Daily Trend and Update

Gold price attracts some sellers and reverses a part of Thursday’s recovery from a two-week low. The USD advances to a fresh two-month high and exerts downward pressure on the…

USD/CHF trades on a softer note near 0.8840 in Thursday’s early European session. The SNB is expected to cut its key policy rate for a second straight meeting in June…

Silver price edges higher near $29.40 Wednesday’s Asian session, up 0.40% on the day. The negative stance of Silver remains intact below the 100-period EMA, with a bearish RSI indicator.…

WTI price lost ground as traders adopt risk-averse ahead of EIA crude Oil Stocks Change report due on Thursday. OPEC+ is expected to opt to maintain supply cuts of 2.2…

The Australian Dollar appreciated after the higher-than-expected consumer inflation was released on Wednesday. Australia’s Monthly Consumer Price Index rose 3.6% YoY in April, surpassing the expected readings of 3.4% and…

USD/CAD edges down to 1.3600 as the US Dollar’s appeal is uncertain. US core PCE Price Index is projected to have grown steadily in April. Canada’s weak household spending and…

EUR/USD holds its position ahead of the releases of PMI data from the Eurozone and Germany. Eurozone Manufacturing Services PMIs are expected to tick upwards slightly in May. FOMC Minutes…

EUR/USD halts its two days of losses ahead of FOMC Minutes on Wednesday. Fed’s Susan Collins stated that progress toward interest rate adjustment will take longer. The likelihood of surrounding…

GBP/USD holds its position around the major level of 1.2550 due to improved risk sentiment. Unemployment Rate (3M) is expected to show an increase in unemployed workers. Fed Vice Chair…

NZD/USD has depreciated as the softer Inflation Expectations (Q2) fueled speculation that the RBNZ may lower rates in 2024. The Kiwi Business NZ PSI fell to 47.1 in April, its…