Author: FX
The Euro (EUR) is little changed against the US Dollar (USD) on Friday, holding around the mid-point of Wednesday’s wide range, Scotiabank’s Chief FX Strategist Shaun Osborne notes. Charts show tentatively positive signals”ECB Governor Nagel commented a little earlier that the central bank should not rush rate cuts, echoing Holzmann’s remark earlier this week. Nagel said that inflation was still elevated and uncertainty was high. Eurozone CPI was finalized at 2.4% in the December year earlier, in line with the preliminary data.” “Spot has swung in a 50/60 tick range around 1.03 for much of the week. Short-term patterns suggest…
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…
Euro strengthens, trades above 200-day SMA at 0.8425, signaling bullish momentum against Pound. Bulls target January 15 high at 0.8463; breaking this could extend to 0.8500 and higher. If EUR/GBP falls below 200-day SMA, may drop to 0.8400, with support at January 14 low of 0.8383. The Euro extended its gains versus the Pound Sterling on Friday, posting back-to-back bullish bars and climbing above the crucial 200-day Simple Moving Average (SMA) at 0.8425. This indicates bullish momentum is building as the EUR/GBP trades at 0.8443. EUR/GBP Price Forecast: Technical outlook Bulls are in charge but must clear the January 15…
Fundamental OverviewThe USD has been unusually resilient this week despite lots of negative catalysts. The US PPI and Core CPI came in on the softer side which saw the market increasing the easing expectations from 24 bps before the data to 37 bps after. Moreover, yesterday Fed’s Waller delivered some surprisingly dovish comments saying that a rate cut could come in the first half of this year if the inflation data continues to show improvement and that a March cut cannot be completely ruled out.The market pricing increased to 42 bps by year end as a result which is now…
Silver prices (XAG/USD) fell on Friday, according to FXStreet data. Silver trades at $30.54 per troy ounce, down 0.87% from the $30.80 it cost on Thursday. Silver prices have increased by 5.68% since the beginning of the year. Unit measure Silver Price Today in USD Troy Ounce 30.54 1 Gram 0.98 The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, stood at 88.74 on Friday, up from 88.17 on Thursday. Silver FAQs Silver is a precious metal highly traded among investors. It has been historically used as a…
filo/E+ via Getty Images Hennessy Capital Investment Corp. VII (HVII) priced its initial public offering of 17.5M units at a price of $10.00 per unit. The units will be listed on Nasdaq under the ticker symbol “HVIIU” beginning January 17, 2025. Each unit consists of Source link
Earlier this week, we spotted a bullish setup on spot gold (XAU/USD) that played out in favor of the bulls after all. But that was a few days ago. Today, gold is knocking on a key long-term resistance zone. Will XAU/USD bears show up to drag the precious metal lower? Gold (XAU/USD) 4-hour Chart by TradingView In case you missed our recent Daily Market Recaps, cooler U.S. inflation expectations have sparked hopes for multiple Fed rate cuts this year. That’s been a drag on U.S. 10-year Treasury yields and the dollar while giving gold a solid boost as traders look…
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 prices remained broadly unchanged in Malaysia on Friday, according to data compiled by FXStreet. The price for Gold stood at 392.96 Malaysian Ringgits (MYR) per gram, broadly stable compared with the MYR 393.06 it cost on Thursday. The price for Gold was broadly steady at MYR 4,583.42 per tola from MYR 4,584.57 per tola a day earlier. Unit measure Gold Price in MYR 1 Gram 392.96 10 Grams 3,929.61 Tola 4,583.42 Troy Ounce 12,222.47 FXStreet calculates Gold prices in Malaysia by adapting international prices (USD/MYR) to the local currency and measurement units. Prices are updated daily based on the…
The major assets were all over the place on Thursday, as some assets took a breather from their previous moves while others priced in fresh mid-tier catalysts. Can you guess which headlines moved the markets in the last trading sessions? We have the deets! Headlines: Australian dollar eased despite strong December jobs beat Germany final CPI Final in December: 0.5% m/m (0.4% forecast; -0.2% previous) The U.K. printed a bunch of mid-tier data: U.K. Goods Trade Balance: £-19.3B in November (-£17.0B forecast; -£19B previous) U.K. GDP MoM: 0.1% in November (0.1% forecast; -0.1% previous) U.K. Industrial Production MoM: -0.4% in…