Market news
Crypto, stocks, forex and macro, aggregated for traders.
Gold Price Slides Below $4,030, Eyes Further Downside Below $3,940
Gold (XAU/USD) fell 0.7% to near $4,030 during European trading, pressured by persistent inflation concerns and elevated energy prices amid escalating US military aggression. The metal remains below its 20-day EMA, with analysts eyeing further losses under $3,940.
British Pound Rallies to Multi-Month Highs on Mahmood Appointment Reports
The British Pound has surged to multi-month highs against the US Dollar and Euro following reports of a potential appointment of Mahmood to a key economic role.
Societe Generale: USD/BRL Break Below 50-DMA Signals Move to 5.00
Societe Generale notes that USD/BRL has fallen to 5.07 after threatening 5.20 earlier this month, with a break below the 50-day moving average opening the door to a decline toward 5.00.
EUR/GBP Rises on Hawkish ECB Comments, Mixed UK Data
EUR/GBP edged up 0.24% to 0.8485 as hawkish comments from the European Central Bank outweighed mixed UK economic data.
AUD Consolidates Gains as USD Weakens on Soft US Inflation
The Australian Dollar held near recent highs on Thursday as the US Dollar slipped after unexpectedly soft US inflation data dampened expectations of immediate Federal Reserve tightening.
British Pound Strengthens on Fiscal Reassurance, MUFG Says
The British Pound gained sharply after reports that Shabana Mahmood is set to become the next UK chancellor, reinforcing expectations of sound public finances, according to MUFG analyst Lee Hardman.
US Dollar Remains Under Pressure After Soft US CPI and PPI Data – ING
The US dollar continues to weaken following softer-than-expected US CPI and PPI data, according to ING strategists. FX volatility is declining while Brent crude oil prices remain around current levels.
Silver Falls 1.34% to $57.00 per Troy Ounce
Silver (XAG/USD) fell 1.34% on Thursday to $57.00 per troy ounce, down from $57.77.
EUR/CAD Holds Gains After Eurozone Trade Balance Data
The euro strengthened against the Canadian dollar for a second straight session, trading near 1.6100 during European hours following the release of Eurozone trade balance figures.
Commerzbank: New Zealand Dollar Vulnerable to Softer Data
Commerzbank strategist Volkmar Baur warns that the New Zealand Dollar's recent recovery is fragile, with softer economic data posing downside risks despite market expectations of further rate hikes.
EUR/GBP Edges Higher After Hitting 13-Month Low, Bears Pause
EUR/GBP recovered slightly on Thursday after falling to a 13-month low on Wednesday, when the pound rallied on reports that UK Prime Minister Burnham will appoint a fiscally conservative finance minister.
UOB: AUD/USD Breaks Above 0.7015 Resistance, Momentum Points Higher
UOB analysts note AUD/USD broke key resistance at 0.7015, reaching 0.7021, with further upside expected in the near term.
Pound Strengthens on Reports of New UK PM Appointing Shabana Mahmood as Finance Minister
The British pound strengthened across the board amid reports that incoming UK Prime Minister Burnham plans to appoint Home Secretary Shabana Mahmood as the new finance minister. Meanwhile, persistent US inflation worries continue to weigh on the dollar.
EUR/GBP Falls to 0.84 as Pound Extends Gains, SocGen Says Move Stretched
EUR/GBP has dropped to the 0.84 handle, its lowest since June last year, after breaking a Head and Shoulders neckline at 0.8610. Societe Generale notes the move appears stretched.
Euro Holds Gains Near One-Month Highs at 186.00 Against Yen
The Euro trades nearly flat just below one-month highs at 186.00 against the Japanese Yen on Thursday, consolidating after a 0.8% rally.
UK GDP Beats Expectations but Doubts Linger Over Sustainability
UK monthly GDP growth exceeded expectations, continuing a pattern of strong early-year performance. However, analysts expect activity to slow later in the year, raising doubts about sustained momentum.
Pound Strengthens as USD Declines on Oil Support Loss and Middle East Tensions
The US Dollar is losing support from rising oil prices, with Brent near monthly highs and the USD Index declining. Investors are avoiding the greenback as a safe haven amid Middle East escalation, boosting the British Pound.
BoE’s Breeden: Bank Stays Alert to Inflation Risks
Bank of England Deputy Governor Sarah Breeden said UK inflation would have already hit the 2% target if not for the Middle East conflict, adding that the central bank remains vigilant.
Commerzbank: Canadian Dollar Downtrend Unlikely to Reverse
Commerzbank’s Michael Pfister says recent Canadian labour data and the Bank of Canada’s latest decision indicate domestic policy will not reverse the CAD downtrend, with direction hinging on the US dollar.
Kevin Warsh's First Fed Meeting Surprises Markets, USD Could Rally
Falling U.S. prices are seen as positive, but the dollar may strengthen further after Fed Chair Kevin Warsh's unexpected initial moves.
EUR/USD Tests Range Top at 1.1485 as Momentum Strengthens
The Euro edged higher against the Dollar on Thursday as softer US inflation data fueled a repricing of Fed rate hike expectations, pushing the pair toward the key resistance level of 1.1485.
GBP/USD Resumes Rally Toward Key Resistance at 1.3560 – UOB
United Overseas Bank analysts note GBP/USD has surged to a two-month high, with deeply overbought conditions but scope for further gains. Intraday upside seen limited to a test of 1.3560 while holding above support.
GBP/JPY Consolidates Near Multi-Year High, Bullish Momentum Remains
The GBP/JPY cross enters a bullish consolidation phase after a strong rally, oscillating near the mid-219.00s during early European trading, with the multi-year top still within reach.
NZD/USD Extends Gains to 0.5850 on Weaker USD
The New Zealand Dollar continues its recovery against the US Dollar, trading near 0.5850 for a third consecutive day as the Greenback softens amid reduced expectations of a Federal Reserve rate hike.