Gold prices inched lower on Monday, pressured by a firmer dollar, while investors awaited guidance from the US Federal Reserve on when it is likely to start withdrawing its bond-buying programme. FUNDAMENTALS Spot gold dipped 0.1% to $1,752.66 per ounce by 0050 GMT, while US gold futures edged up 0.1% to $1,753.80. The dollar index
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EUR/USD remains on track to close the day flat. US Dollar Index lost its momentum amid plunging bond yields. Flight-to-safety continues to dominate financial markets at the start of the week. The EUR/USD pair started the new week under modest bearish pressure and dropped to its lowest in more than three weeks at 1.1700. With
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Economic developments since the last meeting have raised concerns of “stagflation” in the UK, i.e. slow growth with strong inflation. As the main constraint to growth is supply chain, we do not expect this to derail BOC’s monetary policy stance. We expect the central bank to vote unanimously to leave the Bank rate unchanged at
The pair test the lower swing area around 0.7270 The AUDUSD tried to move higher in the early European session today, but ran into topside trendline resistance and a swing area between 0.7316 and 0.73226. The price rotated down with the overall dollar buying in the US session. In the process, the price moved back below the 50%
The market is nervous about the Evergrande situation [embedded content] That being said, just be wary that holidays in China itself, Japan, South Korea, and Taiwan may have exacerbated the anxiety and fear in Asia Pacific trading today amid thinner trading conditions. Still, the situation is rather tense and warrants attention. As mentioned earlier, the
NEW DELHI: Gold prices declined on Monday, hitting multi-week lows. Markets are closely watching the US Federal Reserve meeting this week for clues on when the central bank will start tapering its crisis-era stimulus measures. Gold futures on MCX were marginally down 0.09 per cent, or Rs 41, at Rs 45,945 per 10 gram. Similarly,
Palladium nose dives on Monday with more than 1% fall. Price moves in a broader consolidating trading range of $1,960 and $2,080. XPD/USD has been in a continuous downward trend since early May. Palladium (XPD/USD) takes a negative start on the fresh trading week. The metal prices hover in a broader trade band on the
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Bitcoin (BTC) has the potential to push its prices to between $250,000 and $350,000 by the end of 2021, a long-standing fractal suggests. First spotted by pseudonymous analyst Bit Harington, the bullish setup drew its inspirations from Bitcoin’s secular bull runs every time after halvings when the miner block reward gets cut in half. Analysts perceive the
The 200 hour MA is breached in the Nasdaq but can’t reached the week low The NASDAQ and S&P remain under the most pressure today. The NASDAQ index is currently down -1.1% at 15014.01. The S&P index is down -41.61 points or -0.93% at 4432.02. Looking at the NASDAQ index (see hourly chart above), it did reach below its 200
Plenty of bravado out there On the one side, there’s an army of China alarmists warning that Evergrande’s looming default is a Lehman moment for China’s property market. On the other, there are those brushing it aside, confident that China will bail out whoever needs bailed out and keep the economy strong no matter what.
The Fibonacci number sequence is a mathematical phenomenon discovered centuries ago that traders use to analyse financial market movements. This video covers the significance of Fibonacci numbers and ratios in history, nature and finance. Topics include: – Examples of Fibonacci extensions in forex trading – How to identify trends – How to use different extensions
Dollar and Yen were the runaway leaders in the forex markets last week. While Fed is not quite likely to announce tapering this week, recent solid data argues that November would finally be the date. Stocks in US and Europe have been losing much upside momentum as central banks are starting to prepare for slowing
The 200 hour moving averages at 109.869 The USDJPY continued the run higher started on Wednesday when the price stall against the August 16 in August 17 lows near 109.11. The move to the upside yesterday cracked above the 100 hour moving average but stalled against the 100 day moving average and backed off. Today, the price retried the move to
Not a great look There’s been a brewing controversy around covid booster shots, which the President touted last month. Biden said they would start rolling out next week. However public health officials have some concerns around the quality of data mandating them. Many argue that the current vaccine regiment is extremely effective at preventing hospitalizations
Gold prices were set for a second weekly loss as a firmer dollar dented the metal‘s allure for holders of other currencies while investors await a key US Federal Reserve meeting for clues on how soon the central bank will start to taper stimulus. FUNDAMENTALSSpot gold was flat at $1,754.86 per ounce, as of 0037