Gold struggled for momentum in early Asian trading on Friday, as traders awaited key U.S. inflation numbers due later in the day after a slew of strong data prints and hawkish comments from Federal Reserve officials raised bets of more rate hikes. FUNDAMENTALS * Spot gold was flat at $1,908.33 per ounce by 0122 GMT.
In the run-up to the close of the first half, forex markets appear to be treading water in today’s Asian session. Market responses to China’s lackluster PMI data have been tepid, while Yen remains largely unfazed by Japan’s industrial production figures and Tokyo’s CPI. Asian indexes are mixed with mild selloff in Nikkei. Dollar and
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Want some of MY Trades? 👉 https://t.me/TWPVIPBot In this episode, I will explain the 94.44% WIN Rate Supply and Demand Trading Strategy. Supply and Demand is the best Forex trading strategy in 2023. It’s what I used this week for a 99.44% backtest, and 100% win rate on live trades. There are many different indicators
Share: Strong GDP and jobless claims data drive US Dollar, yet USD/CAD records marginal losses. Fed’s signal of two more rate hikes by year’s end boosts odds for a July rate hike to 87%. Traders anticipate upcoming GDP data and BoC outlook survey for clues on Canada’s economic health. USD/CAD registered minuscule losses on Thursday
I know…. the USDJPY is overbought. The RSI is above the 70 level indicative of an overbought condition in the USDJPY. The RSI in the USDJPY has not been this high since October 2022. The problem is the USDJPY has been overbought over the last 6-7 days. During that time, the price has moved up
Reuters have the report, citing unnamed sources: The United States and the Netherlands are set to further restrict sales of chipmaking equipment to China, to prevent the technology from being used to strengthen China’s military While the Dutch are planning to curb certain equipment from national champion ASML, and other companies, the U.S. is expected
Commodity exchange MCX has decided to extend its software support contract with 63 moons technologies, the former promoter of the bourse, after repeatedly failing to transition to a new trading platform within stipulated deadlines. In separate early morning stock exchange filings, Multi Commodity Exchange of India Ltd and 63 moons said the contract has been
In the currency trading arena, there’s been a notable lack of movement today. Gold has caught the market’s attention, sliding past the 1900 psychological level. Yet Dollar remains relatively undisturbed, also showing no significant response to the latest jobless claim data and Q1 GDP final figures. Likewise, the release of higher-than-anticipated German CPI data sparked
David Leal installs a tailpipe on a vehicle at Muffler Pros on April 12, 2023 in Hollywood, Florida. Joe Raedle | Getty Images The U.S. economy showed much stronger-than-expected growth in the first quarter than previously thought, according to a big upward revision Thursday from the Commerce Department. Gross domestic product increased at a 2%
In this article NKE Follow your favorite stocksCREATE FREE ACCOUNT A customer enters a Nike store along the Magnificent Mile shopping district on December 21, 2022 in Chicago, Illinois. Scott Olson | Getty Images Nike missed on earnings during its fiscal fourth-quarter for the first time in three years as the retailer reported lower margins
Canadian lawmakers in the House of Commons have shown their support for blockchain technology and cryptocurrencies in a report released by the Standing Committee on Industry and Technology (INDU). The report, which consists of 16 separate proposals, highlights the advantages and potential of blockchain technology in various sectors. As a result of the INDU’s deliberations,
Share: Economists at Commerzbank analyze ECB policy outlook and its implications for the EUR/USD pair. If no more steps are required there are no reasons to extrapolate yesterday’s EUR weakness The Italian government is already voicing furious criticism of the ECB rate hikes. However, we know that on the ECB board, the monetary policy ideas
EURUSD retests the 100 hour MA In the video, from earlier today, I outlined the “value area” where most of the trading activity has occurred over the last 9-10 days. That range is from about 1.0890 up to 1.0973 (give or take a few pips). In between sits the near-converged 100 and 200-hour moving averages.
It has been quite a straightforward downside move in gold after the break of its 100-day moving average (red line) earlier this month. Price is now down 0.1% to $1,905 levels as sellers stay on the hunt of a push towards the $1,900 mark: Gold (XAU/USD) daily chart The correction after approaching the 2020 and
Gold prices lingered near their lowest in nearly four months on Thursday, as U.S. Federal Reserve Chair Jerome Powell kept the door open for more interest rate hikes to bring down inflation.FUNDAMENTALS* Spot gold rose 0.25% to $1,912.19 per ounce by 0123 GMT. On Wednesday, the metal hit its lowest since mid-March at $1,902.69.* U.S.
In today’s Asian trading session, forex markets are experiencing a lull, with most of the major currency pairs and crosses moving within the boundaries set by yesterday’s trading ranges. The anticipated volatility sparked by the robust remarks from the heads of the ECB, Fed, BoE, and BoJ during the ECB forum overnight failed to materialize.