NEW DELHI: Gold rose by Rs 285 to Rs 48,892 per 10 gram in the national capital on Tuesday following a rally in global precious metal prices, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 48,607 per 10 gram. Silver also jumped Rs 952 to Rs 71,850 per
Canadian Dollar jumps broadly today, following upside breakout in oil price, and partly supported by solid GDP growth data. Australian Dollar is following as the second strongest, while Dollar is also rebounding. On the other hand, Sterling reversed earlier rallies after failing to sustain above a key resistance against Dollar. Subsequent selloff sends the Pound
The Canadian economy rose at a 5.6% rate during the first quarter according to data released on Tuesday, slightly below expectations. According to National Bank of Canada analysts, the report does not change their view for strong growth in the second half of 2021. Key Quotes: “While real GDP growth in Q1 was below consensus
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In today’s video, we’re going to talk about breakout trading. We will cover some of the best trading tactics used to trade breakouts by professional traders. Breakout trading is one of our favorite entry types when trading the markets. This strategy has been responsible for some of my largest gains over the years. In this
WTI up 1% just above $67 currently Oil is trading close to its best levels for the year and from a technical perspective, may be set for a surge of gains if it can hold a daily close above $67 with a firm break above the $68 level preferable for buyers to extend the upside
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 of your initial investment; do
In an increasingly crowded marketplace for marketplaces, Binance is going on the offensive with a business development push aimed at bringing “100 Creators” to their forthcoming NFT platform. In a press release today, Binance announced a drop from Misha Most, a noted street artist who currently holds the world record for the largest wall mural.
Gold prices on Tuesday traded near a five-month high scaled last week, supported by a softer dollar and growing inflationary pressures, while investors awaited key U.S. data that will provide a clearer picture on the global economy’s recovery path. Spot gold was steady at $1,907.54 per ounce by 0048 GMT. Last week, gold prices hit
Trading continue to be relatively subdued as US and UK are both on holiday. Sterling is mildly softer, followed by Dollar, and Swiss Franc. On the other hand, Australian Dollar is strengthening mildly, ahead of RBA rate decision in the upcoming Asian session. It’s highly unlikely for the central bank to alter the forward guidance
Analysts at HSBC raised their forecasts on the Chinese yuan, as they see the currency strengthening more than expected recently. Key quotes “Q2 6.25 vs. prior forecast at 6.5, Q3 6.45 vs. 6.5 previous. “ “By end-2021, USD/CNY will revert to 6.6.“ “Net FX inflows to China have moderated slightly YTD.” “Expect this narrowing trend
Its month end too The US the stock market is opening with relatively modest and similar gains across the major indices. Remember, it is month end today (the stock market will be closed on Monday for Memorial Day). That could lead to flow data and increased volatility. A snapshot of the market currently shows: S&P index up 12.18 points or
ANZ are expecting expect further drawdowns in global inventories ahead: The outlook for road transportation fuels is improving strongly ahead of the northern hemisphere’s summer driving season. High vaccination rates have seen restrictions ease and mobility increase in the US and Europe. In fact, gasoline demand has now exceeded 2019 levels in many areas. This
NEW DELHI: Gold prices held firm above the key $1,900-level on Monday after US consumer prices rose more than the expected in April and supported the metals as an inflation hedge. Gold prices were strong in the domestic market as concerns of rising inflation looms and a strengthened rupee. US consumer prices surged in April,
Dollar weakens broadly in relatively quiet Asian session today, while Australian Dollar is strengthening. Asia markets are trading mildly lower, but losses are limited. Month-end flow, plus holiday in the UK and the US, could keep activity subdued today. But the week ahead is extremely busy, with lots of first-tier economic data featured. Technically, Dollar’s
Lee Sue Ann, Economist at UOB Group, sees the RBA leaving the policy rate unchanged at its meeting on June 1st. Key Quotes “We continue to expect the cash rate to remain unchanged until 2024 and expect a full AUD100bn extension of quantitative easing (QE) beyond the second round”. “That said, we think that Yield
Bollinger Bands is one of the most popular and broadly used trend-following indicators for forex and stock trading. In this video you’ll discover: • What is the Bollinger bands indicator and how Bollinger bands work in forex and stock market • How to use and how to read Bollinger bands (how to buy and sell