Forex News

Gold is headed for the second consecutive week with losses, down 0.64% despite climbing on Friday. Lower US 10-year TIPS yields and a softer US dollar are a tailwind for Gold prices. Gold Price Forecast (XAUUSD): Gold is neutral-downward biased. Gold spot (XAUUSD) bounces off weekly lows near $1816, recovering some ground in the week,…

The S&p 500, the Nasdaq, and the Dow Jones extend gains between 4 and 5 percent in the week. UoM Consumer Sentiment plunged, and inflation expectations got lower, seen as a relief by traders. Fed’s Bullard commented that fears of a recession are overblown. US equities are rising for the second consecutive day, and despite…

US dollar drops on Friday as stocks soar. Commodity prices also recover, US yields remain low.  AUD/USD is modestly higher for the week, holds above recent lows. The AUD/USD broke above 0.6920 and jumped to 0.6957 on Friday, reaching the highest level in two days. Stocks are rising sharply in Wall Street helping the aussie….

The current environment with economic growth slowing down is favorable to the US dollar according to analysts from Danske Bank. They forecast the EUR/USD pair at 1.04 in a one-month perspective, at 1.03 in three months and at 1.00 in a year.  Key Quotes:  “Fundamentally, the US should continue to be a high(er) interest rate…

Brexit Tensions are increasing and may weigh on the British pound in coming months, warn analysts at Danske Bank. They also point out that relative interest rates have weighed on EUR/GBP for quite some time but not anymore. Key Quotes:  “It is still worth keeping an eye on the EU-UK negotiations on the implementation of…

The EUR/USD is about to end the week hovering around 1.0550, with a modest gain. Analysts at Rabobank continue to see the risk of a dip back to the year’s low at the 1.0350 region on a one to three-month view. They revised lower their 12-month forecast to 1.08 from 1.10. Key Quotes:  “The move…

Loonie gains momentum on higher crude oil and as stocks rally. USD/CAD moves away from the 1.3000 area. Consolidation below 1.2900 to confirm bearish bias. The USD/CAD broke to the downside during the American session as US stocks soar and as crude oil prices jump. The pair dropped to 1.2899, hitting the lowest level in…

The USD/CAD snaps two straight weeks of gains and slumps 0.85% weekly. Higher oil prices and an upbeat sentiment coupled with a weaker USD propel the CAD up. Fed’s Bullard commented that fears of a US recession are overblown; expect the FFR to end at 3.5%. The USD/CAD slides from daily highs around 1.3000, set…