USD/JPY witnesses heavy selling for the fourth straight day and drops to a one-and-half-month low. The USD selling bias, the narrowing of the US-Japan yield differential continue to exert pressure. Ascending trend-line breakdown now supports prospects for a further near-term depreciating move. The USD/JPY pair witnessed some selling pressure for the fourth successive day on
US 10 year yield trading to new lowsThe US 10 year yields are trading at session lows of 2.624%. The high yield for the day reached 2.728%. The yield has moved below swing lows from April 13 and April 14 at 2.648% and trades at the lowest level since April 7. The next target comes
Iran’s deputy Foreign Minister for Political Affairs and head of the country’s negotiations to reboot the nuclear deal (JCPOA). Says “We shared our proposed ideas, both on substance & form, to pave the way for a swift conclusion of Vienna negotiations which were aimed at fixing the damaging complicated situation caused by the U.S. unilateral
Gold prices were flat on Friday and poised for a fourth consecutive monthly drop, as an elevated U.S. dollar and aggressive monetary policies from top central banks continued to erode demand for bullion. FUNDAMENTALS * Spot gold was flat at $1,755.59 per ounce, as of 0045 GMT. U.S. gold futures edged up 0.1% to $1,752.70
Neel Kashkari, Minneapolis Federal Reserve Brendan McDermid | Reuters If you’re debating whether or not the U.S. is in a recession, you’re asking the wrong question, according to a top Federal Reserve official. “Whether we are technically in a recession or not doesn’t change my analysis,” Neel Kashkari, president of the Federal Reserve Bank of
In this article AMZN Amazon shares climbed more than 13% in extended trading on Thursday after the company reported better-than-expected second-quarter revenue and gave an optimistic outlook. Here’s how the company did: EPS: Loss of 20 cents Revenue: $121.23 billion vs. $119.09 billion expected, according to Refinitiv Here’s how other key Amazon segments did during the
Gold price is set for a fresh upside rally after breaching the demand zone in a $1,768.32-1,772.22 range. A higher US PCE print indicates that rising interest rates are failing to slow down the inflation rate. The US ISM Manufacturing PMI is expected to remain lower at 52 vs. 53 reported earlier. Gold Price (XAU/USD)
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In this video, I share a simple strategy to SHORT CADJPY dominance on pullback. #cadjpy #cadjpyforecast #forextrading Please Like, Share, Subscribe?
Old school technical analysis says that price itself is the most inportant technical indicator. Some claim that the most important part of technical analysis lies in the price itself, as it travels through time. ETH, in terms of technical analysis, is also a potential bear flag. Bear flags extend/continue a downward trend. The bear flag
Official PMIs come from the China National Bureau of Statistics and the China Federation of Logistics and Purchasing. For July: Manufacturing 49.0, its lowest in 3 months and back into contraction expected 50.3 and prior 50.2 China’s NBS attributes the result, according to statements reported in State media (Xinhua), to traditional production off-peak period, insufficient
Gold lost its glitter due to a strong US greenback and hints of more interest rate hikes from the US Federal Reserve that pushed investors away from the precious yellow metal. The London spot gold corrected more than 18 percent from its recent high of $2070 which it hit in March, to a near one
In an aerial view, shipping containers sit idle at the Port of Oakland on July 21, 2022 in Oakland, California. Truckers protesting California labor law Assembly Bill 5 (AB5) have shut down operations at the Port of Oakland after blocking entrances to container terminals at the port for the past four days. An estimated 70,000
In this article INTC Intel shares sank as much as 10% in extended trading on Thursday after the chipmaker reported second-quarter results and quarterly and full-year guidance that fell short of analysts’ expectations. Here’s how the company did: Earnings: 29 cents per share, adjusted, vs. 70 cents per share as expected by analysts, according to
GBP/USD extends its gains to two straight weeks, gains some 1.49%. From a daily chart perspective, the GBP/USD is still downward biased, facing solid resistance around 1.2200. GBP/USD Price Analysis: Unless buyers reclaim 1.2245, the pair remains tilted downwards. The British pound finished the week on the right foot and recorded its second consecutive week
The major US indices are pushing the early session highs after a dip lower after the open. Dow industrial average is making new highs up to 32769.29. S&P reached a new high at 4122.80. The prices up 48.72 points or 4121.21 NASDAQ index reached a new high of 12356.91. It currently trades at 12352.96 up
With the month of July ending today, next week will start the new trading week for August. Still a summer month, trading may be impacted by vacation/holidays. Nevertheless there is enough data events scheduled including key jobs reports that of Canada and US, and interest rate decisions by the Reserve Bank of Australia and the