Overall market sentiments are steady today. Commodity currencies are currently the strongest ones for today so far, as led by Aussie. Dollar is recovering despite weaker than expected durable goods orders. Euro turns after after slightly weaker than expected Germany Ifo business climate. Yen and other European majors are also weak. Dollar is currently mixed,
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XAG/USD trades in a relatively tight range on Monday. Near-term technical outlook remains neutral with a slight bullish bias. Next key resistance for silver aligns at $26.60. The XAG/USD pair climbed to its highest level since early March at $26.64 on Thursday and staged a deep technical correction on Friday. At the start of the
For most of the last decade, India’s stance on cryptocurrencies has been uncertain, to say the least. The current soft ban is hurting the country’s potential every day, but recent reports suggest the country is having second thoughts. In March this year, a notification published by the Ministry of Corporate Affairs stated that companies dealing
Daily thread to exchange ideas and to share your thoughts It is going to be a big week in the market with plenty of things to take into consideration. But by the end of it all, I would not be the least bit surprised if we continue to stick with the reflation narrative in the bigger picture
More bullish bias on the break The AUDUSD traded the the London session and most of the NY session between the 100 hour MA above and the 100 hour MA below (blue and green lines respectively). The price moved above the 100 hour MA in the last hourly bar and has extended the move higher
NEW DELHI: Gold futures were trading with gains on Monday helped by a soft dollar ahead of the US Federal Reserve policy meeting this week and amid rising covid threat in India. Silver futures were flat. The dollar index nursed losses against its rivals, making gold less expensive for other currency holders. Gold futures on
We expect the Fed to turn more upbeat over the economic outlook at this week’s meeting. Yet, the economic improvement is not yet strong enough for any change in the monetary policy measures. As such, the Fed would leave the Fed funds rate target at 0-0.25%. On QE, the central bank would also leave the
USD/CAD takes offers around the lowest since March 18. Confirmation of bearish chart pattern, sustained trading below 200-HMA back sellers. Bulls need a decisive break above 1.2540 for fresh entry. USD/CAD drops to the fresh low in five weeks while flashing 1.2450 figures on the chart, down 0.19% intraday, while heading into Monday’s European session.
As a vital element for any trader to master, a strong trading strategy may end up being the core reason behind a profitable trade. Watch and learn as market expert John Jergeson takes to his whiteboard and charts to explain how to build a solid trading forex strategy in FXTM’s penultimate video in this educational
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WTI crude oil closes up $0.71 on the day or 1.16% The price of WTI crude oil futures are settling at $62.14. That is up $0.71 or 1.16% on the day. The high price today reached $62.43. The low price extended to $61.25. Looking at the hourly chart, the price tried to move above its 100
By James Attwood and Yvonne Yue Li Industrial metals from copper to aluminum to iron ore have rallied to the highest level in years. The reasons for their gains are plentiful: Copper — critical for everything from electrical wiring to motors and thus a bellwether for the global economy — broke out of its recent
What you need to know on Monday, April 26: The dollar fell on Friday amid prevalent risk appetite. Wall Street rallied following upbeat Markit flash PMIs for the EU and the US, with most indexes reaching record levels, boosting hopes for a soon-to-come economic recovery after the pandemic slump. The EUR/USD pair settled near 1.2100,
As central bank digital currencies, or CBDCs, continue to garner mainstream traction across the global financial landscape in recent years, almost all central banks are actively researching the benefits and risks of offering a digital currency to the public. In its most basic sense, a CBDC is a digital form of fiat money, backed by
Two picks from MUFG Research AUD/USD is up 41 pips to 0.7748 today. Recently, they suggested buying AUD/USD at 0.7620 with a target at 0.7895 and a stop at 0.7460. They’re reiterating the trade this week. “The trade idea has lost some upward momentum over the past week reflecting in part some concern that the