There was a very late bid in the oil market today that may have materialized as major events started to unfold in Russia. In a video last week, Wagner founder Yevgeny Prigozhin appeared to say that his 25,000 strong militia was heading to Moscow to oust the leadership of the defense ministry. “Those who destroyed
Gold prices on Friday were on track for their biggest weekly drop since February as prospects of additional interest rate hikes by the U.S. Federal Reserve this year weighed on bullion’s appeal. FUNDAMENTALS * Spot gold was up 0.1% at $1,915.39 per ounce by 0040 GMT, although prices hovered close to a three-month low. U.S.
Dollar saw a significant rebound overnight, a rally that carried on into the Asian trading session today. This surge is mainly attributable to short covering, particularly as central bank rate hikes this week failed to drive an extended selloff in the greenback. In fact, Dollar is currently the second strongest performer for the week, closely
Share: Gold recovers, rising 0.69% to $1926.30, amid global recessionary fears and faltering US bond yields. A worldwide slowdown in business and manufacturing activity stokes investor concerns and drives a shift to safe assets. Market participants focus on Fed speeches for rate hike insights; current odds are 74.4% for a 25-bps hike in July. Gold
Here we go again. The USDCAD has been trending more to the downside. This week a new low was made going back to September 2022. On the move to the downside, there have been corrective moves higher which have seen the price of the pair move above its 100-hour moving average (blue line in the
Fifth consecutive improvement in services Prior was 54.9 Manufacturing 46.3 vs 48.5 expected Composite 53.0 vs 54.3 prior Services new orders grew at a strong rate Full report The manufacturing and services PMIs are headed in opposite directions. The services upturn was led by strong customer confidence and new client acquisitions, according to S&P Global.
Bullion traded in the red on Friday on account of a strong dollar index (DXY), which was trading positive above the 102.50 mark against a basket of six top currencies. Both gold and silver futures were in the red in the opening trade on the MCX. The August Gold futures were trading at Rs 58,114
Dollar has launched a broad-based rebound in today’s market. However, momentum appears to be faltering against its European counterparts in early U.S. trading session. Although it continues to perform strongly against Yen and Australian dollar, the greenback has been struggling to break last week’s high against other key currencies. Consequently, this rebound seems to be
Fresh PMI data came in below expectations and pointed to an economic slowdown. Bloomberg | Bloomberg | Getty Images Business activity growth in Europe slowed in June, pointing to a difficult end to the second quarter, according to preliminary data Friday. The euro zone’s flash composite Purchasing Managers’ Index dropped to 50.3 in June from
Share: Natural Gas continues its climb higher as hotter weather stokes demand for Gas to power air conditioning. Gas terminal closures and outages in Norway, Europe’s primary producer, further support prices. Technicals are mixed with short-term rallies within a longer-term downtrend. Natural Gas price continues its step recovery into the weekend. The commodity is supported
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After a grand opening in March, Australian fast-food diner Shiba Wings has seen plenty of customers walking through the doors for their fried delectables. Their appetite, however, hasn’t translated to crypto payments. The Shiba Inu (SHIB) themed diner first opened its doors in Australia’s beachside city Surfers Paradise on March 18, 2023. Speaking to Cointelegraph,
Oil prices were little changed in early trading on Friday but were headed for a 3% drop for the week on worries about the outlook for fuel demand after a bigger-than-expected interest rate hike in the UK and warnings about looming U.S. rate hikes. Brent futures slipped 7 cents, or 0.1%, to $74.07 a barrel,
Share: Silver Price drops to the lowest levels in three months during five-day losing streak. Clear downside break of previous support line from mid-March, 200-DMA favor XAG/USD bears. Bearish MACD signals also suggest further downside of the Silver Price but RSI (14) hints at a pullback. Nine-month-old ascending support line appears the key challenge for
The NZDUSD has seen a number of ups and down in recent trading. That pattern continued in trading today with up-and-down price volatility. The most recent “run” has been to the downside (see hourly chart below), and that move has taken the price back below the 100/200 hour MAs. The 100-hour MA is at 0.61924.
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