Gold rose on Tuesday, tracking the decline in US Treasury yields after a deal in Washington to raise the government’s debt ceiling, potentially averting a catastrophic government default. But is the short-term downtrend in the yellow metal over? Yields on near-end US Treasury bills fell sharply even as the deal needs to secure blessings from...Read More

The euro is beginning to look a bit oversold at least against the US dollar ahead of key Euro area inflation data, opening the door for a minor rebound. However, the pace and the extent of the fall this month have raised the bar for a sustained move higher in the single currency. Overbought conditions,...Read More

The US Dollar is steady at the start of the week as markets digest the possibility of a debt ceiling deal being passed by Congress this week. Over the weekend, US President Joe Biden and House Speaker Kevin McCarthy both said that the two of them have come to an agreement and it will be...Read More

UK headline inflation fell back into single digits, figures showed this week but failed to meet analyst expectations, while the core reading rose to levels last seen over three decades ago. While elevated energy prices started to fall out of the reading, food prices, in particular, continued to rise, putting the squeeze on consumers. The...Read More

While global markets continue to anticipate a “soft landing” and remain at their highest levels, the price of copper, considered a relevant indicator of the health of the global economy, is correcting sharply and is at its lowest level since November. The red metal is used in many industries, such as real estate, telecoms, and...Read More

The British pound’s rally against some of its peers has stalled recently, and chances are that the consolidation could extend a bit further in the short term. UK macro momentum has been solid as reflected in the two-year high readings of the UK Economic Surprise Index. Data released on Wednesday showed inflation moderated by much...Read More

The New Zealand dollar tumbled after the Reserve Bank of New Zealand (RBNZ) raised its benchmark rate by 25 basis points, in line with expectations, but signaled it may be done with tightening. The New Zealand central bank was widely expected to hike the cash rate by 25 basis points to 5.5%, albeit a smaller...Read More

The Australian dollar has been mixed against its peers as Australian rate hike expectations scaled back after employment unexpectedly fell in April. The key focus is now on retail sales data for April due Friday – forecast to have slowed to 0.1% on-month from 0.4% previously. Broadly Australian macro data have come in above expectations...Read More

The US Dollar dipped again against the Suisse, Euro, Sterling and Yen to start the week with the US debt ceiling creating doubt in traders’ minds. Talks are due to resume later today between US President Joe Biden and House Speaker Kevin McCarthy. The latter said that a phone call between the two on Sunday...Read More

EURO FUNDAMENTAL FORECAST: BULLISH The euro heads into the week on the front foot after Fed Chair Jerome Powell’s comments saw Fed interest rate probabilities ‘dudishly’ re-priced. The likelihood of another 25bps hike in June has now been diminished while European Central Bank (ECB) officials continue on their hawkish path. German data will lead the...Read More