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The Australian Dollar (AUD) edges lower against the US Dollar (USD) after opening from a gap up on Monday due to optimism over progress in the United States (US)–China trade negotiations. Traders await the key upcoming Q3 and the September monthly inflation data for Australia this week which could shape the Reserve Bank of Australia’s (RBA) policy outlook.The AUD/USD pair received support after United States (US) and Chinese negotiators reached a consensus on major disputes, which paves the way for Presidents Donald Trump and Xi Jinping to meet on Thursday to finalize a trade deal aimed at easing tensions. Officials…

The GBP/USD softened as the dollar strengthened later this week, driven by major US and UK data releases.  Traders price in a 25 basis point cut by the Bank of England by year-end. Traders await the FOMC rate decision and Powell’s commentary next week.  The GBP/USD weekly forecast remains subdued as the pair consolidates near the 1.3325 level, followed by key releases from the UK and the US. The UK economic indicators slightly boosted the pound sterling. However, the dollar’s safe-haven demand restricted further upside, keeping the pair steady. -Are you interested in learning about the Bitcoin price prediction? Click…

EUR/USD is poised to finish the week with losses of 0.21% yet it remains above the 1.16 figure for the third straight day, capped on the upside by key resistance levels after US data might not deter the Fed from cutting rates.Euro supported by upbeat PMIs; Moody’s warning on France limits upside momentumInflation data in the US would not move the needle in favor of Fed hawks, missing estimates to the downside, though it remains far from the central bank 2% goal. After that, S&P Global showed that the economy shows signs of strength as manufacturing and services flash PMIs,…

USD/CHF remains subdued on Friday, yet the pair trades below 0.8000, poised to finish the week with modest gains of over 0.25%. At the time of writing, the pair trades at 0.7956, virtually unchanged.USD/CHF Price Forecast: Technical outlookThe USD/CHF pair continued to consolidate this week. Although traders are facing stir resistance at the confluence of the 20 and 50-day Simple Moving Average (SMA) at 0.7974/84, a breach of the latter could drive the pair towards 0.8000.Momentum is bearish as depicted by the Relative Strength Index (RSI), meandering below its 50 neutral level.For a bearish continuation, traders must clear the October…

The Dow Jones Industrial Average (DJIA) lumbered into record highs on Friday, posting intraday bids north of 47,300 for the first time ever. Investor sentiment hit high gear after US Consumer Price Index (CPI) inflation came in below expectations, keeping hopes for further interest rates from the Federal Reserve (Fed) pinned to the ceiling.Headline CPI inflation came in at 3.0% YoY in September, clocking in just below the expected hold at 3.1% and sending investors scrambling to pick up risk assets on expectations that the Fed is now locked into two quarter-point interest rate cuts by the end of the…

Gold price erases earlier losses, rises over 0.10% on Friday following the release of the September inflation report in the US, which showed that prices climbed but would not deter the Federal Reserve (Fed) from cutting rates next week. XAU/USD trades at $4,127 after bouncing off daily lows of $4,043, courtesy of a mildly softer than expected Consumer Price Index (CPI) report. The data was mostly aligned with estimates but failed to provide Fed hawks with justification for not easing policy.Bullion recovers above $4,100 as traders price in dovish Fed outlookExpectations that the Fed would cut rates at the October…

The Australian Dollar (AUD) is virtually unchanged against the US Dollar (USD) on Friday after volatile two-way price action driven by a mix of US macro data. At the time of writing, AUD/USD trades around 0.6511, holding steady after earlier swings following the release of the US Consumer Price Index (CPI) and S&P Global Purchasing Managers Index (PMI) reports.The Greenback briefly came under pressure after softer-than-expected inflation data lifted the Aussie earlier in the session. However, the momentum faded as the USD recovered following stronger business activity readings, which underscored ongoing resilience in the US economy. The US Dollar Index…

Gold (XAU/USD) stages a rebound on Friday, trimming intraday losses after softer-than-expected US Consumer Price Index (CPI) data. At the time of writing, XAU/USD is trading around $4,130, recovering from session lows near $4,044, though the metal remains on track to snap its nine-week winning streak.The weaker inflation data reinforced expectations of a 25-basis-point (bps) rate cut at the Federal Reserve’s (Fed) October 29-30 monetary policy meeting. Lower borrowing costs typically enhance the appeal of non-yielding assets like Gold, as they reduce the opportunity cost of holding the metal.Market sentiment somewhat improved amid hopes of a de-escalation in the renewed…

EUR/GBP advances during the North American session on Friday, even though Retail Sales in the UK exceeded estimates, but a softer inflation reading increased the odds for further easing by the Bank of England. The cross trades at 0.8744, up 0.74% and hitting a four-week high at the time of writing.Sterling weakens despite upbeat sales figures; Euro lifted by firmer PMIs across the blocEarlier, the Office for National Statistics (ONS) revealed that Retail Sales in September rose 1.5% YoY, exceeding forecasts of 0.6%, boosted by technology and demand for Gold from online retailers. Core sales, which exclude petrol, expanded by…

Business activity in the United States’ (US) private sector expanded at a healthy pace in October, with the S&P Global Composite Purchasing Managers’ Index (PMI) improving to 54.8 in the flash estimate from 53.9 in September.In this period, the S&P Global Manufacturing PMI edged higher to 52.2 from 52, while the Services PMI climbed to 55.2 from 54.2. Both of these prints came in better than analysts’ estimates.Assessing the survey’s findings, Chris Williamson, Chief Business Economist at S&P Global Market Intelligence, stated, “October’s flash PMI data point to sustained strong economic growth at the start of the fourth quarter, with…