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Gold prices took a hit on Monday’s open after investors and traders started to move away from the safe-haven asset and into more riskier assets. This comes after the news about First Citizens BancShares Inc would take on the deposits and loans of failed Silicon Valley Bank which gives an overall sentiment of confidence to the markets that this “bad chapter” in...

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Crude oil prices are currently in a phase of strong bullish momentum build up after a strong move on Monday mostly due to some exports from Iraq's Kurdistan region being on halt. Prices were boosted as Turkey stopped pumping crude from Kurdistan, amounting to 450,000 barrels per day or 0.5% of the global oil supply, following a decision that confirmed Baghdad's...

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This would likely be a busy week for the Euro with economic data being released from Germany and European inflation and unemployment rates. On Thursday, German inflation figures for March will kickstart the investors interest ahead of a busy Friday session. After an aggressive bullish rally for the Euro against the Dollar in the last quarter of 2022 until early...

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Even Though this would be a quiet week for the British pound with no economic indicators for the investors to consider, the daily chart possesses some interesting facts on the daily chart which will be analyzed below. Last week the British inflation rate came in hotter than expected at 10.4% with the consensus at 9.9% while the Bank of England raised interest...

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XAUUSD Markets are After FOMC's decision on interest rates and the speech of Jerome Powell, the US dollar has been under pressure, while Gold and Bitcoin are moving in uptrends. Gold particularly benefits from the banking turmoil, hitting $2000. The US dollar was pushed down after the FOMC decision: even though Jerome Powell was not specifically dovish in his...

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On Sunday 19th of March, UBS agreed to buy Credit Suisse for $3.23 billion in a deal backed by a massive Swiss guarantee of around SFr9 billions but only after UBS has borne the first SFr5 billion of losses on a certain portfolio of assets. Even after this event gold prices kept rising reaching the highest level since mid April of last year. Investors and...

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Crude oil prices are showing signs of correction in the last 3 sessions after signals that central banks are stepping in to help troubled lenders in the U.S. and Europe. Speculators had been building their long position in the oil market on the back of expectations that there will be an increased demand recovery from China following the reversal of its...

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On Sunday, UBS agreed to buy Credit Suisse for $3.23 billion in a deal backed by a massive Swiss guarantee of around SFr9 billions but only after UBS has borne the first SFr5 billion of losses on certain portfolio of assets. Even after this event gold prices kept rising reaching the highest level since mid April of last year. Investors and traders don’t seem...

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USOIL, daily Crude oil prices are still in free fall even after signals that central banks are stepping in to help troubled lenders in the U.S. and Europe. Speculators had been building their long position in the oil market on the back of expectations that there will be an increased demand recovery from China following the reversal of its zero-covid policy,...

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In a historic deal that shocked the financial world, UBS Group AG announced on Sunday that it has agreed to buy Credit Suisse Group AG for 3 billion Swiss francs ($3.24 billion USD), creating a banking behemoth that would rival some of the largest global players. The deal was brokered by the Swiss authorities, who intervened to prevent a collapse of Credit Suisse...

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Bitcoin displayed a substantial strength recently driven by fear of surrounding a banking crisis and the collapse of several banks in the US, along with a situation with Credit Suisse. BTCUSD has gained as much as +25% in the week, rising to almost $25000 from 20000. Such a bullish rally usually has a high chance of continuation, at least in the short-term...

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The British pound had developed a sharp momentum vs the US Dollar recently, amid a banking crisis in the US and the situation around Silicon Valley Bank. After that, the greenback had regained some strength against European currencies, as the banking crisis started to spread to Europe too with a spectacular drop of shares of Credit Suisse bank and surrounding...

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EURGBP has been more consistently negative than EURUSD over the last few weeks for a number of reasons. The most important of these this week are significantly strong British job data than expected and the troubles plaguing Credit Suisse. Claimant count change for January was unexpectedly revised down to negative 30,300 on Tuesday while the rate of unemployment in...

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The Nasdaq Index seems relatively unhampered by the sluggish news coming from the banking sector. Also, yearly CPI data came as expected, and core CPI rose by 0.5% above January. The index has stood its ground and is up by 1.84%. After the CPI data, there is an approximate 88% likelihood of the Fed hiking interest rates by a quarter-point in the next week's...

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Shares in the banking sector have taken a hit amidst Silicon and Signature banking fiasco. In an attempt to recoup investors' confidence, the treasury secretary has ruled out any bailout plans. The fed chairman has also ensured that depositors would have access to their funds. Despite all the efforts, the market seems skeptical, and the regional banking crisis is...

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Silicon Valley Bank (SVB), Signature Bank (SBNY), and Silvergate Bank (SI) had been providing banking services to many crypto companies and investors, especially after many traditional banks shunned them due to regulatory uncertainty and compliance issues. According to CNBC, SVB collapsed on Friday after depositors withdrew more than $42 billion following the...

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Gold has been traditionally considered a safe haven asset in times of uncertainty and this is what is currently happening on the market following the failure of three banks last week. After recent events of banks stopping their operations the price of gold made gains as its an attractive addition to investor’s portfolios because of its relative “stability” to...

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Crude oil prices took a hit on Monday the 13th as fears of a new financial crisis hit following the recent data of the Silicon Valley Bank(SVB) collapse. This is not the only bank that failed since Silvergate announced plans to wind down operations and voluntarily liquidate as well as state regulators closed New York-based Signature Bank(SBNY.O) on Sunday. U.S....