The GBPUSD moves below 200 hour ma, trend line but finds support at swing area Earlier in the day, the GBPUSD was finding support buyers near the 200 hour MA. However, if broken, the downside was vulnerable. I wrote: That 200 hour moving average will be a barometer for buyers and sellers going forward on the downside.
Month: March 2021
Calmer tones stay the course in early trades German DAX futures +0.3% UK FTSE futures +0.5% Spanish IBEX futures +0.4% European equities are largely brushing aside worries from the AstraZeneca vaccine and problems with the overall vaccine rollout in the region. As things stand, broader market sentiment is still the key overriding factor – for
By Tapan Patel Commodity prices traded mixed on Tuesday continuing the trend from the previous session as the bullion prices continued upside extending the previous week’s rally while crude oil prices traded lower on demand growth concerns. Base metals witnessed mixed trade amid China pollution curbs and policy tightening. Here is a look at how
Markets remain cautious overall. While DOW and S&P 500 hit new record highs overnight, the gains were just modest. Gold and WTI oil are also both stuck in tight range, awaiting breakout. In the currency markets, Sterling is apparently under some pressure from cross selling against other European majors. Euro and Swiss are currently the
Coronavirus infections are spreading exponentially once again in the country, up 20% in the last week, Germany’s Robert Koch Institute (RKI) epidemiologist Dirk Brockmann told ARD television on Tuesday. Key comments “We are exactly on the flank of the third wave. That can no longer be disputed. And at this point we have eased the
Bitcoin (BTC) price has rallied 22.5% in March, but as the price moved up, some buyers began to use excessive leverage, according to derivatives data. Meanwhile, futures open interest reached a $22.5 billion record-high, causing investors to question how sustainable the current rally is. Being optimistic, especially during a bullish market, can’t be deemed worrisome.
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German Dax has back to back declines after 4 consecutive record closes last week The European major indices are ending the day mostly lower. Italy’s FTSE MIB bucked the trend with a modest gain. The German Dax fell for the second consecutive day after closing at record levels for the first four days of last week’s trading.
WTI down 0.5% on the day Oil fell as low as $64.13 but bounced more than a dollar from the lows. It had been as high as $66.40 in Asian trade. Today’s candle is pretty much par for the course across markets with not much moving. USD/CAD is also flat today after Friday’s big drop.
Gold prices ticked up on Monday as US Treasury yields backed off recent highs, countering pressure from a resilient dollar, as investors awaited further policy cues from the Federal Reserve‘s policy meeting this week. Spot gold rose 0.1% to $1,727.80 per ounce by 10:32 a.m. EDT (1432 GMT). US gold futures rose 0.5% to $1,727.90
Trading is generally subdued in the markets today. European indices are stuck in very tight range while US futures point to slightly higher open. Both gold and oil are bounded in consolidative trading. Bitcoin was short to new record high but quickly reversed. In the currency markets, New Zealand and Canadian Dollar are the strongest
U.S. President Joe Biden attends an event where he announced administration plans to double its order of the single-shot Johnson & Johnson coronavirus vaccine, procuring an additional 100 million doses, in the South Court Auditorium at the White House in Washington, March 10, 2021. Tom Brenner | Reuters The change in emphasis for fiscal stimulus
XAG/USD bulls chipping away at daily resistance within a firming backdrop for commodities. Monthly, weekly time frames conflicting as markets adopt the greenback and await the FOMC. Silver has been chipping away at the upside as the bulls look to prior daily resistance and the US dollar makes small progress in prospects of breaching the
200 hour MA/swing area stalls the rally today The EURGBP spent most of the trading week trading up and down with a base near 0.8547 to 0.85508 and a ceiling around the 0.8580 area. The 100 hour MA was also a resistance level that turned back the price yesterday and today….until it didn’t. The “didn’t”
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NEW DELHI: Gold and silver future prices rose on Monday tracking the trend in the international market as the passage of a US stimulus bill stoked inflation risks, although a resultant bounce in Treasury yields kept gains in check. Rising Covid cases in India also helped its rise. Gold is generally considered a hedge against
The focus of this week’s FOMC meeting is how the Fed would respond to the rising Treasury yields and the rapid improvement in the economic conditions. We expect policymakers to upgrade the GDP growth forecasts and attribute rising yields to improvement economic confidence. Yet, the tone should remain cautious. All the monetary policy measures will
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