Author: FX
Crude oil futures settled at $68.45, up $1.88 or 2.82% on the day. For the week, prices gained $2.13, marking a 3.2% increase. These gains come despite an unexpected rise in OPEC+ production of 548K barrels heading into the week. However, some support emerged midweek when OPEC+ floated the idea of pausing upcoming output hikes, signaling a more cautious stance.Running counter to the price action was a surprise build of 7 million barrels in U.S. crude inventories reported by the EIA. While that would normally be bearish, the report also showed drawdowns in gasoline and distillate stocks, providing a more…
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading and seek advice from an independent financial or tax advisor if you have any questions. Advisory warning: FOREXLIVE™ is not an investment advisor, FOREXLIVE™ provides references and…
Gold rebounds sharply from $3,322 as risk sentiment boosts safe-haven demand.Trump hits Canada with 35% tariffs, mulls 15–20% duties on others.Traders brace for US CPI and key Fedspeak ahead of July 19 blackout.Gold price rallies nearly 1% on Friday as the market mood shifts sour on controversial trade policies imposed by US President Donald Trump on Canada and threatening to broaden duties to other countries and Copper. At the time of writing, the XAU/USD trades at $3,354 after bouncing off daily lows of $3,322.On Thursday, Trump unveiled 35% tariffs on Canadian goods, though he maintains exemptions for products that adhere…
The US Dollar gains strength on Friday, lifted by US President Trump’s renewed tariff threats and fading expectations of near-term Fed interest rate cuts.Trump targets Canada with a 35% tariff, citing fentanyl concerns and trade imbalances.The DXY hovers below key resistance at 97.80–98.00, with price supported by the 9-day EMA at 97.50The US Dollar gains strength on Friday, supported by renewed tariff threats from US President Donald Trump, which have reignited global trade tensions and sparked a new wave of risk aversion. As tensions escalate, investors are becoming increasingly cautious, favoring the Greenback’s status as a safe haven. This shift…
EUR/GBP dailyMUFG is out with its trade of the week and highlights EUR/GBP, which is trading at 0.8650 at the moment.”We are recommending a long EUR/GBP trade idea to reflect our view that downside risks for the GBP are increasing. We have been encouraged by price action over the past week. EUR/GBP has held above the 0.8600-level for the longest period since late 2023/early 2024,” MUFG notes.”The GBP sell-off was initially triggered by concerns last week over the UK public finances. The looming prospect of tax hikes in the autumn could discourage businesses and households from spending in the interim…
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading and seek advice from an independent financial or tax advisor if you have any questions. Advisory warning: FOREXLIVE™ is not an investment advisor, FOREXLIVE™ provides references and…
Riot Platforms, Inc. (RIOT) – Elliott Wave analysis Daily chart analysis – Technical overview Function: Trend. Mode: Motive. Structure: Impulsive. Position: Wave v of 3. Direction: Bullish. Details: Wave v of 3 likely targets the 161.8% Fibonacci level of Wave 1. On the daily chart, Riot Platforms, Inc. (RIOT) maintains a strong upward trajectory, advancing within Wave v of 3. A breakout above the resistance trendline is expected, potentially signaling the continuation of an impulsive move. As Wave v of 3 is often the extended leg in Elliott Wave theory, a projected target near the 161.8% Fibonacci extension of Wave…
Stocks continue their consolidation as tariff news poses risks. The S&P 500 index gained 0.27% on Thursday, reaching a marginally higher all-time high of 6,290.22. The market is continuing its short-term consolidation. Today, it is set to open about 0.5% lower, as indicated by futures, in response to overnight news regarding a 35% tariff on Canada. Investor sentiment remains elevated, as reflected in the Wednesday’s AAII Investor Sentiment Survey, which reported that 41.4% of individual investors are bullish, while 35.6% are bearish. The S&P 500 continues to trade near its all-time high, as the daily chart shows. Nasdaq 100: More…
Silver reaches new 2025 high as tariff tensions lift safe-haven demand.Bullish momentum remains strong as the white metal rises toward the $38.00 resistance.XAG/USD benefits from its dual role as a safe-haven and industrial metal.Silver (XAG/USD) is trading at a fresh YTD high on Friday as tariff threats and market uncertainty drive demand for safe-haven assets.The Silver price is trading above $37.60 at the time of writing, as bulls appear eager to test the next psychological resistance level of $38.00.As the white metal continues along its upward trajectory, US President Donald Trump’s tariff policies and a weaker US Dollar have proven…
The USD remains mostly rangebound against the major currencies as it’s been supported by the last NFP report that caused traders to pare back their bets on a third rate cut by year-end. Unfortunately for the greenback, the data wasn’t enough as wage growth came out on the softer side which limited further repricing and more sustained gains. The focus now turns to the US CPI report due on Tuesday. The CPI is unlikely to force the Fed to cut at the July meeting. September is the earliest we could see it. Nonetheless, a soft CPI should see the market…