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Silver Price Forecast: XAG/USD steadies around $69.00 amid US bond buybacks
Silver price (XAG/USD) remains stronger for the fourth successive day, trading around $69.00 per troy ounce during the European hours on Monday. Silver price rises as concerns over United States (US) debt management and fiscal sustainability persist.
Mon, Aug 24
Forex Today: Majors stay quiet as investors await US' 'economic D-Day' sanctions
Here is what you need to know on Monday, August 24:
Mon, Aug 24
US Dollar: Momentum fades as yields stay high – MUFG
MUFG’s Lloyd Chan notes that the Dollar has extended its recent soft patch even as US Q3 GDP forecasts are upgraded to 2.5% annualized from 2.0%. Elevated fiscal deficits and long-end Treasury yields are weighing on sentiment.
Mon, Aug 24
Euro: ECB patience with inflation and growth tension – BNY
Geoff Yu at BNY notes that Europe is seeking a Goldilocks mix of improving activity without reigniting inflation, with Euro strength already tightening conditions.
Mon, Aug 24
British Pound holds near six-month highs as debt woes keep US Dollar rallies shallow
The British Pound (GBP) holds mild gains for the fourth consecutive day against the US Dollar (USD) on a calm Monday session, as ongoing concerns about the US Treasury’s bond buyback plans keep US Dollar bulls subdued.
Mon, Aug 24
British Pound: Range-trade now, 1.3700 in sight against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann note GBP/USD remains in a short-term consolidation, with price action confined between 1.3620 and 1.3665 after an overbought push to 1.3675.
Mon, Aug 24
Canadian Dollar: Trade conflict weighs on Loonie – Commerzbank
Commerzbank’s Michael Pfister says the latest breakdown in US–Canada trade talks and Ottawa’s planned retaliatory tariffs point to a potentially protracted trade conflict.
Mon, Aug 24
Australian Dollar holds near June highs, above 0.7150 ahead of expected Iran sanctions
The AUD/USD pair extends the sideways consolidative price move near its highest level since early June, touched on Friday, and holds steady above mid-0.7100s through the early European session.
Mon, Aug 24
ECB's Cipollone: Risk of economic stagnation and sharp inflation rise is rather remote
European Central Bank (ECB) Executive Board member Piero Cipollone said that the risk of economic stagnation and a sharp increase in inflation due to the crisis in the Strait of Hormuz is rather remote, Reuters reported on Monday.
Mon, Aug 24
Canadian Dollar declines as US-Canada trade talks collapse
The USD/CAD pair recovers some lost ground to near 1.3820 during the early European session on Monday. The Canadian Dollar (CAD) weakens against the US Dollar (USD) after US-Canada talks collapse into a trade war.
Mon, Aug 24
Gold: Upside risks building as fiscal worries grow – ING
ING Commodities Strategist Ewa Manthey highlights that Gold has rebounded from its July lows near $4,000/oz to around $4,600/oz, supported by renewed investment demand, a weaker Dollar and mounting concerns over the US fiscal outlook.
Mon, Aug 24
Solana Price Forecast: SOL eyes $100 breakout amid governance voting, renewed ETF inflows
Solana (SOL) edges lower to $94 on Monday, following a 27% rebound last week to a two-month high. SOL-focused Exchange Traded Funds (ETFs) recorded four consecutive days of inflows last week, totaling $28.34 million, suggesting renewed institutional buying.
Mon, Aug 24
WTI Oil flirts with the $85.00 level with markets economic D-Day sanctions on Iran
Crude prices are trimming some of last week’s gains on Monday. The US benchmark West Texas Intermediate Oil is changing hands at $85.35, with investors awaiting details of a new package of US sanctions against Iran that might extend to Russia or China.
Mon, Aug 24
Equities: Resilience supported by strong macro – Danske Bank
Danske Research Team reports that Equities ended Friday higher, though several markets, especially in the US, finished the week lower. The team stresses that robust macro and earnings data, plus sector leadership from Materials over Utilities, show no defensive rotation.
Mon, Aug 24
Japanese Yen: Psychological resistance and intervention fears – MUFG
MUFG’s Teppei Ino reviews recent USD/JPY trading ahead of Jackson Hole. The pair opened near 159 and repeatedly tested the 160 level, which acted as psychological resistance as traders watched for possible Japanese intervention.
Mon, Aug 24
Euro: Upside room toward 1.1800 against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann keep a constructive view on EUR/USD after the pair held near 1.1680 and tested 1.1710 twice.
Mon, Aug 24
EUR/USD Price Forecast: Holds steady below 1.1700 as overbought momentum tempers further gains
The EUR/USD pair holds steady near 1.1680 during the early European trading hours on Monday. Fiscal interventions from the US Treasury weigh on the US Dollar (USD) against the Euro (EUR). Traders brace for details of sanctions on Iran and a policy speech this week in the United States (US).
Mon, Aug 24
Indonesian Rupiah declines despite prevailing high interest rates, weaker US Dollar
USD/IDR gains ground after three days of losses, trading around 17,740 during the Asian hours on Monday. However, the currency pair could face headwind pressure as the Indonesian Rupiah (IDR) may draw renewed support from lingering high interest rates.
Mon, Aug 24
Cardano Price Forecast: ADA rally pauses as profit taking kicks in
Cardano (ADA) faces a mild pullback, trading below $0.220 on Monday after a skyrocketing 29% rally in the previous week. On-chain and derivatives data turn slightly bearish as traders appear to take profits following ADA’s massive gains.
Mon, Aug 24
Pi Network Price Forecast: PI struggles below $0.10 amid Testnet’s upgrade to Protocol 27
Pi Network (PI) trades in the red on Monday, easing after a gain of over 6% last week. Pi Core Team released Protocol 27 on Pi Testnet on Saturday, opening the door to new smart contract authentication capabilities.
Mon, Aug 24
