Commodity Currencies Test New Lows Ahead of FOMC Minutes

Crypto

A strong US labour market report, released last week, has contributed to the decline in European and commodity currencies. The USD/CAD pair managed to strengthen above 1.3600, the AUD/USD pair tested 0.6720 as support, and the NZD/USD pair dropped below the 0.6100 mark. The increase in average wages (0.4% vs. expected 0.3%) and the rise […]

Market Analysis: AUD/USD and NZD/USD Take Hit, Turn Red

Crypto

AUD/USD declined below the 0.6855 and 0.6830 support levels. NZD/USD is also moving lower and might struggle to recover above 0.6225. Important Takeaways for AUD/USD and NZD/USD Analysis Today · The Aussie Dollar started a fresh decline from well above the 0.6900 level against the US Dollar. · There is a connecting bearish trend line […]

Analysis of XAU/USD: Gold Price Drops to a Two-Week Low

Crypto

The XAU/USD chart shows that yesterday, the price of gold fell below $2610, a level not seen since 20th September. Bearish sentiment has been driven by the continued strengthening of the US dollar. According to Trading Economics: → This is due to market participants lowering expectations for an aggressive rate cut by the Federal Reserve.→ […

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