Dollar appears to be taking a breather, experiencing a broad decline in month-end trading as it reverses some of its recent gains. The initial support from the debt ceiling deal seems to be waning, while market participants are adopting a cautious stance ahead of this week’s crucial non-farm payroll data. The figures are expected to
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The NASDAQ index traded as high as 178.60 points to 13154.29. The price just reached a new session low at 12968.12. The current price trades at 12980 up 4.59 points or 0.04%. At session laws, the price was down -7.57 points. At the session high today (at 13154.29), the price got within 17 -18 points
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Gold bounced back from early losses on Tuesday, as the dollar pulled back and Treasury yields slid on wider market optimism about the U.S. debt ceiling deal. Spot gold rose 0.9% to $1,960.55 per ounce by 11:51 a.m. EDT (1551 GMT), after hitting its lowest since March 17 earlier. U.S. gold futures gained 0.8% at
Share: USD/CAD bulls are starting to graze on the bearish correction. Trendline support could well be respected leading to a bullish continuation. The Canadian dollar edged higher against the US Dollar on Monday as a deal to temporarily suspend the US debt ceiling boosted investor sentiment. Technically, however, the correction could be grazed upon by hungry bulls
Trading has remained muted as major markets recuperate from a lengthy weekend. Investors are not reacting dramatically to the agreement regarding US debt ceiling. Instead, they are casting a cautious eye towards Congress, awaiting indications of how the deal will be received. Compounding the apprehension, a slew of significant economic data is slated for release
On the daily chart below, we can see that gold sold off from the 2076 record high as stronger than expected US economic data made the market to reprice interest rates expectations on the hawkish side. Gold is inversely correlated with real yields and this hawkish repricing in the rates path saw real yields rising,
The dollar is picking up from where it left off last week as gains are coming through once again. EUR/USD is down 0.2% to fresh ten-week lows at 1.0685 while USD/JPY is touching 140.90 as buyers look to extend the break above the 140.00 mark and are eyeing 142.00 next: And that comes despite Treasury
Gold prices slipped to a two-month low on Tuesday, losing their appeal amid optimism over the debt ceiling deal and a hawkish Federal Reserve commentary hinting of an unlikely pause in the interest rate. The yellow metal was trading with a negative bias on MCX and Comex owing to strength in the Dollar Index (DXY)
Share: Here is what you need to know on Tuesday, May 30: The US Dollar (USD) continues to gather strength against its rivals as trading conditions normalize following Monday’s subdued action. The US Dollar Index sits at its highest level since mid-March near 104.50 ahead of the Conference Board’s Consumer Confidence report for May and
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Bank of America (BofA) has shared insights into 8technical strategies based on historical performance data, revealing a variety of potential investment patterns. Key findings include: Golden Cross: This event, when the 50-day moving average (MA) crosses above the 200-day MA, tends to precede rises in the DXY (Dollar Index) 65-79% of the time, typically 20-80
Markets: AUD leads, EUR lags WTI crude oil up 37-cents to $73.04 US bond market closed US equities closed Canada TSX Comp +0.3% Gold down $3 to $1942 It was a holiday in the US and UK so it was predictably quiet, especially after Europe went home. Selling the dollar was the main theme throughout
Oil prices slipped on Monday as economic worries over further interest rate hikes trumped a tentative debt ceiling deal reached in the U.S., possibly averting a default in the world’s largest economy and oil consumer. Brent crude futures slipped 68 cents, or 0.8%, to $76.27 a barrel by 1350 GMT, while U.S. West Texas Intermediate
Share: NZD/USD bulls coming into the market. Bearish impulse could be on the verge of a significant correction. NZD/USD bears are lurking in a shallow correction of the daily bearish impulse as the following will illustrate in a top-down analysis starting on the daily chart. NZD/USD daily chart The price is embedded below prior support
Now that markets can put behind them the US debt ceiling issue, the focus will start to turn back towards the balance between inflation, central banks, and the economic outlook. For Europe, it will be more about the inflation outlook again this week as we will be getting preliminary CPI data across the region for
Gold prices slipped on Monday as a tentative deal sealed over the weekend to suspend the U.S. debt ceiling coupled with jitters around higher-for-longer interest rates weighed down on the non-yielding metal’s appeal. FUNDAMENTALS * Spot gold was down 0.3% at $1,941.45 per ounce by 0059 GMT, hovering near two-month lows hit on Friday. U.S.