Bank of America Global Research discusses EUR/USD technical outlook and looks for hints of and H&S top. “A technical bottom pattern would go a long way in supporting the potential for further gains in the euro spot rate next year. One pattern to be on watch for is a head-and-shoulders bottom. If we assume the
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Gold prices rose by Rs 320 to Rs 53,449 per 10 grams in the national capital on Wednesday in line with firm global trend and depreciation in the rupee, according to Securities. In the previous trade, the precious metal had closed at Rs 53,129 per 10 grams. Silver, however, dropped Rs 125 to Rs 62,682
The financial markets are generally quiet today, with European indexes and US futures trading slightly lower into US session. In the currency markets, most major pairs and crosses are stuck inside yesterday’s range, with Yen and Dollar on the softer side, Euro and Swiss Franc on the firmer side. Sterling and Canadian Shrug respecting inflation
Wholesale prices increased less than expected in October, adding to hopes that inflation is on the wane, the Bureau of Labor Statistics reported Tuesday. The produce price index, a measure of the prices that companies get for finished goods in the marketplace, rose 0.2% for the month, against the Dow Jones estimates for a 0.4%
In this article TGT Follow your favorite stocksCREATE FREE ACCOUNT Target‘s profit fell by around 50% in its fiscal third quarter as it cleared through unwanted inventory and sales slowed heading into the holidays, prompting the company to lower its expectations for retailers’ most important time of year. The company also said Wednesday it plans
Economic data from the United States was mixed and bolstered the US Dollar. US Retail Sales grew the most in eight months, while Industrial Production disappointed. Albeit Australia’s WPI jumped, it won’t deter the Reserve Bank of Australia from 25 bps hikes. The AUDUSD retreats from weekly highs around 0.6800 after a sales report in
The EURUSD dipped into the swing area between 1.0348 to 1.0365. The low did dip to 1.0346, just a couple pips below the lower extreme, but has bounced. The price trades at 1.0369 just above the higher extreme. Can the buyers push prices higher after a successful test? That is what the dip buyers are
It all started with markets fearing the worst, that is Russia stepping up its aggression before the US and allies started to realise that perhaps something is amiss here. That was enough for the risk mood to recover a little but now we are seeing a better recovery ahead of European trading as US officials
Gold prices rose, nearing three month high in Wednesday’s trade as cooling US inflation signalled bets for smaller rate hikes. Rekindled geopolitical tensions due to missile blast in Poland also pushed gold prices higher. Gold futures on were trading up by 0.48% or Rs 254 at Rs 52,999 per 10 grams. Similarly, silver futures jumped
The selloff in Dollar overnight didn’t last very long. The greenback is trying to recovery in Asian session, as traders turned cautious on news that Poland was struck by a Russia-made projectile. But overall trading is subdued so far. Aussie and Kiwi are the strongest ones for the week at this point, supported by optimism
Countries should strike up more economic alliances than security and defense ones, as those could make the world “more dangerous,” the president of the Center for China and Globalization said on Tuesday. Doing that would also circumvent a slide toward deglobalization, which could hold back economic development across the world. The U.S. for example, could
In this article HD Follow your favorite stocksCREATE FREE ACCOUNT Home Depot reported Tuesday its third-quarter revenue increased about 6% to nearly $38.9 billion, beating analyst expectations, as the retailer continued to beckon customers despite rising costs and macroeconomic pressures. Both its professional and do-it-yourself sales saw positive growth during the period, the retailer’s management
CME Group’s flash data for gold futures markets noted open interest shrank for the second session in a row on Tuesday, this time by around 14.8K contracts. Volume, instead, increased by around 150.5K contracts after two consecutive daily drops. Gold: Next on the upside comes the 200-day SMA Prices of the ounce troy of gold
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With the cryptocurrency market becoming ever more complex and intimidating, California Attorney General Rob Bonta had decided to issue guidance for novice crypto buyers. The California Office of the Attorney General’s website now features a page that will help those new to crypto “avoid the hype, [and] get the facts.” “Don’t fall for a fantasy
The price of crude oil moved higher on the back of the Russian missile that landed in Poland killing 2 people. The price of crude oil raced higher reaching $88.65. That was just above the 200 hour moving average at $88.63. The price has since rotated back to the downside currently trading at $87.52 up