WTI surged nearly $2 to reach $45 for the first time since early March on Tuesday. A confluence of risk on factors, including decreased US political uncertainty and vaccine, strong data and OPEC+ optimism are all helping. WTI trades with gains of nearly $2 or 4.5% on Tuesday, taking the American benchmark for sweet light crude
Month: November 2020
Volatile NY session The EURUSD traded to the highest level since November 9th taking out last week’s highs in the process between 1.1890 and 1.18931. The high price reached 1.19053. Then all hell broke loose. The Markit PMI data came better than expected and there was a run into the USD. That move saw the
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do
ETH 2.0’s beacon chain genesis has been confirmed for Dec. 1, following the transfer of 524,288 Ether from 16,384 validators into the ETH 2.0 deposit contract since it went live on Nov. 4. Despite early concerns stemming from low staking participation, transfers to the deposit contract rapidly increased over the past day — with more
Gold prices eased on Monday as drugmaker AstraZeneca injected fresh optimism into the race for a COVID-19 vaccine, bolstering appetite for riskier assets and overshadowing support for bullion from a weaker dollar. Spot gold had fallen 0.4% to $1,863.21 per ounce by 1328 GMT and U.S. gold futures were 0.6% lower at $1,861.40. Britain‘s AstraZeneca
Sterling opens the week on firm footing as lifted by UK’s trade deal with Canada. There’s also report on increasing expectation of a deal with EU to be sealed this week. New Zealand Dollar is also firm after strong Q3 retail sales rebound. On the other hand, Dollar, Yen and Swiss are trading generally lower,
The Reserve Bank of Australia (RBA) Deputy Governor Guy Debelle said that he doesn’t expect a rate hike for three years, in a scheduled speech on “Monetary Policy in 2020” at the Australian Business Economists webinar. Additional quotes Policy action has reduced borrowing costs Bond buying program means A$ is lower than it otherwise would
Regardless of whether your trading stocks, forex, or futures, it’s often best to keep it simple when it comes to technical indicators. A technical indicator offers a different perspective from which to analyze the price action. Some, such as moving averages, are derived from simple formulas and the mechanics are relatively easy to understand. Others,
A look at the major currency pairs and what to expect over the coming week in terms of the candlestick patterns and structure formations. Trading Forex using candlestick patterns and structure formations. Foreign exchange trading can be a very lucrative solution to making money online. It is imperative to have the required knowledge and skill
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The dollar is keeping weaker across the board so far today For bank trade ideas, check out eFX Plus EUR/USD is once again testing the 1.1900 handle, reaching a high of 1.1906, as the dollar is seen weaker so far in European trading today. Risk remains in a better spot with European equities posting a
Forex news from the European trading session – 23 November 2020 Headlines: Markets: GBP leads, USD lags on the day European equities higher; E-minis up 0.5% US 10-year yields up 3.3 bps to 0.857% Gold down 0.2% to $1,868.10 WTI up 1.1% to $42.90 Bitcoin up 0.1% to $18,610 Yet another hopeful Monday. That seems
Zinc prices fell 1.46 per cent to Rs 222 per kg in futures trade on Monday as speculators reduced their exposure taking negative cues from spot market. On the Multi Commodity Exchange, zinc contracts for November delivery traded lower by Rs 3.30, or 1.46 per cent, at Rs 222 per kg in 1,097 lots. Analysts
Dollar’s selloff resumes today as stocks rallies on more positive news on coronavirus treatment. British drugmaker AstraZeneca said it’s vaccine could be around 90% effective, and as many as 200 millions doses could be ready by year end. The news also lifts Sterling to be the best performer so far today. New Zealand Dollar and Euro
USD/CAD is pushing lower at the start of the week. WTI is trading at its highest level in more than two months near $43. US Dollar Index extends slide toward 92.00 ahead of mid-tier data. The USD/CAD pair is edging lower on Monday as the rising crude oil prices help the commodity-related CAD outperform its
The AUDUSD pair remains within the up and down 12-day trading range Since breaking above 0.7221 on November 5 (taking out the high from November 4), the pair as traded between that level and the high at 0.73392 (around 120 pips). We are in day number 12 since that break. Over that time period, the price retested the 0.7221 level on
Third quarter economic growth in Singapore rebounded: Q3 GDP +9.2% q/q (seasonally adjusted rate) vs. expected 9.5%, prior 7.9% Q3 GDP -5.8% y/y vs. expected -5.8%, prior -7.0% More: The Ministry of Trade and Industry has revised their 2020 GDP growth forecast to -6.5% to -6% (previous forecast -7% to -5%) forecasts 2021 GDP growth of
Crypto analytics firm CipherTrace announced on Friday that it had filed two patents for technology capable of tracing transactions for privacy coin Monero. In a Nov. 20 blog from CipherTrace, the firm stated that the patents would include forensic tools to explore Monero (XMR) transaction flows to assist in financial investigations, statistical and probabilistic methods
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