Euro drops sharply and broadly today on renewed concerns over recession on gas crisis. The common currency is also taking other European majors lower. Dollar and Yen are currently the strongest ones on risk aversion. Commodity currencies are also weak, with Aussie shrugging of RBA rate hike. Nevertheless, Canadian Dollar is relatively resilient Technically, EUR/USD’s
admin
Pound under pressure, among worst performers of the American session. GBP/USD heads for the lowest close since March 2020. US dollar holds onto significant daily gains as Wall Street tumbles. Risk aversion continues to weigh on GBP/USD. The pair fell further, reaching at 1.1897, the lowest level since March 2020. It remains under pressure around
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
Brent crude futures extended gains on Tuesday as a strike in Norway is expected to disrupt oil and gas output, fanning tight supply worries. Brent crude futures rose 82 cents, or 0.7%, to $114.32 a barrel by 0105 GMT after a 2.4% gain on Monday. U.S. West Texas Intermediate crude climbed $2.58, or 2.4%, to
It’s a rather slow start to the week, with major pairs and crosses stuck inside Friday’s range. Trading could remain subdued for the day with the US on holiday. But there are lots of events to look forward to, starting from RBA’s rate hike tomorrow. Minutes of Fed and ECB meeting might not reveal anything
EUR/USD is aiming to violate 1.0440 as investors see eurozone PMI stable. The DXY is displaying a subdued performance as the focus has shifted to the Fed minutes. The ECB may announce its first interest rate hike after a span of 11 years. The EUR/USD pair is juggling in a narrow range of 1.0423-1.0438 in
Prior was 56.8 Sentiment hit at 17-month low though still positive New orders at 23-month lows Production volumes grew in June for the 24th consecutive month Further acceleration in backlogs Input prices accelerated in June Full report (pdf) Everyone expects a slowdown in factory activity after the pandemic boom, but where it settles out is
New Delhi: Gold in the national capital on Monday rose by Rs 241 to Rs 52,048 per 10 grams amid firm global trends, according to HDFC Securities. In the previous trade, the yellow metal settled at Rs 51,807 per 10 grams. Silver also gained Rs 254 to Rs 58,139 per kg from Rs 57,885 per
Australian Dollar recovers broadly today, following recovery in European markets. Meanwhile, traders are also preparing for tomorrow’s RBA rate hike. New Zealand Dollar is also mildly firmer. On other hand, Yen is turning softer with Swiss Franc and Dollar. Euro and Sterling are mixed for now. Overall, trading is subdued with US on holiday. Technically,
Calm market on Monday amid US holiday. Emerging market currencies remain under pressure on recession fears and higher interest rates. USD/MXN firm while above 20.20 looking at 20.45. The USD/MXN is practically unchanged on Monday, hovering slightly below 20.30, holding onto last week’s gains. With US markets closed, price action will likely remain limited. The
Bitcoin (BTC) starts a new week still in holiday mode with United States financial markets off for Independence Day. The largest cryptocurrency, stuck below the increasingly daunting $20,000 mark, continues to feel the pressure from the macro environment as talk of lower levels remains omnipresent. After a quiet weekend, hodlers find themselves stuck in a
Complete MT5 Programming Course: https://en.bmtrading.de/mt5-masterclass/ Recommended Broker: https://en.bmtrading.de/broker/ Free Trading Journal: https://en.bmtrading.de/tradebuddy/ Learn about the benefits of automated trading. After programming trading strategies for a while I started teaching how to program expert advisors for the MT4 (MetaTrader 4) and MT5 (MetaTrader 5). Until now I only did videos in German but now I will
Hit the link below to join free telegram group 👇 https://t.me/geniuswiz
The July 4 Independence Day holiday long weekend in the US sapped interest during the Asian time zone today. Major FX ranges stayed confined mainly to lacklustre ranges. USD/JPY did drop under 135.00 again during the session. Lows under 134.90 were rejected though and as I update USD/JPY is back just over 135.00. Bitcoin was
Gold prices edged lower on Monday, as an elevated U.S. dollar hurt demand for greenback-priced bullion and also outweighed support from weakening Treasury yields. FUNDAMENTALS * Spot gold was down 0.2% at $1,807.19 per ounce, as of 0101 GMT, after hitting a five-month low of $1,783.50 on Friday. U.S. gold futures fell 0.5% to $1,809.50.
Asian equities are trading mixed as investors have turned cautious on slippage in US indices futures. The renewed recession fears have put the DXY on the tenterhooks. On the oil front, investors are shifting their focus on prolonged supply worries. Markets in the Asian domain are displaying mixed responses to falling S&P 500 futures in
The market is navigating different outcomes and in the simplest terms, here’s how it shapes up. 1) High inflation with ongoing growth and Fed hikes above 4% This is the scenario the market grappled with for most of the year and the results speak for themselves. It was the worst H1 for the S&P 500
LONDON – Copper prices slumped on Friday to their weakest in 17 months as inflation and factory data reinforced fears that central bank tightening would push economies into a recession and hit metals demand. Three-month copper on the London Metal Exchange had eased 2.6% to $8,047 a tonne by 1630 GMT after dropping to its