NEW DELHI: Gold futures were trading with marginal cuts on Monday buoyed by concerns over inflation after US President Joe Biden announced a $2 trillion-plus jobs plan last week, while a stronger dollar and elevated US Treasury yields limited bullion’s upside. Gold is seen as a hedge against rising inflation, but firmer Treasury yields, which
Month: April 2021
GBP/USD regained positive traction on Monday and shot to two-week tops. The risk-on mood undermined the safe-haven USD and remained supportive. The USD downside seems limited, warranting some caution for bullish traders. The GBP/USD pair rallied over 50 pips during the early European session and climbed to two-week tops, around the 1.3865-70 region in the
Midpoint of the move down from teh March 18 high tested The GBPUSD moved up to test the swing area in the 1.3796 to 1.3811 area near the start of the NY session (see post here). There were bullish undertones as a result of the base against support at the lows and the move back
Historical trends act as a gauge for traders to assess the possibilities for the future. April has been a bullish month for Bitcoin (BTC) with eight monthly closes in the green and only two instances of negative returns. Danny Scott, the CEO of the Bitcoin exchange CoinCorner, said that Bitcoin could rally to $83,000 if
LONDON/DUBAI: OPEC+ will debate two key options for oil policies from May and beyond, including a rollover of existing cuts and a gradual increase of production, three OPEC+ sources said. The Organization of the Petroleum Exporting Countries (OPEC) and allied producers, a grouping known as OPEC+, are cutting output by a little more than 7
What you need to know on Monday, April 5: Risk -on took over financial markets on Friday, as the US added 916K new jobs in March, while upwardly revised the January and February figures. Stocks markets were closed amid Good Friday, but DJIA and S&P futures surged to unexplored territory. US Treasury yields ticked higher,
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100 hour moving average, 100 day moving average and 200 hour moving average tested on the AUDUSD. The AUDUSD is down trading at new session highs after erasing earlier declines that saw the pair move to the lowest level since December 2020. The rise has now taken the price up to a cluster of moving average levels including the 100
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After beginning Calendar 2021 with a bang, the commodity market seems to have taken a breather after a decent rally. Gold and silver prices have eased 9-15 per cent from last year’s peaks on signs of economic recovery amid the Covid-19 vaccination drives, and moved in the ranges of $1,678-1,954 and $24-29 per ounce, respectively.
An ‘Open House’ sign is displayed as potential home buyers arrive at a property for sale in Columbus, Ohio. Ty Wright | Bloomberg | Getty Images Home price gains are accelerating at an alarming pace, fueled by Covid pandemic-related inflation, which some claim is not getting enough attention from the Federal Reserve. Home prices nationally
EUR/USD regains downside traction near 1.1750. US Nonfarm Payrolls surprised to the upside in March. The US unemployment rate eased to 6.0% last month. The single currency trades on the defensive and motivates EUR/USD to shed some ground and revisit the mid-1.1700s on Good Friday. EUR/USD fails to re-test 1.1800 EUR/USD so far reverses two
1.25387 to 1.25474 is key swing area WTI crude oil is trading up $2.33 as production cuts in OPEC+ will remain in place (at least for now). That is a gain of 3.88%. The price reached a high of $61.59 so far. The move higher has helped the CAD move higher (the USDCAD lower). The
US jobs report is due at the bottom of the hour It’s non-farm payrolls Friday but it’s also Good Friday and that means most markets are closed. The jobs report will land in a thin market and if you’re trading it, beware of light liquidity and exaggerated moves. The consensus estimate is +650K and there’s
According to a security analyst, sensitive personal information for over half a billion Facebook users was leaked on a well-trafficked hacking forum earlier today — a potential risk to millions of cryptocurrency traders and hodlers who now may be vulnerable to sim swapping and other identity-based attacks. The trove of information was first discovered by
MUMBAI: India‘s gold imports in March surged 471% from a year earlier to a record 160 tonnes, a government source told Reuters on Thursday, as a reduction in import taxes and a correction in prices from record highs drew retail buyers and jewellers. Higher imports by the world’s second-biggest bullion consumer could support benchmark gold