Month: June 2023

Commodity exchange MCX has decided to extend its software support contract with 63 moons technologies, the former promoter of the bourse, after repeatedly failing to transition to a new trading platform within stipulated deadlines. In separate early morning stock exchange filings, Multi Commodity Exchange of India Ltd and 63 moons said the contract has been
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In the currency trading arena, there’s been a notable lack of movement today. Gold has caught the market’s attention, sliding past the 1900 psychological level. Yet Dollar remains relatively undisturbed, also showing no significant response to the latest jobless claim data and Q1 GDP final figures. Likewise, the release of higher-than-anticipated German CPI data sparked
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Canadian lawmakers in the House of Commons have shown their support for blockchain technology and cryptocurrencies in a report released by the Standing Committee on Industry and Technology (INDU). The report, which consists of 16 separate proposals, highlights the advantages and potential of blockchain technology in various sectors. As a result of the INDU’s deliberations,
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Share: Economists at Commerzbank analyze ECB policy outlook and its implications for the EUR/USD pair. If no more steps are required there are no reasons to extrapolate yesterday’s EUR weakness The Italian government is already voicing furious criticism of the ECB rate hikes. However, we know that on the ECB board, the monetary policy ideas
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Share: EUR/USD consolidates recent losses but lacks recovery momentum after snapping two-day winning streak. ECB’s Centeno recently prod policy hawks even as Lagarde & Company kept rate hike bias intact. Fed’s Powell advocates for two rate increases in 2023, rules out rate cuts. German inflation data, second-tier US statistics eyed for clear directions. EUR/USD struggles
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AUDUSD breaks lower. What next? The AUDUSD market shifted further into seller control today following the closes below the 200-day Moving Average (MA) on Monday and Tuesday, at 0.66905. Yesterday, the pair closed slightly beneath the MA at 0.6686, while Monday’s closing price was 0.6674. Today’s high reached 0.66887 ahead of monthly Australia’s Consumer Price
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Gold prices extended their slide on Wednesday to hit their lowest in 3-1/2 months on bets for interest rates remaining higher for longer, while traders positioned for a speech by Federal Reserve Chair Jerome Powell. Spot gold fell 0.4% to $1,905.75 per ounce by 9:23 a.m. EDT (1323 GMT), hitting its lowest since mid-March. U.S.
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Forex markets today are leaning towards mild risk-off sentiment, with traders cautiously awaiting comments from leading central bankers at the ECB forum. This cautious sentiment, interestingly, does not seem to be having a substantial effect on the stock or bond markets yet. British Pound is experiencing fresh selling, despite expectations of hawkish messages from the
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