Commenting on the inflation outlook, the European Central Bank (ECB) executive board member Isabel Schnabel said Saturday that she is very confident that Eurozone will not experience ‘excessively high inflation.” Key quotes “Our medium-term inflation projection is subdued: only 1.4% in 2023. Though that is surrounded by uncertainty, I am sure that we will not experience excessively
USD/JPY searches for first day of gains in six days Invest in yourself. See our forex education hub. It is still too early to be saying what the latest bounce in yields really represents and the same can be said for USD/JPY price action at the moment. The pair managed to find some support from
Not the usual correlation This week’s theme has been lower yields and a higher dollar but it started unwinding yesterday and that has continued. US 10-year yields are now up 7.2 bps to 1.36% today. That’s 11 bps above yesterday’s lows, which coincided with the 200-day moving average. We’re now testing the post-Fed low, which
A classic Bitcoin (BTC) on-chain indicator has seen a “hell of a bounce” even as price action stays uncertain. In a tweet on July 9, Philip Swift, creator of analytics resource Look Into Bitcoin, highlighted a dramatic change of course for the Puell Multiple. Advancing Puell and hash rate “a good sign” A deceptively simple
Gold rose on Friday, heading for its best week in seven, bolstered by a weaker dollar and concerns that the spread of the Delta variant of the coronavirus could slow a global economic recovery. Spot gold rose 0.5% to $1,810.99 per ounce by 2:44 p.m. (1844 GMT), and was up 1.4% for the week. US
Market bears had multiple chances to probe a bearish reversal last week, riding on talks like Fed’s tapering, spread of Delta variants, and China’s crackdown on its own technology stocks, as well as foreign IPOs. Yet, the optimists just refused to give up and pushed US indexes to new record closes, after all the volatility.
Traders on the floor of the New York Stock Exchange, June 25, 2021. Source: NYSE Second-quarter earnings reporting season gets underway in the week ahead and eye-popping results could validate a market that continues to easily shake off any concerns on its steady march to record high after record high. The second quarter’s profits for
Gold price books third straight weekly gain, 200-DMA remains in sight. Daily closing above 21-DMA reignites bullish interest, as RSI recovers to 50.00. Gold Price Weekly Forecast: XAU/USD bulls bet on Golden Cross pattern, uptrend support, lower yields. Thursday’s Doji candlestick doesn’t seem to have discouraged the bulls, as gold price staged an impressive bounce
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A look at the CAD/JPY weekly chart Yesterday it looked like CAD/JPY could be headed for an ugly weekly pattern on the chart, falling straight through the June lows in the worst week in just over a year. Today though, the pair has climbed 80 pips to back within the recent range to limit the
Forex news for North American trade on July 9, 2021: Markets: Gold up $6 to $1808 US 10-year yields up 7.2 bps to 1.32% WTI crude up $1.71 to $74.65 S&P 500 up 49 points to 4369 AUD leads, JPY lags For a holiday-shortened week at a time of year that can be absolutely dead,
Mumbai: The National Commodity and Derivatives Exchange (NCDEX) on Friday said its average daily turnover value (ADTV) has increased more than two-folds in June to Rs 1,945 crore compared to the same month in 2020. In June 2020, NCDEX had posted an ADTV of Rs 860 Crore, NCDEX said in a statement. “Continued trade disruptions
The markets are now reversing prior moves in the week, with Dollar, Yen and Swiss Franc trading generally lower. Canadian Dollar is supported by strong job data, while Aussie and Kiwi also recover. Major European indexes are trading slightly up as DOW futures is also up over 260 pts. US 10-year yield is back above
GBP/USD outlook: Bulls regain traction but more evidence needed to signal reversal Cable regained traction on Friday after negative tone prevailed during this week, with three-day drop ending with a hammer candle that generated initial bullish signal. Fresh advance nearly fully reversed losses of this week but needs lift above pivotal barriers at 1.3887/97 (falling
AUD/USD turns around the earlier drop to climb to 0.7460 The low today hit 0.7411 in Asian trading, which marked the lowest level for the pair since December, but things are quickly changing now in European trading as risk sentiment is also lookin more positive for the time being. European equities are rallying while US
European indices are trading higher in the opening hour The DAX is up 0.6% while most other European indices are holding similar gains as the risk mood is holding up after the drop yesterday. US futures have also turned around a decline in Asia to keep slightly higher now: The improved risk backdrop comes as