Author: FX
GOLD PRICES OUTLOOK:Gold prices extend their rebound after encountering support at the lower limit of a medium-term ascending channelGold’s technical profile remains constructive, but the fundamental outlook is becoming less benignThis article looks at XAU/USD’s key levels to watch in the coming trading sessions Recommended by Diego Colman Get Your Free Gold Forecast Most Read: Gold Price Forecast – Dreams of Fresh Record Shattered for Now as Bears PounceGold prices extended their recovery on Tuesday, up about 0.1% to $1,963, rising for a second consecutive session after a sharp sell-off last Friday, but gains were limited as deep-pocket traders continued…
Bitcoin 10 minsBitcoin has nearly erased the rout from yesterday’s SEC charges against Binance and today’s suit against Coindesk.It’s an impressive turnaround after some troubling news, particularly accusations that Binance was wash trading.What’s happening here? Three theories:1) The crypto market was discounting actionIt’s no surprise that the SEC has changed its tune on crypto since the FTX fiasco and there have been plenty of hints this was coming. The selling of the rumour has happened over many months and now we’re seeing the ‘buy the fact’2) Not so bad for CoindeskI didn’t like what I heard about Binance but the…
Share: Gold’s rise was capped by US bond yields despite concerns for a gloomy economic outlook in the US sparked by weakness in business activity. The US Federal Reserve is expected to maintain interest rates unchanged at the June reunion, but recent central bank decisions worldwide suggest tightening monetary conditions loom. Technical analysis of XAU/USD suggests a potential inverse head-and-shoulders pattern, with a crucial resistance confluence of the 50 and 20-day EMAs to validate it. Gold price retreats after hitting a daily high of $1966.34 as US bond yields edge higher, a headwind for the yellow metal. Investors…
The U.S. dollar is trading at a key area of confluence in what is a quiet trading week ahead of the FOMC and US CPI. Source link
TScan gains as FDA clears studies for T cell therapy candidate Source link
This continues from the story earlier here as China is doubling down on banks, this time wanting to encourage more flows into the yuan currency instead.The Chinese self-regulatory body overseen by the central bank has reportedly asked major state-owned banks to lower their dollar deposit interest rates, with the cap now being at 4.3% (previously 5.3%) for dollar deposits of $50,000 and above.This is largely to try and encourage Chinese firms, particularly exporters, to settle their FX receipts in the yuan – after the currency has fallen considerably over the past few weeks against the dollar. Source link
Share: USD/CHF has shown a solid recovery from below 0.9040 following the footprints of the USD Index. The appeal for the USD Index has improved amid the risk-off market mood. USD/CHF is marching towards the downward-sloping trendline of the Descending Triangle pattern plotted from 0.9148. The USD/CHF pair has paused for a while after a solid recovery from below 0.9040 in the European session. The Swiss Franc asset is expected to extend its recovery move above the immediate resistance of 0.9070. The major is following the footprints of the US Dollar Index (DXY) which has refreshed its day’s high…
GOLD OUTLOOK & ANALYSISISM services data boosts gold prices ahead of quiet week.Ascending triangle in focus. Recommended by Warren Venketas Get Your Free Gold Forecast XAU/USD FUNDAMENTAL FORECASTGold prices remain steady this Tuesday morning after yesterday’s rally on the back of the US ISM non-manufacturing PMI miss that reached fresh yearly lows – approaching contractionary territory. The US being a principally services funded economy meant the print brought significant downside for the US dollar and consequently upside for bullion.The resultant impact on Fed funds futures (refer to table below) was a dovish repricing of interest rate expectations with a 75%…
So the Reserve Bank of Australia (RBA) raised its interest rates. While Governor Lowe and his team recognized that inflation has passed its peak, they felt that 7% is still too high. They raised RBA’s interest rates by another 25 basis points to 4.10% and repeated that “Some further tightening of monetary policy may be required” to help return inflation to RBA’s targets.” Since there were at least many traders priced in that the RBA would hold its rates steady, the “surprise” rate hike sent AUD higher against its counterparts. AUD/CHF, in particular, jumped from its ranges near the .6000…
Argo Blockchain GAAP EPS of -$0.02 misses by $0.01, revenue of $11.44M beats by $0.37M Source link