Euro among top performers on Tuesday on ECB rate hike expectations. Pound under pressure amid risk aversion. EUR/GBP gains more than 170 pips during the last three trading days. The EUR/GBP accelerated the move to the upside and jumped to 0.8601, reaching the highest level since July 6. While the euro is among the best
The NZDUSD held resistance last week against the 200 hour MA. On Thursday, the run higher stalled ahead of the level. On Friday, the price moved right up to the level and backed off (after the core PCE data). On Friday, the selling was strong with the pair closing at the session lows. Today, the
About the most interesting item from the session was early on, with afternoon comments from White House Press Secretary Karine Jean-Pierre saying the White House is anticipating a slowing in jobs growth, and that employment data is going to ‘cool off’. For those awaiting the non-farm payroll report out of the US on Friday this
Gold prices inched up in early Asian hours on Tuesday, as the dollar eased off a 20-year high, offsetting pressure from expectations of the U.S. Federal Reserve keeping interest rates higher for longer to combat inflation. FUNDAMENTALS Spot gold XAU= ticked 0.1% higher to $1,739.14 per ounce, as of 0058 GMT. Prices hit a one-month
Dollar rises broadly in Asian session, extending the post-Powell rally. Risk-off sentiment is a factor giving the greenback another boost. At the same time, 10-year yield is back above 3.1% in Asia, giving Dollar another lift, and hammers Yen at the same time. The trend will likely continue for a while with an empty calendar
The U.S. economy is going to fall into a recession next year, according to Steve Hanke, a professor of applied economics at Johns Hopkins University, and that’s not necessarily because of higher interest rates. “We will have a recession because we’ve had five months of zero M2 growth, money supply growth, and the Fed isn’t
EUR/USD is aiming to sustain above the magical figure of 1.0000 for a fresh rally. The German HICP is expected to advance further to 8.7% amid the energy crisis. A decline in ISM Manufacturing PMI may weigh pressure on the DXY. The EUR/USD pair has displayed a minor rebound after hitting the immediate support near
Ripple Labs General Counsel Stu Alderoty has hit back at a recent opinion piece by Security and Exchange Commission chairman Gary Gensler, arguing that the regulator’s crypto market shakedowns aren’t protecting consumers. In an Aug. 28 opinion piece on the Wall Street Journal (WSJ) titled “The SEC Wants to Be America’s Crypto Cop,” Alderoty claimed
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The Nasdaq index has a high today of 12124.87. That did take the price back above the the indices 100 day at 12109.50, but not for the long. The price has rotated back to the downside reaching a new intraday lows at 11981.42. The current price is at 11997, down -144 points or -1.19%. Technically,
The EIA head Birol is no the wire saying that: Further Strategic Petroleum Reserve release not off the table. Stands by the IEA’s report that said no new investlments in oil and gas fields area needed if the world wants to achieve net zero report emissions by 2050 Russian oil production has not fallen as
Gold price in the national capital fell Rs 365 to Rs 51,385 per 10 grams on Monday reflecting a decline in international precious metal prices along with rupee depreciation, according to HDFC Securities. The yellow metal had closed at Rs 51,750 per 10 grams in the previous trade. Silver also plunged by Rs 1,027 to
Euro is staging a strong come back today, as supported by hawkish comments from ECB officials over the weekend. In short, a 50bps rate hike looks like that base case for ECB meeting next week, with some possibility of a 75bps hike. Dollar is reversing some gains in spite of risk-off sentiment. The clearer trend
Gold price recovers some ground, jumping from July 25 lows around $1720. Worldwide central bank hawkish rhetoric, weighed on market sentiment, a tailwind for gold price. Gold Price Forecast: It could test $1800 if buyers reclaim $1770; otherwise, it could fall towards $1700. Gold price bounced from five-week lows on Monday, amidst a downbeat market
Gold prices fell on Monday, as the dollar held on to gains following U.S. Federal Reserve Chair Jerome Powell‘s signal that the central bank will raise interest rates further to tame sky-high inflation. FUNDAMENTALS Spot gold fell 0.3% to $ U.S. gold futures were down 0.3% at $1,745.3. The dollar index held close to a
The USDCHF is moving to a new session low and at the lowest level since Monday. The 200 hour moving average is being approach at 0.95907. That moving average is near a low swing area between 0.9591 and 0.96046 (see renumbered circles). A move below that level would have traders targeting the 38.2% retracement of
South Korea says North Korea nuclear test not imminent, missile launch prep. continues Morgan Stanley neutral on CHF in the near-term, remains core bullish over longer timeframe Goldman Sachs forecasts the UK economy entering a recession in Q4 2022 Australia July retail sales +1.3% m/m (expected 0.3%) China coronavirus cases rising on the day again