Gold slumps for the third day of the week amid an upbeat market mood and rising US yields. The 2s-10s yield curve inverted for the second time in the week as investors expect the US economy will slow down. Mixed US economic data was mainly ignored by XAU/USD traders. XAU/USD Price Forecast: In consolidation within
Month: April 2022
I’m not going to draw any fancy lines on the chart but a glance at the monthly oil chart stands out because of the looming mirror image from April 2020, when prices went deeply negative only to leave a largely unchanged candle. This time it’s a different geopolitical event but much of the same look
Bank of America Global Research discusses USD/CAD technical outlook and adopts a sell-on-rallies bias through Q2. “We previously discussed a bias to fade USDCAD rallies in the 1.29s as wave 5 of the pattern was estimated to complete there. On March 8 spot traded to 1.2901 and turned lower. We weren’t quick enough to get
March 29: Gold prices were flat on Tuesday, as the dollar held firm at a three-week high hit in the previous session and yields climbed higher offsetting hopes for peace talks between Russia and Ukraine to be held this week. Spot gold was little changed at $1,925.71 per ounce by 0126 GMT. U.S. gold futures
Amid soaring inflation and worries about a looming recession, the U.S. economy added slightly fewer jobs than expected in March as the labor market grew increasingly tighter. Nonfarm payrolls expanded by 431,000 for the month, while the unemployment rate was 3.6%, the Bureau of Labor Statistics reported Friday. Economists surveyed by Dow Jones had been
GBP/USD Weekly Forecast: Little hope for bulls, as focus shifts to Fed minutes After charting a Doji candlestick in the previous week, sellers returned this week and left GBP/USD in close proximity to two-week lows of 1.3050. The divergent monetary policy outlooks between the US Fed and Bank of England (BOE) weighed heavily on the
TTC Forex University Details – https://ttcfxuniversity.com/pre-launch-sale A Beginner Trading Strategy that consistently makes money is the first step that anyone needs to take in order to be a profitable trader. Without a trading strategy that makes money, your trading is doomed to fail. So, in this video, I will be teaching you a beginner trading
A cold wallet belonging to the infamous Bitcoin (BTC) exchange Mt. Gox transferred 6,800 BTC to an unknown wallet just days after the former CEO Mark Karpeles revealed plans to redistribute BTC worth $6 billion to its creditors. Mt. Gox was a Tokyo-based Bitcoin exchange that shut down in Feb. 2014 after a hack that
The price of WTI crude oil futures is settling at $99.27. That is down -$1.01 or -1.01%. The high price today reached $101.75 while the low extended to $97.78. A week ago today, the price closed at $113.90. The decline of $14.63 represents a tumble of -12.84% for the week. the high for the week
China is imposing Covid related lockdowns in Chuzhou. Chuzjou is part of the Anhui province (northwest of Shanhai). The lockdown will begin on April 2. The population in Chuzhou is around 4 million people. This compares to 26M for Shanghai which now is under lockdown from both the east and western part of the city.
Finance minister Nirmala Sitharaman on Tuesday said that the “full blown” war in Ukraine had impacted all countries like the Covid19 pandemic due to disruption in supply chains and that the unprecedented rise in global oil prices was a challenge. Sitharaman defended the 137-day hiatus in fuel price revision, saying the disruption in supply chains
There were a couple of developments of last week to note. Firstly, US yield curve inverted for the first time since 2019. There is no reason to panic for the moment, but deeper inversion could set the tone in the risk markets ahead. Secondly, Euro ended as the strongest one, attempting to extend its near
The greenback remains buoyant in the session, weighing on the Japanese yen. Upbeat US macroeconomic data boost US Yields. The yield curve is inverted in 2s-10s and 5s-30s. USD/JPY Price Forecast: The uptrend remains intact and might exacerbate an upward move towards 125.00 if it reclaims 123.00. The USD/JPY recovers after dipping 350-pips in the
The major indices are closing higher after a late session surge take the Dow and S&P toward the highs and reverse declines in the NASDAQ index. The major indices snapped a two day decline. The Russell 2000 index was the biggest gainer today. The final numbers are showing: Dow industrial average up 139.92 points or
Companies with gas supply contracts in euros or dollars should not acceded to Russian demands EU will respond in a united manner by this attempt by Russia to circumvent our sanctions Gas supply contracts must be respected Putin was speaking earlier this week and saying that because of sanctions they weren’t getting paid for gas
NEW DELHI: Gold prices eased down on Friday, extending weekly losses, thanks to the strength in the US dollar and rising bond yields. Although a lack of progress in Russia and Ukraine peace talks capped losses. Investors further awaited the March US job data for policy tightening cues. Gold futures on MCX were trading down
Dollar is little changed after another set of solid job data. The greenback is trying to extend the near term recovery against Euro and Yen, but turns softer against Aussie. Euro also shrugs off much stronger than expected consumer inflation reading. Yen continues to consolidate in tight range, digesting recent losses. There is still prospect
EUR/JPY rebounded into the mid-135.00s as the yen suffered from higher yields and the euro benefitted from hot EZ inflation. ECB rhetoric was also notably more hawkish and, as a result, short-term EUR/JPY bulls are eyeing a retest of 137.00. EUR/JPY rebounded back into the mid-135.00s on Friday as higher yields, particularly in the US weighed