U.S. Federal Reserve Chairman Jerome Powell testifies during the Senate Banking Committee hearing titled “The Semiannual Monetary Policy Report to the Congress”, in Washington, U.S., March 3, 2022. Tom Williams | Reuters Federal Reserve Chairman Jerome Powell is set to appear before Congress with a tall task: Persuade legislators that he’s committed to bringing down
Share: Gold price bears are in the market and eye $1,830s. Fed’s Powell is the next major catalyst ahead of NFP. Gold price was a touch softer in the US session even as the US Dollar dropped and yields rose ahead of Jerome Powell’s testimony to Congress. The yellow metal was sliding below $1,850 after
The hopeful optimism of Bitcoin (BTC) traders seemed to dissipate in the first week of March as key on-chain metrics provided resistance. Now Bitcoin is threatening a retest of the $22,000 level, and a wave of short sellers would stand to profit if that occurred. If the short sellers’ strike price hits, some analysts believe
After gold jewellery, the government plans to make hallmarking of gold bullion mandatory and is ready with the draft guidelines, Bureau of Indian Standard (BIS) Director General Pramod Kumar Tiwari said on Monday. Hallmarking — a quality certification — has been made mandatory with effect from July 1, 2022 for gold jewellery (14, 18, and
Swiss Franc climbed against major currencies following the release of stronger-than-expected inflation data, which is expected to bolster the case for SNB to raise interest rates by 50bps during their upcoming meeting this month. Euro also gained ground, supported by hawkish comments from ECB officials, while Dollar trailed behind. Conversely, Australian Dollar is trading as
AUDUSD falls below the 100 hour/ 100 day MAs The AUDUSD closed on Friday just above its 200 hour MA (green line in the chart above near 0.67587). A close of a week above a MA by a few pips can be misleading. It could simply be end of week position squaring. The trading price
> iVEY PMI comes in at 51.6 versus 54.7 last month Seasonally adjusted Ivy PMI Ivey PMI’s seasonally adjusted comes in a 51.6 versus 60.1 last month Ivey PMI not seasonally adjusted comes in at 50.8 versus 54.7 last month ADVERTISEMENT – CONTINUE READING BELOW Tags ADVERTISEMENT – CONTINUE READING BELOW Most Popular ADVERTISEMENT –
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Share: Market Strategist Quek Ser Leang at UOB Group favours the continuation of the current consolidation in USD/IDR. Key Quotes “Our narrative last week was ‘Further USD/IDR strength is likely but it remains to be seen if the next major resistance at 15,490 is within reach this week’. Our view did not materialize as USD/IDR
Gold prices retreated on Monday from an earlier 2-1/2 week high as traders awaited U.S. Federal Reserve Chair Jerome Powell‘s testimony this week for hints on future rate hikes. Spot gold was down 0.2% at $1,851.52 per ounce as of 0930 GMT after hitting its highest since Feb. 15 in earlier trade at $1,858.19. U.S.
Mixed market sentiment led to a recovery in Yen during Asian session. Nikkei opened higher following a strong close in Wall Street on Friday. Meanwhile, stocks in Hong Kong and China were sluggish despite China’s announcement of an ambitious growth target of around 5% this year. Euro and Swiss Franc are trailing the Yen higher,
A threat to your trading is to not being simple enough. We are all tempted to think that the more we know, the more we learn and apply will lead to more and more success. In some things in life, that works, but there is also the law of diminishing returns which can not only
Comments from Vice Chair of the National Development and Reform Commission of the People’s Republic of China (NDRC) after the country’s growth target was set at around 5% over the weekend. This was seen as a little disappointing. Analyst consensus was a touch higher around 5.5%. The more modest target reduces the need for economic
Share: AUD/USD pares the first weekly gain in three around the lowest levels in two months. Convergence of 100-EMA, one-month-old descending resistance line adds to the upside filters. Bullish MACD signals, RSI’s upward grind keeps pair buyers hopeful. Downside break of ascending support line from Wednesday appears crucial for bear’s return. AUD/USD prints mild losses
Update (March 5, 9:22 p.m. UTC): This article has been updated to include Binance’s response. Crypto exchange Binance sought to hire Gary Gensler as an advisor before he became chairman of the United States Securities and Exchange Commission (SEC), according to a Wall Street Journal report based on messages and documents from 2018 and 2020,
Oil prices slipped in early trade on Friday but were on track to post gains of nearly 2% for the week as a rebound in China‘s factory activity offset growing concerns about rising U.S. crude stocks and potential rate hikes in Europe. Brent crude futures fell 39 cents, or 0.5%, to $84.36 a barrel at
Stocks are looking good (jinx). Just when you thought the major indices were setting up for a tumble lower, a regional Fed president (Bostic) comes in and says something less hawkish than the rest (Waller, Mester, Kashkari), and its risk-on all the sudden. Technically, the major indices have also dug themselves out of bearish holes.