Author: FX
Tesla not allowed to test or transport the public, paid or unpaid, in an autonomous vehicle with or without a driver…Shares dip to $312.70. High reached $323.63 today. The price is still above the lower for the day at $308 and still higher on the day, but price is dipping. Taking a look at the hourly chart, the price has been consolidating and displays a classic symmetrical triangle pattern, which is characterized by converging trendlines connecting lower highs and higher lows. This typically signals a period of consolidation before a potential breakout.The price has just moved back below the 200…
Crude oil futures settled at $65.16, down $0.87 on the day.Earlier this week, the price briefly broke below the falling 100-day moving average (blue line on the chart), but each time, downside momentum faded and daily closes returned above that level—indicating a lack of sustained bearish conviction.Heading into the new trading week, sellers would need to push and hold the price below the 100-day moving average to increase the bearish bias. A break below the swing area low at $63.61 would further bolster downside momentum and seller confidence.On the topside, resistance is seen at $66.96, followed by the 200-day moving…
Gold pressured by robust US labor data and progress on US–EU trade deal.US Dollar rebound and trade optimism curb safe-haven demand, sending XAU/USD to $3,325 low.Traders eye Fed decision, US Q2 GDP, Core PCE, and NFP data in coming week.Gold price (XAU/USD) is poised to end the week on a lower note as economic data from the United States (US) and progress in trade deals with the latter weighed on safe-haven demand, driving the yellow metal lower. Additionally, the Greenback recovered some ground despite falling US Treasury yields. At the time of writing, the XAU/USD trades at $3,336, down almost…
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NZD extends losses for the second day on Friday but remains on track for a weekly gain.US President Donald Trump signals “most trade deals are finished,” with talks nearing conclusion with China.US Treasury Secretary Bessent confirms tariff talks with China to resume next week in Stockholm.The New Zealand Dollar (NZD) extends losses for a second consecutive session on Friday but remains poised for a weekly gain, supported by improved risk sentiment amid growing optimism over potential US trade deals. A mid-week bounce in the Greenback, underpinned by strong US economic data and firm expectations that the Federal Reserve (Fed) will…
West Texas Intermediate declines as Venezuela and OPEC+ increase concerns about oversupply.Clarity on US–EU and US–China trade talks may guide the direction of WTI.WTI Crude Oil drops below $65.00 as technical pressure aligns with rising supply outlook.West Texas Intermediate (WTI) is under pressure on Friday as markets respond to a growing global supply outlook and remain cautious on demand prospects.At the time of writing, WTI is trading below $65.00, with daily losses exceeding 1.50%.The market is reacting to the prospect that Venezuela could resume Oil exports, following the US decision to reinstate Chevron’s license to operate in the country. The move…
Oil rig count -7 at 415Gas +5 at 122Total rig -2 at 542The price of crude oil is trading down $-0.61 at $65.42.For the trading week, the price tested its 100-day moving average, currently at $64.91. The low price for the week $64.76 on Wednesday, but it could not sustain momentum below that moving average.For the trading week, the price is a down $-0.63 or -0.96% at current market levels. This article was written by Greg Michalowski at investinglive.com. Source link
The Canadian Dollar fell even further against the Greenback on Friday.Trump has pivoted back to tariff threats on Canada as trade deals remain limited.The tariff deadline of August 1 is fast-approaching, and Canada has shown little movement thus far.The Canadian Dollar (CAD) took another hit on Friday, extending into a two-day backslide against the US Dollar (USD) as Loonie traders hunker down for a fresh bout of tariff-fueled tirades from United States (US) President Donald Trump. The Trump administration’s self-imposed deadline of August 1 for steep “reciprocal” tariffs, which have been announced, delayed, and then delayed again, is approaching quickly.…
The USDCHF started the week strong, with Monday’s high stalling near a key swing area between 0.8017 and 0.8023. However, after breaking below the 200-hour moving average (Green line on the chart above) later that day, the pair remained under that level for the rest of the week. That MA, currently at 0.79836, remains a critical topside resistance heading into the weekend (and into the new trading week). It would take a move above the 200 hour moving average and staying above to increase the bullish bias at least in the short term.Midweek, sellers made a push lower, with Wednesday…
Since US President Trump’s reciprocal tariffs address on April 2, the EUR is the second best performing G10 currency after the safe-haven CHF, Rabobank’s FX analyst Jane Foley reports. EUR holds ground amid tariff turmoil”The EUR’s resilience has stemmed from the optimism triggered by the relaxation in Germany’s debt brake in March and by the broad-based assumption that this was a game changing event for the region. The EUR was boosted further by the rotation out of US assets triggered by fears that Trump’s tariffs could push the US into recession and trigger a spike in inflation.””The rotation trade has…