Author: FX
Consolidation has been the name of the game for most asset classes lately, but can gold still go for one more breakout before the year ends? And which way might it go? Here’s what I’m watching on the 4-hour time frame. Gold (XAU/USD) 4-hour Chart by TV Risk-on flows and anti-dollar sentiment propped gold prices higher during the latter half of December. However, thin liquidity in the past week kept big moves in check. The precious metal has formed higher lows and slightly higher highs to consolidate inside a rising wedge pattern visible on its 4-hour chart. A breakout seems…
© Reuters. Daihatsu Motor Co.’s Mira e:S (front) and other Daihatsu cars are displayed at the company’s dealership in Tokyo November 11, 2014. REUTERS/Yuya Shino/Files TOKYO (Reuters) – Toyota Motor (NYSE:)’s small-car unit Daihatsu Motor said on Thursday it would compensate lower-tier contractors in its supply chain to cushion the blow from an indefinite production stoppage after revelations last week of a wider safety scandal. Daihatsu, which had already announced plans to compensate 423 direct suppliers, has said it would keep production halted in Japan at least until the end of January while authorities investigate it for safety-inspection irregularities. Production…
Share: Gold price trades in positive territory for the fifth straight day on Thursday. The decline in the Federal Reserve’s preferred gauge of inflation triggered the bets on early rate cuts by the Fed. China intends to enhance domestic demand to expedite economic recovery and promote stable growth. Gold price (XAU/USD) gains traction above a record close of $2,070 during the early Asian session on Thursday. The upward momentum of yellow metal is bolstered by the softer US Dollar (USD) across the board. Gold price currently trades near $2,080, gaining 0.09% on the day.Meanwhile, the US Dollar Index…
Bank of Japan Governor Kazuo Ueda comments was reported with Japanese media, public broadcaster NHK, on Wednesday.His remarks didn’t contain any surprises:said he was in no hurry to unwind ultra-loose monetary policycited the risk of inflation running well above 2% and accelerating was only smallUeda is looking forward to the Bank’s regional branch managers’ meeting in the middle of next month, saying it would deliver “quite a lot of information”. On the prospect of a policy shift at the January 22 – 23 meeting:”For now, I don’t think the chance of this happening is large” More:desirable for wages to rise…
In the dynamic world of trading, having the right tools at your disposal can make all the difference between success and failure. One such tool that has gained significant attention in recent years is the Murrey Math MT5 Indicator. This technical analysis tool offers traders valuable insights into market trends and price movements, making it an indispensable asset in their trading arsenal. Understanding Murrey Math Before delving into the intricacies of the Murrey Math MT5 Indicator, let’s start with the basics. Created by T. Henning Murrey, this indicator is designed to analyze and predict price movements in financial markets. It’s…
EUR/USD, GBP/USD, GOLD PRICE FORECAST:Treasury yields and the U.S. dollar tumble as interest rate expectations shift in a more dovish directionEUR/USD and GBP/USD rally, clearing important technical levels in the processGold prices break above a major resistance region, setting the stage for additional gains in the near term Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter Most Read: US Dollar on Cusp of Breaking Down, Key Levels to Watch in Final Days of 2023U.S. Treasury rates have fallen sharply from their cycle highs set in October…
SQM (NYSE:SQM) rose about 7% after the closing bell on Wednesday as the Chilean miner announced a memorandum of understanding with the National Copper Corporation of Chile (Codelco) for the operation and development of the Salar de Atacama during the period from 2025 to 2060. With the partnership, the parties aim to produce high-quality lithium products in the Salar de Atacama by way of establishing a new operating company. The MoU highlights the entry of Codelco at the beginning of 2025 into the ownership of the new company, which would be producing lithium carbonate and lithium hydroxide on the properties…
Viveon Health Acquisition receives NYSE American notice for delisting Source link
© Reuters. Why Novocure stock is up today? NovoCure (NASDAQ:) experienced a notable increase in its stock price, jumping up around 13% intra-day today, marking its highest point since Oct 19. This boost is attributed to Novocure’s confirmation of its attendance at the upcoming JPMorgan healthcare investor conference next month. William Doyle, the Executive Chairman of Novocure, is scheduled to present on behalf of the company on Jan 10. Earlier this month, Piper Sandler highlighted Novocure as one of the companies expected to share insights into their fourth-quarter performance at this annual health event. This expectation stems from Novocure’s history…
US DOLLAR FORECASTThe U.S. dollar, as measured by the DXY index, sinks to its lowest level in five months, with thin liquidity conditions likely amplifying the selloffGrowing expectations that the Fed will substantially ease its stance in 2024 have been the main driver of the greenback’s retreat in recent weeksThis article offers an analysis of the U.S. dollar’s technical and fundamental outlook, examining essential price thresholds that could act as support or resistance in the coming trading sessions Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter…