The British pound is still holding up quite well against the US Dollar but zooming out to a long-term daily or weekly chart shows that the price is consolidating more than it is trending despite the weakly bullish feel. The weaker US Dollar is significant, because last week the USA released weaker-than-expected US inflationary indicators…
Potential signal: I am a buyer here. However, I have a stop at the bottom of the day, and am aiming for a move to 30,100. The Nasdaq 100 continues to be very noisy on Friday, as traders are looking ahead to the weekend and all of the potential market-moving headlines that could come out….
The USD/MXN continues to correlate to the broad Forex market as the Mexican Peso traverses a known price realm, but one filled with angst which has dominated the past few months of results. The USD/MXN does remain in the lower long-term realms of its value but has shown a tendency in the mid-term to be…
The US dollar initially fell against the Japanese yen during Friday’s trading session, but later recovered and showed renewed strength. Overall, the pair remains uncertain as US yields decline, yet they are still far above Japanese yields, making a meaningful shift difficult to envision. The 162.8 yen level above remains a key area many traders…
Financial markets showed surprising resilience on Monday despite another escalation in the US-Iran conflict over the weekend. Brent crude briefly surged above $90 after opening with a gap higher but failed to sustain the advance, retreating back below that level during the European session. The inability of oil to extend its gains helped stabilize broader…
The euro is awaiting signals from the ECB regarding a rate rise. The pound will be looking for clues in the macroeconomic data. The US dollar is finding support amid geopolitical developments and the high likelihood of Fed tightening. Although the futures market has priced out the prospect of a federal funds rate hike in…
Silver briefly slipped below the key $55 level on Friday but quickly regained its footing as the new week began, despite Brent crude gapping above $90 following another escalation in the US-Iran conflict. The lack of additional selling is notable. Throughout last week, higher oil prices fueled expectations of renewed inflation pressure, lifting Treasury yields…
On 6 July, Ripple received a full Crypto-Asset Service Provider (CASP) licence under the Markets in Crypto-Assets (MiCA) regulation from Luxembourg’s financial regulator, the CSSF. The approval allows the company to offer regulated crypto payment services across all 30 countries of the European Economic Area (EEA). The market reaction was relatively muted, with XRP showing…
Key Highlights EUR/USD is facing key hurdles near 1.1500. A rising channel is forming with support at 1.1400 on the 4-hour chart. GBP/USD jumped to 1.3560 before there was a pullback. WTI Crude Oil prices climbed further and traded above $84.00. EUR/USD Technical Analysis The Euro remained supported above 1.1365 against the US Dollar. EUR/USD…
Brent crude began the week with a gap higher, breaking above the key $90 psychological level as markets reacted to another round of deteriorating developments in the US-Iran conflict. Reports of US fatalities, a strike on a Kuwaiti energy facility, Iran’s declaration that the ceasefire was no longer valid, and renewed claims that the Strait…