Euro: Weakens despite ECB rate hike signals against US Dollar – UOB
Euro: Weakens despite ECB rate hike signals against US Dollar – UOB
Market narrative
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Euro: Weakens despite ECB rate hike signals against US Dollar – UOB
Forex
The Pound to US Dollar (GBP/USD) exchange rate traded in a narrow range on Thursday as investors continued to assess Prime Minister Andy Burnham's first week in office while awaiting fresh economic data. At the time of writing, GBP/USD was trading around $1.3362, down marginally on the day.
The Pound to Australian Dollar (GBP/AUD) exchange rate fell to a near one-month low on Thursday after stronger-than-expected Australian employment figures boosted the ‘Aussie'. At the time of writing, GBP/AUD was trading around AU$1.9091, having recovered from an intraday low of approximately AU$1.9066.
Gold tests major support at 4,000 as Middle East tensions, crude oil and a stronger US dollar leave bulls searching for a cat.
Elliott Wave outlook: Gold (XAU/USD) rally rejected, downside potential remains [Video]
Saudi Arabia Gold price today: Gold falls, according to FXStreet data
Philippines Gold price today: Gold falls, according to FXStreet data
United Arab Emirates Gold price today: Gold falls, according to FXStreet data
Pakistan Gold price today: Gold falls, according to FXStreet data
Pound Sterling Price News & Forecast: GBP/USD recovers some lost ground, snapping the five-day losing streak
India Gold price today: Gold falls, according to FXStreet data
Malaysia Gold price today: Gold falls, according to FXStreet data
TL;DR: Gold and Silver tumbled as markets returned to the oil-rates relationship that governed Q2, with Brent above $100 and 10-year Treasury yields above 4.7% restoring pressure on the metals — leaving their next move hostage to Trump's binary decision on Iran.
AUD/JPY Price Forecast: Holds gains above 114.00, bullish vibe remains intact above 100-day SMA
Gold extends slide as inflation fears lift Fed hike bets and USD amid Trump's tariffs
EUR/JPY Price Forecast: Eyes rising wedge top near 187.00
The US Dollar started a fresh increase from 162.65 against the Japanese Yen. USD/JPY cleared the key hurdle at 163.20 to enter a bullish zone.
Gold Price Forecast: XAU/USD retains bearish bias heading into the Fed week
Silver Price Forecast: XAG/USD holds gains above $57.50 despite rising Fed rate hike odds
Gold and silver remain under pressure as a stronger US Dollar and higher interest rate expectations limit recovery, while both metals trade near key technical levels that could determine the next major move.