Share: We were able to experience the new governor of the Bank of Japan (BoJ), Kazuo Ueda, in his new role for the first time yesterday. Everything remains unchanged. That was JPY-negative initially. Ulrich Leuchtmann, Head of FX and Commodity … [Continue reading]
Gold Price Forecast: XAU/USD set to take out key resistance at $2,007, focus shifts to US inflation
Share: Gold price rebounds toward $2,000, snapping a three-day downtrend. Risk-on sentiment and pullback in US Treasury bond yields check the US Dollar rally. Gold price defends key support, awaits Fedspeak and United States Consumer Price … [Continue reading]
Silver Price Analysis: XAG/USD bulls run out of steam, sellers need validation from $24.30
Share: Silver price stays depressed after downbeat week-start, grinds near highest levels in a year. Overbought RSI conditions, receding bullish bias of MACD signals lure bears. Failure to cross ascending resistance line from late 2022 adds … [Continue reading]
Polygon NFT marketplaces observe no growth despite network adoption rising by 337%
Share: Polygon-based NFT marketplaces, including Opensea, have noted little to no increase in trading volume in contrast to Solana and Ethereum. Despite the financialization of NFTs, Non-fungible tokens have lost traction as NFT traders continue to … [Continue reading]
United States Wholesale Inventories came in at 0.1%, below expectations (0.2%) in February
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or … [Continue reading]
USD/CAD trades with modest losses below 1.3500 amid bullish Oil prices, subdued USD
Share: USD/CAD drifts lower on Monday and is weighed down by a combination of factors. Bullish Oil prices underpin the Loonie and exert pressure amid fresh USD selling. The downside seems cushioned ahead of this week’s key central bank event … [Continue reading]
AUD/USD clings to mild losses below 0.6700 as China-inflicted risk aversion fades amid illiquid markets
Share: AUD/USD remains sidelined around intraday low amid Easter Monday holiday. China’s military drills around Taiwan propelled geopolitical woes early in Asia. Absence of escalation in military strikes, off in multiple markets tame Aussie pair’s … [Continue reading]
USD/JPY drives to 132.50 as US Employment data supports more rate hikes from Fed
Share: USD/JPY has stretched its recovery to 132.50 as the solid US labor market has backed more rate hikes from the Fed. S&P500 futures are holding nominal gains despite escalating tensions between China and Taiwan. Ex-BoJ Nakaso is hoping for … [Continue reading]
Cosmo Price Prediction: Can ATOM revert to the mean?
Share: Cosmos price bounces off the $10.90 support level, opening up the chances for a recovery rally. A mean reversion play would allow ATOM to tag the $11.42 hurdle, and in a bullish case, the range high at $11.94 would be the target. A four-hour … [Continue reading]
Arbitrum price plots quick but efficient recovery rally to $1.32
Share: Arbitrum price consolidates in a falling wedge pattern, suggesting a potential for a bullish move. A breakout from this setup forecasts a 7% upswing that could extend up to $1.32. Invalidation of the bullish thesis will occur if … [Continue reading]