China’s coronavirus crisis weighs on WTI price, on speculations of lower demand. The Eurozone threatening to impose a cap on Rusian and a buoyant US Dollar keeps WTI defensive. WTI Price Analysis: A daily close below $80.00 could pave the way for a YTD low re-test. Western Texas Intermediate (WTI), the US crude oil benchmark,
The USDCAD has moved to a new session low, and in the process is moving further away from its 200 hour moving average at 1.33502. The price has traded above and below that moving average in trading today. However the 50% of the move up from the cycle low from November 14 at 1.33598 has
The evidence is all in the data these days and while consumer price inflation remains elevated, there are tentative signs that inflation pressures are starting to cool in Europe – at least for the time being. Let’s dig straight into the recent economic releases. France PMI “Rates of both input cost and output price inflation
New Delhi: Gold prices were trading flat on Friday, headed for a weekly gain on the back of the weak US dollar after dovish tilt in Fed’s stance. The Fed’s signalling of a slowdown in the pace of rate hikes took pressure off global peers to keep on raising rates and offered relief to emerging
Overall, the markets are quiet in holiday mood today. Dollar remains the worst performer for the week, followed by Canadian. Next is Euro, which is receiving no support from the slight improvement in Germany consumer sentiment. Sterling is currently the strongest one for the week. New Zealand Dollar follows as second as supported by retail
NZD/USD has broken through the key 0.6235 resistance level and looks solid, supported by higher rates. But beware of hawkish Fed rhetoric, economists at ANZ Bank note. There is still uncertainty “We do think higher interest rates and the RBNZ’s hawkish stance are, on balance, a positive for the Kiwi, but newspapers are awash with
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Developers at the Ethereum foundation decided on eight Ethereum Improvement Proposals (EIP) to explore for the Shanghai update, the next major upgrade after the Merge and its move to proof-of-stake consensus, announced the Ethereum Foundation on Nov. 24. On a weekly call, developers decided what features should be included in the next hard fork, which will be
The USDJPY is working on its 3rd day down since peaking and closing near the corrective highs on Monday. That high stalled near the 50% of the move down from the last test of the 100 hour MA on November 9. The low on Tuesday held support near the broken 100 day MA (blue overlay
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Oil prices fell on Thursday, extending losses from the previous session, as fears of supply disruption eased on news that the Group of Seven (G7) nations were considering a high price cap on Russian oil. A greater-than-expected build-up in U.S. gasoline inventories added to downward pressure. Brent crude futures had slid 43 cents, or 0.5%,
Yen rises broadly in quiet trading today, with help from falling US and European benchmark yields. Sterling is following as next strongest, and then Kiwi. On the other hand, Swiss Franc is the worst performer, followed by Dollar, Canadian. Euro and Aussie are mixed for the moment. As the US markets are on holiday today,
NZD/USD bears could be about to make their moves. Bulls eye a run to test 0.6300 while above 0.6250. As per the prior analysis, NZD/USD Price Analysis: The Bird is in full flight, whereby the bulls were creeping higher in Asian trade despite the ground it had already made since the central bank events in the week,
The USDCAD has seen moves up and down today. The price started the day below the 100 hour moving average (blue line in the chart above), but failed as support buyers leaned near the 50% midpoint of the range over the last few weeks. Since that initial dip the price has traveled above and below
The pair is the main mover so far on the day, with it being down 0.5% to 138.80 levels. The dollar was mostly softer across the board but has recouped some losses against other major currencies as we get into European trading. Going back to USD/JPY, the thing to note is that the pair has
Gold prices rose on Thursday after the minutes from the US Federal Reserve’s latest policy meeting signalled slower interest rate hikes. The majority of the US Fed policymakers agreed it would ‘likely soon be appropriate’ to slow the pace of interest rate hikes, the readout of the November 1-2 meeting showed. Gold futures on were
Dollar is sold off broadly after FOMC minutes indicated that a “substantial majority” of policymakers judged that slowing rate hike would “soon be appropriate”. For now, New Zealand Dollar is the strongest for the week, supported by RBNZ’s big rate hike. It’s followed by Sterling, and then Swiss Franc. Canadian Dollar and Yen are lagging