FXStreet
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Bitcoin Price Forecast: BTC steadies as markets turn cautious ahead of key economic data
Bitcoin (BTC) steadies around $77,700 on Thursday, trading sideways after its sharp rally during the second half of August. Institutional demand supports this range-bound price action, with spot Exchange Traded Funds (ETFs) recording mixed flows so far this week.
Thu, Sep 3
Gold climbs as Yen-led US Dollar decline outweighs hawkish Fed expectations
Gold (XAU/USD) extends its rebound on Thursday after slipping below $4,300 to a nearly four-week low on the previous day. A sharp rally in the Japanese Yen (JPY) weighs on the US Dollar (USD), helping the precious metal regain ground.
Thu, Sep 3
New Zealand Dollar gains against US Dollar due to unfavorable US NFP backdrop
The New Zealand Dollar (NZD) is up 0.16% at around 0.5860 against the US Dollar (USD) during the European trading session on Thursday.
Thu, Sep 3
Euro tumbles as Japanese Yen surges on intervention threats
EUR/JPY falls sharply on Thursday and trades around 181.40 at the time of writing, down 1.37% on the day. The Japanese Yen (JPY) strengthens significantly against the Euro (EUR), supported by renewed warnings from Japanese authorities over foreign exchange market moves.
Thu, Sep 3
Gold Price Forecast: XAU/USD recovery, likely to be challenged around $4,470
Gold (XAU/USD) is trading higher on Thursday, returning to levels above $4.400 after bouncing from three-week lows near $4,280 on Wednesday.
Thu, Sep 3
Swiss Franc: Swiss data supports dip-buying case – Societe Generale
Societe Generale strategists note Swiss August Consumer Price Index (CPI) and second-quarter Gross Domestic Product (GDP) surprised to the upside, triggering profit-taking in EUR/CHF and USD/CHF but leaving Swiss National Bank (SNB) policy expectations unchanged.
Thu, Sep 3
0.8600 under pressure: EUR/GBP at two-month highs following Services PMIs
The Euro (EUR) extends gains against a weaker British Pound (GBP) for the fourth consecutive day on Thursday, following downward revisions of both the Eurozone and UK Services Purchasing Managers’ Index (PMI) figures.
Thu, Sep 3
Crypto Today: Bitcoin, Ethereum, XRP show faint recovery signals amid mixed ETF flows
The cryptocurrency market broadly and subtly recovers on Thursday, led by Bitcoin’s (BTC) rise near $78,000. This follows persistent declines from the August peak near $81,500.
Thu, Sep 3
Canadian Dollar: BoC inflation focus and valuation divergence – MUFG
Derek Halpenny at MUFG notes the Canadian Dollar’s (CAD) immediate advance after the Bank of Canada left rates unchanged at 2.25% but signalled greater concern over inflation.
Thu, Sep 3
Silver price today: Silver rises, according to FXStreet data
Silver prices (XAG/USD) rose on Thursday, according to FXStreet data. Silver trades at $65.88 per troy ounce, up 0.87% from the $65.31 it cost on Wednesday.
Thu, Sep 3
Japan’s Mimura keeps threat of FX intervention alive
Japan’s top currency diplomat Atsushi Mimura reiterates on Thursday that authorities remain ready to act in the foreign exchange market, as Tokyo continues to closely monitor currency moves.
Thu, Sep 3
Ethereum shows mild weakness as derivatives interest, US sentiment weakens
Ethereum (ETH) eases toward $2,400 on Thursday as derivatives interest and US sentiment tilts toward the downside.
Thu, Sep 3
Polish Zloty: NBP language turns cautious after FX pressure – Commerzbank
Commerzbank’s Tatha Ghose notes that NBP Governor Adam Glapinski used G20 remarks to shift towards a more neutral, flexible stance, avoiding earlier dovish hints of imminent rate cuts. With August CPI surprising hawkishly and the Zloty underperforming CE3 peers, the bank is seen on the back foot.
Thu, Sep 3
Japanese Yen strengthens following hawkish BoJ comments
USD/JPY extends its losses for the second consecutive day, trading around 156.80 during the European hours on Thursday.
Thu, Sep 3
Australian Dollar: Pullback eases with upside focus on 0.7200 against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann report AUD/USD dipped to 0.7122 before a strong rebound to 0.7176, leaving intraday price action in a 0.7140–0.7180 range. Downward momentum is fading and a break above 0.7190 would confirm 0.7120 is out of reach.
Thu, Sep 3
ISM Services PMI Preview: US service sector expected to expand in August
On Thursday, we’ll get the latest read on the US service sector when the Institute for Supply Management (ISM) publishes its August gauge. Consensus points to a marginal improvement to 54.3 from July’s 54.1.
Thu, Sep 3
Japanese Yen: Intervention jitters linger – ING
Chris Turner at ING notes that a near 1% drop in USD/JPY within minutes, followed by another slide, sparked talk of renewed Japanese intervention after the Bank of Japan’s earlier $96 billion sales.
Thu, Sep 3
Silver Price Forecast: XAG/USD struggles to extend upside above $66.25, NFP data awaited
Silver price (XAG/USD) struggles to extend Wednesday’s strong recovery move above $66.25 during the European trading session on Thursday. The white metal could remain sideways as investors await the United States (US) Nonfarm Payrolls (NFP) data for August, which will be released on Friday.
Thu, Sep 3
Dow Jones futures gain as oil prices, US yields ease
Dow Jones futures gain by 0.18% to trade near 53,220 during European hours on Thursday. Meanwhile, S&P 500 futures advance by 0.16% to trade near 7,690, while Nasdaq 100 futures inch higher by 0.03% to trade around 29,200.
Thu, Sep 3
US Dollar: Hedging impulse fades as holdings stabilize – BNY
BNY’s Geoff Yu notes that the July FOMC-driven Dollar hedging impulse has largely run its course, with early signs of USD buying returning against EUR, MXN and CAD.
Thu, Sep 3
