In light of the upcoming Reserve Bank of Australia (RBA) meeting, the expected cautious approach of the central bank could act as an important contention zone for the AUD, as investors see the bank’s forward guidance to remain unchanged as well as its mention that further rate hikes should not be ruled out. It is worth mentioning that the RBA remains
Sellers in the USDCHF tried to extend it to the downside in the early New York session, but were thwarted by swing area support between 0.88187 and 0.88241. The low price reached 0.88225 before bouncing back to the upside. That move higher has now taken out the prior high for the day at 0.8854 and now looks toward the high price from last week and Friday trade at...
Monday that the price action looked bullish and the support at $1.2839 looked strong, so I was seeking a long trade from a bullish bounce off this level. However, my analysis was not effective, as the price headed down to $1.2839 but kept going lower without The price has taken more of a bearish turn over the past few days, with the US Dollar getting stronger at...
Monday's trading, NZD/USD remained largely unchanged around 0.6084 while the pair showed ongoing sell-off pressure. However, subtle hints of an imminent near-term reversal are beginning to show up on the hourly chart as bears may step out to consolidate their movements
Markets got overexcited by Powell’s comments, providing bullish investors with a reason to drive XAU/USD upwards. However, the picture has begun to change over the past few sessions, with a new storyline unfolding in the wake of disappointing consumer price data, revealing a stark reality: progress on disinflation is stalling and possibly even reversing
All up, these numbers probably won’t shift the dial on interest-rate expectations, with the first reduction now thought likely to be in June. However, they do underline that the inflation threat remains visible and that near-term rate reductions of any kind can’t be seen as certain yet. Some expected early rate cuts at the start of this year. Now the second half...
price revisited the $64,800 level, dipping below $65,000, for the first time since March 6, on Binance. BTC’s price correction was a significant one as it liquidated several long and short positions in derivatives markets. While $125 million in long positions were liquidated, $27.68 million in shorts were crushed by the asset’s recovery, according to CoinGlass...
EURUSD Jerome Powell hinted that the Fed was convinced that inflation was still bullish and that The bank was hopeful that it would start cutting rates later this year
eurusd price actions from 1.1274 are viewed as a corrective pattern to rise from 0.9534 (2022 low). Rise from 1.0442 is seen as the second leg. While further rally could cannot be ruled out, upside should be limited by 1.1273 to bring the third leg of the pattern. Meanwhile, sustained break of 1.0696 support will argue that the third leg has already started for ...
In the bigger pictures Up trends from low is in progress Medium term outlook will stay bullish as long as support holds Next target is long term resistances
London’s gold price benchmark hit an all-time high of $2150.03 per troy ounce at an afternoon auction on Monday “This rally in gold was triggered by the softer-than-expected U.S. data and the pullback in real rates... but there has been a general bias to buy dips and a positive underlying investor sentiment towards gold that has also made the market vulnerable to...
The GBP/USD pair continued to rebound after the latest UK GDP numbers showed that the economy returned to growth
USDJPY is churning chart paper just above the 149.01 handle as investors gear up for a central-bank-heavy week. The Bank of Japan (BoJ) is expected to deliver an update on its negative interest rate regime early in the Tuesday market session after Japan’s spring wage negotiations showed the highest wage increases in over three decades. The Federal Reserve (Fed) ...
Meanwhile, the markets are still pricing in the possibility that the Fed will begin its rate-cutting cycle as early as June. This, along with ongoing geopolitical tensions, could offer some support to the safe-haven Gold price and help limit losses. Traders might also refrain from placing aggressive directional bets ahead of the crucial two-day FOMC policy meeting...
As the gold market is expected to consolidate around its recent record highs, investors are finding value in other areas of the precious metals market as it could be silver’s turn to run, according to some analysts. While relatively calm; however, there are some signs investors are finally paying attention to the market as the gold/silver ratio looks to end the...
I am happy to hold a long position and I think it is wisest to look for long trades. Two consecutive higher hourly closes above the all time high of $73054 could be a good entry signals
In contrast, the well-known hawk Klaas Knot mentioned June as the most likely meeting with another two cuts favoured in September and December but also opened the door to cuts before June if the data justifies the need for one. Closer to the center of the spectrum, Villeroy and Wunsch communicated a cautious approach ought to be adopted and the governing council...
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