AUD/USD lost its traction after rising above 0.7200 on Friday. Market mood turns cautious ahead of the weekend. US Dollar Index turns flat on the day near 92.50. The AUD/USD pair climbed to a daily high of 0.7410 on Friday but lost its traction during the American session. As of writing, the pair was still
FX
GBP/USD tracks higher on Friday in the Asian trading hours. US Dollar Index retreats from the previous day’s high to trade stable near 92.50. The sterling gains on hawkish BOE view, UK data eyed. The GPD/USD extends the previous session’s gain on Friday and continues to extend the gains toward 1.3850. The pair is expected to
Digihost Bitcoin Miner touts itself as a clean bitcoin miner who’s electricity usage is 90% green energy. The chart looks pretty clean, but lets take a look at more details on the company: “Digihost is a Blockchain Technology Company based in the United States with a focus on Bitcoin mining. Our growth-oriented strategy is to
Analysts at Morgan Stanley offer a sneak peek at what to expect from the European Central Bank (ECB) monetary policy decision and what’s in store for the euro. Key quotes “We expect the September ECB meeting to maintain the current PEPP purchase pace. We then expect an active autumn debate on QE after PEPP, leading
US IBD/TIPP Economic Optimism Index fell below 50 for the first time in 2021. US Dollar Index continues to edge higher toward 93.00. The headline Economic Optimism Index of Investor’s Business Daily (IBD) TIPP poll declined to its lowest level since December at 48.5 in September from 53.6 in August. Additionally, the Six-month Economic Outlook
Short Term Elliott Wave view in Facebook suggests the rally from August 3, 2021 low is unfolding as a 5 waves impulse structure. Up from August 3 low, wave 1 ended at 365.77 and pullback in wave 2 ended at 350.20. The stock has resumed higher in wave 3 towards 384.33. The internal of wave 3
Silver struggled to capitalize on last week’s bullish breakout momentum through a trading range. The formation of an ascending trend channel supports prospects for additional near-term gains. The emergence of dip-buying adds credence to the positive outlook and favours bullish traders. Silver attracted some buying near the $24.20 resistance breakpoint and has now trimmed a
NYSE:BABA futures edged higher in quiet start to the week Investors seem to be suspicious of the Common Prosperity donations from big tech firms. Ride-hailing firm Didi Global gains on news that Beijing may take over operations. Update: NYSE:BABA heads into the Asian opening trading at $170.75 per share, marginally up on futures, as Wall
The Reserve Bank of Australia (RBA) will meet on Tuesday, September 7 at 06:30 GMT and as we get closer to the release time, here are the forecasts by the economists and researchers of 10 major banks regarding the upcoming central bank’s decision. The market expects Australian policymakers to reverse their tapering plans. In the
The European Union (EU) Economy Commissioner Paolo Gentiloni reiterated that Euroarea inflation is transitory in a Bloomberg interview, although warned the European Central Bank (ECB) over a premature monetary policy tightening. Key quotes “We are monitoring euro-area inflation — we should monitor it very accurately — but without making conclusions too soon” “I think it would
GBP/USD prints fresh two-week highs above 1.3870 as the US dollar remains weak Pound prints fresh highs across the board during the American session. US dollar consolidates post NFP losses, even as US yields rise sharply. GBP/USD up for the third day in a row, gains a hundred pips from a week ago. The GBP/USD
August’s Nonfarm Payrolls figures have badly disappointed. A softer USD was somewhat faded following the release as some of the weakness may have been baked into the cake. Going forward, economists at TD Securities think USD could begin to stall. USD to underperform vs. AUD and NZD “Payrolls rose 235K, well below consensus. Revisions add
USD/CNH picks up bids to refresh intraday high, snaps three-day downtrend. 100-DMA, two-week-old resistance line guard recovery moves. Key Fibonacci retracement levels are on the bear’s radar. USD/CNH takes the bids to renew intraday high with 6.4551, up 0.10% on a day, after China’s Caixin Services PMI and Composite PMI disappointed traders during early Friday.
Gold extends its recovery from long-term support. The yellow metal may be forming a larger bullish continuation pattern, the Credit Suisse analyst team reports. See – Gold Price Forecast: XAU/USD to see a final rally towards $1900 – ANZ XAU/USD would set an in-range base above $1834 “Key now is the July and August highs at
S&P 500 Futures struggles for clear direction, edges higher of late. Latest COVID-19 numbers from Australia, New Zealand and the UK renew covid woes, Japan up for extending virus-led emergency. WHO cites the risk of another covid strain ‘Mu’ that resists vaccines. US data keeps traders hopeful ahead of the key jobs report for August.
ISM Manufacturing PMI edged slightly higher in August. US Dollar Index struggles to gains traction after PMI data. In August, the economic activity in the US manufacturing sector expanded at a stronger pace than it did in July with the ISM’s Manufacturing PMI rising modestly to 59.9 from 59.5. This reading came in higher than
The Bank of Japan Deputy Governor Masazumi Wakatabe has said on Wednesday that the Bank of Japan must not withdraw monetary stimulus prematurely even if rising raw material costs push up inflation. “It’s crucial to avoid tightening easy monetary conditions prematurely by looking just at near-term moves in the core consumer price index,” Wakatabe said
ISM Chicago PMI came in lower than expected in August. US Dollar Index stays in the negative territory near 92.50. The Chicago Purchasing Managers Index released by ISM-Chicago dropped to 66.8 in August from 73.4 in July, showing deteriorating business conditions across Illinois, Indiana and Michigan. This reading came in lower than the market expectation