Share: If all the economists were laid end to end, they would still not reach a conclusion. – George Bernard Shaw As a card-carrying economist, I resemble that conclusion. But there may be one major exception to Shaw’s rule. Virtually every economist in the world believes that monopolies are not good. In nearly all cases,
The RBNZ will be meeting and announcing their rate decision on Wednesday in New Zealand (8 PM ET/0100 GMT). The expectations are mixed (from 0 bps to 50 bps) as the RBNZ ponders putting off an expected hike after the devastating cyclone last week. Eamonn posted that KiwiBank has weighed-in saying the expected hike of
SNB is still willing to be active in FX markets Very strict about price stability mandate The EURCHF has been consolidating over the last 10 days mostly between 0.98459 and 0.99248. Today, the price fell back below its 100 day moving average at 0.9871, and stayed below its 200 day moving average of 0.98927. The
Gold prices rose Rs 50 to Rs 56,307 per 10 grams in the national capital on Monday amid gains in the precious metal globally, according to HDFC Securities. The yellow metal had ended at Rs 56,257 per 10 grams in the previous trade. Silver prices also increased by Rs 140 to Rs 65,770 per kg.
Australian Dollar is leading other commodity currencies higher, in otherwise quiet markets today. US and Canada will be on holiday while European calendar is near empty. Trading should remain relatively subdued. RBNZ rate hike is a major focus this week while PMIs will also catch much attention. Yet, the key is whether risk markets could
Share: USD/MXN jumps from YTD lows around $18.33 and climbs to 18.40. USD/MXN Price Analysis: Positive divergence remains, which could pave the way for a recovery. The USD/MXN bounces after hitting multi-year lows around 18.3301, snapping three days of consecutive losses. Nevertheless, the USD/MXN would remain pressured after a strong downtrend dragged prices from the
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Are you struggling to understand the role of supply and demand in forex trading? As a forex trader, it’s essential to know how supply and demand affect currency prices. In this video, I’ll share top tips for mastering supply and demand in forex trading. From identifying key levels to using supply and demand in your
EURUSD moves to a new high In my last post on the EURUSD, I said: “Looking at the hourly chart, the price bounce moved back above the swing low from Monday, Wednesday and yesterday and the swing low from last week. That area comes between 1.0653 and 1.0668. The price is back in that swing
The inflation data for the U.S. came in hot last week, but not as bad as feared. The fight against inflation is not over yet so the market understands that rate cuts are not on the table. As a reaction, the U.S. dollar strengthened. This week we have a light calendar with a bank holiday
Share: EUR/USD is looking to reclaim 1.0700 amid a recovery in the market mood. The USD Index has refreshed its day’s low at 103.58 as the geopolitical tensions-inspired volatility has faded away. Goldman Sachs expects the Fed to raise interest rates three more times this year. The EUR/USD pair has attempted a recovery after dropping
New logo slated for Yuga’s dog-themed NFT collection The logo for the Bored Ape Kennel Club (BAKC) from nonfungible token (NFT) conglomerate Yuga Labs is getting a refresh after recently surfaced allegations of intellectual property theft. Yuga co-founder, Greg Solano, more widely known as “Garga” tweeted on Feb. 18 that the BAKC logo would be
Gold prices fell on Monday, weighed down by a stronger dollar and after recent U.S. economic data raised worries that the Federal Reserve could hike interest rates further. FUNDAMENTALS * Spot gold was down 0.2% at $1,837.59 per ounce, as of 0048 GMT. U.S. gold futures eased 0.1% to $1,847.60. * The dollar index was
AUDUSD moves back above the old floor area up to 0.68706 The AUDUSD bounced near the 200 day MA earlier today. The low reached 0.68117. The 200 day moving average was 0.68054. So the price got within six – seven pips of the key moving average target. Close enough for risk focused buyers. The price
If you were to glance at stock markets today, you would get the impression it was a ‘risk off’ day and that was true to a large extent early in the day but it’s unwound in both forex and bonds in US trading. The US dollar is generally lower today overall with losses against the
Global oil prices have held relatively steady since November last year. Despite several geopolitical factors affecting its fundamentals, it has been congested inside $83-70 per barrel throughout this period. Amid fears of a global supply glut, the G7-led price cap on Russian oil and Moscow’s plan for a drastic production cut had little impact on
Share: The EUR/JPY is registering gains of 2.22% in the week after facing solid resistance around 143.60. EUR/JPY Price Analysis: In consolidation within a 130 pip range circa the 143.00 psychological barriers. The EUR/JPY hit a fresh weekly high at 143.67 but reversed some of those gains, resting comfortably above Thursday’s high ahead of the
CNBCs Steve Leesman, commenting on the markets said on Friday, “If you are not confused, you’re not paying attention”. There is a lot of confusion in the market, and even at the Fed. The CPI inflation released this week, added some added confusion as it was a little more hefty than recent months. There still