EUR/USD holds above 1.0650 after US data

EUR/USD holds above 1.0650 after US data

EUR/USD trades in the upper half of its daily range slightly above 1.0650 in the American session on Friday. Following the mixed PMI data releases from the US, the US Dollar struggles to find demand helps the pair holds its ground ahead of the weekend.

EUR/USD News

GBP/USD recovers modestly, trades above 1.2250

GBP/USD recovers modestly, trades above 1.2250

GBP/USD gained traction and advanced above 1.2250 in the second half of the day on Friday, erasing a large portion of its daily losses in the process. The improving risk mood, as reflected by rising US stocks, limits the US Dollar's gains and provides support to the pair.

GBP/USD News

Gold consolidates above $1,920 ass US yields edge lower

Gold consolidates above $1,920 ass US yields edge lower

Gold price clings to small recovery gains above $1,920 following Thursday's sharp decline. Following the mixed September PMI data from the US, the benchmark 10-year US Treasury bond yield is down nearly 1% on the day at around 4.45%, allowing XAU/USD to stay in positive territory.

Gold News

FTX fights to clawback $157 million from former employees while creditors struggle with $7.9 billion in claims

FTX fights to clawback $157 million from former employees while creditors struggle with $7.9 billion in claims

FTX exchange initiated legal proceedings against former employees of Salameda, a Hong Kong incorporated entity that is affiliated with the platform.

Read more

Cainiao subsidiary to register for IPO as soon as next week

Cainiao subsidiary to register for IPO as soon as next week

BABA stock surged more than 4% in Friday’s premarket after the Chinese ecommerce leader announced that its shipping and logistics business, Cainiao, will file for an initial public offering (IPO) in Hong Kong as soon as next week.

Read more

LATEST NEWS

More Latest News

BEST BROKERS IN YOUR LOCATION

BROKER PROMOTIONS







DEEPER DIVE

Key risks to the global outlook

Key risks to the global outlook

The most aggressive rate hike cycle in decades will no doubt take its toll. We’re more concerned about the US, where a tightening in lending standards post-banking crisis is likely to trigger more noticeable weakness in hiring and investment. Europe is currently enjoying the benefit of lower energy prices...

Will cooling inflation mark the end of interest rate hikes?

Will cooling inflation mark the end of interest rate hikes?

Traders are now on the verge of being gifted with even more lucrative money-making opportunities with Saudi Arabia determined to keep oil prices high enough to fund economic plans – all topped off with the most hotly anticipated event of all – the end of Fed's most aggressive interest rate hiking campaign in four decades.

Eurozone and the US: Where does inflation come from?

Eurozone and the US: Where does inflation come from?

According to the latest data, inflation in both the euro area and the US is mainly driven by its core component and thus, at first glance, by demand. Supply factors are also at work through the spillover effects of the shock on energy and commodity prices and food inflation.

FXS Signals

Technical Confluences Detector

Gold extends slump in the Fed’s aftermath

Gold extends slump in the Fed’s aftermath

Gold Price is under strong selling pressure as demand for the US Dollar surged following the hawkish pause from the United States (Federal Reserve). Despite leaving rates unchanged as widely anticipated, the central bank hinted at one more hike in the docket for this year, and decreased chances of rate cuts for 2024. The first cut is now seen in September next year, and total cuts will account for probably 50 bps instead of the 100 bps anticipated in the June dot plot.

Key levels to watch

XAU/USD is in a free area, with little to care of, one way or the other. A strong resistance area comes at around $1,931, where the bright metal has the 50 DMA and the 10 SMA in the 4-hour chart. Should the decline continue, the main support and a potential bearish target comes at $1,904, the 23.6% Fibonacci retracement of the ongoing month and the lower end of the daily Bollinger Band.

Read full report

CRYPTOCURRENCIES

Arbitrum’s ARB price rallies after Chainlink CCIP mainnet launch

Arbitrum’s ARB price rallies after Chainlink CCIP mainnet launch

The protocol’s arrival on Arbitrum is key to the further development and growth in the ARB ecosystem as it is expected to improve the user experience and attract developers.

More Arbitrum News

BTC downside likely after 20-week EMA culls bulls

BTC downside likely after 20-week EMA culls bulls

Bitcoin (BTC) bearish price fractal, as discussed in a previous article, is underway, but the lack of volatility is causing ambiguity and doubt. Regardless, BTC might see a bit of an upside before the long-term bearish scenario plays out.

More Bitcoin News

FTX fights to clawback $157 million from former employees while creditors struggle with $7.9 billion in claims

FTX fights to clawback $157 million from former employees while creditors struggle with $7.9 billion in claims

FTX exchange has sued former employees of Salameda, a Hong Kong based entity affiliated with the trading platform. The court filing shows that the bankrupt exchange seeks to recover $157.3 million from Salameda employees. 

More Cryptocurrencies News

First Ethereum futures ETF expecting approval by October 2

First Ethereum futures ETF expecting approval by October 2

The first Ethereum futures ETF (exchange-traded fund) is likely to be approved on October 2, according to crypto hedge funder Hal Press. The North Rock Digital founder’s thesis is based on the recent events in the crypto ecosystem.

More Ethereum News

THE STOCK OF THE DAY

Cainiao subsidiary to register for IPO as soon as next week

Cainiao subsidiary to register for IPO as soon as next week

Alibaba (BABA) stock surged more than 4% in Friday’s premarket after the Chinese ecommerce leader announced that its shipping and logistics business, Cainiao, will file for an initial public offering (IPO) in Hong Kong as soon as next week.

ECONOMIC CALENDAR

REAL-TIME RATES

Customize your rates

WEEKLY FORECAST

EUR/USD: Defying gravity near 1.0650 ahead of Fed’s decision Premium

EUR/USD: Defying gravity near 1.0650 ahead of Fed’s decision

The EUR/USD pair ends an intense week trading near a weekly bottom of 1.0632, its lowest since last March. The Euro advanced throughout the first half week amid a better mood spurred by Asian news.

Read full analysis

GBP/USD: Pound Sterling set for further weakness as Fed, BoE decisions loom Premium

GBP/USD: Pound Sterling set for further weakness as Fed, BoE decisions loom

The Pound Sterling extended its losing streak against the United States Dollar (USD) into a second week, as the GBP/USD pair surrendered the 1.2400 level. GBP/USD is not out of the woods yet, and all eyes turn toward the US Federal Reserve (Fed) and the Bank of England (BoE) monetary policy decisions.

Read full analysis

Gold: Strong Dollar keeps $1,900 in focus Premium

Gold: Strong Dollar keeps $1,900 in focus

Gold tested the $1,900 area this week, influenced by the latest US economic reports, but it managed to hold above and rebounded, erasing weekly losses and reaching the $1,930 zone. The overall bias remains tilted to the downside, with the strong US Dollar weighing on the yellow metal.

Read full analysis

Bitcoin: BTC contemplates crash in September

Bitcoin: BTC contemplates crash in September

Bitcoin price remains unfazed by the US CPI announcement on September 13 and continues to move in a range. The weekly chart, however, shows a potential short-term recovery rally that could set the stage for a steep correction.

Read full analysis

Currency market: FX next week

Currency market: FX next week

Powell failed to offer reprieve to DXY and to the vital DXY Vs EUR/USD relationship. EUR/USD traded 120 pips this week to 102 for DXY. Neither DXY nor EUR/USD broke significant levels as both are trading inside small and meaningless ranges. Powell offered barely a 40 pip response to yesterday's Fed meeting.

Read full analysis

Week Ahead – US core PCE and Eurozone flash CPIs eyed after rate pause signals

Week Ahead – US core PCE and Eurozone flash CPIs eyed after rate pause signals

The latest spike in oil prices is causing some headaches for policymakers as energy costs are on the rise again just as they’ve started to see the result of their hard-fought battle to get inflation down.

Read full analysis


LIVE VIDEO

NEXT LIVE SHOWS

Date Event Title Sponsor More Info
Premium How to Simplify Your Trading & Find More Successful Trades Walter Peters Event Details
Premium US Pre-Market Open Ed Ponsi, CTA Event Details
Premium US Session Open Ed Ponsi, CTA Event Details
Premium US Pre-Market Open Ed Ponsi, CTA Event Details
Be Premium Now