Commodity exchange MCX has decided to extend its software support contract with 63 moons technologies, the former promoter of the bourse, after repeatedly failing to transition to a new trading platform within stipulated deadlines. In separate early morning stock exchange filings, Multi Commodity Exchange of India Ltd and 63 moons said the contract has been
In the currency trading arena, there’s been a notable lack of movement today. Gold has caught the market’s attention, sliding past the 1900 psychological level. Yet Dollar remains relatively undisturbed, also showing no significant response to the latest jobless claim data and Q1 GDP final figures. Likewise, the release of higher-than-anticipated German CPI data sparked
David Leal installs a tailpipe on a vehicle at Muffler Pros on April 12, 2023 in Hollywood, Florida. Joe Raedle | Getty Images The U.S. economy showed much stronger-than-expected growth in the first quarter than previously thought, according to a big upward revision Thursday from the Commerce Department. Gross domestic product increased at a 2%
Cryptocurrency laws in the United States should be “reserved” and not regulate the technology as though every use is financial, argues a commissioner at the U.S. Securities and Exchange Commission. On June 29, Commissioner Hester Peirce — dubbed “Crypto Mom” — appeared remotely at Australian Blockchain Week and was asked how she would regulate crypto, answering:
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The AUDUSD market shifted further into seller control today following the closes below the 200-day Moving Average (MA) on Monday and Tuesday, at 0.66905. Yesterday, the pair closed slightly beneath the MA at 0.6686, while Monday’s closing price was 0.6674. Today’s high reached 0.66887 ahead of monthly Australia’s Consumer Price Index (CPI) data release. The
The most important time of the session was once again the People’s Bank of China’s yuan reference rate setting. Expectations for the mid-rate were around 7.2540. The PBOC shrugged those off with a much stronger CNY, setting USD/CNY at 7.2208. This sent a panicked shock wave of selling through USD/CNH which fell right of the
Bullion traded in the green on the MCX in Wednesday’s early trade aided by an almost flat Dollar Index (DXY). The DXY was hovering around 102.50, though the bias was positive. Meanwhile, gold and silver took the opposite trajectory on Comex. While the yellow metal traded on a positive note, silver futures declined. Both gold
Australian Dollar is experiencing a wild ride this week, tumbling in Asian trading hours due to lower-than-anticipated CPI results. The “encouraging” data has raised speculation about a potential pause in RBA’s tightening plans next week. There are also talks that the hike month was the last in the cycle. This decline is also dragging down
Share: Silver Price takes offers to reverse late Wednesday’s corrective bounce while reversing from 50-SMA. Five-week-old descending support line in the spotlight amid looming bear cross, steady RSI. XAG/USD needs to cross convergence of 200-SMA, 100-SMA to retake control. Silver Price (XAG/USD) drops to $22.70 as it portrays one more U-turn from the 50-SMA hurdle
The NZD is the weakest of the major currencies. The NZDUSD is the biggest mover. The pair started it’s shoved to the downside after breaking below its 200 day moving average. I spoke to that level in the post andvideo released yesterday (CLICK HERE). The momentum to the downside was held by weaker Australian CPI
The panel discussion in Portugal is now over. The US dollar moved higher. Stocks moved a bit higher. Yields were mixed. EURUSD: The EURUSD eventually cracked below its 200 and 100-hour moving averages, and moved toward the low of the value area support near 1.0891 (see red box on the chart below). The low price
Gold prices extended their slide on Wednesday to hit their lowest in 3-1/2 months on bets for interest rates remaining higher for longer, while traders positioned for a speech by Federal Reserve Chair Jerome Powell. Spot gold fell 0.4% to $1,905.75 per ounce by 9:23 a.m. EDT (1323 GMT), hitting its lowest since mid-March. U.S.
Forex markets today are leaning towards mild risk-off sentiment, with traders cautiously awaiting comments from leading central bankers at the ECB forum. This cautious sentiment, interestingly, does not seem to be having a substantial effect on the stock or bond markets yet. British Pound is experiencing fresh selling, despite expectations of hawkish messages from the
Share: Economists at Wells Fargo remain somewhat hesitant on the medium term prospects for the British Pound and Canadian Dollar. Aggressive BoE easing next year should restrain the UK currency For the Pound, we expect that the Bank of England’s restrictive monetary policy will not prove supportive given slow growth and elevated inflation, while aggressive