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Market News

View the daily news commentary to obtain insight on the financial markets.

NZD/USD Price Analysis: Bulls assert dominance, closes its best week of 2024

May 17, 2024, 10:06:49 PM UTC
In Friday's session, the NZD/USD rose to the 0.6137 level, demonstrating a strong bullish trend.
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Gold prices rally and refreshes monthly highs above $2,400

May 17, 2024, 10:01:04 PM UTC
Gold's price skyrocketed during the North American session ahead of the weekend as XAU/USD traded above $2,400, posting gains of more than 1.5% amid higher US Treasury bond yields.
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US Dollar closes the week soft, markets digest cautious Fed

May 17, 2024, 9:58:21 PM UTC
The US Dollar Index (DXY) is currently trading at 104.50, maintaining a neutral stance.
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Canadian Dollar treads water on tepid Friday

May 17, 2024, 9:35:17 PM UTC
The Canadian Dollar (CAD) is trading softly on a low-volatility Friday, sticking close to the midrange.
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Dow Jones Industrial Average closes above 40,000 in quiet Friday climb

May 17, 2024, 9:32:01 PM UTC
The Dow Jones Industrial Average (DJIA) is on the high side as markets wind down a hectic trading week that saw rate cut hopes return to the forefront after US Consumer Price Index (CPI) inflation eased to a three-month low.
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Mexican Peso extends rally for three weeks amid soft US Dollar

May 17, 2024, 8:46:20 PM UTC
The Mexican Peso continues to record gains versus the US Dollar, refreshing its four-week high as the rally continued.
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USD/JPY Price Analysis: Extends gains but remains below 156.00

May 17, 2024, 8:44:06 PM UTC
The USD/JPY extended its gains late on Friday’s North American session, though it’s set to finish the week unchanged.
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WTI pushes into fresh weekly high late Friday as Crude oil recovers ground

May 17, 2024, 8:31:43 PM UTC
West Texas Intermediate (WTI) rose in late-day bidding on Friday as Crude Oil markets recover, but still remains within recent consolidation levels.
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USD/THB plunges and approaches the 100-day SMA, USD cushioned by Fed officials

May 17, 2024, 7:52:37 PM UTC
The USD/THB continued to lose ground on Friday despite the cautious tone seen in the latest Federal Reserve (Fed) officials' words.
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United Kingdom CFTC GBP NC Net Positions rose from previous £-21.8K to £-20.1K

May 17, 2024, 7:31:51 PM UTC
United Kingdom CFTC GBP NC Net Positions rose from previous £-21.8K to £-20.1K
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Australia CFTC AUD NC Net Positions fell from previous $-64.5K to $-77.2K

May 17, 2024, 7:31:43 PM UTC
Australia CFTC AUD NC Net Positions fell from previous $-64.5K to $-77.2K
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United States CFTC S&P 500 NC Net Positions down to $-25.3K from previous $-9.7K

May 17, 2024, 7:31:38 PM UTC
United States CFTC S&P 500 NC Net Positions down to $-25.3K from previous $-9.7K
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United States CFTC Gold NC Net Positions: $204.5K vs $199.6K

May 17, 2024, 7:31:27 PM UTC
United States CFTC Gold NC Net Positions: $204.5K vs $199.6K
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United States CFTC Oil NC Net Positions fell from previous 215.4K to 203K

May 17, 2024, 7:31:16 PM UTC
United States CFTC Oil NC Net Positions fell from previous 215.4K to 203K
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Japan CFTC JPY NC Net Positions climbed from previous ¥-134.9K to ¥-126.2K

May 17, 2024, 7:31:10 PM UTC
Japan CFTC JPY NC Net Positions climbed from previous ¥-134.9K to ¥-126.2K
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Eurozone CFTC EUR NC Net Positions rose from previous €4.6K to €17.2K

May 17, 2024, 7:31:00 PM UTC
Eurozone CFTC EUR NC Net Positions rose from previous €4.6K to €17.2K
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USD/NOK with light losses on quiet Friday, cautious Fed supports the USD

May 17, 2024, 6:05:48 PM UTC
The USD/NOK stands mildly down on Friday with the Greenback holding its ground thanks to the cautious tone of the Federal Reserve (Fed) officials.
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United States Baker Hughes US Oil Rig Count: 497 vs 496

May 17, 2024, 5:43:42 PM UTC
United States Baker Hughes US Oil Rig Count: 497 vs 496
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Fed officials recognize overall inflation progress, but cautious tones remain

May 17, 2024, 4:57:00 PM UTC
Federal Reserve (Fed) policymakers are scheduled to deliver speeches on Thursday as investors reassess the interest rate outlook following the April Consumer Price Index (CPI) data.
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Russia Consumer Price Index (MoM) in line with expectations (0.5%) in April

May 17, 2024, 4:00:34 PM UTC
Russia Consumer Price Index (MoM) in line with expectations (0.5%) in April
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Forecasting the Coming Week: Fedspeak and FOMC Minutes should rule the sentiment

May 17, 2024, 3:40:21 PM UTC
The Greenback lost further ground and dropped to multi-week lows on the back of rising expectations of interest rate cuts by the Fed, a view that was further reinforced by lower US CPI data in April The Greenback remained on the back foot and dragged the USD Index (DXY) to the 104.00 zone amidst an equally downward move in US yields.
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GBP/USD Price Analysis: Rallies toward 1.2700, bulls’ target YTD high

May 17, 2024, 3:08:33 PM UTC
The British Pound registers gains of 0.21% against the US Dollar, although higher US Treasury yields failed to underpin the Greenback.
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EUR/USD bounces back even though Fed officials maintain hawkish gudaince on interest rates

May 17, 2024, 2:54:47 PM UTC
EUR/USD recovers from 1.0830 in Friday’s American session as market sentiment over upcoming interest-rate cuts improves despite Federal Reserve (Fed) policymakers supporting keeping the monetary policy stance restrictive for a longer period.
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Fed's Waller does not comment on policy or economic outlook

May 17, 2024, 2:49:00 PM UTC
Federal Reserve (Fed) Governor Christopher Waller delivered a prepared speech at the International Organization for Standardization Technical Committee 68 Financial Services 44th Plenary Meeting on Friday but refrained from commenting on the monetary policy or the economic outlook.
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Silver Price Forecast: XAG/USD posts fresh multi-year high at $30.50 on firm Fed rate-cut prospects

May 17, 2024, 2:43:43 PM UTC
Silver price (XAG/USD) refreshes multi-year high at $30.50 in Friday’s New York session.
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Gold continues rallying on strong China data

May 17, 2024, 2:23:15 PM UTC
Gold price (XAU/USD) is trading three-tenths of a percent higher on Friday, in the $2,380s, helped by positive data from China that brightened the prospects for the country with the world’s largest market for Gold.
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Mexican Peso resumes uptrend after pause

May 17, 2024, 2:20:00 PM UTC
The Mexican Peso (MXN) trades broadly unchanged in its key pairs on Friday, with USD/MXN flatlining as the US Dollar (USD) stabilizes after its recent sell-off and market sentiment remains relatively calm heading into the weekend.
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WTI trades sideways around $79.00 with eyes on PBoC policy decision

May 17, 2024, 2:11:00 PM UTC
West Texas Intermediate (WTI), futures on NYMEX, are stuck in a tight range slightly below $79.00 in Friday’s New York session.
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US Dollar faces some easing in the US trading session

May 17, 2024, 1:56:01 PM UTC
The US Dollar (USD) is continuing its recovery on Friday for a second day in a row after the steep decline seen on Wednesday, which marked this week for the Greenback. Markets have priced
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Japanese Yen retreats with Greenback easing into US session

May 17, 2024, 1:51:00 PM UTC
The Japanese Yen (JPY) trades flat for the week, posting a second day of losses against the  US Dollar (USD) on Friday. The JPY is struggling against the Dollar during the latter part of the
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