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
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Well, the dollar looks to have finally broken and that is setting up some interesting technicals all across the board now. I’ll go into more details in the session ahead but as summarised earlier, here’s the overview: EUR/USD breaks above April to May highs to highest levels since March 2022, eyes 200-week moving average at
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Gold futures traded with a positive bias in Thursday’s early trade aided by weakness in the Dollar Index (DXY) which slipped below the 101 mark. Cooling US inflation numbers in the US weakened the greenback and lifted the yellow metal. The DXY was trading at 100.47, losing nearly 3% over the past five trading sessions.
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Following a significant post-CPI sell-off, Dollar’s plunge appears to be losing some momentum during today’s Asian trading session on oversold conditions. However, the greenback is yet to demonstrate any considerable signs of a rebound. Investors seem buoyed by the waning likelihood of Fed extending its tightening phase beyond the imminent July interest rate hike. As
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Oil prices were little changed on Wednesday in a market caught between expectations supply cuts by the world’s biggest fuel exporters will drive prices higher and concerns global economic weakness will sap demand. Brent futures had edged up 20 cents to $79.60 a barrel by 1145 GMT, while U.S. West Texas Intermediate (WTI) crude rose
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