Author: FX
XAG/USD slips to $31.13, with downside risks growing Silver fails to hold above $33.00, triggering consolidation and selling pressure. Price tests 100-day SMA at $31.20; next key support at 50-day SMA of $30.89. Break below $30.89 could expose 200-day SMA at $30.47 and January low of $29.70. Silver ended the week on a lower note, down almost 4%, as traders booked profits amid US recession jitters following the release of crucial US data. At the time of writing, the XAG/USD trades at $31.13, down 0.32%. XAG/USD Price Forecast: Technical outlook The grey metal had shown signs of consolidation after failing…
USD/JPY needs to clear 150.93 to invalidate the broader downtrend. Key resistance at 151.00 and Senkou Span A at 151.50. Failure to hold 150.00 could push the pair toward 148.57 support. The USD/JPY rallied for the third straight day after bottoming near 148.60 on Tuesday. It gained over 0.54% and traded back above the 150.00 handle. At the time of writing, the pair is trading at 150.59. USD/JPY Price Forecast: Technical outlook The USD/JPY pair’s downtrend will remain in place unless buyers reclaim 150.93, the February 7 daily low that turned resistance. The Tenkan-sen at 150.44 was already reclaimed, but…
Somnigroup International files to sell 34.2M shares of common stock for holders Source link
Taking its cue from the book “It can’t get any worse?”, the US stock market is closing higher despite the Trump vs Zelenskiy brouhaha in the Oval Office. Despite the rebound, the broader S&P and Nasdaq indices are closing lower for the 2nd consecutive week. The final nmbers for the day are showing:Dow industrial average closed up 600.49 points or 1.39% at 43839.99.S&P closed up 92.82 points or 1.58% at 5954.39Nasdaq closed up 302.86. or 1.63 percent at 18847.28Russell 2000 closed up 23.40 points or 1.09% at 2163.06For the trading week:Dow industrial average closed up 0.95%S&P index closed lower by…
Markets:Gold down $23 to $2852US 10-year yields down 7.7 bps to 4.21%WTI crude oil down 36-cents to $70.00S&P 500 up 1.2%USD leads, NZD lagsEvery day is an adventure so far in 2025.This one had it all. We started out with some economic data that highlighted a benign inflation environment as the PCE report was very close to estimates. All eyes were there but at the same time the January trade balance numbers were released and saw a huge influx of imports.That really shouldn’t have been a surprise given tariff threats and the potential to front-run them but it wasn’t in…
Gold drops over 1% Friday as USD strengthens, hitting 10-day high at 107.66. XAU/USD falls to $2,845 as Fed rate-cut bets rise Trump confirms 25% tariffs on Mexico and Canada, fueling market uncertainty. Fed expected to cut rates by 70 bps in 2025 with first cut projected for June. Gold extended its losses on Friday, down more than 1% and over 3% in the week. The US Dollar rose to a ten-day peak of 107.66 amid fears of trade policies in the United States (US) and data that has sparked recessionary worries. The XAU/USD trades at $2,845 after reaching a…
The Aussie extends its losing streak by about 0.54%, slipping near 0.6200 and approaching multi-week lows. A six-day decline sees the pair break below the 20-day Simple Moving Average, reinforcing short-term seller strength. Traders assess fresh tariff escalations, with President Trump threatening an extra 10% levy on Chinese imports. PCE data from the US from January met expectations. The AUD/USD pair posts a fresh three-week low near 0.6200 in Friday’s trading session after extending its losing streak for the sixth straight day. The Aussie was already under downward pressure throughout the week but faced an extra blow following United States…
Food delivery company Grubhub to cut 500 jobs Source link
Scott BessentIt’s getting easier to connect the dots on the North American trade fight. Trump has scheduled 25% tariffs on Canada and Mexico for Tuesday at midnight but the market doesn’t really think it’s going to happen. The Trump admin has repeatedly said it’s about fentanyl but that’s obviously a canard.The question has always been: What does the US really want? Trump himself has hinted many times it was about trade deficits but that’s a tough problem to solve. I expect him to continue to push for reopening USMCA sooner but that might not be the big ‘ask’.Earlier, a Bloomberg…
Stocks advanced on Friday morning on in-line PCE inflation data. Trump-Zelenskyy peace meeting goes awry after VP calls Ukrainian President “disrespectful”. Surveys show that investors are unusually bearish at the end of February. Dow Jones index trades below the 100-day moving average. The last day of February was unusually volatile as traders sought to digest multiple headlines as the session progressed. Major stock market indices advanced at first on Friday after the Federal Reserve’s (Fed) favorite inflation report came in line with expectations for the January period. Previously, there had been worries that the Personal Consumption Expenditures (PCE) report…