Content
USD/CAD Price Analysis: Evident Policy Outlook Divergence
Article By:
Yohay Elam
Read
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
Read
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
Read
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
Read
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
Read
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
Read
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
Read
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
Read
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
Read
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
Read
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
Read
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.
GBP/USD Holds Below 1.2500 Ahead Of Fed Rate Decision
Article By:
Lallalit Srijandorn
Read
Tuesday, April 30, 2024 10:20 PM EDT
The GBP/USD pair holds below 1.2490 during the early Asian session on Wednesday. The downtick of the major pair is supported by the stronger US Dollar amid the cautious mood ahead of the Fed interest rate decision later on Wednesday.