USDJPY falls to the 100/200 hour MA target The flight into the safety of the JPY is continuing with the USDJPY moving lower as stocks keep most of their declines. Looking at the hourly chart, the USDJPY tried to extend above a swing area going back to November 28 between 137.48 and 137.85 and the
What a fakeout in stocks this week. The bulls were feeling great after the soft CPI and hopeful that Powell would tip the nod towards easier policy. Instead, he leaned in hard to hikes and that was followed by an even-more hawkish lean from Lagarde. Now the bond market is signaling an unnecessary recession and
The Digital Currency Group and its affiliates (DCG), which manages $296.7 million (280 million euros) in deposits and digital assets of crypto exchange Bitvavo for off-chain staking services, suspended repayments citing liquidity problems amid the bear market. However, Bitvavo announced to prefund the locked assets, preventing DCG-induced service disruption for users. With users proactively exploring
New Delhi: Even as silver has had a volatile 2022, with the white metal seeing strong profit booking currently, it has managed to beat the yellow metal – gold. However, silver is not merely a precious metal as it has some industrial value too. The low industrial demand due to the global slowdown and drastic
Silver prices bounce and cling to gains, despite a buoyant US Dollar. Near-term, XAG/USD might consolidate, as mixed signals between the RSI/RoC suggest caution is warranted. Silver is recovering some ground after falling to weekly lows during the New York session of $22.56. However, a late buying impulse keeps XAG/USD trading in the green with
USDCHF between 100 and 200 hour MAs The USDCHF moved higher today and in the process moved up to test the 200 hour MA at 0.93362 (green line in the chart above). The price high reached 0.9335 and backed off. The current price is at 0.9322. Earlier today, the pair moved above the 100 hour
Markets: Gold up $16 to $1793 US 10-year yields up 3.6 bps to 3.48% WTI crude oil down $1.80 to $74.31 S&P 500 down 43 points to 3852 (-1.1%) JPY leads, CHF lags The market continued to digest the Fed and ECB stance on Friday and the message is a souring of the mood, leading
Oil fell over 3% on Friday as the market assessed the aftermath of interest rates hikes by central banks, but was still poised for a weekly gain amid supply disruption concerns and hopes for a recovery of demand in China. The U.S. Federal Reserve indicated it will raise interest rates further next year, even as
Sterling is staying as one of the weakest for the week, after being sold off on weak economic data. The pressure is particularly apparent against Euro and Swiss Franc, which are the strongest ones for the week. While the financial markets are clearly in risk-off mode, Dollar is struggling to find renewed buying for now.
The USD/JPY failed to gain traction despite rising US Treasury yields. USD/JPY Price Analysis: Remains upward biased, though a pullback toward 136.00 is on the cards. The USD/JPY fell after testing the 20-day Exponential Moving Average (EMA) around 137.88 and dropped below the 137.00 mark in the North American session amid a risk-off impulse. At
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EURUSD skims the 100 hour MA The EURUSD is continuing to skim along the 100 hour moving average currently at 1.06164 and moving higher. Looking over the last few days, the price has been testing that MA line, only to have limited success on a break with further momentum. The MA is moving higher which
Early trading showed some resilience in equities but that’s quickly evaporated. The selling picked up after the soft US services PMI and that’s interesting because it means that the bad-news-is-good-news narrative is failing. That’s because the Fed appears to be determined to hike despite mounting signs of a slowdown. Said another way, the market is
In this article DRI Follow your favorite stocksCREATE FREE ACCOUNT An Olive Garden restaurant in Times Square in New York Richard Levine | Corbis | Getty Images Darden Restaurants on Friday reported quarterly earnings and revenue that beat Wall Street’s expectations, as consumers continued to eat out despite pressure from inflation. The company also raised its earnings
President of the European Central Bank Christine Lagarde attends a hearing of the Committee on Economic and Monetary Affairs in the European Parliament on November 28, 2022 in Brussels, Belgium. Thierry Monasse | Getty Images News | Getty Images The European Central Bank opted for a smaller rate hike at its Thursday meeting, taking its