The EURUSD is trying to build another upside move today. The price action in the Asian session moved back above its 200 hour moving average (green line). That is nothing new over the last few days as the price traded above that moving average on Thursday last week, and then on a number of occasions
Democrats increasingly look at this chart as a second-derivative on US inflation. It’s Biden’s approval rating: The trend is not his friend and various strategies including messaging like ‘Putin’s price hike’ or blaming the Fed aren’t having the desired effect. Janet Yellen is likely going to be sacrificed to the inflation gods after the global
Oil prices rose almost $2 on Tuesday on high summer fuel demand while supplies remain tight because of sanctions on Russian oil after its invasion of Ukraine. Brent crude rose $1.80, or 1.6%, to $115.93 a barrel by 1209 GMT. The U.S. West Texas Intermediate (WTI) crude contract for July, which expires later on Tuesday,
Yen’s selloff accelerates today as US stocks are set to stage a rebound after the long weekend. For now, Euro is the strongest one with help from rebound against Sterling and Swiss Franc. It’s followed by Canadian Dollar, which is supported by slightly better than expected retail sales data. On the other hand, Kiwi and
U.S. Federal Reserve Board Chairman Jerome Powell takes questions after the Federal Reserve raised its target interest rate by three-quarters of a percentage point to stem a disruptive surge in inflation, during a news conference following a two-day meeting of the Federal Open Market Committee (FOMC) in Washington, June 15, 2022. Elizabeth Frantz | Reuters
Welcome back to our deep dive series where this time we focus on the consumer sector with Walmart (WMT). As per usual we will look at both fundamental and technical valuation methods to arrive at our 12-month price target for the retailer giant company. We also take into account the overall market cycle and macroeconomic
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Thinking about using automated robots in your trading? 25 year Forex veteran Greg Secker and Pete Burnett look at where these robots, such as MT4 expert advisors, came from, and why it makes more sense to practice with a strategy first – then systemise it, rather than rely on black-box systems. The Link for the
Ethereum co-founder Vitalik Buterin has criticized the controversial Bitcoin (BTC) stock-to-flow (S2F) model, popularized by a pseudonymous Dutch institutional investor known as PlanB. The BTC stock-to-flow model gained a lot of attention during the bull run as it got several price predictions right, however, the model deviated on a number of occasions during the bull market as well. Buterin joined
The USDCAD is modestly lower today after peaking near the May 2022 high on Friday (highest level since November 2020). The price action today has seen a continuation of the move lower. The pair has moved below the swing high from last Wednesday and the down to a swing area between 1.29700 and 1.29798 (see
RBA (read from the bottom up for the chronology): Other: The focus of the early part of the session was on the Australian dollar, Reserve Bank of Australia Governor Lowe speaking, and then the minutes of the RBA June meeting. This is how it played out (there’s a “but” at the end): AUD/USD inched a
Gold prices edged up on Tuesday as the dollar eased, even as investors kept a keen eye on posturing from major central banks on interest rate hikes for a clearer outlook for bullion. FUNDAMENTALS * Spot gold was up 0.2% at $1,841.01 per ounce as of 0047 GMT. U.S. gold futures firmed 0.1% to $1,843.10.
Overall markets are rather steady in Asian session today. Even the free falling crytocurrencies are stabilizing slightly. Major Asian indexes, except Nikkei, are treading water. Dollar and Yen are softening slightly with Sterling. Aussie and Euro and mildly higher. But most major pairs and crosses are just stuck inside Friday’s range. Sterling would be a
The exterior of the Marriner S. Eccles Federal Reserve Board Building is seen in Washington, D.C., June 14, 2022. Sarah Silbiger | Reuters After years of being a beacon for financial markets, the Federal Reserve suddenly finds itself second-guessed as it tries to navigate the economy through a wicked bout of inflation and away from
GBP/USD remains directed towards 1.2300 but bulls catch a breather. US dollar licks its wounds amid a risk-friendly market environment. BOE Mann’s hawkish comments underpin the GBP, focus shifts to Powell. GBP/USD is looking to build on the previous day’s recovery, as bulls keep their sight on the 1.2300 barrier amid an upbeat market mood. Risk
The EURUSD is higher on the day, moving off an Asian session low at 1.04733. The high price extended to 1.05454 in the European morning session. Looking at the hourly chart, the price moved to the upside was able to extend above its 200 hour moving average (green line in the chart above currently at
Headlines: Markets: AUD and NZD lead, USD lags on the day European equities higher; S&P 500 futures up 0.8% Gold down 0.1% to $1,837.62 WTI crude up 0.7% to $110.30 Bitcoin up 1.6% to $20,875 With it being a long weekend in the US, markets are seeing less appetite to stray away from Friday’s bit-part