FX

UK Services PMI dropped to 52.9 in May. Manufacturing PMI in the UK expanded to 51.3. in May. GBP/USD holds higher ground near 1.2740 after mixed UK business PMIs. The seasonally adjusted S&P Global/CIPS UK Manufacturing Purchasing Managers’ Index (PMI) rebounded from 49.1 in April to 51.3 in May, beating 49.5 expectations. Meanwhile, the Preliminary UK

Nvidia delivered the goods when it came to its earnings report for the last quarter. It reported another quarter of record-breaking revenue, up 18% from a year earlier at $26bn. Data centre revenue is, once again, the jewel in the crown for Nvidia. Revenues in this part of the business were also higher by 23%

The US Dollar trades flat ahead of the release of Nvidia earnings and the Fed Minutes. Volatility around the Greenback could pick up with plenty of economic data points on Thursday. The US Dollar Index trades in a tight range, respecting nearby support and resistance levels. The US Dollar (USD) is drifting as markets await

Silver is up 0.47%, just below Monday’s eight-year high of $32.51. Strong upward momentum continues; RSI suggests further gains possible despite overbought conditions. Resistance levels at $32.51, $33.00, and October 2012 high of $35.40. Supports at May 20 low of $30.95, April 12 high of $29.79, and $28.00 psychological level. Silver’s price advanced 0.47% on

Gold price is correcting lower after touching an all-time high of $2,450 on Monday.  Acute bearish divergence on the daily chart could indicate a deeper correction may follow.  The pullback appears to be driven by central banks communicating a reluctance to lower interest rates.  Gold price (XAU/USD) retreats to the $2,410s on Tuesday as commentary

Dow Jones briefly tipped into a new record high, but cautious tones remain. Fedspeak dominates headlines on quiet Monday, risk appetite hesitates. Rate markets still bet on September rate cut, but odds are easing. The Dow Jones Industrial Average (DJIA) tested into a new all-time record high on Monday, but price action is getting pushed

CVX Elliott Wave Analysis Trading Lounge Daily Chart, Chevron Inc., (CVX) Daily Chart. CVX Elliott Wave technical analysis Function: Trend. Mode: Impulsive. Structure: Motive. Position: Minor wave 1.   Direction: Upside in Minute {v}.   Details: Looking for a top in Minor wave 1, to ideally break previous wave B top at 171$ to give us additional upside

Cautious Fed officials and robust Q2 growth limits the USD downside. Markets continue to bet that the easing cycle will start in September. If data continues to underperform, the Fed might consider a July rate cut. The US Dollar Index (DXY) is currently trading at 104.50, maintaining a neutral stance. Strong The overall Q2 growth

Gold breaks above $2,400, nearing all-time high of $2,431. Lower April inflation in the US supports Gold’s rally, despite rising Treasury yields. Fed officials remain cautious, with December 2024 rate cut expectations slightly adjusted to 35 bps. Gold’s price skyrocketed during the North American session ahead of the weekend as XAU/USD traded above $2,400, posting

The daily chart reveals a strong bullish sentiment with indicators deep in positive territory. Hourly indicators show a flattening buying traction but remain positive. The pair closed its best week since November 2023. In Friday’s session, the NZD/USD rose to the 0.6137 level, demonstrating a strong bullish trend. After closing above its main Simple Moving

The British Pound registers gains of 0.21% against the US Dollar, although higher US Treasury yields failed to underpin the Greenback. At the time of writing, the GBP/USD pair trades at 1.2703 after bouncing off a daily low of 1.2644. Read More… The Pound Sterling (GBP) turns sideways in Friday’s American session after posting a fresh monthly high at

The Greenback lost further ground and dropped to multi-week lows on the back of rising expectations of interest rate cuts by the Fed, a view that was further reinforced by lower US CPI data in April The Greenback remained on the back foot and dragged the USD Index (DXY) to the 104.00 zone amidst an

AUD/JPY inches lower after the release of mixed Chinese data on Friday. China’s Retail Sales rose for the successive 15th month but the softest gain in this sequence. Former BOJ chief economist Toshitaka Sekine suggested the central bank could raise the rate three times in 2024. AUD/JPY hovers around 103.70 during the European trading hours

Gold slips 0.24%, influenced by rising US Treasury yields, firm US Dollar. Mixed US economic data includes higher jobless claims and mixed housing data. Fed officials highlight ongoing inflation challenges and steady monetary policy stance. Gold prices fell in the mid-North American session on Thursday, below $2,390, as US Treasury yields recovered and underpinned the

NZD/USD pulls back from a two-month high of 0.6140 marked on Thursday. Technical analysis suggests a confirmation of the bullish trend for the pair. The pair could find the key resistance at the major level of 0.6150. NZD/USD retreats from a two-month high of 0.6140, trading around 0.6110 during the European session on Thursday. The

Gold price hits $2,390, its highest level in three weeks, gaining over 1%. US Treasury bond yields plunge, US Dollar Index drops to five-week low. April Retail Sales stagnate, while Fed officials express concerns about restrictive monetary policy. Gold price extended its uptrend for the second straight day on Wednesday and hit a three-week high

Silver prices (XAG/USD) rose on Wednesday, according to FXStreet data. Silver trades at $28.77 per troy ounce, up 0.54% from the $28.62 it cost on Tuesday. Silver prices have increased by 12.96% since the beginning of the year. Unit measure Today Price Silver price per troy ounce $28.77 Silver price per gram $0.92 The Gold/Silver

GBP/JPY marches higher as markets eat away at “Yentervention” territory. UK labor figures worsened, but not as badly as expected. Japanese GDP growth due on Thursday. GBP/JPY rose further on Tuesday, clipping into the 197.00 handle as the broader FX market continues to sell the Japanese Yen (JPY) across the board. UK labor figures wobbled