2023-09-26 09:38

Market Update - 26 September 2023 USD/CHF extends the gains to a five-month high amid market caution ahead of US data. US bond yields are improved due to the Fed’s hawkish stance, strengthening the US Dollar (USD). SNB’s surprising decision to halt the rate-hiking cycle weakened the Swiss Franc (CHF). (FXStreet) The index extends the march north past the 106.00 mark. Higher US yields continue to underpin the rally in the dollar. US housing data, Consumer Confidence, Fed’s Bowman next on tap. The greenback, in terms of the USD Index (DXY), adds to the ongoing rally and surpasses the 106.00 hurdle to print new 2023 peaks on turnaround Tuesday. (FXStreet) USD/CAD posts modest gains amid the USD demand and a decline in oil prices. The pair holds below the 50- and 100-hour EMAs. Relative Strength Index (RSI) is located in the 40-60 zone, indicating a non-directional movement. The key resistance level for the pair is seen at the 1.3505-1.3515 region; 1.3443 acts as an initial support level. (FXStreet) EUR/USD reverses toward 1.0600, recovering from intraday losses. ECB President Christine Lagarde has emphasized that interest rates will remain restrictive for as long as necessary. Investors adopt caution ahead of upcoming economic data releases, seeking inflationary pressures in both economies. 10-year US bond yield has risen to 4.56%, boosting the US Dollar (USD). (FXStreet) GBP/USD loses momentum around 1.2200 amid a rally of the USD. The hawkish comments from the Federal Reserve (Fed) lift the US Dollar against GBP. UK Gross Domestic Product (GDP) Q2, US Core Personal Consumption Expenditure (PCE) Price Index will be the highlight this week. (FXStreet) USD/JPY trades around an 11-month high on the back of robust growth in US Dollar (USD). Investors are pricing in the Fed’s hawkish stance on interest rates trajectory. 10-year US bond yield has risen to 4.56%, the highest level since October 2007. Japanese Finance Minister Shunichi Suzuki emphasized that the country has to choose between stimulating consumption or promoting wage growth. (FXStreet) EUR/GBP extends losses following the ECB President Christine Lagarde’s speech at the European Parliament. ECB’s interest rates will remain restrictive for as long as necessary. Investors await the Eurozone’s HICP, seeking insights into the inflationary pressures in the bloc. (FXStreet) USD/MXN attracts some buyers on Tuesday amid the USD demand. Mexico’s headline inflation came in at 4.64% for the first half of September from 4.64% at the end of August. Minneapolis Federal Reserve Bank President said he sees one more rate hike this year. Market players will closely monitor Banxico interest rate decision, US Core Personal Consumption Expenditure (PCE) Price Index this week. (FXStreet) AUD/USD continues to find support near 0.6400, though remains confined in a familiar range. The USD stands by the YTD peak amid the Fed's hawkish outlook and caps gains for the pair. Worries about a property crisis in China also hold back the Aussie bulls from placing fresh bets. (FXStreet) USD/INR scales higher for the second straight day and touches a multi-day top on Tuesday. The technical setup warrants some caution for bulls and before positioning for further gains. Any corrective decline towards the 83.00 mark could now be seen as a buying opportunity. (FXStreet) Crude oil prices recover some of the intraday losses after reaching a two-week lowest level. Investors expect that improved oil prices will drive an increase in US crude oil production despite the reduction in rig count. US bond yields are improved on the Fed’s hawkish stance, strengthening the US Dollar (USD). (FXStreet) Prices of natural gas added to Friday’s uptick at the beginning of the week against the backdrop of declining open interest and volume. That said, further upside now appears unlikely, giving way to further range bound trade in the very near term and with initial contention around the $2.60 region per MMBtu. (FXStreet) Gold price drops to over a one-week low and seems vulnerable to extending its descending trend. The Fed's hawkish outlook pushes the US bond yields higher and exerts pressure on Gold price. The US Dollar sits near the YTD peak and is seen as another factor undermining the XAU/USD. (FXStreet) Source: FXStreet Disclaimer: This information does not represent a BUY or SELL recommendation on the stock covered. Traders and Investors are encouraged to do their own analysis on stocks instead of blindly following any Trading calls raised by various parties on the Internet.

2023-09-25 09:46

Market Update - 25 September 2023 USD/CAD trades sideways near 1.3476 amid the USD weakness. Canadian Retail Sales for July rose by 0.3% vs. 0.1% prior; Core Retail Sales climbed by 1.0% vs. -0.7% prior. US S&P Global Manufacturing PMI showed an ongoing contraction in the manufacturing sector's business activity. The US Core Personal Consumption Expenditure (PCE) Price Index will be a closely watched event. (FXStreet) USD/JPY refreshes YTD top during the Asian session on Monday, albeit lacks follow-through. Intervention fears, along with a softer risk tone, underpin the JPY and caps gains for the pair. The Fed-BoJ policy divergence still favours bulls and supports prospects for a further move up. (FXStreet) GBP/JPY lacks any firm intraday direction on Monday and oscillates in a narrow trading band. Intervention fears, China's economic woes benefit the JPY and act as a headwind for the cross. The BoE’s surprise pause contributes to cap, though the BoJ’s dovish stance limits the downside. (FXStreet) USD Index (DXY) hovers below the six-month high before the slew of US economic data. Investors turn cautious ahead of US Core PCE, awaiting further cues on US inflation scenarios. Fed’s hawkish stance could reinforce the Greenback’s strength. US Treasury yields peaked at multi-year highs, supporting the US Dollar (USD). (FXStreet) EUR/USD oscillates in a narrow range on Monday and seems vulnerable to decline further. The Fed’s hawkish outlook continues to underpin the USD and cap the upside for the pair. Looming recession risks and the ECB’s dovish rate hike further seem to weigh on the Euro. (FXStreet) EUR/GBP looks to gain ground above 0.8700 psychological level. Eurozone PMI data provided support for the Euro. BoE’s surprise decision to pause its rate hike cycle has undermined the Pound Sterling (GBP). (FXStreet) USD/CHF climbs to a fresh multi-month peak and draws support from a combination of factors. Bets for more Fed rate hikes continue to push the US bond yields higher and underpin the USD. The SNB's surprise pause continues to weigh on the CHF and supports prospects for further gains. (FXStreet) USD/MXN struggles to gain any meaningful traction and oscillates in a range on Monday. The technical setup supports prospects for some meaningful upside amid a bullish USD. A break below last week's swing low will shift the bias back in favour of bearish traders. (FXStreet) NZD/USD attempts to extend gains due to soft US Dollar (USD). RBNZ’s OCR rate hike is being priced in as the economy appears to be more resilient. Improved US Treasury yields could provide support for the Greenback. (FXStreet) USD/INR catches fresh bids on Monday and draws support from a bullish USD. Neutral oscillators on the daily chart warrant some caution for bullish traders. Any meaningful slide might continue to attract fresh buyers and remain limited. (FXStreet) AUD/USD trades lower near 0.6420 ahead of economic data from both nations. RBA is expected to be dovish on interest rates trajectory; putting pressure on the Aussie pair. The hawkish remarks made by Fed officials could bolster the US Dollar (USD). Investors await the US Core PCE, seeking further cues on the US inflationary pressure. (FXStreet) Gold price remains under pressure as the US economy remains resilient despite higher interest rates. The US economy is comfortably absorbing the consequences of the Fed’s higher interest rates. Fed’s Collins says further policy tightening is not off the table. (FXStreet) Source: FXStreet Disclaimer: This information does not represent a BUY or SELL recommendation on the stock covered. Traders and Investors are encouraged to do their own analysis on stocks instead of blindly following any Trading calls raised by various parties on the Internet.

2023-09-22 09:21

Market Update - 22 September 2023 AUD/USD snaps a two-day losing streak, trading higher near 0.6440 during the European session on Friday. The pair is receiving upward support as the US Dollar (USD) retraces a portion of its intraday gains. (FXStreet) USD/CAD halts a two-day winning streak, trading sideways near 1.3470 during the European session on Friday. The pair experienced downward pressure as the US Dollar (USD) trimmed a part of intraday gains, coupled with the upbeat Crude oil prices. (FXStreet) The EUR/GBP cross attracts some dip-buying near the 0.8660 region on Friday and sticks to its modest intraday gains through the early part of the European session. Spot prices currently trade around the 0.8680 area, up for the third straight day and fifth in the previous six, albeit lack follow-through and remain below a two-month peak touched on Thursday. (FXStreet) USD/JPY retraces the losses registered on Thursday on the back of a policy rate decision by the Bank of Japan (BoJ). As widely expected, BoJ maintained its current interest rates at -0.1%. The spot price is trading higher around 148.30 during the early trading hours of the European session on Friday. (FXStreet) The EUR/USD pair remains under selling pressure and trades in negative territory for the fourth straight day during the early European session on Friday. The major pair currently trades near 1.0653, losing 0.06% on the day. (FXStreet) The GBP/USD pair struggles to capitalize on the previous day's modest recovery from the 1.2235 area, or its lowest level since late March and meets with a fresh supply during the Asian session on Friday. Spot prices currently trade near the 1.2280-1.2275 region, down for the third successive day, and seem vulnerable to decline further. (FXStreet) The USD/INR pair comes under some renewed selling pressure on Friday and touches a nearly three-week low, around the 82.80-82.75 region during the Asian session. Spot prices, however, manage to trim a part of the intraday losses and currently trade just below the 83.00 round figure, still down over 0.20% for the day. (FXStreet) The GBP/JPY cross surges to 181.80 after accelerating the downside momentum to a seven-week low of 180.70 during the Asian session on Friday. The rebound of the cross is bolstered by the Bank of Japan (BoJ) interest rate decision after central bank policymakers decided to maintain the current monetary policy unchanged. (FXStreet) EUR/JPY attempts to recover from the previous day’s losses after the interest rate decision by the Bank of Japan (BoJ). As widely expected, BoJ maintained its current interest rates at -0.1%. The spot price is trading higher around 157.60 during the Asian session on Friday. (FXStreet) Western Texas Intermediate (WTI), the US crude oil benchmark extends gains on the second day, trading higher around $90.00 per barrel during the Asian session on Friday. (FXStreet) Natural gas prices dropped for the second consecutive session on Thursday. The daily decline was on the back of increasing open interest, which suggests that further retracement appears in the pipeline with the next support emerging at the monthly low around the $2.50 level per MMBtu (September 7). (FXStreet) Silver builds on the previous day's solid recovery move from the $22.80 area, or the weekly low, and gains strong follow-through traction on Friday. This marks the third successive day of a positive move, also the fifth in the previous six, and lifts the white metal to a two-and-half-week peak, around the $23.75 region during the early part of the European session. (FXStreet) Gold price (XAU/USD) struggles to find a direction as investors remain uncertain about the interest rate peak after the Federal Reserve’s (Fed) monetary policy announcement on Wednesday. The precious metal trades inside Thursday’s range as the upside is restricted due to the US economic resilience, which has been keeping expectations alive over one more interest rate increase from the Fed. On the downside, Gold also looks well supported due to consistently falling core inflation. (FXStreet) Source: FXStreet Disclaimer: This information does not represent a BUY or SELL recommendation on the stock covered. Traders and Investors are encouraged to do their own analysis on stocks instead of blindly following any Trading calls raised by various parties on the Internet.

2023-09-21 09:20

Market Update - 21 September 2023 EUR/USD extends the losses for the third successive day. Spot price is trading lower around 1.0640 during the Asian session on Thursday. As expected, the US Federal Reserve (Fed) chose to maintain the current benchmark policy rates at 5.5% during the meeting convened on Wednesday. (FXStreet) The USD/JPY pair pulls back after hitting a fresh YTD peak, around the 148.45 region during the Asian session this Thursday, albeit lacks follow-through and manages to hold above the daily trough. Spot prices currently trade around the 148.25 area, down less than 0.10% for the day, and seem poised to appreciate further. (FXStreet) GBP/USD expands losses on the second successive day, trading lower around 1.2320 during the Asian session on Thursday. US Federal Reserve’s (Fed) hawkish stance exerts downward pressure on the pair. As anticipated, the Fed chose to keep the existing benchmark policy rates unchanged at 5.5% during the meeting held on Wednesday. (FXStreet) The USD/CHF pair catches aggressive bids during the early part of the European session on Thursday and rallies to its highest level since mid-June after the Swiss National Bank (SNB) announced its policy decision. Spot prices currently trade around mid-0.9000s, with bulls now looking to build on the momentum further beyond a technically significant 200-day Simple Moving Average (SMA) before placing fresh bets. (FXStreet) AUD/USD extends the losses on the second day, trading sideways around 0.6410 during the European session on Thursday. The US Federal Reserve’s (Fed) hawkish stance on interest rates trajectory exerts pressure on the pair. (FXStreet) The USD/CAD pair trades in positive territory for the second straight day during the early European session on Thursday. The pair's recovery is bolstered by the Federal Reserve's (Fed) hawkish stance after holding the interest rate unchanged in its policy meeting on Wednesday. Additionally, a decline in oil prices weighs on the commodity-linked Loonie as the country is the leading oil exporter to the United States. The pair currently trades near 1.3495, gaining 0.26% on the day. (FXStreet) The NZD/USD pair attracts fresh sellers following an intraday uptick to mid-0.5900s and drops to a fresh daily low during the early part of the European session on Thursday. Spot prices, however, manage to defend the 0.5900 round figure, though the fundamental backdrop supports prospects for an extension of the retracement slide from a nearly three-week high, around the 0.5985 region touched on Wednesday. (FXStreet) The USD/CHF pair gains momentum near the 0.9000 psychological mark during the early European session on Thursday. Market players await the Swiss National Bank (SNB) interest rate decision later in the day. SNB is expected to raise additional interest rates by 25 basis points (bps) from 1.75% to 2% on Thursday. However, if SNB offers hints about its last hike, the monetary policy divergences between the US and Switzerland might continue to drive the pair higher. (FXStreet) The USD/INR pair attracts fresh buyers near the 82.90 region on Thursday and reverses a part of the previous day's downfall from the 83.30 area, or over a one-month top. Spot prices currently trade just above the 83.00 mark and remain well within the striking distance of the all-time peak touched on August 15. (FXStreet) USD/MXN continues to gain on the second successive day, trading higher around 17.1340 during the Asian session on Thursday. As anticipated, the US Federal Reserve (Fed) opted to keep the existing benchmark policy rates unchanged at 5.5% during the meeting held on Wednesday. (FXStreet) The GBP/JPY cross comes under some renewed selling pressure during the Asian session on Thursday and drops to the 182.40 area, or its lowest level since August 9 in the last hour. The British Pound (GBP) continues with its relative underperformance in the wake of expectations for an imminent pause in the Bank of England's (BoE) rate-hiking cycle, which, in turn, is seen weighing on the GBP/JPY cross. Data released from the UK on Wednesday showed that the annual headline CPI fell to 6.7% in August from 6.8% in July, defying the consensus forecast for a rise to 7%.. (FXStreet) The AUD/USD pair extends the previous day's sharp retracement slide from levels just above the 0.6500 psychological mark, or a nearly three-week high, and continues losing ground through the Asian session on Thursday. The downward trajectory drags spot prices to the lower end of the weekly range, around the 0.6420-0.6415 region, and is sponsored by sustained US Dollar (USD) buying. (FXStreet) WTI prices extended the rejection from the 2023 high, breaking below the key $90.00 barrier per barrel on Wednesday. The downtick was on the back of shrinking open interest and volume and suggests that a sustained decline appears not favoured for the time being. On the downside, there is a provisional support at the 55-day SMA, today at $81.87. (FXStreet) Wednesday’s downtick in prices of natural gas was on the back of rising open interest, which suggests that extra downside appears likely in the very near term. In the meantime, the weekly low around the $2.60 region per MMBtu (September 18) initially emerges as an interim support for the time being. (FXStreet) Gold price hovers around $1,930 during the early trading hours of the European session on Thursday. Investors seem to shift their focus on upcoming US data after the US Federal Reserve’s (Fed) decision on policy rates. (FXStreet) Silver attracts some dip-buying in the vicinity of the $23.00 mark on Thursday and climbs to the top end of its intraday trading range during the first half of the European session. The white metal is currently placed around the $23.25 region and for now, seems to have stalled its retracement slide from the $23.60 area, or a two-week high touched on Wednesday. (FXStreet) Source: FXStreet Disclaimer: This information does not represent a BUY or SELL recommendation on the stock covered. Traders and Investors are encouraged to do their own analysis on stocks instead of blindly following any Trading calls raised by various parties on the Internet.

2023-09-20 09:56

Market Update - 20 September 2023 EUR/USD attempts to recover from the previous day’s losses, hovering around 1.0680 during the Asian session on Wednesday. The pair remains sideways due to the market caution ahead of the interest rate decision by the US Federal Reserve (Fed), scheduled for release later in the North American session. (FXStreet) The USD/JPY pair gains some follow-through positive traction for the second successive day on Wednesday and touches a fresh high since November 2022 during the early part of the European session. Spot prices, however, retreat a few pips in the last hour and currently trade just above the 148.00 round-figure mark, up around 0.15% for the day, as traders start repositioning for the highly-anticipated FOMC monetary policy decision. (FXStreet) The GBP/USD pair extends the previous day's rejection slide from the vicinity of a technically significant 200-day SMA, around the 1.2425-1.2430 region, and remains on the defensive through the Asian session on Wednesday. Spot prices currently trade below the 1.2400 round-figure mark, well within the striking distance of the lowest level since early June. (FXStreet) USD/CHF snaps the previous day’s gains, trading lower around 0.8980 during the European session on Wednesday. The US Dollar (USD) could experience the upward support driven by the improved US Treasury yields. The US 10-year Treasury yield stands at 4.35% by the press time, below its highest level in 16 years. (FXStreet) AUD/USD extends gains for the third consecutive day, trading higher around 0.6460 during the European session on Wednesday. The pair is experiencing upward support possibly due to the market caution ahead of the release of the interest rate decision by the US Federal Reserve (Fed). (FXStreet) The USD/CAD pair struggles to capitalize on the previous day's late rebound from the 1.3380-1.3375 region, or its lowest level since August 10 and seesaws between tepid gains/minor losses through the early European session on Wednesday. Spot prices remain below a technically significant 200-day Simple Moving Average (SMA) and currently trade around mid-1.3400s, nearly unchanged for the day as traders keenly await the outcome of the highly-anticipated FOMC policy meeting. (FXStreet) The NZD/USD pair trades sideways in a narrow range of 0.5932-0.5944 in the European session. The Kiwi asset struggles for a direction as investors await the interest rate decision from the Federal Reserve (Fed), which is expected to remain unchanged. (FXStreet) EUR/GBP recovers from the previous day’s losses, trading near 0.8650 during the early trading hours of the European session on Wednesday. The pair gained strength after the release of downbeat inflation data from the United Kingdom (UK) and the solid figures of commodity inflation from Germany. (FXStreet) The GBP/JPY cross loses momentum during the early European session on Wednesday. The British Pound (GBP) faces some selling pressure following the softer-than-expected economic data from the UK. The market mood remains cautious as investors await the Bank of England (BoE) interest rate decision on Thursday. The cross currently trades near 182.65, losing 0.31% on the day. (FXStreet) The USD/JPY pair trades sideways in the 147.70-147.85 region during the early European session on Wednesday. At the press time, the major pair is trading at 147.83, losing 0.01% on the day. The market turns cautious ahead of the key Federal Reserve (Fed) interest rate decision on Wednesday in the North American session. (FXStreet) USD/INR attempts to snap the winning streak that began on September 12, trading lower around 83.20 during the Asian session on Wednesday. However, the pair experienced upward support driven by the higher US Treasury yields. The pair could break the intraday high at 83.29, followed by the 83.50 psychological level. However, market participants expect the Reserve Bank of India (RBI) to intervene by selling US Dollar (USD), attempting to slow down the USD rally. (FXStreet) The USD/CNH pair edges higher for the third successive day on Wednesday and climbs to over a one-week high, around the 7.3125 region during the Asian session. The technical setup, meanwhile, seems tilted in favour of bullish traders and supports prospects for an extension of the recent bounce from the 7.2595 region, or a nearly two-week low touched last Friday. (FXStreet) The USD/MXN remains on the defensive through the Asian session on Wednesday and is currently placed around the 17.0760-17.0755 area, representing the 61.8% Fibonacci retracement level of the rally from the August monthly swing low. Spot prices, however, manage to hold above a two-week low touched on Monday and the 50-day Simple Moving Average (SMA), pegged near the 17.0235 region, which should act as a key pivotal point ahead of the highly-anticipated FOMC monetary policy decision. (FXStreet) WTI prices closed with market losses after hitting new yearly peaks on Tuesday. The daily retracement was accompanied by shrinking open interest, which removes some strength from further downside. However, the strong increase in volume could also reinforce the case for further selling pressure in the very near term. (FXStreet) Natural gas prices extended the weekly recovery on Tuesday, flirting at the same time with the key 200-day SMA near the $2.90 region. The uptick was on the back of shrinking open interest and is indicative that a potential knee-jerk could be in the offing in the very near term. In the meantime, the $3.00 region per MMBtu remains a key resistance area for the time being. (FXStreet) Gold price (XAU/USD) consolidates around $1,930 during the Asian trading hours on Wednesday. Market players prefer to wait on the sidelines ahead of the Federal Reserve (Fed) Interest Rate Decision and FOMC Press Conference. These events could trigger the volatility in the market. (FXStreet) Silver reverses modest intraday losses to the $23.00 neighbourhood and turns neutral during the early European session on Wednesday, albeit lacks follow-through. The white metal currently trades around the $23.20 area, unchanged for the day, and for now, seems to have stalled its retracement slide from a nearly two-week high touched on Tuesday. (FXStreet) Source: FXStreet Disclaimer: This information does not represent a BUY or SELL recommendation on the stock covered. Traders and Investors are encouraged to do their own analysis on stocks instead of blindly following any Trading calls raised by various parties on the Internet.

2023-09-19 09:18

Market Update - 19 September 2023 EUR/USD snaps the two-day winning streak, trading lower around 1.0680 during the Asian session on Tuesday. The pair is facing downward pressure due to the market caution ahead of the US Federal Reserve’s (Fed) policy decision. (FXStreet) The USD/JPY pair attracts some dip-buying on Tuesday, albeit struggles to capitalize on the modest uptick and remains below its highest level since November 2022 touched last week. Spot prices trade around the 147.70 region, up less than 0.10% for the day, as traders keenly await this week's key central bank event risks. (FXStreet) The GBP/USD pair continues with its struggle to gain any meaningful traction and languishes near its lowest level since early June touched on Monday. Spot prices currently trade around the 1.2380-1.2375 region and seem vulnerable to prolonging the recent downward trajectory witnessed over the past two months or so. (FXStreet) USD/CHF recovers from the previous day’s losses amid investors caution ahead of the interest rate decisions from the US Federal Reserve (Fed) and Swiss National Bank (SNB). The spot price trades around 0.8980 during the early trading hours in the European session on Tuesday. (FXStreet) AUD/USD continues to move sideways amid investors turn cautious ahead of the US Federal Reserve (Fed) policy decision. The spot price trades around 0.6430 during the Asian session on Tuesday. (FXStreet) The USD/CAD pair remains under selling pressure below the 1.3500 mark during the early European session on Tuesday. A surge in oil price lift the commodity-linked Loonie against the US Dollar (USD). At the press time, the pair is losing 0.07% on the day to trade at 1.3476. Market players await the Canadian Consumer Price Index for August ahead of the highly-anticipated FOMC monetary policy meeting on Wednesday. (FXStreet) The EUR/GBP cross reverses an early European session dip to the 0.8620 region and climbs back closer to its highest level since August 11 touched this Tuesday. Spot prices currently trade around the 0.8630-0.8635 zone and look to build on the recent strong gains registered over the past two days. (FXStreet) The GBP/JPY cross oscillates in a narrow range below the 183.00 area during the early European session on Tuesday. Markets participants await the Bank of England (BoE) interest rate decision on Thursday ahead of the Bank of Japan (BoJ) meeting on Friday. These key events could trigger the volatility in the market. The cross currently trades around 182.91, up 0.07% on the day. (FXStreet) The USD/INR pair oscillates in a range around the 83.20-83.25 area during the Asian session on Tuesday and remains well within the striking distance of over a one-month high touched the previous day. The technical setup, meanwhile, still seems tilted in favour of bullish traders and suggests that the path of least resistance for spot prices is to the upside. (FXStreet) USD/MXN moves sideways around 17.1350 during the Asian session on Tuesday, as it attempts to continue the downward trend from the previous day's gains. However, investors caution ahead of the US Federal Reserve’s (Fed) policy decision to put pressure on the Mexican Peso (MXN). (FXStreet) The AUD/JPY cross remains confined around 94.95-95.20 in a narrow trading band during the Asian trading hours on Tuesday. The cross currently trades near 94.98, losing 0.03% on the day. (FXStreet) Daily USD/ZAR price action has changed little since last week as bulls look to breach the medium-term trendline resistance (black) that coincides with the 19.0000 psychological handle. There may be a developing ascending triangle at play (dashed black line) that could result in subsequent upside. Fundamental factors above will be the likely catalyst if this is to occur and will require a hawkish slant to the Fed over the SARB. Currently, recent doji closes indicate hesitancy from USD/ZAR traders who are clearly on edge ahead of a big data week. (DailyFX) Western Texas Intermediate (WTI), the US crude oil benchmark, is trading higher around $91.20 during the European session on Tuesday. WTI prices are continuing the winning streak that began on September 8. (FXStreet) Prices of natural gas started the week on a strong foot, setting aside Friday’s pullback. Monday’s uptick was amidst shrinking open interest and this removes strength from a potential sustained recovery in the very near term. So far, the $3.00 mark per MMBtu remains a key hurdle for the time being. (FXStreet) Gold price (XAU/USD) consolidates its recent gains above the $1,900 mark during the Asian session on Tuesday. Traders prefer to wait on the sidelines ahead of the major central banks' monetary policy meeting. The Federal Reserve (Fed), the Bank of England (BoE), and the Bank of Japan (BoJ) will announce the interest rate decision later this week and these events could trigger the volatility in the market. At the press time, gold price is losing 0.06% on the day to trade at $1,932. (FXStreet) Silver reverses modest intraday losses to the $23.15 area and climbs back closer to a nearly two-week high touched this Tuesday. The white metal now trades around the $23.25 region during the early European session, nearly unchanged for the day. (FXStreet) Source: FXStreet, DailyFX Disclaimer: This information does not represent a BUY or SELL recommendation on the stock covered. Traders and Investors are encouraged to do their own analysis on stocks instead of blindly following any Trading calls raised by various parties on the Internet.