GBP/USD remains on the back foot around 1.2430 as it stretches the post-NFP reversal from a three-week high during the early hours of Monday’s Asian session. The Cable pair drops below the 50-DMA support while extending the previous day’s U-turn from a horizontal resistance area However, the looming bull cross on the MACD indicator highlights the importance of an...
One US and one Canadian warship passed through the Taiwan Strait on Saturday, the US Navy said. It is a show of military might that has angered China in the past and could push the two countries further apart. There were faint hopes that the annual Shangri-La Dialogue would be an opportunity to mend relations between the United States and China, which are at...
GBPJPY climbed to fresh year-to-date (YTD) highs at 174.68 before a pullback that dragged the exchange rate toward the 174.10s area. A risk-on impulse caused expectations for a dovish US Federal Reserve (Fed) amongst geopolitical issues like the US debt-ceiling resolution underpinned high beta currencies. Therefore, safe-haven peers persisted pressured, as the...
The U.S. dollar is the world’s preeminent reserve currency, which gives the government unparalleled financing flexibility. Some of these strengths could be eroded over time by governance shortcomings. Multiple people have warned that the debt crisis could erode the U.S. dollar’s dominance, including veteran investor Jim Rogers and economist Peter Schiff. However,...
Biden: America has avoided economic crisis and economic collapse ① On June 2, local time, US President Joe Biden delivered a national address at the White House on the upcoming "The Fiscal Responsibility Act", which will be signed by Biden. June 3 to contain the United States. historic default after June 5. In his speech, Biden announced that spending would be...
"The May Manufacturing PMI® registered 46.9 percent, 0.2 percentage point lower than the 47.1 percent recorded in April. Regarding the overall economy, this figure indicates a sixth month of contraction after a 30-month period of expansion. The New Orders Index remained in contraction territory at 42.6 percent, 3.1 percentage points lower than the figure of 45.7...
On April 20, the European Parliament approved the regulation of digital currency with 517 votes in favor, 38 votes against and 18 abstentions. According to AFP news agency, the new regulation is to ensure that authorities can trace digital currency assets; prevent money laundering, terrorist financing and other criminal activities. Major crypto-related service...
The current resistance zone fluctuates in a small range 1955 - 1973 Gold price is currently being restrained by the news that the Fed will continue to raise the basic interest rate to 25 points Contrary to this, Nonfarm data is very low, supporting the break of resistance of gold 1970-1974 Gold plunged more than 7% off those highs with a three-week decline now...
The US dollar strengthened to start the European session on Wednesday after weak Chinese activity data weighed on risk sentiment, while the US debt ceiling preference cleared a barrier. main barrier. important. At 03:55 ET (07:55 GMT), the Dollar Index, which tracks the greenback's trajectory against other currencies, was up 0.2% to 104.300, right at a two-month...
The dollar retreated from 10-week highs amid some profit taking and in anticipation of the data. But an increasingly hawkish outlook on the Fed kept the greenback relatively underpinned, while darkening the outlook for non-yielding assets such as gold. Rising interest rates push up the opportunity cost of investing in non-yielding assets - a trend that battered...
XAUUSD further tests the uptrend line as support as it dips below the line briefly early in the session to a new trend low of 1,932, before rallying to a three-day high. It is on track to complete the day at its highest daily close in at least four days. Support around the uptrend line is strengthened by its convergence with the 50% retracement and completion...
With the current index, there won't be too much movement for gold However, the current news focusing on debt hearings and the Fed raising or keeping the old interest rates also put a lot of pressure on gold. If the reality is equal to the forecast of 99.1, gold is likely to retest the 1970 zone 𝖷𝖠𝖴𝖴𝖲𝖣 BUY LIMIT 1947 - 1951 💯💯 ✅𝖳𝖯1 1955 ✅𝖳𝖯2 1960 ✅TP3 1965 🛑𝖲𝖫 1940
Gold (XAU) is trading on the bearish side of $1956.30 (S1), putting it in a weak position. A sustained move under $1956.30 (S1), however, could extend the selling into $1923.06 (S2). Aggressive counter-trend buyers could come in on the first test of this level, but if it fails, then look for the selling to possibly lead to a near-term test at $1876.81...
Prices: Crypto and Asian stock markets opened strongly as the White House announced a deal averting a debt ceiling crisis, with Bitcoin and Ether seeing increases of 5% and 4.9%, respectively. Insights: China didn't say much new about Web3 in a paper it released over the weekend, but the report represented progress in a country that has scaled back its approach...
Gold price is expected to escalate its downfall as a rebound in households’ spending has strengthened fear of more interest rates by the Fed. Friday’s United States Personal Consumption Expenditure (PCE) Price Index (April) data showed persistence in inflation as individuals are still spending significantly. Also, US Durable Goods Orders data expanded by 1.1% vs....