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Forex Today: US Dollar retreats, Gold renews record-high as markets await US data
Here is what you need to know on Wednesday, February 5:
After weakening against its major rivals on improving risk mood and disappointing US data on Tuesday, the US Dollar (USD) struggles to hold its ground early Wednesday. Later in the session, the US economic calendar will feature ADP...
Feb 5, 2025
Crypto AI investors dump $2.5B as China investigates NVIDIA, Google, amid Trump tariffs
The artificial intelligence (AI) cryptocurrency sector nosedived on Tuesday, posting an 8.5% decline that wiped out more than $2.5 billion in market capitalization.
Feb 5, 2025
EUR/USD lacks firm intraday direction, stuck in a range around 1.0375-1.0380 zone
The EUR/USD pair struggles to capitalize on this week's solid recovery from the 1.0200 neighborhood, or the lowest level since January 13, and oscillates in a range near the weekly top touched earlier this Wednesday.
Feb 5, 2025
Japanese Yen rallies on strong wage growth data; USD/JPY slumps to mid-153.00s
The Japanese Yen (JPY) attracts fresh buyers after data released during the Asian session on Wednesday showed a rise in Japan's real wages, which reaffirms bets that the Bank of Japan (BoJ) will raise interest rates again.
Feb 5, 2025
USD/CAD consolidates above 1.4300 mark; upside potential seems limited
USD/CAD struggles to gain any meaningful traction and hangs near a two-week trough.
Subdued Oil prices and the BoC’s dovish outlook undermine the Loonie and cap the pair.
The USD languishes near the weekly low and further acts as a headwind for spot prices.
Feb 5, 2025
GBP/USD extends recovery but remains on shaky ground
GBP/USD climbed 0.6% on Tuesday as tariff threats ease.
President Trump’s trade war threats are fading into the background.
Data remains mid-tier until BoE’s rate call on Thursday and Friday’s US NFP.
Feb 5, 2025
Ethereum Price Forecast: ETH drops below $2,800 amid gas limit increase above 30 million units
Ethereum price today: $2,670
Ethereum validators reached a consensus to increase the network's gas limit above 30 million units to improve scalability.
Ethereum buying activity has increased since the market crash, with ETH ETFs taking in $83 million and exchange reserves plunging by over 250,000...
Feb 5, 2025
EUR/USD bounces as market pressures abate
EUR/USD gained 0.8% on Tuesday as trade wars turn hypothetical.
President Trump’s tariff bluffs have been called by the markets after several delays.
European economic data remains thin this week.
Feb 5, 2025
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC, ETH and XRP momentum indicators hint at correction
Bitcoin (BTC) and Ethereum (ETH) are approaching their crucial support levels on Monday; a firm close below would lead to a correction.
Jan 27, 2025
Gold price retreats further from multi-month top set on Friday on stronger USD
Gold price (XAU/USD) attracts some selling at the start of a new week and moves away from the vicinity of the all-time peak, or its highest level since late October, around the $2,786 region touched on Friday.
Jan 27, 2025
China announces new measures to promote equity index investments
On Sunday, China announced new measures to boost the development of index investment products, its latest effort to revive the ailing equity market, per Bloomberg.
The China Securities Regulatory Commission (CSRC) stated that the government aims to achieve a significant increase in the scale...
Jan 27, 2025
Bitcoin eyes return above $109,000, unpacking the effect of Donald Trump’s first week on crypto
Bitcoin crosses $107,000 on Friday, eyes return to all-time high above $109,000.
US President Trump made pro-crypto appointments, launched a Solana token and ordered a crypto working group to draft regulations.
Reuters report reveals despite Bitcoin’s break above the $100,000 milestone and Trump’s
Jan 26, 2025
USD/JPY rebounds to near 156.50 as BoJ refrains from committing specific rate hike path
The USD/JPY recovers Bank of Japan’s (BoJ) interest rate hike-inspired losses and rises to near 156.60 in Friday’s North American session.
Jan 26, 2025
Explosive upside convexity in Silver markets remains underpriced – TDS
Importantly, new ATHs in gold could finally catalyze a breakout in silver markets, where we see unique implications from the dislocations in metals markets associated with tariff threats. The market is sleepwalking into a #silversqueeze, TDS’ Senior Commodity Strategist Daniel Ghali notes.
Jan 26, 2025
EUR/USD Price Analysis: Pair climbs above 1.0485 as bullish momentum strengthens
The EUR/USD pair ended the week on a bullish note, climbing 0.66% to settle at 1.0485 on Friday. This move signals a continuation of its recovery, following recent consolidation within a relatively narrow trading range.
Jan 26, 2025
Bitcoin Weekly Forecast: BTC holdings of large investors surges as Trump takes the Oval Office
Bitcoin (BTC) trades in the green and hovers above $105,000 on Friday after hitting a new all-time high of $109,588 on Monday.
Jan 24, 2025
EUR/JPY surges to near 153.50 as Eurozone PMI returns back in black
The EUR/JPY pair rises sharply to near 153.50 in Friday’s European session.
Jan 24, 2025
Gold extends rally as Trump casts doubts on China’s tariffs
Gold’s price (XAU/USD) pops higher and trades at $2,774 at the time of writing on Friday after US President Donald Trump surprised with comments the previous day casting doubts on the application of tariffs on China.
Jan 24, 2025
US Dollar Index (DXY) slides to mid-107.00s, fresh monthly low on Trump's tariff remarks
USD attracts sellers for the second straight day amid bets for additional rate cuts by the Fed.
Jan 24, 2025
GBP/USD rises to near 1.2400 as Trump asks Fed for rate cuts
GBP/USD extends its gains for the second successive day, trading around 1.2400 during the Asian hours on Friday. The pair’s upside could be attributed to the remarks from US President Donald Trump on late Thursday.
Jan 24, 2025
