Share: USD/JPY remains above the 141.00 psychological level amid a weaker US Dollar. The immediate resistance could be at the 141.50 major level following the 142.00 level. Technical indicators suggest a bearish sentiment to retest the 141.00 psychological support. USD/JPY continues to experience declines, driven by the weakening US Dollar (USD) influenced by subdued US
Month: December 2023
The strongest to the weakest of the major currencies The CHF is the strongest and the AUD is the weakest as the NA session begins. The USD is mixed to lower thanks to declines vs the JPY and CHF. There are modest gains vs the GBP, CAD, AUD and NZD. Today, US initial jobless claims
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Gold prices declined marginally in the last trading session of 2023. Despite a slight dip, gold prices clocked their best year in three, as expectations regarding US interest rate cuts early next year and the war in Ukraine and tensions in the Middle East lifted safe-haven demand. The February gold futures were trading at Rs
Trading activity is rather subdued in the last Asian session of the year. With no major economic events on the calendar for the day, trading is expected to remain quiet. Dollar is making an attempt to recover but continues to be the weakest performer for the week. It is followed by Euro and Sterling in
Share: WTI declined on Thursday, extending losses as broad-market risk flows reverse direction. Crude Oil markets are facing declines, shrugging off an unexpected decline in US crude stocks. Rough year-end markets are pulling down barrel prices to close out 2023. West Texas Intermediate (WTI) US Crude Oil extended a decline on Thursday, backsliding into the
US major indices are trading marginally higher in early US trading. Dow Industrial Average is trading up 51.00.16 percent at 37717.80 S&P index is up up 9.28 points or 0.19% at 4790.60 Nasdaq index is up up 25.42.00.17 percent at 15125.42 The Russell 2000 of small-cap stocks is taking a breather today with a decline
WTI crude oil hourly WTI crude oil is at the lows of the day, down $1.62 to $72.49. The Boxing Day rally has now been completely wiped out and crude is lower on the week. The drop in oil comes despite a bullish weekly oil inventory report that showed: Crude -7114K vs -2704K exp Gasoline
Gold prices surged Rs 450 to Rs 64,300 per 10 grams in the national capital on Thursday amid strong global cues, according to HDFC Securities. This is at least the second time the precious metal prices have touched a record high of Rs 64,300 per 10 grams on December 4. In the previous trade, the
Japanese Yen and Swiss Franc are standing out with significant rallies in otherwise relatively subdued markets today. Yen resumed its near-term rise against the Dollar, reaching its highest level in five months. Simultaneously, Swiss Franc has achieved its highest level in over a decade, excluding the spike seen in 2015. While Dollar remains the weakest
Share: The Swiss Franc finishes 2023 as the top G10 performer. Economists at ANZ Bank analyze CHF outlook. Weaker EU growth is associated with a stronger CHF TWI on a broader time horizon We think the SNB will be less concerned with supporting CHF strength in 2024. Weaker EU growth is associated with a stronger
The EURUSD is running higher as USD sellers exert their pressure after the weaker Richmond Fed regional index. The EURUSD price action has now moved within a swing area between 1.1095 and 1.11346. It would take a move above that area to increase bullish bias. The next target would come at the March 2022 high
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Gold prices surged on Thursday to the highest in more than three weeks as the US dollar and bond yields hit multi-month lows on mounting bets the Federal Reserve will start cutting interest rates as soon as next March. February gold futures were trading at Rs 63,795 per 10 grams on the MCX at 10.20
Japanese Yen soars broadly in Asian session today, likely in delayed reactions to comment made by BoJ Governor Kazuo Ueda. Speaking to NHK, Governor Ueda indicated that the chance of moving the short-term interest rate out of negative territory in 2024 was “not zero.” This remark marks a notable shift in tone from the central
Share: The DXY Index fell to its lowest level since July, below 101.00. Markets are placing bets on six rate cuts by the Federal Reserve for 2024. As for now, investors are pricing in the first cut in March. The US Dollar (USD) continues to experience sharp losses, with the US Dollar Index (DXY) trading
The major European indices have gotten off to a modest positive start in the shortened holiday week of trading. Most of the indices were closed yesterday and also on Monday. Snapshot of the closing levels shows: German DAX, +0.21% France CAC, +0.04% UK FTSE 100 +0.36% Spain’s Ibex +0.10% Italy’s FTSE MIB +0.12% As European
Gold is on track for an all-time closing high today. It’s up $11 to $2077. That would surpass the all-time closing high of $2071 set on December 1. Also notable is that on December 4, gold briefly went super-nova in a sharp rally up to $2135 at the open in Asia before being hit by
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