In the opinion of FX Strategists at UOB Group Lee Sue Ann and Quek Ser Leang, GBP/USD still risks a deeper pullback in the short term. Key Quotes 24-hour view: “Our expectations for GBP to ‘trade sideways’ yesterday was incorrect as it plummeted to a low of 1.1622 during NY session. While the rapid drop
PROOF, the private community behind the Moonbirds NFT collection, has announced it is shifting its blue-chip collection completely “in chain” — allowing images to be fully contained within the underlying smart contract. In a community live stream named “Future PROOF” on Aug. 30, Harri Thomas, director of products at PROOF explained that the new approach
USDCAD surges to new highs helped by oils sharp fall The price of crude oil has moved sharply to the downside today after doing the complete opposite yesterday. For the USDCAD yesterday, the price move moved (higher CAD) as it followed the rise in oil . Today, the USDCAD is moving sharply higher following the
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
Oil prices fell more than $7 a barrel on Tuesday, the steepest decline in about a month, on fears that an inflation-induced weakening of global economies would soften fuel demand and as unrest in Iraq has failed to put a dent in the OPEC nation’s crude exports. Brent crude futures for October settlement were down
Euro is trying to extend recent rally, but the gains also so far concentrated against Sterling and Swiss Franc. Persistent flow of hawkish comments from ECB official is support the common currency nevertheless. Australian Dollar and Yen are currently the stronger ones for the day. The Pound, Franc and Dollar are the weaker ones. Technically,
A “Now Hiring” sign is posted at a Home Depot store on August 05, 2022 in San Rafael, California. Justin Sullivan | Getty Images There were nearly 1 million more job openings than expected in July, an inflationary sign that the U.S. labor market is still extremely tight, the Bureau of Labor Statistics reported Tuesday.
In this article BBY Televisions are seen for sale at a Best Buy store in New York City. Andrew Kelly | Reuters Best Buy on Tuesday said sales dropped by about 13% in the fiscal second quarter, as the retailer felt a pullback from inflation-weary shoppers. The company’s shares rose about 4% in early trading,
The EUR/GBP accelerated the move to the upside and jumped to 0.8601, reaching the highest level since July 6. While the euro is among the best performers, the pound is under pressure amid risk aversion. Read More… The GBP/USD pair struggles to capitalize on its modest intraday uptick to the 1.1760 area and the previous YTD
USDCAD rotates back to the 100/200 hour MA area The USDCAD hasd moved back down toward at swing area between 1.29845 to 1.29892. Below that is the near converged 100/200 hour MAs near 1.2977. The price action today saw the price initially move higher running into a swing area near 1.3075 to 1.3092. What now?
On the month, inflation in Germany’s industrial state is seen up 0.3% relative to July. This continues to reaffirm elevated price pressures and the annual reading fits with estimates of a higher print later when it comes to the national report. We’ll see what the other state readings have to offer first before getting a
NEW DELHI: Gold prices in the domestic market traded lower, bucking the global trend, thanks to a weaker rupee. However, the weakness in the dollar curbed the losses. The dollar index was off a two-decade high hit on Monday, while the benchmark 10-year yields pulled back from a two-month high hit in the previous session.
The markets are generally quiet in Asian session today. Euro surged notably yesterday as traders raised their bets on ECB rate hike next week, with some expecting a 75bps increase. But there is no clear follow through buying for now. While Dollar is paring some recent gains, loss is also limited. For now, Sterling, Swiss
The U.S. economy is going to fall into a recession next year, according to Steve Hanke, a professor of applied economics at Johns Hopkins University, and that’s not necessarily because of higher interest rates. “We will have a recession because we’ve had five months of zero M2 growth, money supply growth, and the Fed isn’t
Open interest in gold futures markets rose for the second session in a row on Monday, this time by just 454 contracts according to preliminary readings from CME Group. On the other hand, volume reversed two consecutive daily builds and shrank by around 24.3K contracts. Gold: Next on the downside comes $1,711 Gold prices charted
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Forex is simply a short form for foreign exchange. It is the exchange of one currency for another Locally, when we go to the bank to exchange one currency for another, we just partook in foreign exchange. But digitally, we trade forex by using a certain mobile application. We gain access to the forex market
Nasdaq is back below the 100 day MA The Nasdaq index has a high today of 12124.87. That did take the price back above the the indices 100 day at 12109.50, but not for the long. The price has rotated back to the downside reaching a new intraday lows at 11981.42. The current price is