Author: FX

Contango Ore files for $200M mixed securities shelf Source link

NZD/USD pair traded volatile during Friday’s session, clearing all of its daily gains. Pair initially soared to a high around 0.5970 near the 20-day SMA before erasing all the gains towards 0.5850. The RSI signaled that buying pressure recovered as it neared the oversold area with a rise in slope. The NZD/USD saw a volatile session on Friday, initially soaring to a high around 0.5970 near the 20-day Simple Moving Average (SMA) before erasing all the gains towards 0.5850. The pair mildly rose to 0.5855, indicating that the bulls have limited power and that the bears continue in command but…

Jeffrey C. Sprecher, the Chief Executive Officer of Intercontinental Exchange, Inc. (NYSE:), recently sold a significant portion of his common stock holdings in the company. According to a Form 4 filing with the Securities and Exchange Commission, Sprecher sold a total of 149,000 shares on November 13, 2024. The transaction was executed at a price range between $155.9979 and $156.5698 per share, resulting in a total sale value of approximately $23.4 million. In addition to the sales, Sprecher made a philanthropic gift of 32,000 shares to a charitable organization. Following these transactions, Sprecher retains direct ownership of 1,147,993 shares and…

Silver struggles to maintain momentum, hovering near the 100-day SMA at $30.34 with a downward bias. Potential further decline could see silver test key supports at $30.00 and the 200-day SMA at $28.63. A rebound above $31.00 could challenge higher resistances, targeting the 50-day SMA at $31.51 and beyond. Silver’s price fell over 0.70% beneath $30.30 after robust US Retail Sales data suggested the Federal Reserve could gradually ease policy. At the time of writing, the XAG/USD trades at $30.21 after hitting a daily peak of $30.81. XAG/USD Price Forecast: Technical outlook Silver price remains subdued at around the 100-day…

Markets:Gold down $4 to $2562US 10-year yeilds up 2 bps to 4.44%WTI crude oil down $1.71 to $66.99S&P 500 down 1.3%JPY leads, GBP lagsThere wasn’t a tidy narrative on Friday as trading started out with a ‘sell everything’ mode before bonds made something of a comeback. Still, it was a tough one for stocks, bonds and equities. In that environment you would expect to see US dollar strength but that wasn’t the case as the euro and Australian dollars held steady.The retail sales report was the main event of the day ahead it was better than the headline looked due…

The Dow Jones fell seven-tenths of a percent on Friday. Stocks are paring back recent election-fueled gains. US Retail Sales beat forecasts, but still grew by a smaller amount in October. The Dow Jones Industrial Average (DJIA) trimmed it’s recent bull run, declining over 350 points at its lowest and giving back roughly 0.85% as investors grapple with an increasingly uncertain future. US Retail Sales beat expectations but still eased back from previous figures, and Federal Reserve (Fed) Chair Jerome Powell splashed cold water on rate-cut-hungry investors this week when he reaffirmed that the Fed wasn’t “in a hurry” to…

Gold price dips below $2,570 head for an over 4% weekly decline. Jerome Powell indicates the Fed is cautious about cutting rates despite positive US economic indicators. Investors adjust expectations for a December rate cut, with likelihood dropping to 62% after Powell’s comments. US Retail Sales show growth while Industrial Production improved, despite remaining subdued. Gold prices extended their losses for the sixth straight day, set to achieve weekly losses of over 4%, the largest since September 2023. Federal Reserve Chair Jerome Powell’s slight “hawkish” rhetoric lifted the Greenback, denting appetite for the golden metal. At the time of writing,…

The shine of the election has run into uncertainty about tariffs and elevated P/Es. Pretty much all the gains after the open on post-election morning are now gone and the S&P 500 is now threatening the opening gap while the Nasdaq has already taken a decent bite.Trump’s cabinet picks are leaning heavily on “promises made, promises kept” and the market is wondering about the biggest promises: 60% tariffs on China, 10% across the board and mass deportations of 11m illegal immigrants.Nasdaq dailyClosing changes:S&P 500: -1.3%Nasdaq Comp: -2.2%DJIA: -0.7%Russell 2000: -1.5%Toronto TSX Comp: -0.7%On the week:S&P 500: -2.1%Nasdaq Comp: -3.1%Russell 2000:…

The Canadian Dollar continued its march lower on Friday. Canada remains inconsequential on the economic calendar. CAD traders to wait for next Tuesday’s Canadian CPI print. The Canadian Dollar (CAD) found fresh lows on Friday as broader markets continues to pivot into the safe haven Greenback. A slight miss in US Retail Sales was all it took to bolster the US Dollar and send USD/CAD into fresh multi-year highs. Canada continues to remain absent from the economic calendar this week. A week of strictly low-tier, low-impact data has left the Canadian Dollar on the ropes, but next week’s Canadian Consumer…

Bitcoin is closing out a great week on a positive note. It briefly fell below $88K in US trading but has been steadily bid since and particularly in the past hour. It’s now up 3.3% on the day to $91,200 and that’s coincided with a modest rebound in risk appetite more broadly. This article was written by Adam Button at www.forexlive.com. Source link