The USD/JPY pair is experiencing a lack of clear direction on Wednesday and is trading within a narrow range. The subdued performance of the US dollar is holding back the pair, while a positive risk sentiment is providing some support. Traders seem hesitant and are waiting for the highly-anticipated FOMC decision. The USD/JPY pair is struggling to build on the...
WTI is set to end its second week in negative territory and trades close to levels seen earlier this month. The decline in crude prices can be attributed to Russia's recent output and export cuts announcement, as well as a decrease in demand for oil in the US, evident from the accumulation of inventory over the past week. However, renewed optimism surrounding...
What to Expect for EUR Today: German ZEW Economic Sentiment and ECB President Lagarde's Speech Today, the EUR may face downward pressure as the German ZEW Economic Sentiment is predicted to drop from 28.1 to 14.9. This could lead to reduced foreign investment and a weaker euro. Regarding the central bank's notes, the ECB raised interest rates by 50 basis points to...
Bitcoin's price has recently surged by 14% after breaking out from a six-month consolidation range. This occurred simultaneously with the rise of two momentum indicators. The banking crisis that triggered a surge in cryptocurrency liquidity, leading to a surge in most cryptocurrencies' prices, has prompted this recent breakout. Currently, the flagship crypto is in...
On the daily chart of the S&P 500, the Federal Funds futures indicate a probability of nearly 60% for a 50 basis point rate hike. Today's release of U.S. employment data may either reinforce the possibility of a 50 bps rate hike or tilt the balance towards a smaller increase of 25 bps. Experts predict that the U.S. economy will see the addition of around 200,000...
On Thursday, the trading activity appeared to be subdued following the release of several favorable economic indicators. However, a slight uptick in weekly unemployment claims in the United States exceeding 200,000 for the first time since January prompted the short-term returns to plummet, resulting in concerns among investors. This has consequently led to...
Danske Bank economists maintain their strategic case for a lower EUR/USD, predicting the pair to reach 1.02 in the next six-to-twelve months. They argue that this will be driven by tighter financial conditions, relative rates, and asset demand, along with new energy and real rate shocks. In this article, we will explore Danske Bank's reasoning for this forecast...
Gold is one of the most popular investments globally, particularly during times of economic and political instability. As a precious metal, its value is widely recognized and it is considered a safe-haven asset. Gold prices are affected by a range of factors, including economic and political events, market trends, and demand and supply dynamics. In this article,...
Introduction The USD/CAD currency pair is a popular currency pair traded in the forex market. The pair represents the US dollar against the Canadian dollar, with fluctuations in exchange rates being influenced by a range of factors including global economic trends, political events, and interest rates. This article discusses the recent reversal of early losses by...
AUD/USD Takes a Leg Higher in Early Asian Trading: A Look at the Factors Driving Risk Appetite In early Asian trading, AUD/USD saw a surge in risk proximity, hitting the 0.6730 mark before retracing and trading unchanged. This movement was accompanied by a broader expansion of risk appetite, particularly in high beta currencies, thanks to coordinated efforts from...
Introduction It may seem like an eternity since Ethereum hit its all-time high of $4,644.33, but that was only a year and a half ago. Since then, a fierce crypto-winter has hit the industry, and the whole picture has changed dramatically. In the midst of this bear market, Ethereum lost over 75% of its value in an instant. Despite such a sharp pullback, there are...
Elon Musk, the audacious CEO of various renowned companies, including Tesla and SpaceX, is known for his entrepreneurial tenacity and appetite for the spotlight. His electric vehicle (EV) firm, Tesla, is perhaps his most notable brand, and his recent investor conference was highly anticipated by investors and Wall Street alike. Nevertheless, the event appeared to...
Microsoft's business appears to be slowing down, with the company's stock declining since the beginning of 2022 due to sales growth reaching its limit. Furthermore, large parts of the company's business, including the PC and video game segments, are shrinking, and the outlook for corporate technology spending in 2023 isn't looking good. Despite these major...
Hello there! If you're a fan of blockchain-based tokens and are considering investing in cryptocurrencies, you might want to consider purchasing the "progenitor" of cryptocurrencies, Bitcoin. Although cryptocurrencies are generally known for their volatility, investing in an expensive token like Bitcoin can somewhat reduce that volatility compared to low-cost...
According to the Markets Strategist Quek Ser Leang and Senior FX Strategist Peter Chia from UOB Group, there is a possibility of a further decline in the EUR/USD exchange rate in the near future. In their recent analysis, they highlighted that the EUR could weaken further but a clear break of 1.0500 is unlikely. Although the EUR traded mostly sideways with a brief...
Walt Disney's Stock: A Look at its Recent Challenges and Future Prospects under New CEO Bob Iger With a market capitalization of around $170 billion, Walt Disney is one of the largest entertainment companies globally. However, with its stock price down over 30 percent from last year, investors may be questioning the value of the company's stock. After Bob Iger's...
According to a report by the Telegraph, the Bank of England has been engaged in emergency talks with international counterparts as concerns continue to escalate over the deteriorating situation at Swiss bank, Credit Suisse Group AG (CSGN.S). The bank has been experiencing significant financial struggles in recent times, leading to uncertainty and instability in...
After pulling back to the 61.8% FIBO level and encountering dynamic resistance, GBP/USD experienced a bullish impulse yesterday that brought the price up to 1.2150. Today, there is potential for the price to continue rallying in the direction of the main trend with a new short impulse. However, we are anticipating a bearish continuation.