Fundamental view: The yellow metal moved up and down against greenback in the previous week. The US dollar’s market valuation, rather than risk sentiment, remained the primary driver of XAU/USD’s movements throughout the week. Powell’s dovish tone and the FOMC’s commitment to continue to support the economic recovery triggered a USD selloff late on Wednesday [...]
Fundamental view: The British pound has gone back and forth during the course of the week and overall formed a bear candle. The interest rates in America seem to be main culprit in creating a lot of noise. In the previous week, The Fed's dot-plot shows borrowing costs will rise only in 2024.The dovish approach sent the [...]
Fundamental view: The Euro went back and forth during the course of this week. In this week, The ECB decided to maintain rates and leave quantitative easing unchanged, as expected but announced it would significantly step up the pace of bond-buying to grant financial stability. Governmental support and ultra-loose central banks’ policies are still short of boosting economic growth. Amidst [...]
Fundamental view: The British pound tried to rally against the greenback in the previous week. During this week, The US conducted three bond auctions and all were calmer than some had feared. Robust demand for US debt helped temporarily pushes returns lower, weighing on the dollar. However, expectations for strong growth in the world's largest economy meant that the [...]
