The AUD/USD pair is trading near the lower end of its daily range, reflecting a mixed technical outlook. The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, has dipped toward the 100.60 area, pressured by soft US inflation data and speculation about a possible dovish shift from the Federal Reserve (Fed). US officials recently downplayed speculation about a deliberate dollar-weakening strategy, but concerns persist as trade discussions with South Korea suggest room for stronger local currencies. This uncertainty has contributed to...
The EUR/USD pair traded near the 1.1200 zone on Wednesday after the European session, reflecting a cautiously bullish tone as the market approaches the Asian session. Price action remains within the middle of its daily range, indicating balanced sentiment despite a mixed technical backdrop. While shorter-term momentum indicators signal caution, the broader trend remains supported by longer-term averages, providing a foundation for further upside if recent gains hold. From a technical standpoint, the pair presents a complex picture. The Relative Strength Index hovers around 40, reflecting...
Oil prices edged lower on Wednesday after government data showed U.S. crude oil stockpiles rose unexpectedly last week, prompting investor concerns of excess supplies. Brent crude futures fell 40 cents, or around 0.6%, to $66.23 a barrel by 12:04 p.m. EDT (1604 GMT). U.S. West Texas Intermediate crude slipped 33 cents, or 0.52%, to $63.34. Both benchmarks, which traded close to their highest in two-weeks in the previous session, fell after data from the Energy Information Administration showed crude stockpiles rose by 3.5 million barrels to 441.8 million barrels last week. Analysts in a...
Gold fell below $3200/oz as a pause in Chinese ETF flows and geopolitical optimism triggered a pullback but underlying support from central banks and institutional inertia keeps downside risk asymmetric, TDS' Senior Commodity Strategist Daniel Ghali notes. Positive Russia-Ukraine headlines expose Gold to sharp pullback"Gold prices are breaking through the $3200/oz range. because Chinese ETF flows ground to a halt overnight after gaining steam over the last sessions, leaving the door for positive Russia-Ukraine headlines to catalyze a break." the US-China ceasefire on trade was the...