Crude oil futures are settling at $78.35, which is down -$1.71 or -2.14%. The high price today reached $80.11 which was just short of the 100-day MA (blue line on the chart below). Yesterday, the price approached that MA and found willing sellers as well. On the downside, the 200-day MA (green line) looms at
Month: August 2024
XRP supply on exchanges is on a steady decline, signaling a decline in selling pressure per Santiment data. Ripple started testing its stablecoin in private beta, while traders digest SEC lawsuit ruling. XRP whales drop their tokens, while retail traders accumulate since last week’s crypto crash. XRP extends gains to $0.57 and eyes 10% rally
Besides the classic “as expected,” one of the analysts’ favorite phrases is “markets are talking.” This means that significant price changes could indicate that something major is coming. For example, if investors anticipate an increase in geopolitical tensions that could disrupt supply chains or oil or gas production, the dollar index, gold, and even Treasury
The European indices are dragged higher by the US stocks, but gains are more subdued. While the S&P index is up 1.33% and the NASDAQ is now up 2.0%, the biggest gain in Europe was Spain’s Ibex which increased by 0.73%. The other indices were more subdued. The final numbers are showing: German DAX, +0.48%
A market leader in providing liquidity solutions, X Open Hub, has confirmed its involvement in one of the largest online trading, fintech and crypto events in Asia-Pacific (APAC), announcing its role as an official exhibitor at the inaugural FMPS:24. The company will have a strong presence at the expo, shining a spotlight on its innovative
From major financial institutions to individual investors, participants in the $7.5 trillion per day forex market rely on dedicated intermediaries to access this vast and complex ecosystem. Operating behind the scenes but fulfilling a vital role, forex brokers have become the crucial conduit between regular traders across the world and the fluid currency markets they
Fundamental Overview The S&P 500 bounced strongly from the lows last week following the good US Jobless Claims figures as the data quelled some of the fears around the labour market after the weak US NFP report. That’s been also evident from the market pricing for rate cuts as expectations for a 50 bps cut
The Pound Sterling surges as upbeat UK employment data weighs on BoE sequential interest-rate cut bets. The UK Unemployment Rate unexpectedly fell to 4.2%, while Average Earnings grew more than expected. Investors await July inflation data from both the UK and the US, which will be published on Wednesday. The Pound Sterling (GBP) strengthens against the US Dollar (USD) in Tuesday’s
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
Polymarket has partnered with AI search engine Perplexity to enhance user experience. Perplexity’s AI integration will provide summaries for odds and news before users decide to wager. Polymarket’s latest partnership comes after its largest single-day loss in open interest worth $20 million. Polymarket partnered with the Artificial Intelligence search engine Perplexity on Monday to enable
Nikkei 225 daily August 5 was the worst day in the history of the Nikkei 225 index as it cratered 12%. Just over one week later, that decline is now fully erased. The index is up 2.5% today as Japan returns from a long weekend. That puts it back at the closing level on August
The USDJPY has moved lower as the day comes to a close and in the process is moving closer to near converged 100 and 200 hour moving averages. In the new trading day, if the price can stay above those moving averages, the bias would remain more positive. Conversely, break below and look for more
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
XAU/USD Current price: $2,464.29 Speculation that the Fed has no choice but to trim interest rates weighs on the US Dollar. The United States will publish the July Consumer Price Index later this week. XAU/USD is poised to extend gains despite near-term overbought conditions. Spot Gold kept rallying on Monday, up for a third consecutive
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
A looming, or in some cases an apparent economic downturn, combined with a shifting banking atmosphere, underscores the need for a new approach to business banking. What exactly a new era of banking looks like is of course a matter for debate, one that will be on full display at the upcoming Finance Magnates Pacific
Fundamental Overview The losses peaked for the Canadian Dollar last Monday as the volatility normalised, and we got some good US data throughout the week. That helped to turn around the risk sentiment and give the Loonie a boost. The market has been slowly paring back the aggressive rate cuts expectations for the Fed as
Level of returns, coupled with flexibility, has been the main reasons driving the ever-growing interest in forex trading. However, one of the most critical decisions a trader must make is picking the right trading platform since it will significantly determine how effective and successful your trading is going to be. The article tends to go
Dogecoin, Shiba Inu, Pepe, Dogwifhat, and Bonk extend losses following Bitcoin’s drop to around $58,000. Meme coins have observed a decline in on-chain activity. Meme coin market capitalization shrinks to $40 billion on Monday. Meme coins erased 6% of their market capitalization in the last 24 hours, down to $40 billion per CoinGecko data. The
Tuesday’s key events include several important economic indicators from Australia, such as the Westpac consumer sentiment report, the wage price index q/q, and the NAB business confidence. In the U.K., we’ll see the release of the claimant count change, the average earnings index 3m/y and the unemployment rate. Meanwhile, in the U.S., the market will
EUR/USD holds gains despite increasing risk aversion sentiment on Monday. Israeli intelligence expects Iran to launch an attack within the next few days. Fed Governor Bowman suggests that the central bank may not be prepared to cut rates in September. EUR/USD halts its four-day losing streak, trading around 1.0920 during the Asian session on Monday.
The Organization of the Petroleum Exporting Countries (OPEC) is set to release its latest monthly report on Monday August 12. The OPEC Monthly Oil Market Report (MOMR) covers major issues affecting the world oil market and provides an outlook for crude oil market developments for the coming year. The report provides a detailed analysis of
UPCOMING EVENTS: Tuesday: Australia Wage Price Index, UK Labour Market report, Eurozone ZEW, US NFIB Small Business Optimism Index, US PPI. Wednesday: RBNZ Policy Decision, UK CPI, US CPI. Thursday: Japan Q2 GDP, Australia Labour Market report, China Industrial Production and Retail Sales, UK Q2 GDP, US Retail Sales, US Jobless Claims, US Industrial Production
Ethereum’s recent decline could alter predictions of ETFs sending ETH to an all-time high of around $5,000. ETH options worth $560 million expired on Friday amid market crash. Ethereum could reclaim key support level as technical indicators suggest bearish momentum is weakening. Ethereum (ETH) is up 0.4% on Friday as ETH ETFs record another day of
The crypto market will experience $220 million worth of token unlocks next week. ARB, APT, SAND, and STRK lead the unlocks with over $180 million combined unlocks. CYBER, ENA, and RENDER will see further unlocks, adding to previous hikes in their circulating supply. Token unlocks data on Friday reveals that the crypto market will see
Bitcoin’s MVRV moving below its 365-day moving average indicates potential for further decline or start of a bear market. BTC short-term holders took in 97% of losses realized during Monday’s market crash. Stablecoin exchange netflow has risen close to $2 billion in past four days, meaning investors may be buying the dip heavily. The Federal
Gold advances for the second day on Friday, buoyed by expectations of Fed easing in September. US economic data shows deceleration but not enough to stoke recession fears. Ongoing Middle East tensions between Israel, Lebanon and Iran keep Gold demand firm. Gold prices advanced modestly for the second straight day as market participants remain convinced
The AUD/JPY pair declined to 96.45 on Friday resuming the losses after three sessions with gains. However, technical indicators suggest a shift towards neutral territory, with the RSI moving out of the oversold zone and the MACD showing decreasing red bars. The cross will close a weekly gain of nearly 1% despite the losses. In
AUD/USD slightly retreats, settling near 0.6575 on Friday. RBA reiterates its hawkish stance, contributing to a buoyant AUD. Investors digest Chinese inflation reported during the European session. The AUD/USD pair witnessed a minor setback at 0.6575 during Friday’s session, a modest descent of 0.30%. That being said, the Reserve Bank of Australia’s (RBA) unwavering hawkish
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