EUR/USD remains on the front side of the bullish cycle’s trendline. The 4-hour M-formation neckline resistance is key as bulls move in. As per the pre-open analysis, EUR/USD Price Analysis: Bulls under pressure as bears test commitments at 1.0600, there are prospects of an upside correction. Should the bulls commit beyond 1.0650, the 1.07s will be
Crypto exchange OKX witnessed service disruptions after primary infrastructure provider Alibaba Cloud announced a hardware failure in Alibaba Cloud’s Hong Kong data center. Alibaba Cloud Hong Kong IDC Zone C server went offline on Saturday at roughly 10 pm ET and failed to recover for over seven hours at the time of reporting. On-chain data
The USDCAD is moving to a new high for the day, and in the process is extending toward the high from December at 1.3699. The price just traded to 1.3293. Looking at the hourly chart, the price action today initially moved to the downside testing the rising 200 hour moving average (green line in the
It’s cold in Europe right now and that’s going to lead to another big week of draws in natural gas supplies. The good news is that inventories are still high and that’s buffeted by some LNG ships off the coast of Spain. Where it could start to get complicated is China coming back into the
soybean meal exports declined at a Compound annual growth rate (CAGR) of 5.4% in the last 20 years while domestic consumption grew at a CAGR of 8.3% at the same time. The domestic consumption growth for soybean meal is attributed to the increasing appetite for eggs, poultry meat, and fish which has resulted in an
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The AUDUSD is lower on the day now after rising in the early Asian session. The high price for the day fell short of the swing area between 0.6738 0.67437 (see red numbered circles and lower yellow area on the chart above). The high price could only reach 0.67353 before rotating back to the downside.
It doesn’t take any deep analysis to see what’s coming in the auto market. During the pandemic, there was a boom in auto sales and people paid way too much. Now the bills are coming due and governments are no longer stuffing consumer wallets. On top of that, interest rates are surging so the people
gold buying typically happens behind the scenes, the recent record-high purchases created a stir in the market and raises the question of whether central banks know more. Judging by their investment performance, we do not believe they know more. Instead, we see their behaviour as sending political statements to Washington, Berlin, or Brussels. Dating back
Risk sentiment took a U-turn last week after more hawkish than expected FOMC projections and, more important, ECB forward guidance. Euro ended as the biggest winner for the week, trained by Swiss Franc, and the Dollar. Australian Dollar was the worst performer, followed by Sterling, and then Kiwi. Canadian Dollar and Yen ended mixed. The
After a spectacular run in 2021, almost everyone at least superficially knows what nonfungible tokens (NFTs) are. Although not many people are aware that NFTs constantly get new entrancing functionality and use cases. This article will highlight the role of an exciting feature: unlockable content in NFTs. We will break down for you its advantages
The flight into the safety of the JPY is continuing with the USDJPY moving lower as stocks keep most of their declines. Looking at the hourly chart, the USDJPY tried to extend above a swing area going back to November 28 between 137.48 and 137.85 and the 50% of the range since November 21 during
Treasury yields tried to move up today but cracked back lower. That’s left: 2s -8.3 bps to 4.16% 10s +2 bps to 3.71% 30s +2.7 bps to 3.52% The first thing to note is the inversion of the yield curve, which is still at 69 bps despite today’s bull flattening. The second thing to note
New Delhi: Even as silver has had a volatile 2022, with the white metal seeing strong profit booking currently, it has managed to beat the yellow metal – gold. However, silver is not merely a precious metal as it has some industrial value too. The low industrial demand due to the global slowdown and drastic
Risk aversion weighed on high-beta currencies like the Australian Dollar. Global central banks hiking rates and eyeing additional increases sounded recession alarms, dampening investors’ mood. AUD/USD Price Analysis: Downward biased, after tumbling from weekly highs, heading to the 50-day EMA. The Australian Dollar (AUD) slides against the US Dollar (USD) amidst a dampened market sentiment
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