Sterling rises together with commodity currencies today. Trading has been rather subdued with most markets closed. But activities should come back to life in US session. US futures point to sharply higher open with DOW likely to ride on the sentiment to extend recent record runs. Euro and Dollar are currently the weakest ones, followed
Month: April 2021
US ISM Non-Manufacturing PMI Overview The Institute of Supply Management (ISM) will release the Non-Manufacturing Purchasing Managers’ Index (PMI) – also known as the ISM Services PMI at 14:00 GMT this Wednesday. The gauge is expected to edge higher to 58.5 in March from 55.3 previous. The employment sub-component is also expected to have risen
Good morning/afternoon/evening and welcome to Monday! Its a market holiday in New Zealand and Australia today and across most of Europe and the UK which will thin trading out. Hong Kong, Singapore, Japan and China are in. I’ll be popping in from time to time before back to normal on Tuesday. On the data calendar
100 hour moving average, 100 day moving average and 200 hour moving average tested on the AUDUSD. The AUDUSD is down trading at new session highs after erasing earlier declines that saw the pair move to the lowest level since December 2020. The rise has now taken the price up to a cluster of moving average levels including the 100
LONDON/DUBAI: OPEC+ will debate two key options for oil policies from May and beyond, including a rollover of existing cuts and a gradual increase of production, three OPEC+ sources said. The Organization of the Petroleum Exporting Countries (OPEC) and allied producers, a grouping known as OPEC+, are cutting output by a little more than 7
Gold’s double-bottom reversal on the 1D chart to meet strong offers at $1736. The RSI stays below the midline, pointing to the limited upside. Risk-on mood persists amid Easter Monday trading, eyes on US ISM Services. Gold (XAU/USD) is struggling to extend its last week’s recovery on Easter Monday, as outstanding US NFP data-induced risk-on
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Over the last year, the decentralized finance space has been making waves in the financial sector, building on blockchain technology to decentralize a multitude of banking services. The adoption of DeFi services has been steadily on the rise, and all kinds of assets are making their way onto the blockchain. With nonfungible tokens popularizing digital
European markets will be closed on next Monday as well It will also be a holiday in Australia, New Zealand, and China so expect the Asian and European trading sessions to be extremely quiet with liquidity conditions severely impacted. Besides that, just take note that US markets will return on Monday next week. Technically, Treasuries
1.25387 to 1.25474 is key swing area WTI crude oil is trading up $2.33 as production cuts in OPEC+ will remain in place (at least for now). That is a gain of 3.88%. The price reached a high of $61.59 so far. The move higher has helped the CAD move higher (the USDCAD lower). The
After beginning Calendar 2021 with a bang, the commodity market seems to have taken a breather after a decent rally. Gold and silver prices have eased 9-15 per cent from last year’s peaks on signs of economic recovery amid the Covid-19 vaccination drives, and moved in the ranges of $1,678-1,954 and $24-29 per ounce, respectively.
EUR/USD regains downside traction near 1.1750. US Nonfarm Payrolls surprised to the upside in March. The US unemployment rate eased to 6.0% last month. The single currency trades on the defensive and motivates EUR/USD to shed some ground and revisit the mid-1.1700s on Good Friday. EUR/USD fails to re-test 1.1800 EUR/USD so far reverses two
US jobs report is due at the bottom of the hour It’s non-farm payrolls Friday but it’s also Good Friday and that means most markets are closed. The jobs report will land in a thin market and if you’re trading it, beware of light liquidity and exaggerated moves. The consensus estimate is +650K and there’s
Up $2.29 or 3.87% The price of crude oil futures are settling at $61.45 or up $2.29 or 3.87%. The high price reached $61.75. The low extended to $58.86. OPEC+ met today. A summary can be found HERE. Technically, the price moved back above the 100/200 hour MA in the run to the upside but