The EUR/USD pair bounced sharply after hitting fresh weekly lows as investors assess the U.S. consumer price index data. The pair retreated to a low of 0.9631 at the beginning of the American session after the U.S. CPI came in stronger than expected, although the EUR/USD took a U-turn afterwards to trade positively on the day. At the time of writing, the...
The EUR/USD pair continues to gravitate around the 0.9700 level, unfazed by U.S. Producer Price Index data or the latest FOMC minutes as investors await the consumer inflation figures due on Thursday. At the time of writing, the EUR/USD pair is trading at the 0.9700 area seesawing between small gains and losses, having retreated from a daily high of 0.9735 and...
Gold prices tread water on Tuesday following four consecutive daily losses as the dollar’s rally lost its steam amid retreating U.S. Treasury yields. Spot gold, XAU/USD, is currently trading at the $1,670 area, virtually unchanged on the day, having hit and bounced off from a weekly low of $1,661 earlier on the day. Gold’s upside potential remains limited as...
The EUR/USD pair fell to a one-week low on Friday following the release of better-than-expected U.S. nonfarm payrolls data. The pair bottomed at 0.9726 and closed the session at 0.9740, recording a 0.52% daily decline and shedding 0.62% in the week. The U.S. Bureau of Labor Statistics reported the U.S. economy added 263,000 jobs in September, beating the...
The EUR/USD pair retreated on Thursday as the U.S. dollar gained momentum on the back of risk aversion and higher U.S. bond yields. The European Central Bank's Monetary Policy Meeting Accounts revealed some "dovish" insights, which also weighed on the euro. At the time of writing, the EUR/USD pair is trading at the 0.9800 area, 0.8% below its opening price,...
The U.S. dollar, measured by the DXY index, recovered ground on Wednesday following the release of a better-than-expected ADP report. At the time of writing, the DXY index trades at the 111.50 area, recording a 1.2% gain on the day and staging a bounce from a two-week low struck on Tuesday. Automatic Data Processing, Inc released the September report, which...
The EUR/USD continued to gain ground on Tuesday as the broad-based selling pressure surrounding the greenback amid the risk-positive market mood persisted. At the time of writing, the EUR/USD trades at the 0.9985 area, 1.64% above its opening price, having reached a two-week high of 0.9999 earlier in the session. The market sentiment improved amid speculation...
The GBP/USD started October on a positive note, extending its bounce from a record low and posting its fifth gain in a row after the U.K. confirmed a fiscal policy U-turn. In the meantime, the greenback continues to correct lower after an outstanding rally over the last weeks. At the time of writing, the GBP/USD is trading at the 1.1310 area, 1.4% above its...
The U.S. dollar pushed higher on Friday after two consecutive days of losses following the release of hotter-than-expected August PCE inflation figures, which back further hawkishness from the Federal Reserve. At the time of writing, the DXY index trades at de 112.15 area, 0.38% above its opening price but is on track to post the first weekly decline in...
The EUR/USD pair is rising for the second day in a row on Thursday as the greenback continues to correct lower after the steep, almost uninterrupted, rally staged over the previous weeks. The U.S. released mixed economic data, while German inflation hit double digits for the first time in the euro era. At the time of writing, the EUR/USD pair is trading at the...
Gold prices advanced for a second straight day on Wednesday as the U.S. dollar weakened across the board, weighed by the decline of Treasury yields and an overdue technical correction. At the time of writing, spot gold, XAU/USD, is trading at the $1,660 area, 1.87% above its opening price, having erased daily losses that saw the yellow metal bottoming out at a...
The EUR/USD pair fell for a sixth consecutive day on Tuesday as deepening energy concerns in the Eurozone, monetary policy divergence and risk-off sentiment among traders continue to favor the U.S. dollar versus major rivals. At the time of writing, the EUR/USD pair is trading at the 0.9590 zone, 0.2% below its opening price. The euro managed to advance to a...
The EUR/USD pair fell to fresh 20-year lows on Monday, weighed by broad-based dollar strength and the sour market mood. Monetary policy divergence continued to fuel U.S. yields advance and benefited the greenback. At the time of writing, the EUR/USD pair is trading at the 0.9610 area, 0.82% below its opening price, after bottoming at a multi-decade low of 0.9552...
The GBP/USD pair tumbled on Friday, losing more than 3% on the day, making this its worst weekly decline since 2020. The pound weakened across the board and fell to its lowest level since 1985 against the greenback at 1.0839, weighed by a widening Fed-BoE rate differential following both banks' meetings this week. Additionally, the U.K. announced on Friday the...
The GBP/USD pair fell to its lowest level since 1985 on Thursday following the Bank of England's decision to raise interest rates by 50 basis points, sending the key rate to 2.25%, to curb inflation. Still, bearish pressure on the GBP/USD pair intensified as the Fed–BoE rate gap widened on the back of Wednesday's Federal Reserve's decision to hike the fed funds...
The EUR/USD pair tumbled to its lowest level since 2002 on Wednesday after the Federal Reserve decided to raise interest rates by 75 basis points for the third time in a row, taking the fed funds' range to 3.0%-3.25%, as expected. The EUR/USD bottomed at 0.9812 as the knee-jerk reaction but bounced toward the 0.9900 area during Jerome Powell's press conference....
Gold prices fell sharply on Tuesday as the U.S. dollar is getting traction thanks to rising U.S. bond yields ahead of the Fed's interest rate decision. Bond yields and the greenback managed to stay in positive territory despite mixed housing data from the U.S. economy. At the time of writing, the spot price XAU/USD is trading at the $1665 zone, 0.65% below its...
The EUR/USD pair advanced slightly on Monday but remained trading within a narrow range as investors take the backseat ahead of the Federal Reserve monetary policy decision on Wednesday. At the time of writing, the EUR/USD pair is trading at the 1.0025 zone, recording a 0.14% daily gain, the fourth in a row. The FOMC interest decision, the dot plot Chair...