Month: March 2024

The European Central Bank (ECB) Governing Council member Yannis Stournaras said on Sunday that a total of four interest rate cuts is possible in 2024, with a total rate reduction of 100 basis points (bps) by year-end. Key quotes “If inflation develops in line with our March forecast and if this trend continues until the end of

Ethereum price trades inside the $3,054 to $4,095 range on the four-hour chart. A sweep of the sell-side liquidity seems likely before ETH attempts to move $4,000. In some cases, ETH could sweep the rang high at $4,095. Ethereum (ETH) price looks ready for an ascent, at least from a breakout traders’ perspective. But this

UPCOMING EVENTS: Monday: China Caixin Manufacturing PMI, US ISM Manufacturing PMI, BoC Business Outlook Survey. Tuesday: RBA Minutes, Switzerland Retail Sales, Switzerland Manufacturing PMI, German Inflation data, US Job Openings. Wednesday: China Caixin Services PMI, Eurozone CPI and Unemployment Rate, US ADP, Canada Services PMI, US ISM Services PMI. Thursday: Switzerland CPI, Eurozone PPI, US

Polygon price continues to hover around the $0.941 level for nearly two years.  MATIC could drop 25%, allowing sidelined buyers to accumulate around $0.762. A bounce here could trigger the Layer 2 token to rally 60% to $1.568. A weekly candlestick close below the $0.762 support level will invalidate the bullish thesis. Polygon (MATIC) price

China has two primary Purchasing Managers’ Index (PMI) surveys – the official PMI released by the National Bureau of Statistics (NBS) and the Caixin China PMI published by the media company Caixin and research firm Markit / S&P Global. The official PMI survey covers large and state-owned companies, while the Caixin PMI survey covers small

If you are trading markets in the EU, UK and/or Switzerland note the change of time zones this weekend. Clocks go forward 1 hour in those locations early on Sunday morning. Check your local times for an earlier opening to markets in impacted countries! And if you do glance at the economic calendar you’ll also

Mon: BoJ Tankan Survey (Q1), South Korea Prelim Trade Balance (Mar), Chinese Caixin Manufacturing PMI Final (Mar), US ISM Manufacturing PMI (Mar), US S&P Global Manufacturing PMI Final (Mar) Tue: RBA Minutes (Mar), CNB Minutes (Mar), South Korean CPI (Mar), EZ/UK Manufacturing PMI Final (Mar), German Prelim CPI (Mar), US Non-Durable Goods R (Feb), Chilean

Enjin Coin price shows that its 90% uptrend after a late February breakout is under threat. Failure from ENJ bulls to make a comeback could lead to a 20% correction to $0.386. A decisive flip of the $0.696 resistance level into a support floor will invalidate the bearish outlook. Enjin (ENJ) price sits atop a

Litecoin price tackles the declining trend line for the third time in nearly two years. A breakdown of the $100 psychological level could lead to a correction to $90 or lower levels. A breakout above the declining trend line could trigger a move of $119 or higher.  Litecoin (LTC) price has been stuck under a

SingularityNET price trades inside the $0.90 to $1.47 range.  A correction is plausible, considering the bearish divergence sell signal on the daily chart. Investors can expect AGIX to sweep the $0.90 level in a worst-case scenario. SingularityNET (AGIX) price set up a range by mid-March and is currently trading inside it, trying to establish a

Markets: Markets closed for Good Friday FX essentially unchanged A holiday throughout global markets usually makes for a quiet news day but that wasn’t the case today with US PCE, Powell and some other odds-and-ends. The PCE report had something for everyone but there was some US dollar selling in the aftermath. I suspect some

Goldman Sachs outlines its projections for the monetary policy paths of both the Federal Reserve and the European Central Bank (ECB) over the coming years. The firm expects the Fed to initiate a series of rate cuts starting in June 2024, eventually reaching a terminal rate range of 3.25-3.5%. In contrast, the ECB is forecasted

The daily chart reveals slightly bullish momentum, with RSI at 52, signifying resilient buying traction. Indicators in the hourly chart denote a mild downward trend, which could hint at a potential shift. Buyers must successfully maintain the main SMAs to mitigate bearish threats and ensure bullish continuation. The EUR/JPY pair is currently trading at 163.13,

This week, Chinese President Xi Jinping spoke with American executives on Wednesday in a bid to short up confidence in the economy. He said that his country was “healthy and sustainable” and listened carefully to concerns from the leaders of Blackstone, FedEx, Qualcomm and others. Worries about the Chinese economy have eased recently but are

The United States PCE Price Index met expectations in February, stayed above the Fed’s goal. European inflation and US employment-related figures will keep investors busy next week. EUR/USD loses the battle around 1.0800, bears could push it towards 1.0600 next week.  The EUR/USD pair closed in the red for a third consecutive week, ending March

Towards the end of last year, it was a case of traders being overly aggressive in pricing in rate cuts. And in the first two months of this year, we saw that pricing course correct a fair bit. But where does that leave us now? The SNB has already surprised with action and there are

Australian Dollar remains tepid as market bias leans towards RBA adopting a dovish stance. Australia’s central bank may consider cutting interest rates in the second half of 2024. US Dollar strengthens as recent data suggests that the Fed may delay implementing rate cuts shortly. The Australian Dollar (AUD) extends its losses for the second successive

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 your initial investment; do not

Gold price soars to all-time high of $2,225, defying rising Treasury yields and a robust US Dollar. Fed Governor Waller’s hawkish comments and upbeat US data were no excuse for the advance in Gold and the US Dollar. Market anticipation builds for the upcoming release of the Fed’s Core PCE index. Gold price rallied during

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 your initial investment; do not

The Pound Sterling rises above 1.2600 against the US Dollar ahead of the US core PCE inflation data for February. The Fed’s preferred inflation gauge could give clues over when the Fed may begin the rate-cut cycle. UK’s soft inflation data for February has lifted expectations for BoE rate cuts in June. The Pound Sterling (GBP) recovers to 1.2640 against

At the same time, a firmer dollar is also contributing to the drop we’re seeing to start the session. The greenback is up across the board, posting modest gains now as European traders enter the fray. EUR/USD is looking to break the 1.0800 mark, as sellers maintain the recent downside momentum by leaning on the