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A crushed US Dollar sends Gold into a rally above $4,400
Gold (XAU/USD) price rises over 1% on Monday amid overall US Dollar (USD) weakness and lower US Treasury yields, following last week’s soft inflation data that reduced speculation of a hawkish Federal Reserve (Fed), . The XAU/USD trades at $4,422 after bouncing off daily lows of $4,367.
USD/CHF Price Forecast: Bulls need a break above 0.8200 to regain momentum
USD/CHF rebounds on Monday as the US Dollar (USD) recovers from its early losses. At the time of writing, the pair trades around 0.8112 after touching an intraday low of 0.8072, its lowest level in over a week.
Silver Price Forecast: XAG consolidates as haven demand returns
Silver (XAG/USD) price surges nearly 1.80% on Monday as the Greenback dives, while uncertainty over the US-Iran conflict clouds investor sentiment. The precious metals segment seems to have regained its haven status, even though Oil prices edged higher.
Euro returns below 1.1600 as US Dollar selling pressure eases
EUR/USD trims earlier gains on Monday as the US Dollar (USD) shows signs of stabilization after opening the week under selling pressure. At the time of writing, the pair trades around 1.1580 after touching an intraday high of 1.1614, its highest level since June 17.
EUR/GBP trades in a tight range ahead of UK jobs data
EUR/GBP is holding a narrow band around the mid-0.8500s with little conviction in either direction. At the time of writing, the cross is close to flat on the day.
The US Dollar Index cannot rally with Washington on the offer
The Dollar Index trades near 99.50, roughly a tenth of a percent lower, having opened directly on its 200-day Exponential Moving Average (EMA) and failed there inside the first minutes, with a session low just above 99.25 taking out the August range.
The Dow Jones Industrial Average lets refiners price the war
The Dow Jones Industrial Average (DJIA) trades near 53,550 on Monday, down close to 200 points and roughly 1,200 beneath the record printed on August 5, on the day the 60-day negotiating window that was meant to end the war over the Strait of Hormuz lapses with nothing agreed to replace it.
WTI Oil climbs above $82 as Washington-Tehran standoff reignites supply concerns
West Texas Intermediate (WTI) US Oil advances on Monday and trades around $82.10 at the time of writing, up 0.68% on the day. Oil prices remain supported by the deadlock between the United States (US) and Iran, which keeps concerns about Oil flows through the Strait of Hormuz elevated.
British Pound edges higher as traders await UK jobs and CPI data
The Pound Sterling (GBP) registers modest gains of 0.14% on Monday against the US Dollar (USD) as investors digest softer-than-expected US inflation data and brace for the release of crucial UK jobs and inflation data. The GBP/USD pair trades at 1.3552 after hitting a three-month high of 1.3571.
Japanese Yen struggles despite rising bond yields and BoJ hike bets
USD/JPY rebounds on Monday after coming under selling pressure earlier in the day, as the Japanese Yen (JPY) struggles to gain traction despite a weaker US Dollar (USD). At the time of writing, the pair trades around 159.25, recovering from an intraday low of 158.85.
Silver accelerates above $66 as Fed expectations shift
Silver (XAG/USD) extends its advance on Monday and trades around $66.30 at the time of writing, up 2.47% on the day.
Australian Dollar climbs to two-month highs amid a soft US Dollar
AUD/USD extended its recovery on Monday, pushing to fresh 10-week highs and holding near the 0.7100 zone. At the time of writing, the pair is 0.40% up for the day, driven almost entirely by a broadly weak US Dollar (USD) rather than anything positive out of Australia.
British Pound: Bullish bias with data risk ahead against US Dollar – Scotiabank
Scotiabank strategists Shaun Osborne and Eric Theoret note British Pound (GBP) is underperforming core European peers but has still reached a three‑month high against the US Dollar (USD).