Gold prices are expected to rise towards record highs above $2,000 an ounce this year, albeit with a little turbulence, as the United States slows the pace of rate hikes and eventually stops increasing them, according to industry analysts. Spot prices of the precious metal have shot above $1,900 an ounce, surging by about 18%
The forex markets turned mixed with an ultra-light economic calendar today, while the US is on holiday. Dollar is recovering slightly but it’s outperformed by Swiss Franc and Canadian. Yen is paring some of recent gains, as eyes turn to Wednesday’s BoJ policy decision. Sterling and Aussie are turning softer together with Euro. Overall, though,
The European Central Bank is expected to continue raising rates aggressively in the short-term as the euro zone economy proves more resilient than anticipated. Haussmann Visuals | Moment | Getty Images After China’s reopening and a deluge of positive data surprises in recent weeks, economists are upgrading their previously gloomy outlooks for the global economy.
EUR/USD’s 1.0820 structure has been broken. Eyes are on a test below 1.0770 that guards the risk of a drop towards 1.0700/20 support. As per the start of the week’s analysis, EUR/USD Price Analysis: Bears attacking the bullish H4 trendline support, the bears needed to break trendline support on the lower time frames, such as the 4-hour
The Central Bank of Iran is reportedly cooperating with the Russian government to jointly issue a new cryptocurrency backed by gold. Iran is working with Russia to create a “token of the Persian Gulf region” that would serve as a payment method in foreign trade, Russia’s news agency Vedomosti reported on Jan. 15. The token
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The AUDUSD moved above its highs from Monday near a 0.6949 yesterday and found support near that area in the Asian-Pacific session today before moving to a new high for the week at 0.69937. The move down in stocks and up in yields sent the price lower in the late London morning session, in the
Major currencies are back to being little changed, with the dollar’s slight losses now being recovered. It’s pretty much looking to be a snoozefest with it being a long weekend in the US as well. USD/JPY has seen a good run lower after the break under 130.00 last week but there might be some position
Gold and silver settled on a positive note in the international markets on Friday. Gold February futures contract settled at $1,923.35 per troy ounce, up by 1.29%, and the silver March futures contract was settled at $24.415 per troy ounce, up by 1.71%. Domestic markets also settled on a positive note. Gold February futures contract
Yen firms up against Dollar in Asian session today, after PPI report adds more bullets for BoJ to start tweaking monetary policy. Investors in Japan are also feeling the risk of stimulus exit, and push Nikkei down more than -1%. Nevertheless, Yen is overall mixed for now. Aussie and Kiwi are so far the firmer
Economists at Commerzbank explain why JGBs are yielding around 0.50% – and what that tells us about the BoJ. Born yesterday? “Because the impression arises that the BoJ’s YCC is changing along the lines of a ‘leaning against the wind’, selling pressure for JGBs does increase. The BoJ has to meet this pressure with increasing
The USDJPY has dipped to a new low after the better inflation readings from the University of Michigan. Looking at the daily chart, the price has moved below the 61.8% retracement of the move up from the 2022 low and trades at the lowest level going back to early June 2022. That level comes in
Gold is a pretty useless metal. Of all the gold that has ever been mined in the history of earth, only 10% has ever been used industrially. Yet no one has ever regretted buying the metal. For thousands of years starting way back in 5000 BC to present times, gold has found a place in
In this article DAL Follow your favorite stocksCREATE FREE ACCOUNT Delta Air Lines fourth-quarter profit and revenue topped expectations on Friday thanks to a strong finish to last year, but shares fell on the carrier’s outlook for the first quarter. Delta said it expects to earn 15 cents to 40 cents a share on an
USD/CHF retraced earlier gains after printing a daily high of 0.9316. Upbeat US economic data is bad for the greenback as the US Dollar weakens. USD/CHF Price Analysis: A break / daily close below 0.9300 would expose the pair to further selling pressure. The USD/CHF is trading below its opening price, though it failed to
Former FTX US President Brett Harrison has lashed out at Sam Bankman-Fried for manipulating and threatening colleagues who proposed solutions to reorganize FTX US’ management structure. Harrison shared his experiences with Bankman-Fried and FTX US on Dec. 14, explaining how he was hired “casually over text” in Mar. 2021 after working together at New York-based