Share: EUR/USD remains confined in a narrow trading band for the second straight day. The technical setup warrants some caution before placing fresh directional bets. Traders now look to the US CPI for fresh impetus amid dovish Fed/ECB pricing. The EUR/USD pair extends its sideways consolidative price move for the second successive day on Tuesday
The ECB and the Bank of England both meet and announce rate decisions on Thursday and like the EURUSD (see post here), the price of the EURGBP seems to be waiting for the next shove from the fundamental news. EURGBP awaits the next shove. Looking at the hourly chart above, the price has been trading
US inflation data for November is due at 0830 US Eastern time on Tuesday, 12 December. The consensus estimates: The range of estimates for important data is good to be aware of. While it seems unlikely that this data for US CPI will be likely to sway the Federal Open Market Committee (FOMC) meeting this
Gold prices edged higher on Tuesday after hitting a three-week low in the last session, as the dollar eased, while investors awaited key U.S. inflation data and major central bank policy meetings for interest rate clues. FUNDAMENTALS * Spot gold was up 0.2% at $1,985.49 per ounce as of 0113 GMT, after hitting its lowest
Chinese Yuan’s significant selloff in Asian session today had a ripple effect across several major currencies, dragging down Japanese Yen, Australian Dollar, and New Zealand Dollar. This movement was largely spurred by concerning data from China indicating deepening deflation, which also negatively impacted Hong Kong’s stock market. Yuan’s future trajectory now hinges critically on a
Markets are confused over the odds of a U.S. recession, and “somebody has got it wrong,” according to hedge fund manager David Neuhauser. The CIO of Livermore Partners told CNBC on Monday that many investors are hoping for a “Goldilocks” scenario, in which the economy doesn’t grow too quickly, or shrink too much. “The outlook
Share: Silver continues to sink, after hitting $24.63, so far down 10.41% since last week. The XAG/USD is bearishly biased, with sellers eyeing $21.88. If Silver buyers reclaim $23.00, upside risks emerge with key resistance levels at the 100 and 200 DMAs. Silver price (XAG/USD) dives during the North American session, though it remains above
The week is off and running. What are the technicals saying for the 3 major currency pairs – the EURUSD, USDJPY and GBPUSD? EURUSD: The EURUSD is trading in a narrow up-and-down range. The pair moved up to test this 100 hour moving average at 1.0779 and found willing sellers. The price is also trading
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 traded rangebound on Monday ahead of the US Federal Reserve’s Federal Open Market Committee (FOMC) meeting outcome on Wednesday. Taking cues from the price of yellow metal in the international market, MCX February gold futures were trading at Rs 61,727 at the opening time, up by Rs 8 or 0.01% from Friday’s closing price.
Yen’s near-term pullback has notably accelerated today. Some reports surfaced suggesting that the BoJ is not poised to abandon its negative rate policy anytime soon, with the earliest potential shift expected no sooner than April meeting. This stance isn’t fundamentally new, as BoJ has consistently indicated that it requires time to assess Spring’s wage negotiations
The incoming head of one of the world’s largest development banks says it must become faster and more efficient in order to finance priorities such as the climate transition and Ukraine rebuild. Nadia Calviño, Spain’s finance minister and deputy prime minister, was appointed head of the European Investment Bank Friday — in what has been touted
Share: Gold price remains under some selling pressure for the second successive day on Monday. Reduced bets for a March Fed rate cut move and a modest USD uptick weigh on the metal. Geopolitical risks could help limit further losses ahead of this week’s key data/event risks. Gold price (XAU/USD) fell over 1.5% intraday and
Indicators: NQ technical analysis for 11 Dec 2023 Nasdaq technical analysis for the short term, 11 Dec 2023: The NASDAQ 100 E-mini Futures hourly chart shows a rising wedge pattern, which is a bearish reversal pattern. The price is making higher highs and lower lows, but the RSI is not confirming the upward move. This
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 steadied on Monday after a sharp decline in the previous session, as investors looked forward to several major central bank meetings and U.S. inflation data release this week for further direction. FUNDAMENTALS * Spot gold was up 0.1% at $2,005.85 per ounce as of 0038 GMT, after dropping about 3.3% last week in its
Released over the weekend, China’s economic data revealed a concerning trend as CPI plunged further into negative territory in November, marking the country’s deepest deflationary period in three years. CPI fell to -0.5% yoy, a notable decline from -0.2% yoy in the previous month and falling short of the expected -0.2% yoy. This deflationary reading
LONDON — Major companies in the energy and food sectors amplified inflation in 2022 by passing on greater cost increases than needed to protect margins, according to a new report. British think tanks the Institute For Public Policy Research and Common Wealth said in a report Thursday that big firms made inflation “peak higher and