A Bullish Beacon in Forex: The Unstoppable Rise of the Peso 📈 The Mexican Peso’s journey is a bright spot in the Forex markets, proving to be a treasure trove for those with the right strategy and the virtue of patience. Opinion: Mexican Pesos are strong and rising October’s Opportunity: Quick Dips and Steady Gains
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The dollar saw a solid upside move following Monday’s beat in the ISM manufacturing PMI. As a result many are expecting a similar beat in the ISM services or the NFP to see a similar reaction. Even though that might be true in the very short-term, there is a risk dollar bulls need to keep
Gold prices opened with a Rs 440 per 10 grams uptick on the MCX on Wednesday, continuing their winning run over the past one month. While gold hit a lifetime high of Rs 69,487 (April futures) this week, it was trading at Rs 69,369 up by 0.64% over the previous closing price around 10.10 am.
Dollar retreated mildly following comments from two FOMC members, including a known hawkish figure, reiterating expectations for three interest rate cuts within the year. Despite this, the retreat remains subdued as there is no guarantee yet for a June cut. Fed’s approach continues to be heavily influenced by incoming data. The greenback’s next move will
Mexican Peso climbs on Greenback as Mexico’s stable Business Confidence overshadows climbing US Treasury yields. Mexico’s economic schedule will feature Gross Fixed Investment and upcoming Banxico minutes. Despite positive US job and factory order figures, the Greenback’s rally loses momentum. The Mexican Peso recovered some ground against the US Dollar on Tuesday after upbeat economic
The NZDUSD moved lower yesterday and found support at a swing level off the daily chart and near a downward sloping trend line on the hourly chart. The subsequent rise today has seen the price move up to test a key hourly moving average. That moving average held resistance yesterday, and it held resistance on
US major indices sink, but close off lows. Russell 2000 led the way to the downside. The Dow and the NASDAQ closed down near 1%. A snapshot of the final numbers shows: Dow industrial average -396.63 points or -1.00% at 39170.23. At session lows the index was down -515.16 points S&P index -37.98 points or
After hitting an all-time high level, gold prices on Tuesday fell Rs 50 to Rs 68,370 per 10 grams in the local market, following weak trends in the international markets, according to HDFC Securities. In the previous session, the precious metal closed at Rs 68,420 per 10 grams. However, silver prices climbed Rs 430 to
Currency markets shifted their attention towards the sell-off in Swiss Franc today, a reaction to the substantial rally observed in European and US treasury yields. With the 10-year yields in Germany and UK climbing back above 2.4% and towards 4.1% respectively, and US 10-year yield setting sights on 4.4%. The surge in yields comes on
USD The Fed left interest rates unchanged as expected with basically no change to the statement. The Dot Plot still showed three rate cuts for 2024 and the economic projections were upgraded with growth and inflation higher and the unemployment rate lower. Fed Chair Powell maintained a neutral stance as he said that it was
Prior 42.5 Despite a slight revision higher to the initial reading, it is still a five-month low. Weak demand conditions is still the main problem and we’re starting to see employment conditions also take a slight hit. The good news at least is that price pressures are easing a touch amid the softness in demand.
Notwithstanding a firmer dollar index (DXY), gold prices held their ground on Tuesday in hopes of an early rate cut as softer inflation numbers in the US lifted sentiments. The domestic yellow metal prices took cues from their overseas peers and traded with a positive bias. The MCX June gold futures were trading at Rs
Dollar stayed broadly firm in Asian session today, after rallying on robust manufacturing data and significant rebound in treasury yields overnight. The spotlight now shifts to upcoming comments from Fed officials, including Governor Michelle Bowman and New York Fed President John Williams, as markets seek clues about the central bank’s monetary easing path. The burning
EUR/USD is heavy around 1.0730. Economists at Société Générale analyze the pair’s outlook. Next support is 1.0710/1.0695 EUR/USD has staged a steady pullback after forming a lower peak near 1.0980 last month. It has failed to defend 50-DMA resulting in deeper decline. Daily MACD has dipped within negative territory highlighting lack of steady upward momentum.
The USDCAD is running to the upside and in the process is moving away from the 100/200 bar MA on the 4-hour chart. Both of those moving averages are near 1.3536 (the current price is trading at 13582). The price high has moved to 1.3585 which was also the hybrids going back to the week
The price of the WTI crude oil futures are settling at $83.71 – its highest close since October 27, 2023. The price is up $0.54 or 0.77% on th day. The high price today reached $84.49. The low price was at $82.60.The gains today come after a 3.2% increase last week. China’s Caixan Manufaturing PMI
Oil prices stayed near five-month highs on Monday as markets expected tighter supply due to OPEC+ cuts and after attacks on Russian refineries, while Chinese manufacturing data supported a stronger demand outlook. Brent crude was 35 cents lower at $86.65 a barrel by 1230 GMT after rising 2.4% last week. U.S. West Texas Intermediate crude
The forex markets roared back to life from holiday lull in early US session, Dollar surges broadly as buoyed by unexpectedly strong ISM manufacturing data. This report marks a pivotal shift for the sector, which has transitioned back into expansion after 16 months of contraction. Additionally, the prices component of the report soared to its