Author: FX
Gold (XAU/USD) daily chartIt has been a rather textbook rebound for gold, if you go by the technicals at least. The drop below the $2,000 mark last week was arrested by the 100-day moving average (red line) as buyers held their ground. Since then, we are seeing a modest push higher back to $2,020 now and it looks like it could extend for a bit more.Of course, much of it still depends on dollar sentiment and the mood in the bond market. However, at least the technical signs are encouraging in the short-term.That being said, the bigger picture looks to…
Monetary policy biases and inflation data are still likely to take center stage this week, as a couple of central banks will be printing meeting minutes. Other top-tier releases to keep tabs on include Canada’s CPI and Australia’s quarterly wage data, as well as a fresh batch of PMI figures. Here’s what to look out for in the upcoming reports and how markets might react. This Article Is For Premium Members Only Become a Premium member for full website access, plus get: Ad-free experience Daily actionable short-term strategies High-impact economic event trading guides Access to exclusive MarketMilk™ sections…
As the year 2024 begins and various investment trends emerge, the consequences of a potential shift in the monetary policy of the Federal Reserve are at the forefront of investors’ concerns as they seek to capitalize on a potential decrease in the Fed’s benchmark interest rates. Among the most closely monitored assets are precious metals such as Gold and Silver, as they could benefit from a decline in interest rates. For some, Silver could even outperform Gold in 2024 after lagging for several years. What factors should be considered in this analysis? Why might Silver outperform Gold in 2024, and…
Share: US Dollar Index extends its losses for the fourth successive session on Monday. The Greenback lost ground after Ex-fed James Bullard suggested the Fed to reducing rates in March. Improved PPI suggests that the Fed could avoid rate adjustment in the upcoming meeting. The US Dollar Index (DXY) continues its downward trend for the fourth consecutive session, slipping to around 104.20 during the Asian trading hours on Monday. However, the improved Producer Price Index (PPI) from the United States bolstered the US Dollar (USD), yet closed the session with losses. The market expects minimal movement in the…
bodnarchuk/iStock via Getty Images SSR Mining (NASDAQ:SSRM) said Sunday that Turkey’s government has revoked the Copler gold mine’s environmental permit, and the mine will remain suspended until further notice, after a landslide last week left nine workers missing. The company said several staff members are facing charges related to the incident, in which Turkey’s Interior Minister said had dislodged 10M cm of earth across a 200-meter slope. Tests of the surface water, groundwater and soil in the region by the Turkish Ministry of the Environment did not show any contamination in the area’s waters, the company said. SSR Mining (SSRM)…
© Reuters. A view of the logo of BYD on the BYD Seal at a press day of the Japan Mobility Show 2023 at Tokyo Big Sight in Tokyo, Japan October 25, 2023. REUTERS/Issei Kato/file photo BEIJING (Reuters) – Chinese electric vehicle giant BYD (SZ:) on Monday launched a new version of its plug-in hybrid sedan Qin Plus DM-i with a lower starting price, doubling down on price cuts to stay competitive in the world’s largest auto market. The new model goes for a starting price of 79,800 yuan ($11,090), down 20% from the previous version. The Qin Plus hybrid…
Can the BOC hold on to its relatively hawkish bias or should it shift to a more cautious one? Here’s what the upcoming Canadian CPI release might have to say about that. Read on to see what’s expected and how CAD pairs might react. This Article Is For Premium Members Only Become a Premium member for full website access, plus get: Ad-free experience Daily actionable short-term strategies High-impact economic event trading guides Access to exclusive MarketMilk™ sections Plus More! Source link
Our forex strategists mainly focused on the Kiwi, Sterling and U.S. dollar during another heavy week of economic catalysts. They started off strong with a great call on NZD/JPY, but as the markets got choppier it was tough to tell the effectiveness of the other two discussions…Check out our reviews to see how we did! If you’d like to follow our “Play of the Day” picks right when they are published throughout the week, you can subscribe to BabyPips Premium. On Tuesday, a weaker-than-expected inflation expectations print from New Zealand led to an initial selloff in the New Zealand dollar…
US markets are closed Monday, Februray 19,its the Presidents Day holiday. NYSE, Nasdaq and bond markets will all be closedCME futures hours:FX markets will be very limited. It’s a holiday in Canada also, for Family Day. This article was written by Eamonn Sheridan at www.forexlive.com. Source link
Share: The People’s Bank of China (PBOC), China’s central bank kept the one-year Medium-term Lending Facility (MLF) rate steady at 2.50% on Sunday. Injects 500 billion yuan vs. the 499 billion yuan in MLF maturing today.The MLF was last cut in August 2023, from 2.65%. Australian Dollar FAQs One of the most significant factors for the Australian Dollar (AUD) is the level of interest rates set by the Reserve Bank of Australia (RBA). Because Australia is a resource-rich country another key driver is the price of its biggest export, Iron Ore. The health of the Chinese economy, its largest trading…