Yen is encountering renewed selling pressure, particularly against European majors. This weakness is partly attributed to the rising treasury yields that have dampened enthusiasm for the Japanese currency. However, its losses remain contained for the moment. On the other hand, Australian Dollar is seeking to prolong its short-term rally, most notably against New Zealand Dollar.
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The USDCHF is having another up-and-down trading day today with the price trading above and below its near converged 100 and 200-hour moving averages (near 0. 9070). The early US sessions saw the price moving low but was then boosted after the Bank of Canada rate hike. Momentum took the price back above the 100
US Treasury Secretary Yellen spoke in a wide-ranging interview with CNBC on Wednesday. You can find the full transcript here. Some of the highlights: Says I see a path to bringing down inflation while maintaining strong labor market Seeing some signs of easing in labor market We’ll continue to see economic progress over the next
“Amid currency fluctuations, traders and investors are advised to remain cautious while trading in crude oil futures as there could be some volatility in the markets. We are recommending ‘buy on dips’ in crude oil for mid- to long-term as demand is expected to increase for upcoming winter and stormy season ahead,” says Anuj Gupta
Share: USD/CHF shows bullish momentum, targeting the 0.9100 mark with 0.27% gains. RSI and three-day RoC indicators suggest bullish dominance despite sideways movement. Overcoming the 0.9120 hurdles could steer the USD/CHF toward the 0.9147 and 0.9200 landmarks. USD/CHF bounces off the 50-day Exponential Moving Average (EMA) and threatens to claim the 0.9100 figure late after
Australian Dollar is staying generally firm in Asian session today, as supported by hawkish comments from RBA Governor Philip Lowe. More tightening could still be underway after yesterday’s surprised rate hike. Aussie basically shrugged off Weaker than expected Q1 GDP growth. Meanwhile, market reactions to the poor set of trade data from China was surprisingly
Given the last hot CPI report, the BoE is expected to keep raising rates as it combats with one of the highest inflation rates among the majors. The BoJ keeps standing pat with its loose monetary policy that contributed to one of the strongest JPY depreciations in several years. This policy divergence made the GBPJPY
The plunge in the lira to fresh record lows against the dollar is one of the more interesting events in markets this week, considering the lack of appetite as we wait on the Fed next week. USD/TRY has gone parabolic and is up over 7% again today to above 23.00 as the Turkish currency continues
Gold prices were flat on Wednesday as cautious traders awaited the U.S. Federal Reserve’s interest rate decision at its policy meeting next week, although a softer dollar kept the bullion supported. FUNDAMENTALS * Spot gold was little changed at $1,963.83 per ounce by 0027 GMT. U.S. gold futures were listless at $1,980.20. * The dollar
In this article GTLB Follow your favorite stocksCREATE FREE ACCOUNT People celebrate the Gitlab IPO at the Nasdaq, October 14, 2021. Source: Nasdaq GitLab shares rose 33% on Tuesday, after the provider of code-deployment software reported a narrower loss than analysts expected and bumped up its full-year forecast. The stock was headed for its best
Share: Economists at Credit Suisse analyze USD/INR outlook ahead of the Reserve Bank of India (RBI) meeting. RBI will intervene to enforce an 81.00-83.00 USD/INR trading range We still think RBI intervention is the main driver for the USD/INR exchange rate. The RBI has intervened at 81.00 and 83.00 since October 2022. The decision to
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Crypto exchange Binance.US responded to the new motion from the United States securities regulator seeking to freeze the assets of the U.S. crypto exchange “on an expedited basis.” In a Twitter post on June 6, Binance.US reiterated that “user assets remain safe and secure” and added the platform “continues to be fully operational with deposits
Euro plummets broadly in today’s market after a CB survey revealed significant drop in consumer inflation expectations. Sterling and Swiss Franc also recorded a generalized weakness. On the other hand, Australian Dollar held its ground as the day’s strongest currency, buoyed by an unexpected interest rate hike by RBA. The Canadian Dollar followed closely, though
The USDCHF is mired in a up-and-down type of market environment. The downside, there is decent support near 0.9025 and 0.9035 (a red numbered circles). On the topside, price action over last 5 trading days comes between 0.9113 and 0.9119 (see blue numbered circles). There had been moves above and below those areas (see red
The report is of two monkeypox cases detected in Beijing, which comes via Chinese state media. Given the “massaging” of data out of China I suspect the number is greater than two. I could be wrong. Via Global Times: Beijing has recently detected two cases of monkeypox. One is an imported case, while the other
Gold price climbed Rs 375 to Rs 60,775 per 10 gram in the national capital on Tuesday amid a rise in the precious metal’s prices in overseas markets, according to HDFC Securities. In the previous trade, the yellow metal had closed at Rs 60,400 per 10 gram. Silver, however, fell by Rs 50 to Rs