News

The dollar continues to stay strongly bid in European trading today and that is pitting the antipodean currencies at the lows for the day up against the greenback. AUD/USD is down 1% to 0.6595 currently and NZD/USD down 0.8% to 0.6150 as both currency pairs are seeing a major breakdown on the week. They are

Gold prices slipped on Tuesday in early trade amid gains in the dollar index and higher bond yields even as the Street awaits comments from a host of US Federal Reserve’s speakers later this week to get more clarity on the Central Bank’s rate trajectory. Taking cues from the international market, MCX February gold futures

Dollar rises broadly on risk-off sentiment today, as as Hong Kong stocks led the region lower. The greenback’s strength comes despite growing calls for Fed to initiate policy loosening earlier. Notably, Goldman Sachs has joined this chorus, predicting an initial rate cut as early as March and a total of five cuts throughout the year.

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not

Gold prices advanced on Monday, as the metal’s appeal was boosted by safe-haven demand owing to tensions in the Middle East, while markets raised bets that the Federal Reserve will cut rates as soon as March. Spot gold was up 0.2% at $2,052.10 per ounce, as of 10:34 a.m. ET (1534 GMT). U.S. gold futures

Euro trades mildly higher today after two known ECB hawks raised skepticism about a near term rate cut. Yet, upside momentum is somewhat tempered by weak trade and production data. Also, Euro is outshone slightly by Dollar, but the latter is also struggling to break out from familiar range other major currencies. Subdued trading could

There is no particular headline driving the move but at the same time, risk appetite looks to be sapped after a mildly positive open earlier. European indices are now down around 0.1% to 0.3% with bond yields sitting a little higher on the day. The early flows are translating to a positive start for the

Gold traded in the green on Monday in the early trade extending gains for the third straight session riding on tension in the Middle East. The Dollar Index’s (DXY) weakness further aided its cause with the US producer price data last week renewing bets for an early rate cut by the Federal Reserve and thus

The forex markets commenced the week on a relatively quiet note, despite generally positive risk sentiment. This was highlighted by Japan’s Nikkei, which continued its impressive performance, breaking above 35k mark to reach new three-decade highs. The robust momentum could continue until the eagerly awaited BoJ meeting later in the month, where fresh economic forecasts

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not

Oil prices rose more than 2% on Friday as the United States and Britain carried out strikes against Houthi military targets in Yemen in retaliation for attacks by the Iran-backed group on shipping in the Red Sea starting from late last year. Brent crude futures were up $1.81, or 2.3%, at $79.22 a barrel, while

UPCOMING EVENTS: Monday: PBoC MLF, US Markets closed for MLK Day, BoC Business Outlook Survey. Tuesday: UK Labour Market report, Canada CPI, Fed’s Waller. Wednesday: China Industrial Production and Retail Sales, UK CPI, US Retail Sales, US Industrial Production, US NAHB Housing Market Index. Thursday: Australian Labour Market report, ECB Minutes, US Building Permits and

MCX Gold and Silver contracts, mastering key technical indicators is crucial for making informed decisions in the dynamic precious metals market. This exploration centers on the effective use of Moving Averages, particularly the Exponential Moving Averages (EMAs) 8 and 21, for identifying trends, potential reversal points, and implementing risk management strategies. Moving Averages (MA) –

The AUDUSD technicals are closing what has been an up-and-down trading week with a bias to the downside. That is a result, of the price action that has taken the price back below the 200 and 100-hour MAs at 0.6711 and 0.6700. Staying below those MAs tilts the bias more to the downside. Although the

Citi Research on Friday lowered its Brent price forecasts for this year and 2025, citing oversupply concerns but expects prices holding above $70 per barrel in 2024 as OPEC+ keeps global oil markets “finely balanced”. Citi cut its 2024 Brent price forecast by $1 to $74 per barrel and slashed 2025 forecast by $10 to

Dollar demonstrated a distinct lack of decisiveness in its trading last week, encapsulating a theme of uncertainty that has become characteristic since the start of the year. The greenback has indeed close the week within prior week’s range against most major counterparts, with Canadian Dollar being the only exception. This pattern of indecision is largely

The major US stock indices are ending the day with mixed results. The Dow was lower on the day and although both the S&P and Nasdaq closed higher, it was only by modest changes. Nevertheless, the Nasdaq is now up 6 consecutive days after starting the New Year on the back foot by moving sharply

Despite repeated OPEC plus output cuts and Israel-Hamas conflict, oil prices shed more than 13 percent in 2023 against its previous year’s average price. However, prices exhibited a varied move throughout the year driven by multiple factors that affected its fundamentals. US NYMEX oil started at nearly $80 a barrel in 2023 but pushed down