The corrective downside in AUD/USD is seen facing a solid support around 0.7625 in the next weeks. Key Quotes 24-hour view: “The sharp plunge in AUD to an overnight low of 0.7646 came as a surprise. The rapid decline is deeply oversold and while AUD could weaken further, it is unlikely to threaten the next
A trade is profitable only if both the purchase and the sale are done at the right time. Many times, traders sell their positions too early and leave profits on the table or they keep holding on to the trade even after the trend changes. This leads to profits evaporating, and many times the trade
Moves away from consolidation area. The AUDUSD has been stuck within a trading value area between 0.7700 and 0.7795 since May 12. There was an extension to an extreme low to 0.76269 last week, but that was quickly erased. Today, the pair saw a London session high that stalled just below the 200 hour moving average at 0.77404 (green line), and break -with
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
NEW DELHI: Gold in the national capital on Thursday dipped Rs 339 to Rs 48,530 per 10 gram following decline in global precious metal prices, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 48,869 per 10 gram. Silver also tumbled Rs 475 to Rs 70,772 per kilogram from
Dollar trades slightly higher in early US session on much better than expected ADP private job data. Though, upside is so far limited, as traders remain cautious ahead of tomorrow’s non-farm payrolls report. Sterling is following as the second strongest for today, then Yen. On the other hand, commodity currencies are generally lower, as led
A Wingets restaurant displays a “Now Hiring” sign in Tampa, Florida, U.S., June 1, 2021. Octavio Jones | Reuters Private job growth for May accelerated at its fastest pace in nearly a year as companies hired nearly a million workers, according to a report Thursday from payroll processing firm ADP. Total hires came to 978,000
Dallas Fed President Robert Kaplan reiterated on Thursday that he would rather see the Fed take its foot a little off the gas pedal sooner rather than later, as reported by Reuters. Additional takeaways “The spending tailwind for the US rconomy looks strong.” “Right now, balance of power is to the worker, who can wait for a better
Major indices little changed The US stocks gave up most of their earlier gains but still found some buying near the close and are closing higher on the day. The Dow industrial average has extended its winning streak to 5 trading days. The Dow is 2% from its all-time high The S&P is up 4 of the last 5 trading days. The S&P
Forex news for Asia trading on Thursday 3 June 2021 Major FX has moved very little during the session here so far in Asia. News flow has been light and, obviously, of negligible impact. Data flow, on the other hand, has been plentiful (see bullets above) but also, and again obviously, non impactful. “Awaiting the
Bitcoin’s anonymous creator Satoshi Nakamoto is set to be depicted in a life-size bronze statue in Budapest, the capital city of Hungary. According to local news outlet Hungary Today, sculptors, Réka Gergely and Tamás Gilly are designing the statue, and have unveiled initial plans depicting a figure with a featureless face wearing a Bitcoin hoodie.
By Swansy Afonso and Ranjeetha PakiamIndia is moving closer toward setting up spot contracts for gold, finalizing rules for trading and providing the world’s second-biggest consumer a firmer grasp over setting the price of bullion. The gifting of gold at weddings and festivals, and its purchase as a store of value are deeply held traditions
Trading continued to be rather subdued in Asian session. Major pairs and crosses are staying inside yesterday’s range, as well as last week’s range. Sterling is currently the weakest one, after failing to follow through the rally attempt earlier this week. Dollar is the next weakest for now. On the other hand, Aussie and Swiss
The recent spike in U.S. inflation is likely transitory for now — but it could become more persistent in the coming years as more people return to work, said former New York Fed President William Dudley. “I think that the scare right now is probably going to abate a bit as we go through the
Reuters came out with the news during early Thursday, quoting the British High Commissioner to Australia Vicki Treadell, “Britain and Australia held another round of talks to progress a free trade deal.” Additional comments… We are working hard to have an agreement in principle at the bilateral between Prime Ministers Johnson and Morrison on June
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