The pound is lower owing to the softer UK CPI report earlier here. That rebuffed BOE rate cut expectations for next month, which were already high to begin with. Traders saw ~80% odds of a 25 bps rate cut for November and bolstered that to ~91% now. GBP/USD fell from...
This catalyst could trigger a huge selloff in gold
The bullish momentum in gold remains unabated given the lack of bearish catalysts. We did get a pullback in the end of September/start of October as the repricing in the aggressive rate cuts expectations raised real yields and weighed on the market. There's lots of...
EURUSD Technical Analysis – Time for a pullback?
Fundamental OverviewThe bullish momentum in the US Dollar seems to be waning despite the recent higher-than-expected US CPI and PPI reports. One caveat is that the market has now priced out the aggressive rate cuts expectations and it’s almost perfectly in line with...
BOJ governor Ueda to visit China later this week
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
Italy September final CPI +0.7% vs +0.7% y/y prelim
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
AUD/USD tests waters below key support as downside momentum continues
AUD/USD daily chartThe surging optimism from China before the Golden Week holiday gave the aussie a noticeable boost. But that has largely faded as the dollar rebounded and also as investors are coming off cloud nine on the China optimism. Chinese equities have been...
The gold train looks to march on
Gold (XAU/USD) daily chartOnce again, the bullish momentum for gold continues to impress. After a brief retreat back near $2,600, gold is catching a solid bounce since the end of last week to now hit $2,674 levels. That is seeing price action close in on the record...
Gold Technical Analysis – Lack of bearish catalysts keeps the bid going
Fundamental OverviewThere hasn’t been any catalyst this week for the rally in gold although we had a key technical breakout which might have increased the bullish momentum. The lack of bearish catalysts though is helping to keep the bid going as the market has...
Gold and Silver: A Correlated Duo
While gold and silver often move in tandem, their relationship can sometimes be complicated. Despite sharing similar characteristics and applications, differences in underlying demand and supply dynamics can lead to occasional divergences. Octa broker discovers the...
UK stocks bounce back at the open in Europe today
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
Traders rebuff BOE rate cut expectations for November after UK CPI report
That is a step up from ~80% before the inflation data. Looking at the bigger picture, traders are now pricing in ~117 bps of rate cuts up until June 2025. And that is also a modest step up from ~105 bps before the numbers. As a reminder, there are six policy meetings...
GBP/USD runs a test of 1.3000 again on softer UK inflation data
GBP/USD daily chartWith the dollar having rebounded in early October, it is now the pound side of the equation coming into focus for GBP/USD. The pair had retreated back down below 1.3100 since last week but hasn't really found extra incentive to drive towards a test...
UK September CPI +1.7% vs +1.9% y/y expected
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
BOJ’s Adachi says no specific timeline on when to raise rates again
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
Japan’s largest union group Rengo reportedly eyes wage hike of 5% or more in 2025
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
China reaffirms it will not renounce the use of force over Taiwan
Chen Binhua, the spokesperson for China's Taiwan Affairs Office said that:"We are willing to strive for the prospect of peaceful reunification with the utmost sincerity and endeavour. But we will never commit ourselves to renouncing the use of force."He does go on to...
ForexLive Asia-Pacific FX news wrap: NZD (CPI) & AUD drop, bounced back
We had Q3 CPI data from New Zealand today, showing that its inflation rate dropped back into the Reserve Bank of New Zealand’s target band for the first time since early 2021. The CPI is also encouraging for the central bank as it came in slightly below their most...
Bitcoin Price Predictions Surging for 2024 Election Year
Standard Chartered has released a report predicting a potential rise in bitcoin's value, could approach its previous high of $73,800 in the lead-up to the U.S. presidential election.A few crypto outlets cite the report.First: Several key factors are driving this...
AI adoption in trading applications is accelerating
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
ECB Board member Claudia Buch speaking Wednesday
The European Central Bank meeting is on Thursday, October 17, 2024, so i don't expect anything on the economy or policy from this. 1020 GMT/0620 US Eastern time - Speech by ECB Board member Claudia Buch during a lecture at Bocconi UniversityBuch is Chair of the ECB...