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WTI extends losing streak for the third day, set to close the week in negative territory.A firmer US Dollar and weak US fuel demand weigh on prices despite the Fed rate cut.WTI trades in a tight range between $64.30 resistance and $61.50 support, with RSI near 45 signaling weak momentum.West Texas Intermediate (WTI) Crude Oil remains under pressure on Friday, extending its losing streak for the third straight day. The US benchmark has surrendered all the gains it notched earlier in the week and is now poised to end the week in negative territory.At the time of writing, WTI is…

Newly minted Federal Reserve (Fed) Board of Governors member Stephen Miran, in a stiff departure from standard Fed rhetoric policy, revealed exactly where his opinion landed in the Federal Open Market Committee’s (FOMC) latest Summary of Economic Projections (SEP). Miran voted for effectively double the amount of basis-point interest rate reductions that the rest of the Fed policymakers negotiated at the latest rate call meeting, a bizarre way to effectively scrub his own vote from the weightings. Interest rates are set at the majority quarter-point level chosen by Fed voters from one meeting to the next, rather than a range…

Gold trades near $3,670 on Friday, snapping a two-day losing streak after the Fed’s interest rate cut.The US Dollar and Treasury yields extend post-Fed rebound as Powell’s tone proved less dovish than expected.Gold remains cushioned as markets anticipate two more Fed rate cuts by year-end.Gold (XAU/USD) regains ground on Friday, snapping a two-day losing streak after a volatile midweek reaction to the Federal Reserve’s (Fed) interest rate decision. At the time of writing, XAU/USD is trading around $3,668 during the American session, up nearly 0.65%.On Wednesday, the US central bank lowered the federal funds rate by 25 basis points (bps)…

The USD/JPY price analysis shows increasing pressure within the Bank of Japan to hike interest rates. BoJ policymakers Hajime Takata and Naoki were ready to hike interest rates. The dollar continued its recovery after the Fed meeting. The USD/JPY price analysis shows increasing pressure within the Bank of Japan to hike interest rates, which briefly boosted the yen on Friday. However, dollar strength after the expected Fed rate cut soon undid the gains in the yen. –Are you interested to learn more about ECN brokers? Check our detailed guide- The Bank of Japan on Friday kept interest rates steady as…

In the previous reporting week, the overall reserves had increased $4.038 billion to $698.268 billion. | Photo Credit: DHIRAJ SINGH India’s forex reserves jumped $4.698 billion to $702.966 billion for the week ended September 12, the Reserve Bank of India said on Friday.In the previous reporting week, the overall reserves had increased $4.038 billion to $698.268 billion.The overall reserves had jumped $3.51 billion to $694.23 billion.For the week ended September 5, foreign currency assets, a major component of the reserves, increased $2.537 billion to $587.014 billion, the data released on Friday showed.Expressed in dollar terms, the foreign currency assets include…

The Indian Rupee ticks down to near 88.40 against the US Dollar as the Greenback trades firmly.The US Initial Jobless Claims for the week ending September 13 came in lower at 231K.India’s CEA Nageswaran expresses optimism that US-India trade tensions will resolve in a couple of months.The Indian Rupee (INR) remains on the back foot against the US Dollar (USD) on Friday. The USD/INR pair trades firmly near Thursday’s high around 88.40 as the US Dollar gained ground after the monetary policy announcement by the Federal Reserve (Fed) on Wednesday, in which it reduced interest rates by 25 basis points…

Silver price gains further to near $42.40 as the Fed has signaled two more interest rate cuts this year.On Wednesday, the Fed reduced interest rates by 25 bps to 4.00%-4.25%.Investors await Fed’s Daly speech scheduled at 18:30 GMT.Silver price (XAG/USD) extends its Thursday’s upside move to near $42.40 during the European trading session on Friday. The white metal strengthens as the Federal Reserve (Fed) has started the monetary-easing campaign amid growing United States (US) labor market concerns.On Wednesday, the Fed reduced interest rates by 25 basis points (bps) to 4.00%-4.25% and signaled through its dot plot that there would be…

The Euro dips to fresh session lows below 1,1750 after ECB Centeno’s dovish comments.Stronger-than-expected US jobless claims and manufacturing activity figures have underpinned the US Dollar’s recovery.In Europe, France’s growing political unrest increases pressure on the Euro.EUR/USD is heading lower for the third day in a row, trading at 1.1765 at the time of writing on Friday, down from the four-year highs above 1.1900 hit earlier this week. Strong US macroeconomic data has provided additional support to the US Dollar, while in Europe, the political unrest in France and dovish comments by ECB’s Centeno have added pressure on the Euro…

Dow Jones futures lose some ground ahead of the US market open on Friday.US stock indices reached record highs on market optimism, driven by the Fed’s signal of two more cuts this year.Tech stocks powered Thursday’s rally, driven by Intel’s 23% surge after Nvidia announced a $5 billion chip co-development investment.Dow Jones futures lose 0.13%, with trading around 46,450 during European hours on Friday, ahead of the opening of the United States (US) regular session. Moreover, the S&P 500 futures decline 0.16% to remain below 6,700, while Nasdaq 100 futures fall 0.11% to trade near 24,650.US index futures edge lower…

The Pound picks up from weekly lows against the Yen following BoJ Ueda’s conference. solid UK consumption data.The Yen Jumped earlier on Friday, after a hawkish hold by the Bank of Japan.UK Retail Sales beat forecasts amid a strong increase in clothing, non-store retail, and specialist food shops.The British Pound bounced up from weekly lows near 199.35 and returned above 199.50 as the Yen gave away some of its previous gains after BoJ Governor Ueda’s press conference. In the UK, upbeatrt retail sales figures have contributed to providing some support to the Pound.Ueda said that the economy remains resilient despite…