GBP/USD Forecast: Additional losses likely with a violation of 1.2480 support GBP/USD has continued to edge lower toward 1.2500 early Thursday after having registered modest losses on Wednesday. The pair stays within a touching distance of the critical 1.2480 support and sellers could take action if that level turns into resistance. The greenback managed to
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Osmosis, a decentralized exchange (DEX) built on the Cosmos network, was halted just before 3:00 am EST on Wednesday after attackers exploited a liquidity provider (LP) bug to the tune of roughly $5 million. The bug was first identified in a Reddit post on the official Cosmos Network page. The user, Straight-Hat3855, brought attention to a “serious
The NZDUSD moved lower in the Asian session after rising up to a swing area between and 0.6490 and 0.6499 before the close yesterday (see red numbered circles and yellow area). The high price reached 0.6494. The subsequent move to the downside saw the price extend toward the 38.2% retracement of the move up from
Deutsche Bank on the possibility of intervention in USD/JPY “As USD/JPY hits the weakest yen levels in 20 years, there is a resurgence of interest in where officialdom, Japanese and/or American, might protest the yen’s depreciation?” DB notes. ‘The short answer is the official pain threshold to provoke direct currency intervention is still a long
Brent Crude has continued to surge with a huge spike seen during February-March 2022, mainly led by the Russia-Ukraine conflict. Since then, Brent Crude has broadly been consolidating between $116-95. On the monthly timeframe, we have observed Fibonacci Extension from the October 2018 peak to the March 2020 lows. Critical resistance for the commodity is
The main focus remains on Yen’s selloff today, on the back of widening yield spread between Japan JGB and other major benchmark treasuries. Meanwhile, Euro appears to be strengthening in general too. Traders are probably buying up the Euro in anticipation on a hawkish ECB policy decision and press conference tomorrow. The central should without
Most of the U.S. has been seeing just “slight or modest” economic growth over the past two months or so, according to a Federal Reserve report released Wednesday. While all 12 Fed districts reported continued growth, the central bank’s periodic “Beige Book” indicated that four of the regions showed “that the pace of growth had
Overlapping of the 200-EMA with the cable price adds to the consolidation filters. The Darvas Box formation is hitting for an extreme squeeze in volatility. A 40.00-60.00 range by the RSI (14) is indicating the unavailability of momentum in the counter. The GBP/USD pair is oscillating in a narrow range of 1.2530-1.2550 in Tokyo. On Wednesday,
The New York State Department of Financial Services (DFS) on Wednesday released regulatory guidance for U.S. dollar-backed stablecoins issued by DFS-regulated entities. According to a DFS statement, it is the first regulator in the United States to impose such expectations on a stablecoin issuer. The requirements in the guidance concern redeemability, reserves and attestation. They
The USDCHF moved higher into the US session and in the process moved above the 38.2% of the last trend move lower that saw the pair moved from 1.0063 to 0.95442 (on May 27). Since that bottom, the price consolidated in a narrow range between 0.9544 and 0.9669 and traded above and below the 100/200
Headlines: Markets: EUR leads, JPY lags on the day European equities lower; S&P 500 futures down 0.4% US 10-year yields up 3.3 bps to 3.00% Gold flat at $1,852.03 WTI crude up 1.0% to $120.58 Bitcoin down 3.1% to $30,364 The USD/JPY march continues as the pair tests waters above 134.00 in European morning trade,
Gold prices in the national capital on Wednesday inched up by Rs 30 to Rs 50,818 per 10 grams, according to Securities. In the previous trade, the precious metal settled at Rs 50,788 per 10 grams. Silver also zoomed by Rs 133 to Rs 61,717 per kg from Rs 61,584 per kg in the previous
Weakness in Yen and Swiss Franc are both staying under selling pressure today, and there is not clear sign of bottoming yet. Sterling is currently the stronger one for the week but there is no clear breakthrough. Aussie and Loonie are digesting some gains but remain firm. Meanwhile, Dollar is mixed for now, together with
A ‘help wanted’ sign is displayed in a Manhattan store on May 6, 2022 in New York City. Spencer Platt | Getty Images Job creation at companies decelerated to the slowest pace of the pandemic-era recovery in May, payroll processing firm ADP reported Thursday. Private sector employment rose by just 128,000 for the month, falling
A sign above the entrance to the Credit Suisse Group AG headquarters in Zurich, Switzerland, on Monday, Nov. 1, 2021. Thi My Lien Nguyen | Bloomberg | Getty Images Credit Suisse said on Wednesday that it is likely to post a loss for the second quarter as the war in Ukraine and monetary policy tightening