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Market Movers

CAD

USD/CAD gains are restrained by increasing Oil prices in the mid-1.3300s.

Although it doesn’t follow through, USD/CAD rebounds off the weekly low it reached earlier on Friday. The demand for the USD is rekindled, and the major gains some support from an increase in US bond rates. The Loonie is supported by a modest increase in oil prices, which also restrains any significant rebound. The USD/CAD …

USD/CAD gains are restrained by increasing Oil prices in the mid-1.3300s. Read More »

NZD

NZD/USD bulls eye 0.6300 as Fed expects no more rate rises

NZD/USD has cleared the significant threshold of 0.6250 during a risk-on solid trend. Federal Reserve officials favor the interest rate rise slowing regime to lower financial risks. The New Zealand Reserve Bank expects the interest rate to peak at 5.5 percent. RBNZ-Fed policy divergence has increased, and NZD/USD seeks to break through the round-level resistance …

NZD/USD bulls eye 0.6300 as Fed expects no more rate rises Read More »

gbp

GBP/USD hovers barely below mid-1.1900s ahead of US data/FOMC minutes.

GBP/USD rises for the second day and reaches a new weekly high. Bets on the Fed raising rates less aggressively weigh on the USD and strengthen the pair. The GBP is supported by better-than-expected UK PMI, which also supports the upward trend.Ahead of the crucial FOMC minutes, investors are now looking to US macro data …

GBP/USD hovers barely below mid-1.1900s ahead of US data/FOMC minutes. Read More »

cad

USD/CAD Price Analysis: Bulls not giving up at 1.3400

Renewing selling pressure is applied to USD/CAD, which is also impacted by other variables. A rise in oil prices supports the Canadian dollar and puts pressure on it amid general USD weakness. Before making strong directional wagers, use care due to the conflicting technical signs. On Tuesday, the USD/CAD pair encounters new supply and continues …

USD/CAD Price Analysis: Bulls not giving up at 1.3400 Read More »

eur

EURGBP Price Analysis: Bears eye range support around 0.8700

Renewing selling pressure causes EURGBP to see a decline to almost two-week lows. On short-term charts, the rectangle pattern that forms suggests that traders are still determining their next move. Before making substantial directional wagers, neutral technical indications also call for prudence. During the first part of the European session on Friday, the EURGBP cross …

EURGBP Price Analysis: Bears eye range support around 0.8700 Read More »

idr

USD/IDR Price Analysis: Nears $15,700 before Bank Indonesia Rate Decision

USDIDR has a four-day rise and recently oscillated around an intraday high. The benchmark rate will likely rise by 50 basis points by Bank Indonesia. A breach to the upside of a two-week-old resistance line might reaffirm a multi-month high. The short-term downside is constrained by the 21-DMA and an ascending trend line from late …

USD/IDR Price Analysis: Nears $15,700 before Bank Indonesia Rate Decision Read More »

GOLD

Gold Price hovers above $1,780, its highest since mid-August.

Despite a weaker US Dollar, Gold maintains stability at its highest level since mid-August. The dollar is affected by bets on the Federal Reserve raising rates less aggressively. The USD is further devalued by falling US bond rates, which is advantageous for commodities. Any additional advances for the XAUUSD seem to be limited by a …

Gold Price hovers above $1,780, its highest since mid-August. Read More »

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