Forex Tips Providers | Live Forex Signals | Comex Signals

  The EUR/USD is set to finish the week almost flat, gaining 0.05%. The shared currency daily chart is neutral-to-downwards, but the hourly is neutral-to-upwards. EUR/USD Price Analysis: A daily close above 1.0200 could pave the way towards 1.0300; otherwise, it might drop towards 1.0096. The EUR/USD is trading at 1.0220, after hitting a daily high at 1.0254, but later tumbled towards the daily low at 1.0145 on elevated US inflation data. In June, the Personal Consumption Expenditures (PCE) rose by 6.8% YoY, fueling expectations of additional Federal Reserve rate hikes, despite the market's pricing in only 80 bps of tightening. EUR/USD Price Analysis: Technical outlook From a daily chart perspective, the  EUR/USD remains  neutral-to-downward biased, helped by the 20-day EMA lying below the exchange rate at 1.0167. Nevertheless, the EUR/USD, unable to capitalize on an upbeat market mood, and broad US dollar weakness, keeps the shared currency exposed to further selling pre...

  "The Federal Reserve is going to have to do more with interest rates but details depend on the flow of data in coming months," Atlanta  Fed President Raphael Bostic  said on Friday, as reported by Reuters Additional takeaways "The country is not in recession, but the real question is whether current conditions are creating hardship, inflation needs to be addressed." There is still more work to be done on bringing demand and supply into balance." "Rate hikes could hurt job growth, but so far seems there is momentum for continued hiring." "Possible to control inflation while limiting the number of families who have really bad outcomes." "The US is a ways from a recession, though concerned that recession fears could become self-fulfilling." Market reaction These comments don't seem to be having a significant impact on the greenback's performance against its rivals. As of writing, the US Dollar Index was down 0.25% on the day...

   UOB Group’s Senior Economist Julia Goh and Economist Loke Siew Ting assess the latest inflation figures in the Malaysian economy. Key Takeaways “Headline inflation breached the 3% level for the first time this year at 3.4% y/y in Jun (from 2.8% in May). It came in higher than ours and Bloomberg consensus of 3.2%. Price pressures broadened with more consumer price index (CPI) components recording larger price increases last month compared to the preceding month, led by food and transport components.” “We expect CPI growth to jump above 4.0% in 2H22 after averaging 2.5% in 1H22. Our 2H22 inflation  outlook  largely rests on high commodity prices, year-ago low base effects, persistent currency weakness, changes in some staple food prices (i.e. chicken, eggs and cooking oil), and recovering domestic demand. The new targeted fuel subsidy mechanism, which is currently under pilot testing, will pose upside risks to our inflation outlook should it be implemented over the ...

  GBP/USD jumped to a fresh multi-week high amid the emergence of fresh USD selling. A positive intraday turnaround in the risk sentiment weighed on the safe-haven buck. Brexit woes might cap gains for the British pound ahead of the crucial FOMC decision. The GBP/USD pair attracted some dip-buying near the 1.1960 area on Monday and shot to a nearly three-week peak during the mid-European session. The pair was last seen trading around the 1.2065-1.2070 region, up over 0.50% for the day. Friday's better-than-expected flash UK PMI prints reaffirmed market bets for a 50 bps rate hike by the Bank of England in August and continued acting as a tailwind for the British pound. On the other hand, a positive turnaround in the global risk sentiment - as depicted by a strong intraday rally in the equity markets - weighed on the safe-haven US dollar. In fact, the USD Index languished near its lowest level since July 5 touched on Friday, which, in turn, was seen as another factor...

  The index posts decent gains beyond the 107.00 mark. US yields extend the decline across the curve on Friday. Flash Manufacturing/Services PMIs next on tap in the docket. The greenback, in terms of the  US Dollar Index (DXY) , leaves behind Thursday’s pullback and regains the area beyond 107.00 the figure at the end of the week. US Dollar Index now looks to data, FOMC The index extends the erratic performance so far this week and advances north of the 107.00 yardstick, as market participants seen to have already digested the start of the hiking cycle by the ECB on Thursday. Contrasting with the upbeat tone in the buck, yields in the US cash markets continue their march south and already navigate in multi-session lows across the curve ahead of the key FOMC event due on July 27. In the NA session, the advanced Manufacturing and Services PMIs for the month of July will be the only releases of note later in the NA session. What to look for around USD The index looks si...

  Gold price witnesses selling for the second straight day and drops to a nearly one-year low. The prospects for a further rise in interest rates continues to drive flows away from the metal. A positive risk tone exerts additional pressure; modest USD weakness fails to lend support. Gold price  is extending the overnight breakdown-momentum below the $1,700 mark and is continuing to lose ground for the second successive day on Thursday. The downward trajectory is draging the XAUUSD to its lowest level since August 2021, around the $1,689-$1,688 region during the early European session. Gold price weighed down by hawkish central banks The prospects for more  interest rate hikes by major central banks  is becoming a key factor contributing to driving flows away from the non-yielding gold. The European Central Bank is all set to raise interest rates for the first time since 2011 on Thursday. A Reuters report indicate...

  Canada CPI Overview Statistics Canada will release the latest consumer inflation figures for June later during the early North American session on Wednesday, at 12:30 GMT. The headline CPI is expected to ease from 1.4% in May to 0.9% during the reported month. The yearly rate, however, is anticipated to surge to its highest level since 1982 and come in at 8.4% in June, up from 7.7% in the previous month. More importantly, the Bank of Canada's Core CPI, which excludes volatile food and energy prices, is estimated to rise 0.5% MoM in June and accelerate to 6.7% on a yearly basis from the 6.1% in May. According to analysts at RBC Economics: “This continued acceleration was likely largely driven by higher food and energy prices – both of which have been boosted by global pressures. Oil prices rose another 4.8% from May and consumer food prices have been surging in part due to higher commodity prices and acute supply chain disruptions. Roughly half of inflation recently has been drive...