Dollar has started to ease after a strong rally this week, alongside US Treasury yields. While the greenback is consolidating gains against European majors and Yen, there’s little indication of a substantial pullback for now. Against commodity currencies, Dollar still holds potential for additional gains. Still, traders may avoid large moves ahead of the weekly
Month: October 2024
The EURUSD moved higher in the early US session and tested its 200-hour moving average currently at 1.08342. Although the price ticked above the MA line on a few hourly bars, the momentum stalled. The buyers turned to sellers, and the price has moved back to the 100-hour MA (blue line) at the 1.08056. The
Markets: Gold up $8 to $2743 US 10-year yields up 3.6 bps to 4.23% WTI crude oil up $1.43 to $71.63 S&P 500 flat USD leads, NZD lags The mood steadily soured throughout US trade and NZD and AUD finished at the lows. The S&P 500 rose as much as 50 points but gave it
Oil prices rose on Friday and are on track for a weekly gain of more than 1%, as tensions in the world’s top oil-producing region, the Middle East, and a restart in Gaza ceasefire talks in the coming days kept traders on edge. Brent crude futures climbed 45 cents, or 0.6%, to $74.83 a barrel
09 June 2024, Russia, Moskau: A guardhouse of the Kremlin (l) and the Foreign Ministry (M, background) stand in the center of the capital. Photo: Ulf Mauder/dpa (Photo by Ulf Mauder/picture alliance via Getty Images) Picture Alliance | Picture Alliance | Getty Images Russia’s central bank on Friday raised its key interest rate by 200
Dover on Thursday reported weaker-than-expected third-quarter results, pressuring shares of the industrial conglomerate with ties to AI data centers. We’re not concerned: The company’s recent asset sales is likely causing some confusion about the numbers. Revenue rose 1.3% year over year to $1.98 billion, a tad shy of the $2.05 billion consensus estimate, according to
GBP/USD Price Forecast: Climbs to three-day peak, approaches 1.3000 The Pound Sterling recovered some ground and traded at around three-day highs of 1.2998 yet remained unable to crack the 1.3000 figure at the time of writing. Market mood has improved slightly, a headwind for Greenback, which, despite that, is headed to sustain weekly gains of more
The forex markets have shifted into consolidation mode today, with Dollar’s rally slowing as profit-taking sets in. Traders are showing caution ahead of two critical events that could reshape the near-term outlook: the upcoming non-farm payroll report next Friday, and the US presidential election the following week. NFP data is expected to set the stage
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
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 steadied on Friday but were headed for a weekly gain, driven by safe-haven demand due to escalating geopolitical concerns, while palladium lingered near a 10-month high. FUNDAMENTALS * Spot gold was little changed at $2,733.63 per ounce by 00:18 GMT. Prices hit a record high of $2,758.37 on Wednesday and were up 0.5%
Christian Lindner, Germany’s finance minister, during a meeting Janet Yellen, US treasury secretary, not pictured, at the annual meetings of the IMF and World Bank in Washington, DC, US, on Thursday, Oct. 24, 2024. Ting Shen | Bloomberg | Getty Images German Finance Minister Christian Lindner on Friday warned that if the U.S. kicked off
Dow stock Honeywell was one of the biggest drags on the 30-stock average Thursday after Club industrial giant reported mixed third-quarter results compounded by a mixed outlook. Revenue for the three months ended Sept. 30 rose 5.6% year-over-year to $9.73 billion but short of the LSEG compiled consensus estimate of $9.9 billion. Adjusted earnings per
USD/CAD holds onto gains near 1.3850 as the BoC is expected to cut interest rates again by 50 bps in December. Economists expect the Canadian monthly Retail Sales to have grown by 0.5% in August, slower than 0.9% in July. The US Dollar remains supported as Fed large rate cut expectations have been tempered. The
Japanese Yen’s broad selloff intensified during the quiet Asian trading session today, with the currency continuing to weaken against major counterparts. A key factor behind Yen’s decline is the ongoing surge in US and European bond yields, which diminishes the appeal of the low-yielding Yen. More striking, however, is the apparent silence from Japanese authorities,
The EURUSD is making a technical break into the close as it moves above its 100-hour moving average for the first time since September 30. That level comes at 1.08129. Getting and staying above that moving average is a win for the buyers. The next target comes against the 200 hour moving average at 1.08423.
The changes are light in the new day but the antipodeans are slightly lagging in the major currencies space. It’s not so much the dollar but perhaps some light softness in the yuan is also weighing. In any case, it is bringing into focus some key technical levels for AUD/USD right now. AUD/USD daily chart
Gold December futures contracts at MCX were trading at Rs 78,143 per 10 gram, down by 0.37% or Rs 288 while the silver December futures contracts were trading at Rs 96,401/kg, down by 0.65% or Rs 631. Gold prices have gained Rs 2,500/10 gram in the month of October so far while the silver prices
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