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
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
LONDON – Oil benchmark Brent hovered close to $86 a barrel on Monday as hostilities intensified between Russia and Ukraine and in the Middle East. Brent crude futures climbed 44 cents to $85.87 a barrel by 1321 GMT while U.S. crude futures gained 46 cents to $81.09. Both benchmarks have risen steadily this year, with
Mild risk-off mood is seen in the global financial markets today, starting from the the noticeable retreat in Japan’s Nikkei, then the marginal declines across European stock indices, alongside soft US futures. However, this sense of caution has not significantly rippled through the currency markets, where activity remains largely subdued. Notably, most major currency pairs
Australian Dollar rises on stronger Chinese Yuan and higher ASX 200 on Monday. Australia’s government has committed to backing a minimum wage increase aligned with inflation in 2024. CNY experienced a significant upward movement due to FX intervention, with Chinese major state banks observed selling USD/CNY. Fed Atlanta President Raphael Bostic revised his earlier forecast
BTCUSD 4 hourly chart shows a failed breakout Bitcoin’s recent price action on the 4-hour chart presents a fascinating narrative of a failed breakout, highlighting the constant battle between bulls and bears in the cryptocurrency market. Here’s an in-depth look at the technical analysis of Bitcoin’s performance and what traders might anticipate next. Bitcoin’s Failed
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 slipped on Friday and were flat on the week as the possibility of a ceasefire in Gaza weakened crude benchmarks, while the war in Europe and shrinking U.S. rig count cushioned the fall. Brent futures for May delivery settled at $85.43, losing 35 cents. U.S. crude settled at $80.63 a barrel, falling 44
Investors continue to bet on the easing cycle beginning by June, led by incoming data. The Greenback is holding resilient despite the Fed’s somewhat dovish guidance and falling US Treasury yields. Next week, the US will release PCE figures from February. The US Dollar Index (DXY) is currently trading at a robust 104.428, marking the
The EURUSD is trading at new session lows and lows for the week. In the process, the pair is testing the high of a swing area near 1.0847 and the 61.8% of the move up from the February low to the March high at 1.08036. The swing area extends down to 1.07955 (see red numbered
UPCOMING EVENTS: Tuesday: US Durable Goods Orders, US Consumer Confidence. Wednesday: Australia Monthly CPI, Fed’s Waller. Thursday: BoJ Summary of Opinions, Australia Retail Sales, Canada GDP, US Final Q4 GDP, US Jobless Claims. Friday: US Good Friday Holiday, Japan Jobs data, Tokyo CPI, Japan Industrial Production and Retail Sales, US PCE, Fed Chair Powell. Tuesday
As the financial year 2023-24 (April-March) is set to close in a week, gold’s returns so far amount to an impressive 11% beating the inflation by nearly twice. However, returns by silver over the same period have been a mere 3.2%. Both gold and silver have outperformed their peers in the international market. The yellow
Gold prices see second day of decline, falling to $2,159 after peaking at an all-time high of $2,223. The Federal Reserve’s dovish stance on interest rates keeps US yields down, except for US Dollar. Odds for Fed rate cut in June remain above 70% via CME FedWatch Tool. Gold prices drop for the second consecutive
Crude oil futures are settling at $80.63. That is down $0.44 or -0.54%. The low for the day reached $80.42. The high was up at $81.45. For the trading week, the price is down -0.51% on a decline of $0.41. At session highs this week, the price was up $2.08. At session lows, the price
Goldman Sachs forecasts for USD/JPY: 3 months 155 (the prior forecast for 3 months out was 145) 6 months 150 (prior 142) 12 months 145 (prior 140) These are from a GS note sent to client on Friday. GS cite a “benign macro risk environment” for its bearish view on yen. GS analysts also say
Spot gold hit a fresh record high of $2,222 on a dovish FOMC monetary policy decision before giving back all the gains due to the resurgent dollar. It closed with a weekly gain of nearly 0.40% at $2,166 in an eventful week laden with monetary policy decisions of key central banks. The metal fell to
Indicators flash oversold conditions on the daily chart. Contrarily, hourly chart indicators suggest a slow return of bullish impulse as the bears might have run out of steam. In Friday’s session, the NZD/USD declined just below the 0.6000 threshold, illustrating a bearish outlook as sellers continue to dominate the market. The pair is positioned below
The USDJPY bumped against three-year highs this week on both Wednesday and Friday, and found willing sellers each time. The high on Wednesday reached 151.81. The high today reached 151.85. That compares to the 2022 high at 151.95, and the 2023 high at 151.91. So over the last three years, the swing highs are within