USDCAD can not stay below the 200 day MA The USDCAD moved sharply lower yesterday and fell for the 3rd day in a row. The pairs move to the downside, was able to extend back below the low from last Friday after the stronger than expected jobs report validated the BOC decision to raise rates
Reliance Industries Ltd (RIL) has asked its fuel dealers to brace for a 50% cut in diesel supply since the company is losing Rs 10-12 per litre on sale of diesel, said industry executives aware of the development. The company took the decision in a meeting on Wednesday night to halve the diesel supply from
The New Zealand dollar posted gains of 3% vs. the Japanese yen amid a risk-on market mood. The euro and the Japanese yen suffered losses against most G8 currencies. NZD/JPY Price Forecast: The bias is upward, but the steepness of the rally might spur a correction before resuming up. The NZD/JPY extends its gains in
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USDCHF on the daily chart The USDCHF peaked this week on Wednesday at 0.94594, but stalled ahead of the swing high from 2021 (from April) at 0.9472. The price closed lower on that day and again yesterday. Today the price is also lower with more up and down trading. Looking at the daily chart, the
In its weekly FX pick, analysts at MUFG suggest selling the euro from spot with a target at 1.0710 and a stop at 1.1230. “Based on the events unfolding and the immediate outlook ahead, we see a greater risk of a renewed deterioration in market conditions with the US dollar set to advance versus European
Russian crude that’s selling at a deep discount due to Western sanctions. Hindustan Petroleum Corp Ltd (HPCL) has purchased 2 million barrels of Russian crude, according to people familiar with the matter. Mangalore Refinery and Petrochemicals Ltd (MRPL) has floated a tender seeking one million barrels of oil, with an eye on securing cheap Russian
GBP/USD Weekly Forecast: Bullish potential limited, with UK inflation, Ukraine in spotlight Optimism over a probable truce between Russia and Ukraine offered a sigh of relief to risk-sensitive currencies such as the British pound. GBP/USD staged an impressive comeback, as the US dollar failed to capitalize on the hawkish Federal Reserve (Fed) outlook. Cable booked
AUDUSD trades near session highs The AUDUSD is retesting the high for the day at 0.74085. That high was made in the late Asian/early European session. The subsequent fall saw the pair move below a swing area between 0.73675 and 0.73799. The last dip came on the back of the Fed’s Waller hawkish comments and
The Canadian dollar finished the week strong with USD/CAD falling to 1.2600 at Friday’s close from as high as 1.2870 on Tuesday. That’s very close to the seven-week low of 1.2587 set at the start of the month. For months, the loonie has been stuck in a push-and-pull from rising commodity prices, sinking risk appetite
March 18: Gold eased on Friday and prices were set for their biggest weekly drop since late November as hopes for progress in Russia-Ukraine peace talks dented the metal‘s safe-haven appeal. Spot gold slipped 0.2% to $1,938.29 per ounce by 0209 GMT. U.S. gold futures were down 0.3% to $1,937.30. The metal has fallen about
Yen’s down trend continued last week and even accelerated against commodity currencies. Persistent rally in benchmark yields, rebound in stocks, and diverging central bank expectations are expected to weigh on Yen further. Meanwhile, expected rate hike by Fed and BoE didn’t provide much support to Dollar and Sterling, as both closed among the weakest. On
The British pound trimmed some of the last week’s losses, finished up 1.07%. Russia – Ukraine peace talks slowed amid failure to reach an agreement. US President Biden and China’s Xi talked about Russia – Ukraine. Fed’s Bullard, Waller, and Kashkari crossed the wires. GBP/USD Price Forecast: The bias is downwards unless GBP bulls reclaim
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New Jersey-based crypto financial institution BlockFi confirmed a data breach incident via one of its third-party vendors, Hubspot. BlockFi’s proactive warning about the breach aims to deter the intentions of bad actors in repurposing the user data for fraudulent activities. According to the announcement, the hackers gained access to BlockFi’s client data on Friday, Mar.
NZDUSD retest its 200 day moving average today The NZDUSD has moved up to retest its 200 day moving average today. That level comes in at 0.69099. The high price reached 0.69089 and backed off. The current price is trading at 0.6895. Traders tested that 200 hour moving average earlier this month and found sellers