Japanese Yen: USD/JPY (JPY=X) struggling to extend the momentum beyond the 109.00 handle

Japanese Yen: USD/JPY (JPY=X) struggling to extend the momentum beyond the 109.00 handle The USD/JPY pair refreshed multi-week tops during the Asian session on Wednesday, albeit struggled to extend the momentum beyond the 109.00 handle. Following last week’s upbeat headline NFP print for June, diminishing odds for a 50bps point rate cut by the Fed…

Silver 1 OZ 999 NY (XAG=X) rallied as the statement by the Federal Reserve Chairman was released ahead of his testimony in front of Congress

Silver 1 OZ 999 NY (XAG=X) rallied as the statement by the Federal Reserve Chairman was released ahead of his testimony in front of Congress Silver markets rallied a bit during the trading session after initially falling on Wednesday, slicing through the 200 day EMA. In fact, we even got above the $15.25 level during the…

Gold 1 OZ (XAU=X) Powell cited several concerns regarding the U.S. economy that traders are deeming dovish on monetary policy

Gold 1 OZ (XAU=X) Powell cited several concerns regarding the U.S. economy that traders are deeming dovish on monetary policy Gold prices are solidly higher and near daily highs in early U.S. trading Wednesday, following the just-released prepared text from Federal Reserve Chairman Jerome Powell for his speech to the U.S. House of Representatives. Powell cited…

Australian Dollar: USD/AUD (AUD=X) lack of progress in the US-China trade talks seemed to cap attempted recovery

Australian Dollar: USD/AUD (AUD=X) lack of progress in the US-China trade talks seemed to cap attempted recovery The AUD/USD pair quickly reversed an early European session dip to fresh 2-1/2 week lows and is currently placed at the top end of its daily trading range, around the 0.6925-30 region. The pair stalled its recent downward…

Euro: USD/EUR (EUR=X) trading higher after Federal Reserve Chair Jerome Powell said the central bank will “act as appropriate” to sustain expansion as “crosscurrents”

Euro: USD/EUR (EUR=X) trading higher after Federal Reserve Chair Jerome Powell said the central bank will “act as appropriate” to sustain expansion as “crosscurrents” The Euro is trading higher on Wednesday after Federal Reserve Chair Jerome Powell said the central bank will “act as appropriate” to sustain expansion as “crosscurrents” are weighing on the economic…

United States Oil (USO) US crude inventories shrank and as major producers cut nearly a third of offshore Gulf of Mexico production ahead of an expected storm

United States Oil (USO) US crude inventories shrank and as major producers cut nearly a third of offshore Gulf of Mexico production ahead of an expected storm Oil prices rose 4.5 per cent a barrel on Wednesday to their highest level in more than a month after US crude inventories shrank and as major producers…