The EURUSD is trading the key technical levels to start the trading week. The initial move in the early European session saw the price moved down to test its 100 hour moving average (blue line on the hourly chart above). Buyers leaned against the level and pushed the price back higher. Recall, the 100 hour
The strength of the US dollar was the story of the year in the forex market once again in 2024 and it’s finishing strong today. The dollar slumped late in 2023 as the market saw rate cuts but they didn’t start until late in 2024 and now some analysts think they’re already done, while the
Gold delivered one of its best performances in a decade in 2024 recording an annual growth of 26%, fuelled by central bank purchases, geopolitical tensions, and expectations of accommodative monetary policies by global central banks, including the Reserve Bank of India (RBI). The yellow metal breached the Rs 80,000 per 10 gm mark this year,
EUR/USD may depreciate further as the short-term price momentum is weaker. The initial support appears at its two-year low of 1.0332, recorded on November 22. The nine-day EMA acts as immediate resistance at the 1.0417 level. EUR/USD recovers its recent losses from the previous session, trading around 1.0410 during the European hours on Tuesday. A
The USDJPY is trading in a modest range today at 59 pips vs the 22 day average (about a month of trading) at 139 pips. The price high came in at 158.064. That was just short of the high price from last week at 158.080. Sellers leaned and pushed the price mostly lower. The low
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
New Delhi, Gold, a safe-haven bet, is likely to continue its record-smashing journey in the New Year, rising to Rs 85,000 per 10 grams and even Rs 90,000 level in domestic markets if geopolitical tensions and global economic uncertainties continue. Also aiding the run is a dovish tilt in monetary policy and buying by central
Commodity currencies are starting the week with a modest recovery as Aussie, Kiwi, and Loonie attempt to pare steep losses from earlier in the month. Gains remain limited in the subdued holiday trading environment, but these currencies could see further upside if China’s NBS PMIs due tomorrow deliver an improved outlook for 2025. However, any
USD/JPY depreciates as traders assess the market sentiment of the BoJ raising interest rates in January. The Japanese Yen is set to decline more than 10% against the US Dollar in 2024. US Treasury yields fell by approximately 2% with 2-year and 10-year yields at 4.24% and 4.53%, respectively, on Monday. USD/JPY extends its losses
The GBPUSD moved higher into the US open, but has since reversed lower on risk-off flows (?). Stock in the US are getting hammered in pre-market trading. Admittedly, the declines are not being pushed by any news, except Friday was soft and today, the selling is continuing. Looking at the GBPUSD, the price moved up
A dark day is looming. Some time in the coming week, US President Joe Biden will reject a $14.9 billion takeover of US Steel by Nippon Steel on unconscionably shaky grounds. It will mark the end of the era of American free-market capitalism that has brought so much prosperity to the United States and the
Gold prices rose Rs 150 to Rs 79,350 per 10 grams in the national capital on Monday, according to the All India Sarafa Association. Traders said the potential for upside appears to be limited for gold in the short term, as the market participants are primarily focused on Trump’s tariff measures and economic policy, which
The forex markets remain subdued as traders maintain a cautious stance ahead of the New Year. European major are notably weaker, with Swiss Franc leading the declines. Euro is also under pressure, while Sterling has shown resilience, managing to avoid sharper losses. Meanwhile, Yen has staged a modest recovery, supported by easing US and European
Markets are struggling to find a reason to move too much in either direction ahead of the New Year’s market closures, which will see most global exchanges shuttered during the middle of the trading week. Here’s what you need to know heading into Tuesday, December 31 The US Dollar Index (DXY) churned in place on
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 February futures contracts at MCX opened slightly higher on Monday at Rs 76,727 per 10 gram, which is up by 0.24% or Rs 183 while silver March futures contracts were trading at Rs 88,967/kg, up by 0.09% or Rs 80. Gold prices fell by Rs 400/10 grams in the month of December so far
EUR/USD trades in a limited range above 1.0400 as volumes are low with investors enjoying holidays as the end of 2024 approaches. The Euro is poised to end the year with an almost 5.5% loss against the US Dollar due to the ECB’s dovish guidance and the potential trade war with the US. This week,
SPX outlook: critical levels to watch for traders and investors The SPX price index is navigating a crucial technical landscape, with several key levels and indicators shaping its trajectory. A closer look reveals resistance at 6,200, support near the anchored VWAP, and the unclosed Trump Gap at 5,780, offering actionable insights for traders and in
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