turmoil affect preliminary PMI reports?
Wednesday’s macroeconomic calendar will focus primarily on the preliminary September PMI readings . Before noon, data from France, Germany, and the broader Eurozone will show whether the European economy is maintaining its moderate pace of recovery. In Poland, the August unemployment rate will be released, while in the afternoon the main focus will shift to […]
by Currency Hedger
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- 1 month ago
AUD, JPY, Technical Analysis
AUD/JPY Price Forecast: Holds losses below 112.00, retaining bearish outlook beneath 100-day SMA
The AUD/JPY cross trades in negative territory around 111.95 during the early European session on Wednesday. A lack of explicitly hawkish guidance from the Bank of Japan (BoJ) after the rate hike last week exerts some selling pressure on the Japanese Yen (JPY) against the Australian Dollar (AUD). The BoJ last week decided to raise its […]
by Currency Hedger
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- 1 month ago
CHF, USD
Swiss Franc weakens as US Dollar rises on hawkish Fed sentiment
USD/CHF gains ground after four days of losses, trading around 0.8220 during Asian hours on Wednesday. The currency pair appreciates as the US Dollar (USD) gains ground on the back of a hawkish policy outlook from the Federal Reserve (Fed). Following a recent 25 basis point increase that brought the benchmark interest rate target to […]
by Currency Hedger
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- 1 month ago
EUR, Technical Analysis, USD
EUR/USD Price Forecast: Hits fresh low since July 29, around 1.1425 as USD stays firm
The EUR/USD pair remains under some selling pressure for the third straight day, touching a fresh low since July 29, around the 1.1425 region, during the Asian session on Wednesday. The US Dollar (USD) retains its bullish undertone amid the US Federal Reserve’s (Fed) hawkish outlook and geopolitical risks. The shared currency, on the other […]
by Currency Hedger
- 0 Comments
- 1 month ago