USDJPY on the hourly chart The USDJPY has seen a down, up and back down day. The last move to the downside has seen the price retest the earlier low for the day and also a swing low level going back to last Friday’s trading (see blue numbered circles. The pair did move below that
Gold prices on Thursday steadied near a two-month high hit in the previous session, with higher U.S. Treasury yields preventing any gains amid caution building around developments at the U.S. Federal Reserve‘s meeting due next week. FUNDAMENTALS * Spot gold was flat at $1,839.36 per ounce as of 0031 GMT, steadying near its highest since
U.S. Federal Reserve Board Chairman Jerome Powell attends his re-nominations hearing of the Senate Banking, Housing and Urban Affairs Committee on Capitol Hill, in Washington, U.S., January 11, 2022. Graeme Jennings | Reuters Accelerating inflation could cause the Federal Reserve to get even more aggressive than economists expect in the way it raises interest rates
Blackrock is out with its latest macro perspectives note and it makes a compelling argument: Inflation is largely driven by supply shocks, not fiscal policy and raising rates isn’t the solution. It’s been largely driven by manufacturing shortages and a shift in consumer spending into goods rather than services. We’ve heard all this before and
EURGBP on the hourly chart The EURGBP moved to the lowest level since February 2020 yesterday reaching 0.8305. That took out the previous days low at 0.83124 and also moved below a swing area on the hourly chart at 0.83219 to 0.83242 (see green numbered circles). T The price did bounce off the low, however,
SINGAPORE: prices slipped back on Thursday after hitting their highest levels since 2014 in the previous session on the back of strong demand and short-term supply disruptions, underlying factors that limited losses as investors took profits. Brent crude futures dropped 72 cents, or 0.81%, to $87.72 a barrel, as of 0152 GMT. The global benchmark
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No one knows if Russia is going to invade Ukraine but there are plenty of reasons to worry. Starting Monday, the US State Dept will start evacuating family members of embassy personnel in Ukraine, according to reports. On the diplomatic side, the US said it would respond in writing to a set of security proposals
USDCAD buyers take the price above a cluster of MAs today The USDCAD buyers are making a play today. Here are the technical reasons: The price low yesterday stalled ahead of the price low from Wednesday. The low reached 1.2452. The low from Wednesday’s trade reached 1.24476. Moreover the low from yesterday was near the
TOKYO : Oil prices plunged on Friday, after rising to seven-year highs this week, as an increase in U.S. crude and fuel stockpiles prompted investors to take profits from the rally. Brent crude futures dropped $2.46, or 2.8%, to $85.92 a barrel by 0136 GMT. The contract earlier fell by as much as 3%, the
Decentralized finance, known as DeFi, is a new use of blockchain technology that is growing rapidly, with over $237 billion in value locked up in DeFi projects as of January 2022. Regulators are aware of this phenomenon and are beginning to act to regulate it. In this article, we briefly review the fundamentals and risks
US equities continued to fall on Friday after downbeat subscriber guidance from Netflix, whose shares dropped over 20%. The S&P 500 dropped another 1.6% towards 4400 after failing to test 4500 earlier in the session. The index is now down 5.4% on the week and has broken below its 200DMA for the first time since
The 200-day moving average in the S&P 500 is not to be taken lightly. The last time we had a genuine break below was at the start of the pandemic and it was a free fall from there. Notably, a few minor incursions (pun intended) below have ultimately been buying opportunities. On the day: S&P
It’s not Omicron nor Fed rate hike, but earnings. Bullish investors appeared to have finally gave up after disappointing Netflix report last week. NASDAQ led other major indexes sharply lower, and dragged down cryptocurrencies too. Given that Apple and Tesla will come next, there is risk of even more downside pushes in sentiments. In the
GBPJPY on the hourly chart Yesterday, I posted about the GBPJPY . The pair had continued to find support against a floor at the 155.39 to 155.44 area, but also found resistance against the falling 100 hour moving average (blue line in the chart above). Something had to eventually give, and that was the
NEW DELHI: Gold prices were trading higher on Friday, on course for second consecutive weekly gain. Investors turned to safe-haven assets while awaiting signals on interest rate hikes from the US Federal Reserve’s meeting next week. All eyes are set on the US central bank’s Federal Open Market Committee meet scheduled on January 25-26 for