EURUSD solidifies support and resistance Guess what? The 200 hour MA held resistance in the EURUSD . Surprise. Surprise. The 200 hour MA (green line) has acted as a barometer for bullish and bearish going back to last week. There have been a number of moves above and below the moving average, but the price
Month: March 2022
Prior 98.9; revised to 98.5 Current conditions 97.0 vs 96.5 expected Prior 98.6 Expectations 85.1 vs 92.0 expected Prior 99.2 That’s a big slump as the Russia-Ukraine war dampens the outlook with surging inflation pressures also likely weighing on sentiment for the most part. The drop in the expectations reading sees that fall to the
NEW DELHI: Gold prices edged lower while silver advanced in Friday’s trade. Gold futures on MCX for April delivery were trading at Rs 52,078 per 10 gram, down Rs 18 or 0.03 per cent. Holdings of the world’s largest gold-backed exchange-traded fund, SPDR Gold Trust, stood at 1,087.66 tonnes. Silver futures for May delivery were
Overall markets are mixed in Asia today. While stocks in Hong Kong are suffering renewed selling, Japan and Singapore are steady. Gold is lifted by general weakness in Dollar. Yen’s selling looks more and more exhausted even though it’s still the worst performing one for the week, followed by Euro and the greenback. On the
Following the release of the German IFO Business Survey, the institute’s Economist Klaus Wohlrabe said that “the economy faces uncertain times.” Additional quotes Industry supply chain issues have become worse, 80.2% of companies facing them (vs 74.6% in February). Price expectations have risen, two-thirds of companies want to increase prices. Price expectations have risen in retail
Play-to-earn (P2E) gaming was one of the hottest sectors in the cryptocurrency market in 2021 and based off the recent moves of Yuga Labs and Bored Ape Yacht Club, the gaming industry could continue to be a winner in 2022. Axie Infinity was the first game to really capture widespread attention and highlight the possibilities
The 50 basis point rate hike by the Bank of Mexico was as expected especially after the Mexican President inadvertently leaked it this morning. Nevertheless, the USDMXN is trading to new lows for the day. So at least the market saved a little reaction it seems. Looking at the daily chart, the USDMXN is, moving
JPM analysts on crude oil (in very brief) cut its Q2 demand forecast by 1.1 mn barrels a day reduced the outlook for H2 by about 500,000 bbls say the revision to forecasts are “heavily concentrated in Europe” saying the region is the centre of the geopolitical shock Oil update: (This chart is from our
Gold prices were unchanged on Thursday as the dollar gained and yields hovered near multi-year peaks, offsetting support from an escalation in the Ukraine crisis. FUNDAMENTALS Spot gold was little changed at $1,943.75 per ounce by 0131 GMT. U.S. gold futures were up 0.4% to $1,944.40. The dollar index gained on Wednesday, making gold less
Yen’s selloff resumes in early US session as selloff in bonds resume. Dollar picks up some buying after strong job data. But Swiss Franc is stronger with help from selloff in Euro. On the other hand. commodity currencies are turning weaker together with Euro, but pressure on them is still far from that on Yen.
In this article DRI An Olive Garden restaurant in Times Square in New York. Richard Levine | Corbis | Getty Images Darden Restaurants on Thursday reported quarterly earnings and revenue that missed analysts’ expectations, saying the omicron variant of Covid-19 led to disappointing sales for its Olive Garden chain. The company also lowered its earnings outlook for
What you need to take care of on Friday, March 25: The American dollar finished the day mostly lower across the FX board, although it managed to keep advancing versus the Japanese yen, with USD/JPY hitting a fresh multi-year high of 122.40. The EUR/USD pair is still struggling with the 1.1000 threshold, unable to extend
The USDJPY has been up 11 of the last 12 days. The close yesterday was at 120.81. With the current price at 121.06, it looks like 12 of the last 13 days is the odds on favorite now. US 10 year to Japan 10 year yield spread If you were look at the run higher,
Prior 55.5 Manufacturing PMI 57.0 vs 56.0 expected Prior 58.2 Composite PMI 54.5 vs 53.9 expected Prior 55.5 The slowdown is more marked in the manufacturing sector, as growth conditions slow and business sentiment slumps amid the Russia-Ukraine war. But the key takeaway in my view is that rates of inflation in both manufacturing and
NEW DELHI: Gold prices were trading marginally higher in Thursday’s trade as strong dollar and bond yields kept upside capped, despite the ongoing Russian-Ukraine war. Dollar and gold share an inverse relation. On the other hand, gold is sensitive to higher yields, which increases the opportunity cost of holding non-yielding bullion. On Thursday, gold futures
The forex markets are engaging in sideway trading in tight range in Asia today. The selling climax on Yen should have passed for the near term, with Yen pairs turned into consolidation mode. But the Japanese currency remains the runaway loser for the week, followed by Euro at a distant, and then Swiss Franc and
Eurozone PMI declined in early March but came in higher than expectations. EUR/USD continues to fluctuate around 1.1000 after the data. Manufacturing PMI in the eurozone edged lower to 57 in early March from 58.2 in February, the data published jointly by IHS Markit and S&P Global showed on Thursday. This print came in better
The Central Bank of Honduras, or BCH, addressed rumors regarding the country potentially adopting Bitcoin as legal tender like its neighbor El Salvador — and the answer seems to be negative. In a Wednesday statement, Honduras’ central bank said “for the time being” Bitcoin (BTC) was not regulated in the country and not recognized as
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