Author: FX

Gold touches all-time high of $2,954 amid trade policy uncertainty. Trump expands tariffs to lumber and soft commodities, adding market jitters. US data mixed: Manufacturing PMI improves, but Services PMI contracts. Gold price slides late on Friday, poised to end the week positively, accumulating eight straight weeks of gains that pushed the yellow metal to all-time highs of $2,954. At the time of writing, the XAU/USD trades at $2,940, down 0.15%. The financial markets’ narrative has not changed as US President Donald Trump continues with rhetoric related to tariffs. In addition to imposing 25% tariffs on cars, pharmaceuticals and chips,…

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Silver retreats to $32.54 after failing to hold above key $33.00 level. RSI signals mixed momentum, with downside risks if $32.00 support breaks. Next resistance at $33.20, while key support lies at 100-day SMA near $31.12. Silver’s price retreats on Friday and fails to capitalize on falling US yields. According to the 10-year T-note, yields tumbled almost eight basis points to 4.431% at the time of writing. The XAG/USD trades at $32.54, down 1.20%. XAG/USD Price Forecast: Technical outlook XAG/USD’s uptrend remains in place, but failure to end the day/week above $33.00 exacerbated Silver’s plunge. Bullish momentum has faded, as…

AUD/JPY extends its decline, falling sharply and breaking below the 20-day SMA. RSI remains in negative territory, reflecting intensifying bearish momentum. MACD histogram prints rising red bars, signaling increasing downside pressure. The AUD/JPY cross continued its downward trajectory on Friday to around 94.80, posting sharp losses and breaking through key technical support levels. The pair now trades at its lowest level in over two weeks, signaling that bears have taken firm control. The sustained drop below the 20-day Simple Moving Average (SMA) highlights the shift in market sentiment, with sellers dominating the current trend. Technical indicators reinforce the negative outlook.…

It was a tough day in the market but that’s nothing compared to what crypto exchange Bybit faced today.The company confirmed that a wallet it was holding was drained of the equivalent of $1.5 billion in ethereum. It may be the largest theft of any kind, ever, at least in nominal terms.”Bybit is Solvent even if this hack loss is not recovered, all of clients assets are 1 to 1 backed, we can cover the loss,” wrote CEO Ben Zhou on twitter.In a livestream, he said they were getting a bridge loan and I worry there will be a run…

The major US indices are closing sharply lower with the NASDAQ index down -2.20% and the Russell 2000 index down close to 3%.The final numbers are showing:Dow industrial average -748.63 points or -1.69% at 43428.02. For the trading week, the Dow fell -2.51% – the weakest since October 2024.S&P index fell -104.39 points or -1.71% at 6013.13.. For the trading week the index fell -1.66%. It’s worse trading week since January 6.NASDAQ index fell -438.36 points or -2.20% at 19524.01. For the trading week, the index fell -2.51%. It worst trading week since November 11Russell 2000 fell -66.39 points or…

Aussie stalls near 0.6400 despite earlier gains. Post-PMI sentiment dims risk appetite and benefits the USD. RBA’s measured stance limits deeper easing bets and might limit the downside. The AUD/USD pair faces offers pressure near 0.6400 after the release of the United States (US) S&P Global PMI data for February. Although traders deem President Donald Trump’s tariff agenda less disruptive than initially feared, the Reserve Bank of Australia’s (RBA) cautious interest rate cut stance also curbs the Aussie’s attempt to extend its recent upswing. Daily digest market movers: Aussie deflates as US PMI disappoints The US Manufacturing PMI came in…

The US Dollar Index holds above 106.50 following weak US PMI data. US service sector contracts unexpectedly in February, weighing on sentiment. Consumer sentiment drops, while inflation expectations rise, adding pressure to USD. The US Dollar Index (DXY), which tracks the US Dollar’s performance against six major currencies, is holding on to minor gains on Friday, trading around 106.50. This slight recovery follows disappointing preliminary PMI data, signaling that the US economy is no longer significantly outpacing the Eurozone or other major economic blocks. A weaker services sector print weighed on market sentiment, though manufacturing gains provided some balance. Daily…

New US House task force focused on the Fed sets first meeting Source link

Mexico’s Q4 GDP contracts for the first time since 2021. Banxico slashes 2025 growth outlook to 0.6%, well below Finance Ministry projections. US data mixed: Manufacturing PMI improves but Services PMI falls into contraction. The Mexican Peso (MXN) lost some ground against the US Dollar (USD) on Friday as the Mexican economy decelerated in the last quarter of 2024. This indicates that the outlook is not as promising as expected amid an environment of uncertainty linked to United States (US) President Donald Trump’s trade policies. USD/MXN trades at 20.41, registering gains of 0.54%. Mexico’s economy contracted in Q4 2024 for…