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
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Gold traded in the green on Monday in the early trade extending gains for the third straight session riding on tension in the Middle East. The Dollar Index’s (DXY) weakness further aided its cause with the US producer price data last week renewing bets for an early rate cut by the Federal Reserve and thus
Euro trades mildly higher today after two known ECB hawks raised skepticism about a near term rate cut. Yet, upside momentum is somewhat tempered by weak trade and production data. Also, Euro is outshone slightly by Dollar, but the latter is also struggling to break out from familiar range other major currencies. Subdued trading could
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 rose more than 2% on Friday as the United States and Britain carried out strikes against Houthi military targets in Yemen in retaliation for attacks by the Iran-backed group on shipping in the Red Sea starting from late last year. Brent crude futures were up $1.81, or 2.3%, at $79.22 a barrel, while
UPCOMING EVENTS: Monday: PBoC MLF, US Markets closed for MLK Day, BoC Business Outlook Survey. Tuesday: UK Labour Market report, Canada CPI, Fed’s Waller. Wednesday: China Industrial Production and Retail Sales, UK CPI, US Retail Sales, US Industrial Production, US NAHB Housing Market Index. Thursday: Australian Labour Market report, ECB Minutes, US Building Permits and
MCX Gold and Silver contracts, mastering key technical indicators is crucial for making informed decisions in the dynamic precious metals market. This exploration centers on the effective use of Moving Averages, particularly the Exponential Moving Averages (EMAs) 8 and 21, for identifying trends, potential reversal points, and implementing risk management strategies. Moving Averages (MA) –
The AUDUSD technicals are closing what has been an up-and-down trading week with a bias to the downside. That is a result, of the price action that has taken the price back below the 200 and 100-hour MAs at 0.6711 and 0.6700. Staying below those MAs tilts the bias more to the downside. Although the
Citi Research on Friday lowered its Brent price forecasts for this year and 2025, citing oversupply concerns but expects prices holding above $70 per barrel in 2024 as OPEC+ keeps global oil markets “finely balanced”. Citi cut its 2024 Brent price forecast by $1 to $74 per barrel and slashed 2025 forecast by $10 to
The major US stock indices are ending the day with mixed results. The Dow was lower on the day and although both the S&P and Nasdaq closed higher, it was only by modest changes. Nevertheless, the Nasdaq is now up 6 consecutive days after starting the New Year on the back foot by moving sharply
Despite repeated OPEC plus output cuts and Israel-Hamas conflict, oil prices shed more than 13 percent in 2023 against its previous year’s average price. However, prices exhibited a varied move throughout the year driven by multiple factors that affected its fundamentals. US NYMEX oil started at nearly $80 a barrel in 2023 but pushed down
Dollar demonstrated a distinct lack of decisiveness in its trading last week, encapsulating a theme of uncertainty that has become characteristic since the start of the year. The greenback has indeed close the week within prior week’s range against most major counterparts, with Canadian Dollar being the only exception. This pattern of indecision is largely
Markets: Gold up $19 to $2047 US 10-yaer yields down 3.4 bps to 3.94% US 2-year yields down 11 bps to 4.15% WTI crude oil up 77-cents to $72.72 S&P 500 up 4 points to 4783 JPY leads, EUR lags The big question everyone is asking for the second day is: Why such a strong
Gold traded in the green on Friday in the opening trade amid slippages in the dollar index (DXY) and on tensions in the Middle East that raised its haven appeal. Despite the uptick, the yellow metal is set to close with the second weekly decline. Taking cues from the international market, MCX February gold futures
Today’s trading in the forex markets reflects a sense of indecision among investors. Dollar, which initially showed signs of recovery, faced an abrupt halt following unexpected decline in US PPI for December. British Pound, despite the release of stronger-than-expected UK GDP data, failed to garner significant support. Japanese Yen is attempting a modest recovery, capitalizing
Headlines: Markets: USD leads, EUR and GBP lag on the day European equities higher; S&P 500 futures down 0.3% US 10-year yields up 2.3 bps to 3.998% Gold up 1.0% to $2,048.83 WTI crude up 3.6% to $74.62 Bitcoin down 0.9% to $45,720 There are a couple of interesting moves in markets today and they
Oil prices leaped 4% on Friday, as oil tankers diverted course from the Red Sea following overnight air and sea strikes by the United States and Britain on Houthi targets in Yemen after attacks on shipping by the Iran-backed group. Witnesses in Yemen confirmed explosions throughout the country. Brent crude futures were up $3.16, or
Dollar’s fleeting post-CPI rally was very short-lived. The greenback quickly reversed its initial gains and has since been trading within a narrow range against other major currencies. Traders appear relatively unfazed by the stronger than expected inflation readings, with markets still pricing in more than 70% chance on Fed cutting interest rate in March. This