NZD/USD appreciates as traders closely monitor signs of a potential recovery in China’s economy. Chinese President Xi Jinping announced on Tuesday that China will adopt more proactive policies in 2025 to stimulate economic growth. US weekly Initial Jobless Claims and S&P Global Manufacturing PMI for December will be eyed on Thursday. NZD/USD extends its gains
A horrific act of violence has shaken the heart of New Orleans, leaving a trail of unimaginable grief and sorrow. A man deliberately drove his car into a crowd, transforming a scene of normalcy into one of chaos and terror. At least 10 lives were tragically cut short, leaving families shattered and a community in
Gold February futures contracts at MCX opened flat on Tuesday at Rs 76,303/10 gram, which is up by 0.06% or Rs 43 while silver March futures contracts were trading at Rs 87,361/kg, down by 0.19% or Rs 170. Gold prices have tumbled by Rs 800/10 grams in the month of December so far while silver
XAU/USD is holding north of $2,600/ounce, but topside momentum remains limited. Another spat of risk-off market sentiment pushed Gold higher on the year-end market session. Global markets will largely be shuttered on Wednesday for the New Year’s holiday. XAU/USD caught a bid on a quiet Tuesday, rising back into $2,625.00 per ounce after taking a
Happy New Year Welcome to 2025! The clock has turned on the foreign exchange market and we’re onto the new charts. Here are the final closing levels for 2024 for the major pairs Euro: 1.0354 Japanese Yen: 157.21 British Pound: 1.2524 Swiss Franc: 0.9072 Canadian Dollar: 1.4380 Australian Dollar: 0.6188 New Zealand Dollar: 0.5582 US
Gold prices edged higher on Wednesday, the first trading day of 2025, following a strong performance in 2024, which marked the metal’s best annual growth in over a decade. As of 10:05 am, February gold futures were trading at Rs 76,814 per 10 grams on the MCX, up by Rs 66 or 0.09% from the
GBP/USD is positioned above the descending channel, suggesting a weakening bearish bias. The descending channel’s upper boundary acts as primary support near the 1.2540 level. The immediate resistance appears at its nine-day EMA at 1.2565 level. GBP/USD retraces its recent losses, trading around 1.2550 during the European hours on Tuesday. The daily chart analysis suggests
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
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