FXStreet
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Gold starts the week lower as traders await Fed verdict
Gold (XAU/USD) kicks off the week on a bearish note as Federal Reserve (Fed) interest rate hike expectations dominate market sentiment ahead of the two-day monetary policy meeting starting on Tuesday.
Mon, Sep 14
Federal Reserve: Rate hike path and data support – Deutsche Bank
Deutsche Bank’s Jim Reid and team say the Fed’s decision on Wednesday is the main market event, with their economists expecting a 25bp hike to 3.75%-4.00% and now forecasting 75bps of hikes over the next seven months.
Mon, Sep 14
Crypto Today: Bitcoin, Ethereum, XRP recover ahead of US Senate vote on CLARITY Act
Bitcoin (BTC) edges higher, trading near $77,884 as of Monday, in tandem with broader gains across the cryptocurrency market. Ethereum (ETH) and Ripple (XRP) follow Bitcoin’s neutral-to-bullish trajectory, holding key support levels at $2,521 and $1.38, respectively.
Mon, Sep 14
US Dollar: Fed hike expectations and limited gains – MUFG
MUFG’s Lee Hardman notes that the US Dollar (USD) has strengthened only modestly even as markets price in a Fed rate hike at this week’s FOMC meeting.
Mon, Sep 14
ECB’s Schnabel: Recent energy-price developments have been quite concerning
European Central Bank (ECB) Executive Board member Isabel Schnabel said recent energy-price developments have been "quite concerning" as officials consider further interest-rate increases after last week’s move, Bloomberg reported.
Mon, Sep 14
AUD/USD Price Forecast: Aussie bears aim for a key support area around 0.7110
The Australian Dollar (AUD) resumed its downtrend against the US Dollar (USD) on Monday, weighed by the risk-off market mood, as Oil prices consolidate above $100, and rising bets that the Federal Reserve (Fed) will hike interest rates on Wednesday.
Mon, Sep 14
Brent jumps above $104 as fresh supply threats rattle Oil markets
Brent Oil gains on Monday and trades around $104.20 at the time of writing, up 2.49% on the day. Oil prices benefit from a renewed geopolitical risk premium as tensions in the Middle East revive concerns over potential disruptions to energy supplies.
Mon, Sep 14
Bitcoin Price Forecast: BTC recovery faces headwinds from ETF outflows and elevated Fed rate-hike bets
Bitcoin (BTC) recovers slightly, trading above $78,200 at the time of writing on Monday after declining over 4% last week.
Mon, Sep 14
Fed to raise interest rates to 3.75%-4.00% on September 16 – Reuters poll
According to a Reuters poll, the survey on September 9 showed that 86 of 101 economists expect the Federal Reserve (Fed) to hike interest rates by 25 basis points (bps) to 3.75%-4.00% on September 16. This is a dramatic shift from 65 of 93 economists expecting a hold in the previous poll.
Mon, Sep 14
USD/CAD Price Forecast: US Dollar gains momentum and targets 1.3940 area
US Dollar (USD) appreciates for the fourth consecutive day against the Canadian Dollar (CAD) on Monday, as rising bets of a Federal Reserve (Fed) rate hike on Wednesday offset the traditional positive impact of higher Oil prices on the Canadian Dollar.
Mon, Sep 14
British Pound: Downside pressure persists against US Dollar - UOB
UOB’s Quek Ser Leang notes GBP/USD rebounded from 1.3479 to close at 1.3535 after an overdone drop, with intraday price action expected to consolidate between 1.3485 and 1.3540.
Mon, Sep 14
Japanese Yen: BoJ guidance crucial for further gains against US Dollar – OCBC
OCBC strategist Christopher Wong notes that JPY has extended gains, pushing USD/JPY near recent lows despite firmer Fed hike pricing and higher US front-end yields. Markets are positioned for a 25bp Bank of Japan (BoJ) hike, with speculative positioning now net long JPY.
Mon, Sep 14
WTI extend opening gains amid fears of further energy supply risks
West Texas Intermediate (WTI), futures on NYMEX, extends its opening gains in the European trading session on Monday, trading almost 3% higher slightly above $99.50.
Mon, Sep 14
Swiss Franc nears yearly lows as Fed rate hike bets boost US Dollar
The Swiss Franc (CHF) keeps trading lower against the US Dollar (USD) on Monday, as investors brace for a quarter-point interest rate hike by the Federal Reserve (Fed) later in the week, and Oil prices consolidate above $100.00.
Mon, Sep 14
Silver price today: Silver falls, according to FXStreet data
Silver prices (XAG/USD) fell on Monday, according to FXStreet data. Silver trades at $63.22 per troy ounce, down 2.14% from the $64.60 it cost on Friday.
Mon, Sep 14
Brent: Supply risks keep prices elevated – Danske Bank
Danske Bank’s Danske Research Team highlights a sharp move higher in Brent as escalating Middle East tensions threaten key supply routes. The report notes Brent’s jump above USD 107/bbl and warns that closure of Saudi Arabia’s East-West pipeline could endanger up to 4% of global Oil supply.
Mon, Sep 14
Euro advances against Japanese Yen despite BoJ rate hike expectations
EUR/JPY edges higher on Monday and trades around 178.40 at the time of writing, up 0.12% on the day. The pair remains supported despite growing expectations of further monetary tightening by the Bank of Japan (BoJ), while the European Central Bank (ECB) policy outlook remains uncertain.
Mon, Sep 14
Japanese Yen weakens as rising risk aversion lifts US Dollar
USD/JPY rebounds after posting modest losses the previous day, trading around 154.60 during European hours on Monday. The pair appreciates as the US Dollar (USD) gains amid rising oil prices and growing Federal Reserve (Fed) rate hike bets.
Mon, Sep 14
Euro: Further downside favoured against US Dollar - ING
ING’s Francesco Pesole highlights that EUR/USD has broken below 1.1600, with the bank maintaining a downside bias consistent with its constructive Dollar view.
Mon, Sep 14
GBP/USD Price Forecast: Bears flirt with monthly low, near 1.3480-1.3470 confluence
The GBP/USD pair comes under heavy selling at the start of a new week and drops to the lower end of its monthly range, near the 1.3480 region during the first half of the European session.
Mon, Sep 14
