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USD/CAD Extends Its Downside Below 1.3750 On A Softer US Dollar
Article By:
Lallalit Srijandorn
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Wednesday, May 1, 2024 10:50 PM EDT
The USD/CAD pair extends its downside around 1.3730 during the early Asian trading hours. The downtick of the pair is backed by the weaker US Dollar Index (DXY) to 105.75.
USD/CAD Price Analysis: Evident Policy Outlook Divergence
Article By:
Yohay Elam
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Wednesday, May 1, 2024 8:31 AM EDT
Data from Canada revealed a smaller-than-expected 0.2% expansion in the economy. Investors are currently placing a 60% chance the BoC will cut rates in June. While investors expect 54bps of cuts in Canada, they only expect 32bps in the US.
USD/CAD Analysis: Anxious Speculative Wagers As Higher Realms Touched
Article By:
Robert Petrucci
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Wednesday, May 1, 2024 8:13 AM EDT
Another dose of nervousness has hit USD/CAD traders as the currency pair tests short-term highs and is within grasp of apex values seen in the middle of April.
Forex Today: Stocks Bearish As Markets Await Fed Meeting
Article By:
Adam Lemon
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Wednesday, May 1, 2024 7:31 AM EDT
The US Federal Reserve will be holding a policy meeting today. There is a near-universal expectation rates will be held, and the Fed will state that it cannot cut rates until there is progress bringing down stubbornly persistent inflation.
May Day Fed Day
Article By:
Marc Chandler
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Wednesday, May 1, 2024 7:19 AM EDT
Much of Asia and Europe are off for the May Day labor holiday. The dollar is mostly softer in the thin activity. However, the dollar has edged higher against the yen to approached JPY158.
Visualizing Global Gold Production In 2023
Article By:
Jeff Desjardins
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Wednesday, May 1, 2024 6:17 AM EDT
Over 3,000 tons of gold were produced globally in 2023. China was the top producer in 2023, responsible for over 12% of total global production, followed by Australia and Russia.
In this article: GLD
Gold’s Persistent Bullish Phases Mark A Century Of Growth
Article By:
Muhammad Umair, PhD
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Wednesday, May 1, 2024 6:02 AM EDT
Gold has long been revered for its aesthetic allure and as a hedge against economic uncertainties. Recently, the gold market started to correct lower. This is due to seasonal adjustments and an overbought condition noted in weekly and daily charts.
In this article: GLD
USD/CAD Price Analysis: Holds Position Above 1.3750 Amid Resurging Bullish Sentiment
Article By:
Akhtar Faruqui
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Wednesday, May 1, 2024 4:51 AM EDT
USD/CAD may continue to advance as technical analysis suggests a resurgence of bullish sentiment. A break above the 1.3800 level might propel the pair to revisit its five-month high of 1.3846.
GBP/USD Forex Signal: Rally Takes A Breather Ahead Of FOMC Decision
Article By:
Crispus Nyaga
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Wednesday, May 1, 2024 4:41 AM EDT
The GBP/USD pair dipped sharply amid a broader US dollar rebound.
FX Daily: DXY Closing In On Year’s High Ahead Of Fed
Article By:
ING Economics
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Wednesday, May 1, 2024 3:48 AM EDT
The relentless stream of above-expected US inflation data continues. Yesterday it was the turn of the Employment Cost Index to surprise on the upside. Higher US rates have sent one measure of the trade-weighted dollar - the DXY - to the year’s high.
AUDJPY Forex Elliott Wave Technical Analysis
Article By:
Peter Mathers
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Wednesday, May 1, 2024 3:21 AM EDT
In the current AUD/JPY Forex Elliott Wave Technical Analysis, the position is described as "blue wave 1," indicating that the market is in the first wave of a new impulse sequence, suggesting that a larger trend might be forming or reversing.
WTI Remains Under Selling Pressure Below $81.00 Amid Unexpected Oil Stockpile Build
Article By:
Lallalit Srijandorn
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Wednesday, May 1, 2024 1:40 AM EDT
Western Texas Intermediate (WTI), the US crude oil benchmark, is trading around $80.80 on Wednesday. The black gold edges lower on rising crude inventories in the United States and easing geopolitical tensions in the Middle East.
