NEW DELHI: Gold futures prices continued its slide after the duty cut while silver futures prices also saw profit booking after Reddit frenzy lost steam on Tuesday. Silver prices rocketed as retail investors, egged on by messages on Reddit, pile into the market in an attempt to push up prices. The retail investment frenzy in
Month: February 2021
Australian Dollar softens mildly after RBA expands asset purchases by another AUD 100B. Also, it pledges to keep interest rate unchanged at current level until at least 2024. On the other hand, New Zealand Dollar and Canadian Dollar are the relatively stronger ones. But for now, both are capped below yesterday’s highs. Euro would be
What you need to know on Tuesday, February 2: The American dollar appreciated sharply against most major rivals, with European currencies being the worst performers. The EUR/USD pair trades near a daily low of 1.2062 heading into the Asian session, despite upwardly revised Markit PMIs, and a worse than anticipated US ISM Manufacturing index. The
Between Jan. 30 and the early hours of Feb. 1, XRP price pumped 147%, reaching $0.76 which is its highest level in two months. The move seems to have been fueled by r/Satoshistreetbets, an off-shoot of r/Wallstreetbets. It seems that speculative social media group-based investing is becoming a trend so let’s take a look at
Swiss Franc’s selloff is a major focus in the forex markets today, in particular, as it breaks through a key support level against Sterling. The development somewhat drags down the Euro too. The Pound and Dollar are currently the stronger ones while commodity currencies are mixed. Stock markets are stabilizing with rebounds from Asia to
NY resistance stalls the rally. New lows On the topside, watch the 1.21000 area for intraday bias clues. Looking at the 5 minutes chart below, the midpoint of the trend move lower today comes in at 1.20995. Just below that is the falling 100 bar moving average at 1.20982. The natural resistance at 1.21000 adds
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The price of silver is rallying as the online trading movement fuelling the rise of unloved shares like GameStop took a shine to the precious metal. Silver futures jumped 11% on Monday to about $30 per ounce – an eight-year high – following strong gains over the weekend. On Twitter, #silversqueeze was trending as investors
A worker uses a hoist to assemble a car seat at the Lear Corp. manufacturing facility in Hammond, Indiana. Jim Young | Bloomberg | Getty Images U.S. economic growth will recover “rapidly” and the labor market will return to full strength quicker than expected thanks to the vaccine rollout and a barrage of legislation enacted
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The AUD/USD pair fell to a fresh 2020 low of 0.7591 last week, ending it with modest losses below the 0.7700 level. Bears could take their chances in a week where the Reserve Bank of Australia (RBA) is having a monetary policy meeting on Tuesday, Valeria Bednarik, Chief Analyst at FXStreet, briefs. Key quotes “On
The RBA will have its first meeting this year on Tuesday, followed by publication of the statement of monetary policy on Thursday. We expect all policy measures to stay unchanged this month. Policymakers could revise GDP forecast higher and the unemployment rate lower, given the better-than- expected economic data released recently. Yet, they would remain
The 100/200 hour MA is being tested The NZDUSD has tumbled lower over the last 5 hours as stocks hit the skids and risk off flows drive the price lower. Also helping was the high for the day stalled near an old swing area between 0.77224 and 0.72248. The price moved above that area on
Daily thread to exchange ideas and to share your thoughts Major currencies are little changed in general to start the new week, though there is a slight hint of a tilt towards risk-on sentiment as we see equities recover after the hammering on Friday last week. This comes as the retail trading frenzy starts to turn its
Silver surged at the week’s open, with futures topping $29 an ounce within minutes, as the the Reddit-inspired frenzy that roiled stock markets last week spills over into commodities. The extraordinary spike came after retail sites were overwhelmed with demand for bars and coins at the weekend. Outlets including Apmex, the Walmart of precious metals
Federal Reserve Chairman Jerome Powell testifies before the Senate Banking Committee hearing on “The Quarterly CARES Act Report to Congress” on Capitol Hill in Washington, December 1, 2020. Susan Walsh | Pool | Reuters Federal Reserve Chairman Jerome Powell has a few nerves to quell among market participants wondering when the central banks will start