The Pound Sterling (GBP) jumps to near 1.2970 against the US Dollar (USD) at the start of the week. The GBP/USD pair rises as the US Dollar Index, which tracks the Greenback's value against six major currencies, declined to near 103.50. The USD Index weakens while investors await the monetary policy decision from the Federal Reserve (Fed) and the Bank of England (BoE), which will be announced on Wednesday and Thursday, respectively. Both the Fed and the BoE are expected to keep interest rates steady. According to the CME FedWatch tool, the Fed is almost certain to keep borrowing rates...
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, is getting ready for one the most important phone calls in nearly a decade history while the biggest central bank is considering its next steps in monetary policy this week. At the time of writing on Monday, the DXY index edges lower and trades near 103.40 after the United States (US) Retail Sales data release for February. On the geopolitical front, a high-stakes meeting between US President Donald Trump and Russian President Vladimir Putin is scheduled on Tuesday, with the two...
Gold's price (XAU/USD) trades sub $3,000, near $2,990 at the time of writing on Monday following Friday's take-profit-led correction after hitting a fresh all-time high of $3,005. Traders are bracing for a rather eventful week with the German Bundestag set to vote on the defense spending plan, which would boost the European industry by €1 trillion, on Tuesday. On that same day, United States (US) President Donald Trump is scheduled to meet Russian President Vladimir Putin on a possible peace deal for Ukraine. As if that is not enough, the US Federal Reserve (Fed) and its Federal Open Market...
Gold price rises on Monday late in the North American session, hoover near the $3,000 mark for the second straight day, after data from the United States (US) shows the economy is cooling. The XAU/USD trades at $2,999, up over 0.40%. Risk appetite improved as reflected by US equities with traders shrugging off a weak US Retail Sales report for February. In addition, the New York Fed Empire State Manufacturing Index plunged, sparking fears that the economy might be tipped into a recession. Therefore, money market futures are pricing in 64 basis points (bps) of easing by the Federal Reserve...
The AUD/USD pair surged higher on Monday, benefiting from improved risk sentiment following China's monetary stimulus measures. The Australian Dollar strengthened broadly as investors reacted positively to the prospect of increased liquidity in the Chinese economy. Meanwhile, traders are turning their attention to upcoming events, including the Federal Reserve's (Fed) policy decision and Australia's employment data for February, which could provide further direction for AUD/USD.Australian Dollar strengthens as risk sentiment improvesThe Australian Dollar extended Friday's rally, with AUD/USD...