USD/CAD appreciates to continue its winning streak on Monday. US Dollar could gain ground on expectations of the Fed maintaining higher interest rates to combat inflation. The higher WTI price could limit the losses of the Canadian Dollar. USD/CAD kicks off the week with its third consecutive day of gains on Monday, inching higher to
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Welcome to our latest Bitcoin technical analysis! We delve into the daily timeframe, examining the recent movements and potential future directions of Bitcoin. 🔍 Today’s bitcoin technical analysis highlights: Observation of the past two daily candles and their proximity to the crucial 20 EMA, a significant indicator for algo firms and professional traders. A potential
UPCOMING EVENTS: Monday: China Retail Sales and Industrial Production, Canada PPI, US NAHB Housing Market Index. Tuesday: BoJ Policy Decision, RBA Policy Decision, Eurozone Wage data, Eurozone ZEW, Canada CPI, US Housing Starts and Building Permits. Wednesday: PBoC LPR, UK CPI, FOMC Policy Decision, New Zealand GDP. Thursday: Australia/Japan/Eurozone/UK/US Flash PMIs, Australia Labour Market report,
Gold, with its timeless allure, has always been a beloved form of investment for Indian investors. Its rescind lifetime highs would be inspiring to gold enthusiasts. A perfect hedge against inflation, gold has been a safe haven, an epitome of stability. For centuries, in the face of economic upheavals, currency fluctuations, and geopolitical changes, gold
The daily RSI shows a rise in selling traction, supported by the MACD depicting growing red bars. The hourly RSI indicates oversold conditions, signaling a potential pullback or bullish correction in the short term. Despite daily bearish tendencies, the pair still holds the 200-day SMA. The NZD/USD pair declined to 0.6086, with a significant 0.77% downturn
The GBPUSD has moved back to the downside in what has been a down and up and back down again type of day. In the fall, the price has moved back below the 50% midpoint of the move up from the March 1 low to the March high. That comes in at 1.27462. The move
The major European indices are closing with mixed results: German DAX, -0.03% France CAC, +0.04% UK FTSE 100, -0.20% Spain’s Ibex, +1.02% Italy’s FTSE MIB +0.57% For the trading week, major indices moved higher led by Spain’s Ibex.: German DAX, +0.69%. The index did reach a new all-time high at 18039.05 before rotating lower France
Gold prices recently touched a historic high in both the international and domestic markets. The benchmark London Spot Gold hit a lifetime high of $2195 an ounce in the first week of March, surging more than 6 percent so far this year. Tracking the overseas sentiment, domestic gold prices also surged, placing prices well above
Gold retreats from the $2,180 mark, reacting to hot US inflation data and Fed’s cautious stance on policy easing. Rise in US Treasury yields post-PPI data release dampens XAU/USD’s appeal despite risk-off market sentiment. Gold remains subdued as Treasury yields inch higher and the US Dollar strengthens. Gold spot retreated from around the $2,180 area
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
ANZ highlights the unexpected resilience of physical gold demand despite the surge in prices, attributing steady global consumption levels to strong interest from China and India. The report discusses the potential limits to further demand growth due to the prolonged period of elevated prices. Key Points: Steady Global Consumption: Global gold demand remained consistent at
The metal was down over 1% on the week as it posted its second consecutive weekly loss. It closed 0.24% lower at $2156 Friday on hotter than expected US export price Index data (February). The ten-year US yields at 4.308% were up 0.38% on the last trading day of the week; however, the yields surged
Dollar ended the week as the strongest currency, boosted by the fresh round of inflation data that led markets to reassess expectations around Fed’s rate cuts. This recalibration was also marked a pronounced rebound in treasury yields and a notably cautious sentiment pervading the stock market. Despite this rally, Dollar remained confined within the previous
EUR/USD has fallen to the 1.0800s, close to a critical level for the short-term trend. Further weakness could tip the near-term outlook in favor of bears. Empire State Manufacturing, Michigan Sentiment, US Industrial Production and commentary from ECB’s Nagel round off the week. EUR/USD is trading in the 1.0800s on the last day of the
As the trading week works toward a close, what levels are in play for the NZDUSD heading into the new trading week starting March 18. The price action this week has been more bearish with the price moving below the moving averages including the 100 and 200-bar moving averages on the 4hour chart and its
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 prices edged lower on Friday but were on track to gain over 3% for the week, boosted by the International Energy Agency raising its 2024 oil demand forecast and an unexpected decline in U.S. stockpiles. Brent crude oil futures were down 47 cents or 0.6% to $84.95 a barrel at 1434 GMT, a day
Dollar rebounded strongly overnight along with rally in treasury yields, and maintained its strength in Asian session. This resurgence is largely attributed to traders recalibrating their expectations for Fed’s monetary policy, in light of this week’s inflation data that surpassed forecasts. Both CPI and PPI reports for this week have painted a picture of persistent