Silver struggles to maintain momentum, hovering near the 100-day SMA at $30.34 with a downward bias. Potential further decline could see silver test key supports at $30.00 and the 200-day SMA at $28.63. A rebound above $31.00 could challenge higher resistances, targeting the 50-day SMA at $31.51 and beyond. Silver’s price fell over 0.70% beneath
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The USD retreated on Friday after hitting yearly highs near 106.60. The market has responded to Fed Chair Powell’s comments with odds of a December cut falling to 60%. Retail Sales expanded by 0.4% in October vs. the previous month, surpassing expectations. The US Dollar Index (DXY), which measures the value of the USD against
Ethereum price today: $3,090 Ethereum’s rising exchange reserve and decreasing on-chain activity are potentially responsible for its recent price decline. Ethereum ETFs halted their inflow streak after recording outflows of $3.2 million. Ethereum could rally 60% if it validates the inverted head and shoulders pattern by bouncing off the $2,817 support level. Ethereum (ETH) is
US equities are making new lows but bonds have turned around. Ten-year Treasury yields touched the highest since May earlier today at 4.50% but have since turned around and are now down 1.6 bps on the day to 4.40%. US 10s, hourly That’s a solid rejection but the next hurdle is yesterday’s low. A drop
Until today, USD/JPY had rallied every day this week in impressive fashion. However after some tough talk from the finance minister today, there is some heavy selling. The pair is now down 201 pips to 154.23 as it’s now cut through Wednesday’s low. USD/JPY daily chart I hesitate to put too much of the blame
Federal Reserve Chairman Jerome Powell surprised with a hawkish shift in tone. Eurozone growth-related figures will take centre stage ahead of the next ECB meeting. EUR/USD at risk of falling through 1.0400 as sellers won’t give up. The EUR/USD pair fell for a second consecutive week, bottoming at 1.0495 on Thursday, its lowest in over
Is this where the train stops for the dollar? The post-election run higher has been without much pause but finally we might be getting that today. The greenback is down across the board, retracing just a slight bit of the gains from this week. USD/JPY is the biggest loser, down 0.6% to 155.33 currently. However,
The Japanese Yen appreciates as the US Dollar corrects downwards ahead of Retail Sales data. Japan’s GDP annualized growth for Q3 was 0.9%, slowing down from the 2.2% growth recorded in Q2. Japan’s Kato stated that he would take appropriate action to address excessive fluctuations in foreign exchange rates. The Japanese Yen (JPY) gains ground
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
EUR/USD continues to decline as the Euro deflates. Fiber found a 57-week low as the Greenback continues to climb. US Retail Sales in the barrel for Friday will wrap up the economic calendar. EUR/USD briefly tested fresh year-long lows on Thursday, piercing the 1.0500 handle for the first time in 54 weeks. A lack of
The US dollar is higher across the board and risk assets are struggling after a hawkish turn from the Fed Chair. Speaking in Dallas, FOMC leader Jerome Powell hinted that rates might not be cut in December. “The economy is not sending any signals that we need to be in a hurry to lower rates.
Gold trades substantially lower due to pressure from US political factors. It has weakened nearly 7.0% in November so far as a result of Donald Trump and the Republican’s political gains. XAU/USD breaks through a major trendline and declines to the 100-day SMA. Gold (XAU/USD) is trading down almost 7.0% from its peak, so far in
All aboard now. The dollar train is marching forward on the session, stretching gains across the board. The post-election momentum continues to play out and it’s still not the time to be guessing the top just yet. EUR/USD is now down 0.5% to 1.0508 as it corroborates with the inevitable pull towards 1.0500. EUR/USD daily
FX option expiries for Nov 14 NY cut at 10:00 Eastern Time via DTCC can be found below. EUR/USD: EUR amounts 1.0550 1.1b 1.0600 1.4b 1.0650 2.5b 1.0750 1.7b 1.0850 1.3b GBP/USD: GBP amounts 1.2665 438m 1.3080 576m USD/JPY: USD amounts 154.50 884m 155.00 593m 156.50 596m USD/CHF: USD amounts 0.8660 600m AUD/USD: AUD amounts 0.6500 479m
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 Australian Unemployment Rate is foreseen stable at 4.1% in October. Employment Change is expected at 25K, much lower than the 51.6K posted in September. AUD/USD is under pressure and may soon pierce the 0.6500 mark. The Australian Bureau of Statistics (ABS) will release the October monthly employment report at 00:30 GMT on Thursday. The
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 US Dollar jumps on the back of hawkish Fed comments. Dallas Fed President Logan issues cautious approach for December rate cut becoming an uncertainty. The US Dollar index trades above 106.00, at a fresh six-month high. The US Dollar (USD) is picking up steam again after comments from Federal Reserve Bank of Dallas President
For some context, these subsidies did come to an end in May but were reinstated in August through to October to cope with the warmer weather. Subsequently, they were continued until this year-end but the funds had to be drawn from reserves in the budget for the fiscal year that started in April. NHK is
USD/CHF extends its upside to near 0.8830 in Wednesday’s early European session. The US October CPI inflation data will take center stage on Wednesday. The uncertainty surrounding Trump’s policy and geopolitical risks might cap the pair’s upside. The USD/CHF pair trades in positive territory for the fourth consecutive day around 0.8830 during the early European
Japan’s Seven & i Holdings is considering a management buyout to take itself private with funding from banks, Itochu Corp. and the founding Ito family in a transaction that could be worth US$58 billion “People with knowledge of the matter” cited in the reports via Nikkei and Bloomberg. The Japanese owner of 7-Eleven is considering
Ripple’s XRP has risen nearly 20% following a 75% growth in its futures open interest. Options traders could defend the $0.72 level as a large pool of call options is concentrated on that price. XRP could rally nearly 50% if it breaks above the neckline resistance of an inverted head and shoulders pattern. Ripple’s XRP rallied
USDCHF daily BofA suggests staying short on CHF, particularly against USD and GBP, as post-election volatility subsides and G10 rate repricing supports a weaker CHF. While political risks may pose a minor obstacle, BofA sees CHF depreciation as likely due to policy divergence, with recent fiscal stimulus in the UK reinforcing the case for long
Bitcoin price today: $86,000 Bitcoin corrects after reaching a new all-time high above $89,900 on Tuesday. Technical indicators suggest the ongoing rally is overstretched and could have a corrective pullback in BTC. On-chain data further supports a healthy correction as some holders realize profits at tops and leverage rises to a yearly high. Bitcoin (BTC)
The NFIB Small Business Optimism Index rose by 2.2 points in October to 93.7. This is the 34th consecutive month below the 50-year average of 98. The Uncertainty Index rose seven points to 110, the highest reading recorded. A seasonally adjusted net negative 20% of small business owners reported higher nominal sales in the past
The Indian Rupee edges lower in Tuesday’s early European session. Sustained outflows from local equities weigh on the INR. Investors will monitor India’s October Consumer Price Index (CPI) and Fedspeak on Tuesday. The Indian Rupee (INR) remains weak near an all-time low on Tuesday. The downward pressure for the local currency is pressured by persistent
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
Eurozone’s thin economic docket and German bond yield dip contribute to EUR’s decline. Upcoming Aussie data includes Westpac Consumer Confidence and NAB Business Confidence. EUR/AUD technicals suggest potential further downside with key support near 1.6100. The Euro began the week on a lower note against the Australian Dollar, drops over 0.45% late during the North
Four years ago I wrote about: Why Joe Biden could be the most-bullish US President for oil in history. He was. Between his election and today, the price of crude nearly doubled. Shares of the XLE oil company ETF more than tripled. Of course, my case wasn’t really about Biden, it was more about the
The Mexican Peso weakens on rumors Donald Trump has offered the job of trade representative to Robert Lighthizer. The former US trade rep is known for his protectionist stance and could squeeze Mexico in future talks. The Peso is further weighed by concerns the Republicans will win a majority in Congress, giving them a “clean