Share: Silver Price (XAG/USD) fades upside momentum after refreshing a two-week high, as well as posting a four-day winning streak, to $23.30 as it eases to $23.00 amid an early Asian session on Thursday. The latest retreat in the Silver Price could be linked to the downbeat options market signals, as well as the market’s
Month: July 2023
Morgan Stanley on Wednesday lowered its oil price forecasts, predicting a market surplus in the first half of 2024 with non-OPEC supply growing faster than demand next year. The Wall Street bank cut its Brent price outlook for the third quarter this year to $75 from $77.50 per barrel and lowered its fourth quarter forecast
AUDUSD falls below the 100/200 hour MAs The AUDUSD has moved below its 100 and 200-hour moving averages at 0.6660. The current price trades just below the level of 0.66577. The low for the day reached 0.66532. Trading below those levels and staying below those levels would keep the bias more in favor of the
The USD is ending the day as the strongest of the major currencies. The dollar gained in the Asian and early European trading, and then got another boost from the Fed minutes this afternoon. The strongest to weakest of the major currencies At the June meeting, some Federal Reserve policymakers suggested they would have supported
Dollar and Japanese Yen are posting marginal gains as market attention shifts towards the release of June FOMC meeting minutes. Concurrently, major European indices are slightly down, reflecting a similar sentiment in US futures market. This development has put commodity currencies on the back foot. However, neither Dollar nor Yen has demonstrated enough strength to
“Any kid who doesn’t learn something about Bitcoin is missing out,” says Bitcoin advocate Ben De Waal. De Waal explains that his 12-year-old daughter Samantha has already convinced “a couple” of her schoolmates and a teacher to hop on the Bitcoin bandwagon, though she’s not attempting to “orange pill the entire school”… yet. Ben De
Share: AUD/USD is seeking a cushion around 0.6660, however, the downside seems favored. The US Dollar Index is expected to show severe volatile moves ahead of the FOMC minutes. AUD/USD has slipped below the Rising Channel chart pattern, which indicates a bearish reversal. The AUD/USD pair is looking for a cushion around 0.6660 in the
Gold price remained flat at Rs 59,280 per 10 gram in the national capital on Wednesday, according to HDFC Securities. However, silver climbed by Rs 200 to Rs 71,500 per kilogram. “Gold traded flat on Wednesday, with spot gold prices in the Delhi markets trading at Rs 59,280/10 gram, unchanged from its previous day close,”
The manufacturing sector has been contracting basically all over the world with the biggest economies like US, China and Eurozone being the highlights. We had recently a rally in copper prices due to the expectations of more economic stimulus from China, but the market got disappointed from the weak actions and it’s erasing the entire
S&P 500 futures are now down 24 points, or 0.5%, as the selling is picking up in European morning trade. The new week is finally looking to get underway and after a solid rebound to close off the month of June, stocks are beginning to stutter now. In Europe, the selling is still rather controlled
Commodity currencies are maintaining their position as the stronger performers of the week, while overall trading continues in a noticeably subdued manner. Both Dollar and Yen are seen navigating within familiar ranges against their European counterparts. Market volatility might experience a slight uptick as US traders return from holiday break today. While FOMC minutes are
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Share: USD/MXN struggles to defend corrective bounce off the lowest levels since December 2015. Remittances to Mexico hit record high in May, US Dollar’s struggle add strength to Peso’s run-up. Mexican Consumer Confidence, FOMC Minutes will be in the spotlight. USD/MXN licks its wounds at the lowest levels since December 2015, fading the corrective bounce
Oil prices ticked higher on Tuesday as markets weighed August supply cuts by top exporters Saudi Arabia and Russia against a weak global economic outlook. Saudi Arabia on Monday said it would extend its voluntary output cut of 1 million barrels per day (bpd) to August while Russia and Algeria volunteered to lower their August
Since the last FOMC meeting the US economic data surprised consistently to the upside leading to a more hawkish pricing for interest rates expectations. In fact, Fed Chair Powell said that the majority of the FOMC expects two or more rate hikes coming if the economy performs as expected. Conversely, the UK employment and inflation
I just posted this on the threat China’s export curbs pose to Germany: Posting this now on more signs of the new cold war. China has cancelled a trip by European Union foreign policy chief Josep Borrell that was scheduled for next week. The info came overnight via a spokesperson for the EU. Said there