The concerns voiced about the consensus mechanisms of Bitcoin (BTC) and Ethereum (ETH) have played a part in the sideways price action both assets have seen over the past two months, opening the door for other competing projects to gain attention. One project that managed to overcome the sideways action in the market and rally
Month: July 2021
The dollar trades a little lower alongside the yen Not a whole lot is going on in Europe as movement among major currencies is relatively light, though commodity currencies are holding a slight advance. EUR/USD is trading narrowly within a 20 pips range between 1.1813 and 1.1833 (1.1827 currently) with GBP/USD keeping in a 28
Impressive bounce in the past two days Weak hands were shaken out of the crude oil trade from Tuesday to early Thursday but a rebound late yesterday was followed by a $1.54 gain today to leave crude oil only modestly lower on the week. It does however cap a six-week winning streak after a one-way
NEW YORK: Oil prices rose for a second day on Friday as the market reacted to falling US inventories, and signs of strong Asian demand from both China and India added support. Brent crude oil futures were up $1.43, 1.93%, at $75.55. US West Texas Intermediate futures were up $1.62, or 2.2%, at $74.56. “The
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
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
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
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,
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
The FOMC minutes for the June meeting confirmed more optimism over the economic outlook. Unwinding of stimulative monetary policy would likely begin earlier than previously anticipated. As the members would begin tapering discussions in coming months, we expect an announcement would be made by end of the year. Meanwhile, the first rate hike could come
AUD/USD consolidates the stellar recovery below 0.7500 The aussie resistance aligns around 0.7490 where key averages coincide. Hourly RSI has turned flat below the overbought region. AUD/USD is consolidating its robust recovery from seven-month lows below 0.7500, as the bulls take a breather before the next push higher. Looking at the hourly chart, the aussie’s
Discover three day trading strategies using 21 and 55 exponential moving averages (EMA), to anticipate trends on Forex & stock market, using volume analysis, divergences from technical indicators and bull/bear flag pattern. In this video you’ll learn: • Several day trading strategies using exponential moving averages, volume and divergences to find the best signals •
On July 9 Bitcoin and the wider cryptocurrency market saw a moderate relief rally that helped recover some of the losses seen on Thursday but a handful of analysts continue to caution that BTC could still drop to the $24,000 to $29,000 range in the short-term. Data from Cointelegraph Markets Pro and TradingView shows that the price of
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
No offense to our Scottish and Welsh readers The cable bid has been relentless today. It was briefly squashed on fixing sales but it quickly came back and has been a one-way move that’s now extended to 100 pips. I earlier said that the weekly high of 1.3898 was out of reach before the close
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
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