In a previous post on the GBPUSD, we discussed the breaking of the converged 100/200 moving averages and the swing area down to 1.24208 in GBPUSD . A further decline would target the upward sloping trendline and Wednesday’s low near 1.23974. Currently, the pair is testing this low and the trendline, with the recent low
Societe Generale Research likes short USD/CAD to express USD weakness over the coming weeks. “Our preferred way to express dollar weakness is probably through USD/CAD, because that’s where long USD positioning is most evident. If this week’s labour report could persuade the RBA’s Philip Lowe to be a little less dovish, long AUD would be
New Delhi, The gold price jumped Rs 480 to touch a lifetime high of Rs 61,780 per 10 gram in the national capital on Friday amid a strong global trend, according to HDFC Securities. In the previous trade, the precious metal ended at Rs 61,300 per 10 grams. Silver also climbed Rs 410 to Rs
Dollar is attempting to rebound in early trading sessions, as market sentiment is shaken by disappointing US retail sales data. Furthermore, a top Fed official has cautioned that interest rates could remain high for a more extended period than previously anticipated by the market. Nevertheless, the greenback continues to be one of the week’s worst
A sign for the European Central Bank (ECB) outside the bank’s headquarters in Frankfurt, Germany, on Thursday, Feb. 2, 2023. Alex Kraus | Bloomberg | Getty Images European Central Bank policymakers are reconsidering the path of interest rate hikes in light of last month’s banking turmoil, but remain committed to reining in core inflation. Contagion
In this article C Follow your favorite stocksCREATE FREE ACCOUNT Bloomberg Citigroup reported rising net income and better-than-expected revenue for the first quarter, boosting its stock in premarket trading Friday. Here is how Citigroup’s key metrics compared to expectations. $4.6 billion in net income versus $4.3 billion in the same period last year $21.45 billion
Hong Kong-based digital asset firm HashKey Group has launched a new wealth management platform geared toward professional and institutional investors. In an April 14 announcement, HashKey cited “significant demand from investors to access virtual assets” as the reason for its move into the wealth management space. Deng Chao, the CEO of the group’s venture capital
Share: USD/MXN retreats from intraday high, snaps two-day losing streak. Three-week-old descending trend line restricts immediate upside ahead of the key SMAs. RSI pokes short-term resistance line during eight-day-long bearish trend, suggesting return of upside momentum. Rising support line from early March, YTD low joins downbeat RSI to challenge Mexican Peso buyers. USD/MXN eases from
The USDCHF is down -1.82% this week or -165 pips. That is the biggest move lower in the pair since the week of November 7 when the pair fell -5.3%. The decline this week would be the 4th week in a row lower. That 4 week run took the price from 0.9317 during the week
The highlights of yesterday’s thread here are still the notable standouts with the difference being that the dollar is now weaker and contesting the technical breaks mentioned. US retail sales will add to the mix today and we will see if the greenback can stay afloat, or if we are headed for a stronger downside
Oil prices rose in early Asian trade on Friday, after falling 1% in the previous session, as the market weighed supportive supply conditions ahead of the International Energy Agency‘s monthly demand outlook. Brent crude futures rose 17 cents, or 0.2%, to $86.26 per barrel by 0035 GMT. West Texas Intermediate crude futures (WTI) rose 20
Dollar remains somewhat soft in the Asian trading session, though it hasn’t seen any follow-through selling. Hawkish FOMC minutes have partially offset the impact of consumer inflation data on the currency. The broader financial markets also lack a clear direction, as US stock indexes closed lower after initial rally. Benchmark treasury yields mostly reversed their
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Share: Silver price is poised for upward momentum, above $26.00. The rate of Change (RoC) remains bullish, but the RSI portrays XAG as overbought. Silver price advanced to a new YTD high at $25.96, though it fell short of cracking the $26.00 figure, which would have opened the door towards testing, last year’s peak, nearly
The USD is tumbling lower as major pairs make a break for it. The USD is now the weakest of the major currencies . The AUD remains the strongest. Looking at some of the major pairs. EURUSD is trading at the highest level in over a year now after breaking above the February high at
The Atlanta Fed Wage growth tracker moved up to +6.4% in March versus 6.1% in February.. The tracker is a three month moving average of the median wage growth. For people who changed jobs, wage growth increased by 7.3% versus 6.7% previously For people not changing jobs the wage gains were 5.9% versus 5.8% This
Gold rose to a more than one-year high on Thursday as more weak U.S. economic readings bolstered bets for a pause in interest rate hikes, with prospects of a mild recession also sending investors scurrying for the safe-haven metal. Spot gold was up 1.3% to $2,040.10 per ounce by 9:31 a.m. EDT (1331 GMT), its