Gold prices were trading mildly lower on Tuesday following strong bond yields and strength in the US dollar, which dented the bullion’s appeal. The yellow metal is headed for a straight second monthly loss. Higher US 10-year treasury yields lower the appeal of zero-yield gold, while a stronger dollar makes greenback-priced bullion more expensive for
Month: May 2022
EURSUD him trades between its 100/200 hour moving averages The EURUSD has dipped below the 100 hour MA for the first time (with momentum at least) since May 17. The 100 hour MA is at 1.07242 currently. The move lower comes after trading to a new cycle high on Monday up to 1.07857. The price
Prior quarter was +6.7% (revised to +6.6%) March GDP +0.7% m/m Feb GDP +1.1% (revised to +0.9% m/m) April flash GDP estimate +0.2% m/m Q1 real GDP +0.8% vs +1.6% q/q Q1 GDP price index +2.9% q/q vs +1.9% prior The Bank of Canada estimate was 3.0% and their decision is tomorrow. This is a
Canadian Dollar is trading as the strongest one so far for the week. Rising oil price is giving extra support to the Loonie, on the back of improving overall risk sentiment. Aussie and Euro are firm behind too. Yen remains the worst performing one, followed by Swiss Franc and Dollar, while Sterling is mixed. US
AUD/USD pulled back from a three-and-half-week high touched earlier this Tuesday. The risk-off impulse weighed on the risk-sensitive aussie amid resurgent USD demand. A sustained break below 0.7100 is needed to support prospects for additional losses. The AUD/USD pair witnessed a modest pullback from a three-and-half-week high, levels just above the 0.7200 mark touched earlier
Pseudonymous Shiba Inu (SHIB) founder ‘Ryoshi’ has walked away from the community after deleting all of their Tweets and blog posts this week. Much like Bitcoin (BTC) founder Satoshi Nakamoto, Ryoshi’s identity has remained unknown since the project launched in August 2020. Additionally, they have also held a hands-off approach to the memecoin much like
May 31: Gold prices dropped on Tuesday, as a higher dollar and rising U.S. Treasury yields weighed on demand for greenback-priced bullion, which is set for a second straight monthly loss for the first time since March 2021. FUNDAMENTALS * Spot gold was down 0.5% at $1,847.50 per ounce, as of 0057 GMT. U.S. gold
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USDJPY confined by technical levels above and below The UDSJPY has traded down and back up and trades modestly lower vs. the close from yesterday. The current price is trading at 126.94. The price closed at 127.07 yesterday. Looking at the hourly chart above, the high price today reached 127.192. That was just short of
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Markets are generally in risk-on mode in Asian session today, with rallies in major indexes, oil prices and cryptos. Dollar is extending recent correction and would likely continue further. Yen and Swiss Franc are the next weakest. On the other hand, Australian Dollar is leading New Zealand and Canadian Dollar higher. Euro and Sterling are
EUR/USD has been dragged to near 1.0740 on extremely hawkish comments from Fed Waller. Fed Waller advocates a spree of 50 bps interest rate until the Fed finds a substantial cut in CPI. The eurozone HICP is expected to land sharply higher than the estimates. The EUR/USD pair has witnessed an intense vertical fall in
On this episode of What’s On Your Mind? #WOYM – ITPM Mentors Ben Berggreen & Raj Malhotra have a laid back discussion on what they think matters right now in the financial markets when making trading and portfolio management decisions. Subscribe below to get notifications for future episodes. We will be releasing new episodes every
Gold prices were trading mildly higher on Monday as the weakening US dollar buoyed greenback-priced bullion, although gains were capped by some investors turning to riskier assets in Asia. Federal government offices, stock and bond markets, and the Federal Reserve will be closed on Monday for the Memorial Day holiday in the United States. Gold
USDCAD trades below its 50% midpoint The USDCAD moved lower in the early Asian session and in the process broke below its 50% midpoint of the move up from the April 21 low. That level comes in at 1.27677. The price has stayed below that midpoint level since the break. Stay below the 50% retracement
Headlines: Markets: EUR leads, CHF lags on the day European equities higher; S&P 500 futures up 0.8% Gold up 0.1% to $1,855.53 WTI crude up 0.7% to $113.03 Bitcoin up 6.6% to $30,647 It was a quiet session for the most part as markets carried over the trading themes from last week. With it being
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