In today’s Asian trading session, Dollar witnessed a remarkable bounce as concerns over inflation reemerged, driven by a sudden upswing in oil prices. WTI crude oil fleetingly broke the 80 level after Saudi Arabia and other OPEC+ oil producers made an unforeseen announcement on Sunday, revealing additional oil output cuts of around 1.16 million barrels
GBPUSD remains within a channel trendline The GBPUSD experienced a decline as the dollar strengthened during the London fix, with the lowest price reaching 1.23437. This level aligns with the lower boundary of a swing area between 1.2343 and 1.23603. Subsequently, the GBPUSD rebounded from this support level, now trading at 1.2365. The support holding
The final for the Judo Bank / Markit manufacturing purchasing managers’ indexes (PMI) in March 2023. The preliminary and prior for this indicator are here: more to come The RBA meet tomorrow, their rate hikes are weighing on economic activity. In summary from the report: Warren Hogan, Chief Economic Advisor at Judo Bank said: “Supply
Share: USD/CAD bears lurking for the open on OPEC news. OPEC producers announce voluntary oil output cuts. USD/CAD ended Friday near flat but the Canadian Dollar edged lower against its US counterpart although it held near its strongest level in more than five weeks. The pair fell from a high of 1.3564 to a low of
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Gold has been the best performing asset class in FY23 and a robust outlook on bullion remains intact for FY24, as well. As fears of global slowdown and high inflation loom, the yellow metal is expected to give returns of 10-15% in the base case scenario and 15-20% in the bull case scenario. “On the
The major U.S. stock indices are reaching new session highs, with each index on a three-day winning streak. The NASDAQ is leading the pack with an solid 1% gain. Here is a snapshot of the current market performance: Dow Jones Industrial Average: Up 228 points, or 0.70%, at 33,087.50 S&P 500 Index: Up 32.30 points,
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
Share: US Department of Commerce reported that PCE was below estimates, spurring speculations for a Fed shift. Oil prices rise after output reduction at several oilfields in northern Iraq’s Kurdistan region. Western Texas Intermediate (WT), the US crude oil benchmark, is set to finish the week with more than 9% gains after touching a YTD
Oddly, following news of a New York Grand Jury voting to indict former president Donald Trump on March 30, the floor price for the officially licensed Trump Digital Trading Cards NFT project pumped. According to data from OpenSea, NFT traders were seemingly spurred into action by the announcement, with the floor price moving from 0.46
Banking industry concerns continue to recede, though the risk of banks’ deposit outflows to money market funds may affect the lending process of the banks, which means that eventually, there is a distinct possibility of economic slowdown in the coming months. In absence of any major negative headlines concerning the banking sector, risk appetite has
Did you spot the triple top in gold ‘s price, along with its struggle to break past the 2000 mark? If a high-reward, low-probability trading opportunity piques your interest, this gold price forecast could be right up your alley. Just remember, always trade at your own risk! Gold technical analysis: Anticipating a short trade soon
A bank run can seemingly come out of nowhere but by the same token, it can evaporate just as quickly. Yesterday the shorts took at run at Metropolitan Bank with some success but shares have rebounded 23% today and the KRE regional bank ETF is up 0.2%. Undoubtedly, banks are wounded after the latest rout
An inflation gauge the Federal Reserve follows closely rose slightly less than anticipated in February, providing some hope that interest rate hikes are helping ease price increases. The personal consumption expenditures price index excluding food and energy increased 0.3% for the month, the Commerce Department reported Friday. That was below the 0.4% Dow Jones estimate
Share: A triple bottom in the EUR/USD daily chart remains in play but at a brisk of being negated. EUR/USD’s price action during the last couple of weeks created a double top, which could shift the pair’s bias. The Euro (EUR) drops from around weekly highs of 1.0925 on a buoyant US Dollar (USD) and
Gold prices eased on Friday as the dollar edged up ahead of key U.S. inflation data that could influence the Federal Reserve’s monetary policy path. FUNDAMENTALS * Spot gold was down 0.1% at $1,978.39 per ounce, as of 0043 GMT, after rising 1% on Thursday. U.S. gold futures fell 0.1% to $1,996.50. * The dollar