Share: GBP/USD remains sidelined after rising the most in seven weeks. UK PM Sunak manages to strike all-around acceptability with latest Brexit deal. Sluggish oscillators probe traders around previous resistance line. Key DMAs, support line … [Continue reading]
AUD/USD faces barricades around 0.6750 ahead of Australian GDP and US PMI data
Share: AUD/USD has sensed heat in stretching its recovery above 0.6750 as the risk appetite theme has not strengthened enough. A decline in the monthly inflationary pressures will provide relief to the RBA. The contraction in the US Manufacturing … [Continue reading]
Gold Price Forecast: Sellers maintain the pressure
Share: XAU/USD Current price: $1,814.02 Discouraging US data and persistent inflationary pressures weigh on the market mood. Wall Street started the day with optimism but already trimmed most of its early gains. XAU/USD is bearish in the near term … [Continue reading]
NZD/USD remains depressed below mid-0.6100s, lowest since November ahead of US data
Share: NZD/USD continues losing ground on Monday and drops to its lowest level since November. A modest recovery in the risk sentiment undermines the USD and lends support to the pair. Hawkish Fed expectations, elevated US bond yields support … [Continue reading]
EUR/USD could trade down to 1.0460 – ING
Share: EUR/USD lost more than 100 pips last week. Dollar strength is set to keep the pair heavy, economists at ING report. Like the Fed, the ECB remains very much in hawkish mode “Investors fully subscribe to the ECB's message of a 50 bps hike … [Continue reading]
NZD/USD refreshes three-month low below 0.6150 as US consumer spending fuels hawkish Fed bets
Share: NZD/USD has printed a fresh three-month low at 0.6150 amid the risk-off market mood. Federal Reserve looks set to push interest rates above 5% to contain sticky inflation. Reserve Bank of New Zealand Conway sees the terminal rate at 5.50% as … [Continue reading]
US Dollar Index: Hawkish Fed concerns keep DXY bulls hopeful
Share: US Dollar Index pares the biggest weekly gain since September 2022 at seven-week high. Strong inflation-linked data underpin hawkish Fed bias to propel DXY run-up. Geopolitical fears add strength to the US Dollar’s haven demand. US PMIs, … [Continue reading]
Gold, the Chart of the Week: XAU/USD bulls lurking with eyes on trendline resistance
Share: Gold is running into a support zone that leaves upside corrections in focus for the initial balance of the week. The US Dollar is up high which also leaves a corrective bias for Gold price. Gold price ended lower for … [Continue reading]
Everything you need to know about Ethereum’s Shanghai hard fork and why it matters
Share: Ethereum’s Shanghai hard fork set in March will address tokens staked in the ETH 2.0 deposit contract and gas fees for developers. The Shapella hard fork, a combination of Shanghai and Capella execution and consensus layer forks will … [Continue reading]
Chainlink price prediction: Here’s why LINK is gearing up for a 10% price rally
Share: Chainlink price shows signs of recovery from its recent decline after dropping from the $8.28 level. A climb above the three Exponential Moving Averages will validate LINK's bullish thesis, flipping the resistance at $7.41 into … [Continue reading]