The USDCHF broke higher after the stronger than expected US jobs report on Friday. The break took the price above the high of the “Red Box” that had confined the pair going back to August 20. On Monday and into yesterday, the price rotated back to the downside and in the process reentered that”Red Box”.
As I outlined yesterday, China hasn’t done enough to crank up its real economy and that’s led to some heavy selling in Chinese equities. The question is: Will more fiscal stimulus come? The answer might come Saturday. Chinese Finance Minister Lan Fo’an is set to hold a press conference on Saturday at 10 am local
With the ongoing festive season and Diwali around the corner, the prices of gold may be set to touch Rs 80,000/10 gram, believe analysts as the yellow metal has maintained its upward trajectory for the third consecutive year. With Diwali just three weeks away, we are entering a major festival season in India. Traditionally, buying
The Samsung logo is on display at their pavilion during the Mobile World Congress in Barcelona, Spain, on February 28, 2024. (Photo by Joan Cros/NurPhoto via Getty Images) Nurphoto | Nurphoto | Getty Images South Korean tech giant Samsung Electronics said it expects worse-than-expected profit for the third quarter. In guidance released Tuesday, the world’s
USD/CHF gains ground to near 0.8575 in Wednesday’s early European session. Reduced bets of a jumbo Fed rate cut in November support the USD ahead of the FOMC Minutes. The escalating Middle East geopolitical tensions might cap the pair’s upside. The USD/CHF pair trades on a stronger note to around 0.8575 during the early European
Hong Kong markets experienced another day of intense volatility, with benchmark HSI plunging over -5% during the morning session as traders rushed to lock in profits from the recent rally. The sell-off came as disappointment spread among investors after China’s National Development and Reform Commission failed to deliver concrete details on further stimulus measures, following
Trading successfully needs to focus on risks and putting the odds of success in your favor. That can manifest in different ways but one way is recognizing a pattern by traders. When I look at the EURGBP, the pattern on the 4-hour chart is simple. In trading today: The 200-bar MA stalled the rally today
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
Gold December futures contracts at MCX opened flat today at Rs 75,885 per 10 gram, which is down by 0.21% or Rs 160 while silver December futures contracts were trading at Rs 91,530/kg, down by 0.9% or Rs 827. Gold prices have fallen by Rs 500/10 gram in the last one week, while silver prices
Heavy traffic begins to back up on Interstate 275 South as residents evacuate St. Petersburg, Florida, ahead of Hurricane Milton, U.S., October 7, 2024. Octavio Jones | Reuters Hurricane Milton’s once-in-a-century potential could cause damage of more than $50 billion, with the potential to leave behind devastation approaching $175 billion or more in a worst-case
In this article GM Follow your favorite stocksCREATE FREE ACCOUNT New GMC trucks are displayed on the sales lot at Hanlees Hilltop GMC in Richmond, California, July 2, 2024. Justin Sullivan | Getty Images DETROIT — General Motors expects its 2025 adjusted earnings to be in a “similar range” to the company’s results this year,
EUR/GBP declined 0.10% on Tuesday and remains in a range, but bullish bias intact. RSI, flat MACD support a balanced outlook. EUR/GBP should hold above 0.8380 to confirm bullish bias. The EUR/GBP pair remains confined within a recent range and declined by 0.10% on Tuesday to 0.8380. However, the larger time frame bias remains bullish,
Movements in the currency markets today are somewhat mixed today. Commodity currencies are generally underperforming, led by a sharp decline in Australian Dollar. Investor sentiment in Asia was dampened by the lack of detailed stimulus measures from China, following the much-anticipated post-holiday announcement. This disappointment was starkly reflected in Hong Kong’s stock markets, which saw
The USDCHF moved lower off of a spike high after the US jobs report on Friday. The price backed off into the close and move lower in trading yesterday. That move took the price to the high of the “Red Box” (see chart below) that confined the pair going back to August 20. Support buyers
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
Gold prices retreated from record high in the national capital on Tuesday, plunging Rs 400 to Rs 78,300 per 10 grams following fresh selling by stockists triggered by a bearish trend in the global markets. The precious metal had closed at an all-time level of Rs 78,700 per 10 grams on Monday, according to the
In this article PEP Follow your favorite stocksCREATE FREE ACCOUNT A truck with Pepsi logo on a semitrailer is seen at Interstate 95 highway in Maryland, United States, on October 21, 2022. Beata Zawrzel | Nurphoto | Getty Images PepsiCo on Tuesday lowered its full-year outlook for organic revenue after its second straight quarter of
Short Term Elliott Wave View in GDX suggests the zigzag correction should find support towards extreme areas before resume higher to finish the impulse sequence from 5-August, 2024 low. It is showing higher high sequence in daily from September-2022 low and expect short term rally to continue against August-2024 low. Since 5-August, 2024 low, it