Gold Price is back in the red, as sellers keep lurking just below $1,960. The US dollar rebounds with yields, capping the XAUUSD rebound. All eyes now remain on Fed Chair Powell’s and US President Biden’s speech. Gold Price is in a narrow consolidative range so far this Thursday, having stalled its rebound just shy
FX
The US Existing Homes Sales unit rate fell by 2.7% MoM in March, the latest data release by the National Association of Realtors revealed on Wednesday. That meant the 12-month rolling number of sales (the unit rate) fell to 5.77M in March, below the economist consensus for 5.8M, marking a decline from February’s unit rate
AUD/USD bears are lurking in a critical resistance area. The bears are looking for a discount to take put the daily supporting trendline. AUD/USD is chipping away at the downside following the People’s Bank of China’s decision to hold rates, but that does not tell the whole story of the pair. From technical analysis, the
DXY alternates gains with losses near 101.00. US yields advances to new highs on Tuesday. US housing data surprised to the upside in March. The US Dollar Index (DXY), which gauges the greenback vs. a bundle of its main competitors, extends the rally to the area just beyond the 101.00 mark on turnaround Tuesday. US
The minutes of the Reserve Bank of Australia are being drip-fed through the wires adding more colour surrounding the Board’s views and are so far supporting AUD/USD that was already correcting an hourly bearish impulse. RBA minutes Inflation had picked up and a further increase was expected. Australian economy had remained resilient and spending was picking up
EUR/JPY is consolidating close to recent highs above the 136.50 mark on Monday in quiet, holiday-thinned trade. “Until the BOJ changes its ultra-dovish stance… monetary policy divergence argues for continued yen weakness,” one analyst said. Technicians are eyeing a possible bullish breakout above the 137.00 level and a push towards 140.00. EUR/JPY is consolidating close
AUD/JPY is performing subdued in early Tokyo as investors await China’s GDP. This week’s RBA minutes will reveal the reason behind the neutral stance opted by the RBA in April. The BOJ is expected to keep the ultra-loose monetary policy despite higher inflation forecasts. The AUD/JPY pair is juggling in a narrow range of 92.82-93.90
The euro is barely down in choppy trading as financial markets remain closed. A dovish European Central Bank plummets the EUR/USD towards new YTD lows at 1.0757. The US Dollar Index to finish the week with gains of 0.68%. EUR/USD Price Forecast: A weekly close below 1.0806 might open the door toward 1.0636. On Friday,
GBP/USD to finish the week under 1.3100 on a firm US dollar The British pound remains defensive, trading below the 1.3100 mark, on the back of a buoyant US dollar amidst a dull trading session as financial markets are closed In the observance of Easter Friday. The GBP/USD is trading at 1.3061 at the time
Risk-aversion keeps the Australian dollar under pressure, down in the week by 0.86%. Mixed Australian economic data, a headwind for the AUD/USD. Hot US inflation boosts the prospects of a higher US dollar as the Fed prepares for a 0.50 bps increase. AUD/USD Price Forecast: A weekly close below 0.7400 would open the door to
The GBP/USD is gaining up some 0.18% in the week amidst a thin liquidity trading session. A buoyant US dollar and risk-aversion weighed on the British pound in the week. GBP/USD Price Forecast: To remain downward biased but a double bottom looms. The British pound remains defensive, trading below the 1.3100 mark, on the back
NASDAQ:GGPI fell by 0.59% during Thursday’s trading session. The Polestar 2 receives a solid review from Tom’s Guide. Tesla tumbles after Musk makes a bid to buy Twitter. NASDAQ:GGPI traded lower in the last abbreviated session before the markets closed for the Easter long weekend. On Thursday, shares of GGPI dipped by 0.59% and closed
GBP/USD bears are lurking at key resistance levels. A downside correction can be expected for the days ahead. GBP/USD’s correction is starting to decelerate into the resistance that is marked by the 38.2% Fibonacci retracement level neat 1.3080. However, there is a confluence of the old structure next toward a 50% mean reversion of the European
MULN stock closes down again on Wednesday losing 2.8%. MULN stock is lower again in Thursday’s premarket. MULN stock suffering from a lack of momentum and the Hindenburg fallout. MULN stock continues its slide lower with more losses in Thursday’s premarket, following on from a near 3% fall on Wednesday. This is despite risk assets
USD/CHF is auctioning in a narrow range of 0.9330-0.9350 as investors await US Retail Sales. Fed Waller has advocated a 50 bps interest rate to corner the risks of inflation. The Swiss docket will report Real Retail Sales later this month. The USD/CHF pair is witnessing back and forth moves in a range of 0.9325-0.9356
BBBY stock is set to release Q4 earnings before the open on Wednesday. BBBY stock is a noted favorite amongst retail traders. BBBY stock counts GME savior Ryan Cohen as a large shareholder. Update: BBBY stock is down 10% on Wednesday aster the company reported disappointing earnings. EPS came in at -$0.92 versus $0.03 expected. Revenue
AUD/USD has sensed a correction from 0.7500 ahead of Australia’s jobless rate. Investors are shrugging off higher US inflation print, interest rates seek a decent hike. A preliminary estimate of Australia’s Unemployment Rate at 3.9% indicates an outperformance. The AUD/USD pair has witnessed a minor pullback at around 0.7500 after a decent bullish reversal from
Here is what you need to know on Tuesday, April 12: The CPI data from the US just released should at least provide some relief to markets. While broadly in line and a little better in the core number, investors have been conditioned to expect the worst now from inflation figures. These should at least