The USDJPY, GBPUSD and the USDCHF have each seen up and down action today. For the USDJPY and GBPUSD, the price action traded above and below the 100 hour MA. Both also used that MA as either support (for the USDJPY) or resistance (for the GBPUSD). That helps to increase the MAs importance going forward
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High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Oil prices edged higher on Thursday due to supply concerns triggered by escalating geopolitical tensions amid the ongoing war between Russia and Ukraine. Brent crude futures for January rose 28 cents, or 0.4%, to $73.09. U.S. West Texas Intermediate crude futures for January rose 28 cents, or 0.4%, at $69.03. Ukraine fired a volley of
Yen fell broadly during Asian session today, reversing all of this week’s earlier gains. Market sentiment has calmed somewhat despite the escalation in Russia’s war in Ukraine, as there is no clear intensification toward a nuclear conflict. US Treasury yields have stabilized after yesterday’s decline, and Gold’s rebound has also stalled. Attention now turns to
Nvidia shares moved lower Wednesday evening despite another beat-and-raise quarter. Simply put, the leading maker of AI chips again fell victim to the curse of high expectations. That’s not a concern to us, though, because Nvidia’s underlying fundamentals and long-term outlook appear to be as healthy as ever. Revenue surged 94% year over year to
The Japanese Yen strengthens against the USD, though it lacks bullish conviction amid BoJ uncertainty. The upbeat market mood and elevated US bond yield might contribute to capping the lower-yielding JPY. Traders look at Thursday’s US macro data and the Fed speaks ahead of Japan’s National CPI on Friday. The Japanese Yen (JPY) edges higher
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Headlines: Markets: USD leads, JPY lags on the day European equities higher; S&P 500 futures up 0.2% US 10-year yields up 5.1 bps to 4.429% Gold down 0.1% to $2,628.43 WTI crude up 0.5% to $69.76 Bitcoin up 1.4% to $93,583 The dollar is starting to perk up again in trading today, following a bit
Gold December futures contracts at MCX opened flat today at Rs 75,537 per 10 grams, down by 0.07% or Rs 50, while silver December futures contracts were trading at Rs 89,752/kg, down by almost 1% or Rs 868. Gold prices have risen by Rs 2,300/10 grams in the last week, while silver prices surged by
Sterling posted modest gains today after the UK reported stronger-than-expected rebound in headline inflation for October. More importantly, both core CPI and services price growth also increased, indicating that underlying inflation is gaining momentum. This resurgence in inflation diminishes the likelihood of BoE implementing another rate cut in December. Market expectations have adjusted accordingly, with
In this article TJX Follow your favorite stocksCREATE FREE ACCOUNT A sign hangs at the entrance of a T. J. Maxx store on February 28, 2024 in Chicago, Illinois. Scott Olson | Getty Images TJX Companies touted a “strong start” to the holiday shopping season on Wednesday, but its shares slid after the fast-growing retailer
How much further can the bounce in Gold prices run? Any way you slice it, this is not the same set-up for flows as a few short months ago, TDS’ Senior Commodity Strategist Daniel Ghali notes. Gold price may continue its downward movement “Pent-up selling activity unleashed by the US elections, resulting in a massive shift from
The USD is tilting lower in the US session and that has the USDCAD and the USDCHF moving below a technical level increasing the bearish bias at least in the short term. For the USDCAD, the price has moved below the 200 hour MA at 1.3977 and also the 2022 high price at 1.3978. Breaking
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
The multi commodity exchange of India (MCX) via its circular announced that it will remain closed for trading in its morning session from 9 am to 5 pm in view of the Maharashtra Assembly Election 2024. However, the exchange will carry out trading in its normal course during its evening session from 5 pm to
The forex markets remain subdued in Asian session, with all major pairs and crosses confined within yesterday’s tight ranges, and many still constrained within last week’s bounds. Among the majors, Australian Dollar is showing slight strength supported by hawkish RBA minutes, followed by Swiss Franc and Canadian Dollar. Meanwhile, Japanese Yen lags as the weakest
Wall Street analysts are showing two cybersecurity stocks some love ahead of their quarterly results. The news Evercore ISI this week raised its price target on Palo Alto Networks to $455 from $395, implying a nearly 18% upside from Monday’s close. The analysts said that recent channel commentary not only “sounded notably more positive” ahead
The Australian Dollar appreciated as the RBA Meeting Minutes emphasized the importance of maintaining a restrictive monetary policy. The PBoC’s Monetary Policy Committee (MPC) decided to maintain the current interest rate at 3.1% for November. The US Dollar steadies as investors anticipate pro-inflationary policies from the incoming Trump administration. The Australian Dollar (AUD) attempts to
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