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
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Gold prices inched lower on Tuesday after falling more than 1% in the previous session, weighed down by an uptick in the U.S. dollar and worries over further U.S. interest rate hikes. FUNDAMENTALS * Spot gold was down 0.1% at $1,777.46 per ounce, as of 0054 GMT, after hitting its lowest since Aug. 8 at
Commodity currencies soften mildly in Asian session today, following weaker than expected economic data from China. On the other hand, Yen is leading Dollar and Swiss Franc higher. Euro and Sterling are mixed for now. Overall sentiment is mixed, with notable gains in Nikkei but other Asian indexes are sluggish. Gold is still struggling to
Construction workers outside the Marriner S. Eccles Federal Reserve Building, photographed on Wednesday, July 27, 2022 in Washington, DC. Kent Nishimura | Los Angeles Times | Getty Images The Federal Reserve’s path to bringing down runaway inflation while keeping the economy from slipping into a major downturn is still open but is getting narrower, according
US Dollar Index steadies around weekly top, prints three-day uptrend. Growth concerns, Fedspeak challenge market sentiment amid a sluggish session. Second-tier US data, risk catalysts to entertain traders ahead of Wednesday’s FOMC Minutes. US Dollar Index (DXY) rises for the third consecutive day while picking bids to 106.58 during Tuesday’s Asian session. In doing so,
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EURUSD falls below its 200 hour moving average The EURUSD moved below its 100 hour moving average on Friday. In the process, the pair moved back into the up and down trading range that confined the pair from around July 18 to August 10 when the pair broke higher (see red box in the chart
WTI crude oil is down $4.80 to $87.73 today and a big reason why is speculation that the Iran nuclear deal could be revived. European circulated a draft deal last week, calling it the ‘final’ deal and framing it as take-it-or-leave-it. I get the sense that Iran isn’t done negotiating as it wants guarantees that
London: Oil prices fell by more than $3 a barrel on Monday on concerns over demand in China, the world’s largest crude importer, and ahead of Iran’s response to a nuclear deal proposal which could raise the country’s oil exports. Brent crude futures fell $3.49, or 3.56%, to $94.66 a barrel by 0945 GMT after
Negative sentiment started earlier in the day following weak economic data from China, and spread particular serious to some commodities like oil and copper. Aussie is currently leading New Zealand and Canadian Dollar down. Yen is trading generally higher, taking Dollar and Swiss Franc up. Meanwhile, Euro and Sterling continue to trade mixed. Technically, the
An employee looks on at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019. Maxim Shemetov | Reuters Saudi oil giant Aramco reported a stunning 90% surge in second quarter net income and record half year results on Sunday, as high oil prices continue to drive historic windfalls for “Big Oil.” Aramco said
Chinese economic slowdown exacerbates the case of slowing oil demand. Market players keep an eye on nuclear discussions between the US and Iran. WTI trades near the August low at $86.99 and with a firmly bearish technical stance. Crude oil prices are in free fall at the beginning of the week, with the barrel of
Polygon’s vice president of global business development for gaming, Urvit Goel, believes games that integrate nonfungible tokens (NFTs) have a natural edge on traditional games that don’t allow users to sell their in-game items. Goel spoke candidly with Cointelegraph in Seoul last week about Polygon’s push toward helping NFT games proliferate and why game publishers
USDCAD retests the 100 day MA and finds sellers on the test The USDCAD has to a new session high and in the process is retesting its broken at 100 day moving average near 1.27968. The high price just reached 1.27986, just above the moving average level Recall on Wednesday, the price fell below that
The Australian dollar, as a ‘China proxy’ trade, can get a boost from bad data out of China, on the basis that there will be more stimulus forthcoming. That is not the case right now. The data from China was terrible, the jobless rate amongst the young is particularly worrying: China July Industrial Production 3.8%
Oil prices rose by over 1% on Thursday after the International Energy Agency raised its oil demand growth forecast for this year as soaring natural gas prices lead some consumers to switch to oil. Brent crude futures gained $1.29, or 1.3%, to $98.69 a barrel by 1348 GMT, while U.S. West Texas Intermediate crude futures