GBP/USD Weekly Forecast: Bullish potential limited, with UK inflation, Ukraine in spotlight Optimism over a probable truce between Russia and Ukraine offered a sigh of relief to risk-sensitive currencies such as the British pound. GBP/USD staged an impressive comeback, as the US dollar failed to capitalize on the hawkish Federal Reserve (Fed) outlook. Cable booked
Month: March 2022
AUDUSD trades near session highs The AUDUSD is retesting the high for the day at 0.74085. That high was made in the late Asian/early European session. The subsequent fall saw the pair move below a swing area between 0.73675 and 0.73799. The last dip came on the back of the Fed’s Waller hawkish comments and
The Canadian dollar finished the week strong with USD/CAD falling to 1.2600 at Friday’s close from as high as 1.2870 on Tuesday. That’s very close to the seven-week low of 1.2587 set at the start of the month. For months, the loonie has been stuck in a push-and-pull from rising commodity prices, sinking risk appetite
March 18: Gold eased on Friday and prices were set for their biggest weekly drop since late November as hopes for progress in Russia-Ukraine peace talks dented the metal‘s safe-haven appeal. Spot gold slipped 0.2% to $1,938.29 per ounce by 0209 GMT. U.S. gold futures were down 0.3% to $1,937.30. The metal has fallen about
Yen’s down trend continued last week and even accelerated against commodity currencies. Persistent rally in benchmark yields, rebound in stocks, and diverging central bank expectations are expected to weigh on Yen further. Meanwhile, expected rate hike by Fed and BoE didn’t provide much support to Dollar and Sterling, as both closed among the weakest. On
The British pound trimmed some of the last week’s losses, finished up 1.07%. Russia – Ukraine peace talks slowed amid failure to reach an agreement. US President Biden and China’s Xi talked about Russia – Ukraine. Fed’s Bullard, Waller, and Kashkari crossed the wires. GBP/USD Price Forecast: The bias is downwards unless GBP bulls reclaim
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New Jersey-based crypto financial institution BlockFi confirmed a data breach incident via one of its third-party vendors, Hubspot. BlockFi’s proactive warning about the breach aims to deter the intentions of bad actors in repurposing the user data for fraudulent activities. According to the announcement, the hackers gained access to BlockFi’s client data on Friday, Mar.
NZDUSD retest its 200 day moving average today The NZDUSD has moved up to retest its 200 day moving average today. That level comes in at 0.69099. The high price reached 0.69089 and backed off. The current price is trading at 0.6895. Traders tested that 200 hour moving average earlier this month and found sellers
I don’t know if there’s anything new here. If anything this sounds a bit softer than some of the earlier readouts. Biden stressed to Xi that providing material support to Russia would have consequences not just from the US but the wider world Laid out to Xi in detail the unified response from the private
LONDON: You can tell the London Metal Exchange (LME) is new to price limits. The venerable 145-year-old institution’s first attempt to restart its broken nickel market was over in chaotic minutes on Wednesday as the price immediately fell to – and briefly through – the lower 5% daily limit at $45,590 per tonne. Thursday’s restart
Silver prices sold off on Friday as risk appetite elsewhere continued to improve, with XAG/USD falling back under $25.00. But silver continues to trade well within recent ranges as traders monitor geopolitical developments. A strong finish to a strong week for US (and global) equities has seen safe-haven silver come back under selling pressure on
EURUSD bounces off the 200 hour MA again The EURUSD moved lower at the start of the US session. The move came on the back of the Fed Waller hawkish comments on CNBC. The move lower saw the price move below the 100 hour MA (blue line currently at 1.10133), but could not muster momentum
Markets: Gold down $22 to $1919 US 10-year yields down 5 bps to 2.14% WTI crude oil up $1.74 to $104.72 S&P 500 up 50 points, or 1.2%, to 4452. AUD leads, JPY lags The tone in Europe was negative and US equity futures were slated for declines but the mood in New York picked
Gold dipped on Friday as the dollar strengthened, with prices on course for their worst week in nearly four months as some of the safe-haven demand spurred by Russia’s invasion of Ukraine cooled. Spot gold slipped 0.5% to $1,932.20 per ounce, as of 1002 GMT. U.S. gold futures fell 0.5% to $1,933.10. The dollar firmed,
The tide seems to be turning just ahead of the weekend. Swiss Franc is rebounding notably while Dollar is also firmer up. On the other, Euro reverses earlier gain and trades broadly lower. Nevertheless, Yen’s weakness persists and it’s extending recent decline against the greenback. Commodity currencies are steady, however, while Canadian Dollar has no
Rivian Automotive (NASDAQ: RIVN), the budding electric vehicle maker, initially bank-rolled by the likes of Ford (NYSE: F) and Amazon (NASDAQ: AMZN), is currently trading 80% lower than its peak since listing on the Nasdaq stock exchange. Bear in mind that Rivian was listed on the Nasdaq in November 2021, when you had to be
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