Both the GBPUSD and USDCHF moved in the strong dollar direction after the US jobs report, but both have retraced back to near converged 100/200 hour moving averages. However, traders leaned against the converge moving averages and have pushed the prices back away. Looking at the GBPUSD, the 100 and 200 hour moving averages come
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The major US stock indices are ending the day lower led by the NASDAQ index which declined by 2.4% For the shortened trading week, the indices were down 3 of the 4 trading days. After snapping a 7 week decline in the S&P and NASDAQ index ended 8 week decline in the Dow industrial average,
Oil prices were roughly unchanged on Friday, clinging to gains made in the previous session on doubts that producers belonging to OPEC+ can hike their crude output enough to make up for lost supply from Russia. U.S. West Texas Intermediate (WTI) crude futures were up 1 cent at $116.88 a barrel at 0112 GMT, while
Bitcoin (BTC) ATM installations across the globe have seen a steep decline throughout the year 2022, with May recording just 202 new BTC ATMs, a range last seen three ago in 2019. Over the past five months since January, Bitcoin ATM installations saw a gradual slowdown, eventually falling down 89.75% from December 2021’s 1971 new
The USD/CHF bounces off weekly lows and is back above 0.9600. Risk appetite remains dampened, US equities tumble, and the greenback rise, underpinned by elevated US Treasury yields. USD/CHF Price Forecast: The major is upward biased, though a daily close above 0.9660 would exacerbate a rally towards the 20-DMA. On the week’s last trading day,
NASDAQ index is back down testing its 200 hour MA The NASDAQ index is now down -323 points or -2.62% at 11994.30. That takes the price back down toward its 200 hour moving average at 11991.74. A move below that moving average line would increase the bearish bias from a technical perspective. Conversely stay above,
MON: Chinese Services PMI Final (May). TUE: RBA Announcement; EZ Sentix (Jun); EIA STEO. WED: RBI Announcement; NBP Announcement; Japanese GDP Final (Q1); EZ Employment Final (Q1) and GDP (Q1 Revisions). THU: ECB Announcement; Chinese Trade Balance (May). FRI: CBR Announcement; Chinese Inflation (May); Norwegian CPI (May); US CPI (May); Canadian Labor Market Report (May);
Gold prices on Friday increased by Rs 57 to Rs 51,326 per 10 grams in futures trade as speculators created fresh positions on a firm spot demand. On the Multi Commodity Exchange, gold contracts for August delivery traded higher by Rs 57 or 0.11 per cent at Rs 51,326 per 10 grams in a business
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Binance Labs closed a $500 million fundraising round to secure capital that will be invested into Web3, blockchain, and value-building technology. The investment will be directed towards projects that work on developing more use cases for crypto by the team at Binance Labs. This fundraising round was supported by some of the leading global investors
The EUR/USD is set to finish the week almost flat, though with a minimal loss, Risk-aversion boosted the appetite for the greenback, though it weighed on the EUR/USD. EUR/USD Price Forecast: To consolidate in the 1.0627-1.0787 range, but downside risks remain. The EUR/USD edges lower as the New York session winds down, trimming some of
GBPUSD breaks below 1.2524 support The GBPUSD has seen down, up and now back down price action since the US jobs report. The price initially moved to the downside falling to a low of 1.25197 shortly after release of the jobs report. That took the price below a swing level at 1.2524, but only briefly
Austria is opening up part of its reserves of fuel. Releasing 112,000 tons of diesel & 56,000 tons of gasoline to cover loss of production at a key refinery. The plant was hit by whats described as a ‘mechanical incident’ on Friday. Info comes via Reuters, adding: release should be enough to cover the loss
After days of mixed trade near the $1850/oz level, gold edged up and tested the highest level since early May indicating that bulls are becoming more active. However, with a late-week sell-off, it ended with a minor decline for the week, it’s first in three weeks. Gold bulls became active amid increased volatility in the
It’s another poor week for Yen following the rally in benchmark treasury yields in US and Europe. It should be noted again that BoJ has a 0.25% cap on 10-year JGB yield, and thus, gaps are widening. Sterling was a distant second weakest, on risks of stagflation while Swiss Franc also softened. Canadian Dollar was
On Friday, June 3, South Korea’s Financial Supervisory Service (FSS) began an investigation into payment gateway services that work with digital assets. The FSS is South Korea’s financial regulator that operates under the Financial Services Commission (FSC), both of which are government institutions. As reported by local news outlet Money Today Co., the FSS had