XAU/USD: Rises on Growing Uncertainty But Bulls Look for More Evidence to be Validated
Spot gold edged higher on Wednesday after three days in red, boosted by risk aversion on lower stocks, political uncertainty and fears of recession, as raging inflation hurts economies while major central banks raise interest rates to curb rising prices...
Fed promises ‘unconditional’ approach to taking down inflation in report to Congress
U.S. Federal Reserve Board Chairman Jerome Powell takes questions after the Federal Reserve raised its target interest rate by three-quarters of a percentage point to stem a disruptive surge in inflation, during a news conference following a two-day meeting of...
British Pound Yawns as CPI Matches Estimate
UK inflation nudged higher in May, as was expected. The headline release rose to 9.1% YoY, up slightly from the 9.0% gain in April. On a monthly basis, CPI nudged higher to 0.7%, up from 0.6% in April. UK inflation...
USD/JPY: Bulls Pausing Under New Multi-Year High Before Fresh Push Higher
The USDJPY is taking a breather under new 24-year high on Wednesday, as overbought conditions prompt some profit-taking after the pair advanced 3.3% in past three days and traded at levels last seen in 1998. Overall picture shows bulls fully...
NZDUSD Eyes June’s Lows as Bears Regain Control
NZDUSD resumed its slide on Wednesday, bringing the key 0.6335 – 0.6195 bottom area back under the spotlight after a four-day-long unsuccessful battle with the red Tenkan-sen line. The RSI and the MACD remain negatively charged within the bearish zone,...