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USD/CAD Price Remains below 1.3800 as bearish bias prevails
CAD
USD/CAD Price Remains below 1.3800 as bearish bias prevails
USD/CAD extends its losses for the third consecutive day, trading around 1.3780 during the European hours on Wednesday. The technical analysis of the daily chart indicates the pair is falling within the descending channel pattern, signalling a persistent bearish bias. USD/CAD is holding a bearish near-term bias as spot remains under both the nine-day and […]
by Currency Hedger
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- 1 week ago
Metals
Platinum Rises Toward Multi-Month Highs
Platinum futures rose above $1,860 an ounce, moving back toward multi-month highs as expectations for stronger industrial demand and constrained mine supply continued to support the market. Industrial demand is forecast to rise 9% this year, supported by a sharp recovery in platinum use in the glass industry, while mine supply remains constrained, particularly in […]
by Currency Hedger
- 0 Comments
- 1 week ago
Institutional, Metals
Aluminum Holds at 4-Week High
Aluminum futures in the UK were at $3,330 per tonne, their highest level in four weeks, supported by persistent supply tightness and shrinking inventories. The ongoing US-Iran conflict has crimped aluminum flows from the Middle East, with GCC output falling 44% year-on-year in July. LME inventories remained near a 36-year low, while SHFE inventories fell […]
by Currency Hedger
- 0 Comments
- 1 week ago
Metals
Zinc Tops $4,000 Amid Supply Concerns
Zinc prices surpassed $4,000 per tonne for the first time since 2022, as the market faced significant supply pressures. Production disruptions at several mines, including in China, have raised concerns over concentrate availability, while heightened tensions in the Middle East have restricted Iranian ore shipments. Major zinc mines, including Antamina in Peru and Red Dog […]
by Currency Hedger
- 0 Comments
- 1 week ago
Institutional, Technical Analysis
Trade of The Day – Coffee
Facts: Recommendation: COFFEE (D1) Source: xStation5 OPINION: After the breakout from a double top pattern, the price is highly likely to be entering a new market regime, with the current target direction defined by a parallel descending channel. The downward move is strongly supported by the so-called “Death Cross” (EMA100 and EMA200). Based on the […]
by Currency Hedger
- 0 Comments
- 1 week ago
Institutional
Economic calendar: Macro releases overshadowed by the Middle East conflict
Wednesday’s macroeconomic calendar is relatively light and does not include any releases that are likely to independently set the direction for global markets. We already received the latest data from China overnight, where CPI inflation accelerated to 0.8% YoY in August, while PPI rose by 3.8% YoY . Later in the day, attention may turn […]
by Currency Hedger
- 0 Comments
- 1 week ago
NZD, Technical Analysis
NZD/USD Price Forecast: Rises in limited range with US CPI in focus
The New Zealand Dollar (NZD) trades 0.13% higher at around 0.5860 against the US Dollar (USD) during the European trading session on Wednesday, but remains inside Tuesday’s trading range. The Kiwi pair gains as the US Dollar underperforms despite Federal Reserve (Fed) interest rate hike expectations. At press time, the US Dollar Index (DXY), which gauges the […]
by Currency Hedger
- 0 Comments
- 1 week ago
Institutional
European Central Bank: Further hikes risk skewed to upside – Nomura
Nomura strategists expect the European Central Bank (ECB) to raise rates this week, taking the depo rate to 2.50%, and to keep it there for the foreseeable future. They see another hike after a 2025 cut back to neutral to counter Iran war-related inflation risks, and do not foresee ECB rate cuts in coming years. ECB seen […]
by Currency Hedger
- 0 Comments
- 1 week ago
Energies, Institutional
WTI Oil erases losses and returns above $92.00 as hostilities in the Gulf escalate
Crude prices maintain their bullish tone on Wednesday, as the situation in the Middle East risks escalating into an all-out regional war. The US Benchmark West Texas Intermediate (WTI) has retraced previous losses to hit fresh three-month highs at $92.70, with the early-June highs of $94.87 in sight. The war in Iran escalated to a […]
by Currency Hedger
- 0 Comments
- 1 week ago
Metals, Technical Analysis
Silver Price XAG/USD approaches $67.00 as bulls await trading range breakout
Silver (XAG/USD) builds on its intraday ascent and climbs back closer to the weekly high, around the $67.00 neighborhood during the early European session on Wednesday. The white metal, however, remains confined within a familiar range held over the past week or so, warranting some caution for bulls ahead of the crucial US inflation figures. From […]
by Currency Hedger
- 0 Comments
- 1 week ago