Author: FX
Share: GBP/USD declined toward 1.2100 during the European trading hours but regained its traction amid renewed US Dollar (USD) weakness. The pair seems to have stabilized at around 1.2150 in the American session and remains on track to end the week in positive territory. Read More… The GBP/USD pair builds on the previous day’s strong move up and scales higher for the second successive day on Friday. The pair, however, retreats a few pips from the daily peak touched during the early part of the European session and is currently placed around the 1.2135-1.2130 region, still up over…
Share: Financial turmoil weighs on investors’ mood and drags black gold lower. WTI bounced modestly after posting a fresh 2023 low of $65.22 a barrel. The barrel of West Texas Intermediate fell to $65.22 on Friday, its lowest since November 2022. It currently trades at around $67.30 a barrel, breaking lower amid financial turmoil weighing on the market mood. The banking crisis triggered by Silicon Valley Bank (SVB) and Signature Bank last week escalated, with Credit Suisse under siege after its top shareholder ruled out providing financial assistance to the company. Stock markets collapsed despite authorities’ efforts to…
USDJPY falls toward low from yesterdayThe USDJPY buyers had a shot late yesterday and early today, when the price briefly moved above its 100 hour moving average and swing area between 133.505 and 133.652. The high price reached 133.82 and 133.78 at respective highs, but momentum could not be sustained. In the early Asian session, the price stalled right near the 100 hour moving average and moved lower. Buyers turned to sellers.The subsequent move to the downside has seen the price retrace nearly all the gains from yesterday. The low price yesterday reached 131.709. The low price just got within…
Nerves remain frazzled into the weekend amid worries over a full-scale banking crisis. In spite of the actions by central banks and other regulators to try to ringfence the problems that helped take down SVB, Signature Bank, and that weigh on First Republic and Credit Suisse, investor confidence has been severely shaken, leaving the very fragile conditions and everyone is wondering; Is there another banking shoe to drop? The pop in interest rates that exposed problems is not going away. A flight to safety is picking up again with yields falling and that is likely…
GOLD PRICE OUTLOOK:Gold prices rally as bond yields take a turn to the downsideU.S. banking sector turmoil weighs on sentiment, boosting appetite for defensive assetsThis article looks at key XAU/USD technical levels to watch in the coming days Recommended by Diego Colman Get Your Free Gold Forecast Most Read: Gold Price Holds the High Ground Amid Banking Turmoil. Where to for XAU/USD?After a modest pullback on Thursday, gold prices (XAUUSD) resumed their advance on Friday, rallying more than 2% to ~$1,965 and heading for their best week since November of last year, boosted by falling U.S. Treasury yields and stronger…
Share: Gold price regains strong positive traction on Friday and rallies to its highest level since February. Fears of a global banking crisis weigh on investors’ sentiment and lift the safe-haven XAU/USD. Bets for a less hawkish Fed, tumbling US bond yields, a weaker USD provide an additional boost. Gold price catches fresh bids following the previous day’s directionless price action and builds on its intraday positive move through the early North American session. The XAU/USD spikes to a fresh six-week high, around the $1,946 region, in the last hour and remains on track to register its biggest…
South African Rand Dollar Forecast:USD/ZAR pauses at historical resistance – systemic risks remain high with FOMC on tap.US Dollar recovers against the Rand despite a potential banking crisis.South African Rand faces additional pressure as concerns over Monday’s national shutdown mount. Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter USD/ZAR recover as rate expectations and fears of a banking crisis drive sentimentIt’s been a challenging week for global markets and for USD/ZAR which is currently trading around a key level of resistance at 18.385.As doubts over the…
I’m sure a lot of us are very passionate about forex trading, but you have to know that there’s a fine line separating this from addiction. You see, it’s hard to tell the two apart because both passionate and addicted traders can perform well. What differentiates them is that passionate traders are able to sustain their success without sacrificing other aspects of their lives. Those who are simply addicted to trading undergo extreme highs and lows that take a mental and emotional toll. Because of the obsession with the markets and fear of failure, a trading addiction can wear out…
EUR/USD Price, Chart, and AnalysisECB hawks are out in force following yesterday’s interest rate hikeEuro Area inflation remains elevated and sticky. Recommended by Nick Cawley How to Trade EUR/USD Most Read: ECB Delivers 50bps Hike Despite Banking Sector Woes, EURUSD IndecisiveThe European Central Bank (ECB) hiked interest rates by 50 basis points yesterday and further rate increases can be expected according to policy maker commentary out earlier today.ECB Villeroy de Galhau – We decided to do what we said we would do rates. (Our) Priority is to fight inflation.ECB Kazimir – Need to continue with rate hikes but no need…
Diebold Nixdorf stock plunges on liquidity concerns Source link