Share: The XAG/USD jumped above $22.70, seeing more than 0.80% gains and is set to close a winning week. Core PCE declined to 4.6% YoY in May, lower than expectations. Following the data the USD and US bond yields retreated. The XAG/USD surpassed the $22.70 mark on Friday and registered an increase of over 0.80%.
Month: June 2023
USDJPY tests 100 hour MA. Short term barometer. The USDJPY moved lower today, coming off the boil a bit (see videos here and here).The drift lower started against a channel trend line against swing highs from this week (green numbered circles). The lows have inched below the lower channel trend line but stalled ahead of
US core PCE prices (excluding food and fuel costs) for the month of May rose 0.3% as expected but the YoY level was mostly lower at 4.6% versus 4.7% last month and expected. The PCE price index fell from 4.3% to 3.8%. That was the 1st decline below 4% since early 2021. Personal consumption (adjusted
Gold prices rose Rs 80 to Rs 59,030 per 10 grams in the national capital on Friday amid gains in overseas precious metal prices, according to HDFC Securities. The yellow metal had settled at Rs 58,950 per 10 grams in the previous trade. Silver, however, tumbled Rs 550 to Rs 70,700 per kilogramme. “Gold slightly
Dollar sees a significant dip in early US session after release of economic data showed a slower than expected headline PCE inflation and a slight decline in core PCE inflation. In contrast, Eurozone reported a tick up in core inflation for the same period. Stock futures rally on this news, while benchmark treasury yields dip
Pixelcatchers | E+ | Getty Images It’s not an easy time to be a small business in search of financing. For LGBTQ owners, the struggle has been even harder. LGBTQ-owned businesses reported more rejections than non-LGBTQ businesses that applied for funding, according to a 2022 report from Movement Advancement Project, a nonprofit think tank that
An open letter to lawmakers in the European Union was issued by more than 160 executives from tech companies around the world urging careful consideration of artificial intelligence (AI) regulations not to stunt the industry or markets. On June 30, executives from companies such as Renault, Meta, Spanish telecom company Cellnex and German investment bank
Share: Economists at Crédit Agricole expect EUR/USD to experience downside pressure in the near term. However, the pair is set to recover toward 1.11 in the coming months. Near term downside risks for EUR/USD We see downside risks for EUR/USD from its current levels in the near term and project a recovery only going into
We keep hearing from the Fed members that two or more rate hikes this year are likely if the data remains solid. In fact, since the last FOMC meeting, the data indeed kept on surprising to the upside and led to a more hawkish repricing in interest rates expectations that eventually favoured the greenback. On
Eurostoxx +0.6% Germany DAX +0.8% France CAC 40 +0.8% UK FTSE +0.5% S&P 500 futures +0.3% Nasdaq futures +0.5% Dow futures +0.1% Perhaps we are seeing some window dressing at play before we hit the end of the quarter and the half-year mark? In any case, it’s a tough one to say for sure especially
Gold struggled for momentum in early Asian trading on Friday, as traders awaited key U.S. inflation numbers due later in the day after a slew of strong data prints and hawkish comments from Federal Reserve officials raised bets of more rate hikes. FUNDAMENTALS * Spot gold was flat at $1,908.33 per ounce by 0122 GMT.
In the run-up to the close of the first half, forex markets appear to be treading water in today’s Asian session. Market responses to China’s lackluster PMI data have been tepid, while Yen remains largely unfazed by Japan’s industrial production figures and Tokyo’s CPI. Asian indexes are mixed with mild selloff in Nikkei. Dollar and
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Want some of MY Trades? 👉 https://t.me/TWPVIPBot In this episode, I will explain the 94.44% WIN Rate Supply and Demand Trading Strategy. Supply and Demand is the best Forex trading strategy in 2023. It’s what I used this week for a 99.44% backtest, and 100% win rate on live trades. There are many different indicators
Share: Strong GDP and jobless claims data drive US Dollar, yet USD/CAD records marginal losses. Fed’s signal of two more rate hikes by year’s end boosts odds for a July rate hike to 87%. Traders anticipate upcoming GDP data and BoC outlook survey for clues on Canada’s economic health. USD/CAD registered minuscule losses on Thursday
I know…. the USDJPY is overbought. The RSI is above the 70 level indicative of an overbought condition in the USDJPY. The RSI in the USDJPY has not been this high since October 2022. The problem is the USDJPY has been overbought over the last 6-7 days. During that time, the price has moved up
Reuters have the report, citing unnamed sources: The United States and the Netherlands are set to further restrict sales of chipmaking equipment to China, to prevent the technology from being used to strengthen China’s military While the Dutch are planning to curb certain equipment from national champion ASML, and other companies, the U.S. is expected
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