News

ECB Up Next The ECB takes centre stage today as the bank meets for its March rate setting meeting. No change in monetary policy is expected today, however, traders will be carefully scrutinising the details of today’s meeting for clues as to when a first-rate cut can be expected. Currently, the market is pegging a […]

Gold Breaking Out Gold prices have traded up to fresh record highs this week as the US Dollar continues to trail off ahead of tomorrow’s keenly awaited NFP data. Yesterday, comments from Fed chair Powell did little to inspire USD buying with Powell simply reaffirming the message that rate cuts are still very much on […]

The Australian dollar rose against the US dollar on Thursday. The current AUDUSD quote stands at 0.6583. Thus, the Aussie is back to a two-week high. This occurred as positions in the US dollar weakened significantly amid a decline in US Treasury bond yields. Capital markets anticipate the Federal Reserve easing monetary policy later this […]

USDCHF, “US Dollar vs Swiss Franc” USDCHF quotes are in the overbought area. The RSI is testing the support line. In this situation, a breakout of the 8/8 (0.8789) level is expected, followed by a decline to the support at 6/8 (0.8667). The scenario could be cancelled by rising above the resistance at +1/8 (0.8850). […]

The US Dollar finds itself ensnared in a tumultuous market landscape, grappling with conflicting data and wavering projections on Federal Reserve policy. As traders brace for the semi-annual testimony from US Federal Reserve Chairman Jerome Powell at Capitol Hill, the greenback suffers a four-day losing streak, besieged by a confluence of events poised to shape […]

Daily Market Outlook, March 6, 2024 Munnelly’s Macro Minute… “UK Budget & Powell Testimony Main Macro Drivers Today” Asian equity markets exhibited a mixed performance ahead of Fed Chair Powell’s congressional testimony. On Wednesday, a news conference featuring prominent Chinese officials aims to unveil the government’s strategies to stimulate consumption. Pan Gongsheng, the central bank […]