Gold fell on Tuesday after dropping on Friday due to a rally in the US dollar and Treasury yields. The rally came after the PCE inflation report, which lowered the likelihood of a 50-bps September Fed rate cut. Meanwhile, markets were closed on Monday due to a US holiday. Investors are slowly shifting their focus Read More…
Currency futures fell on Friday after US data solidified bets for a smaller 25 bps September Fed rate cut, boosting the US dollar. Data throughout last week showed that the US economy remains resilient, dismissing fears of a recession. Fed rate cut bets (Source: Bloomberg) The dollar had a bullish day on Friday after the Read More…
Interest futures recovered slightly after falling on Thursday as US data showed a resilient economy, further reducing the risk of a recession. At the same time, the likelihood of a 50 basis points Fed rate cut in September fell. A stable economy means the US central bank can gradually lower borrowing costs. US GDP (Source: Read More…
The chart provided displays the U.S. Dollar Index (DXY) on a weekly timeframe. Let’s analyze the technical indicators and identify potential bearish/short high-probability trade opportunities. Technical Analysis Descending Triangle Pattern: There is a symmetrical triangle formation. The price recently broke below the lower trendline of this triangle, signaling a potential continuation of the downtrend since Read More…
Introduction The Aussy Dollar has been gaining grind like most other currencies as the US Dollar has been weakening. Key Technical Observations: Resistance Level: The price faces strong resistance around the 0.6812 level. This level has been tested multiple times and is holding, suggesting that the bulls are struggling to break through this barrier. Pivot Read More…
Oil prices recovered slightly on Tuesday after falling 1% in the previous session due to a disappointing inventories report. However, the potential loss of Libyan oil output and Middle East tensions kept a floor on price declines. Data on Wednesday revealed a smaller-than-expected drop in US crude stocks last week. Inventories fell by 846,000 barrels, Read More…
