Oil prices have been moving up since late December 2023 and are now (for Brent) forming a ‘Golden Cross’. This is a sign that technical analysts like, when a shorter-term moving average (MA) crosses above a longer-term MA: 50 and 200 day simple moving averages (SMAs) are commonly used, but those parameters are not chiselled
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There isn’t juch on the data agenda for the Asia session to move around major FX too much – eyes will be on the headline feed. Note that with USD/JPY towards 152.00 again the probability of verbal intervention from Japan is higher again today. For those trading Australian and New Zealand markets also note that
Why can’t we think of benefiting from rising prices by participating in that trend as investors? Let me explain. I wrote to you about the rally in Gold prices more than a month ago. Now gold has rallied to all-time highs recently. Consumers who were planning to buy gold are worried as they will have
Mohamed Aly El-Erian, chief economic advisor for Allianz SE. Bloomberg | Getty Images The U.S. Federal Reserve has become too data dependent and has lost sight of its overall strategy, Mohamed El-Erian, chief economic advisor at Allianz, said Friday. The economist told CNBC that a longer-term, more strategic outlook could see policymakers settle on a
Silver’s surge to multi-year highs reflects strong precious metals momentum, undeterred by US job market. Technical outlook hints at more gains, with resistances at $27.50, $28.00. RSI dip may prompt support tests at $27.00, $26.12 for future direction clues. Silver soared sharply and finished the week with gains of close to 10%, hitting three-year highs
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
Oil cooled somewhat into the close after hitting the best levels in five months an hour earlier. I think those buying oil on a potential Iran-Israel war are taking an unnecessary risk in betting on an unknowable outcome. In general, the best trade is to fade war fears and that’s what the broader market did
Trading in MCX gold and silver contracts can be a rollercoaster ride, influenced not only by market dynamics but also by the psychological factors that govern traders’ decision- making processes. Delving into the psychology of trading reveals the complex interplay of emotions that can impact trading outcomes. In this article, we’ll explore the common emotions
Job creation in March easily topped expectations in a sign of continued acceleration for what has been a bustling and resilient labor market. Nonfarm payrolls increased 303,000 for the month, well above the Dow Jones estimate for a rise of 200,000 and higher than the downwardly revised 270,000 gain in February, the Labor Department’s Bureau
Gold hits record highs, defying US Nonfarm Payrolls spike and US Dollar gains, highlighting safe-haven status. Fed rate cut outlook adjusted after employment data, central bank remarks. Geopolitical tensions and strong demand from China bolster Gold’s market strength. Gold rallied to a new all-time high, ignoring a strong March Nonfarm Payrolls report in the United
Kickstart your forex trading week, by watching the above video, where I outline the key technicals in play for the major currencies vs the USD. What is the bias, the risks, the targets? What did we learn from the last week of trading that will help guide the roadmap for the current week? You won’t
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 hit a pause on Friday after scaling to historic highs in the previous session on expectations of lower U.S. interest rates this year, while traders await further cues from a key jobs report due later in the day. FUNDAMENTALS * Spot gold was down 0.2% at $2,284.84 per ounce, as of 0052 GMT,
Global financial markets are bracing for potential upheaval as geopolitical strains drive gold to new record while oil prices surge. This surge, alongside the rally in metals like Copper, ignites concerns over an inflation comeback. Such inflationary pressures, combined with a revival in manufacturing and service sectors, could deter major central banks from implementing significant
The U.S. labor market surprised economists with its strength once again, adding more than 300,000 jobs in March, with a few key sectors continuing to fuel its growth. Health care and social assistance were the top sector for job gains — a common theme in recent years — adding 81,300 jobs. Government and leisure and
A robust US Nonfarm Payrolls report for March propels the Greenback higher, impacting the EUR/USD. The Eurozone’s mixed economic indicators, including Germany’s Factory Orders and Retail Sales, contrast with the strong US employment landscape. Further downside seen at EUR/USD as technical suggests potential for declines below the 1.0800 threshold. The Euro registers minimal losses of
Fellow stock market investors & traders: Watch the high weekly RSI Today, let’s delve into a valuable tool for navigating the S&P 500 Emini futures market: the Relative Strength Index (RSI). The chart you see here displays the RSI for the S&P 500 e-mini futures, the main gauge of the entire US stock market. The
Canada employment chart March 2024 Canada’s jobs report showed a decline of 2.2K jobs in February, worse than the +25K reading expected. The headline is even worse than it looks when you consider runaway growth in Canadian immigration that led to a rise in the unemployment rate to 6.1% from 5.8%. That’s the highest since