Share: Senior ETF analyst at Bloomberg Intelligence predicts crypto exchanges like Coinbase could suffer when the SEC finally approves spot bitcoin ETFs. According to Eric Balchunas, an approval will threaten exchanges’ business on metrics of cost, … [Continue reading]
WTI hits YTD high of $85.57 amid supply cuts and strong demand
Share: Saudi Arabia expected to extend its 1 million bpd output cut into October. Russia agrees with OPEC to cut exports next month. Positive business activity reports from China improve the oil demand outlook. US unemployment rate rises, wage … [Continue reading]
NZD/USD clears daily gains following US data
Share: NZD/USD peaked at a daily high of 0.6015 and then plummeted to 0.5940. US NFPs from August showed a mixed picture, while the Manufacturing PMIs from the same month came in better than expected. The USD holds its ground despite investors … [Continue reading]
EUR/USD reverse course after US PMIs and loses 200-day SMA
Share: After initially rising to 1.0880, the EUR/USD declines to 1.0785, below the 200-day SMA at 1.0815. Manufacturing PMIs from the US showed better-than-expected results. The US DXY index and Treasury yields significantly recovered … [Continue reading]
EUR/JPY Price Analysis: Correction could extend below 157.00
Share: EUR/JPY adds to Thursday’s strong pullback and tests 157.30. Immediately to the downside comes the weekly low near 156.80. Further selling pressure forces EUR/JPY to add to Thursday’s losses and print multi-day lows near 157.30 on Friday. … [Continue reading]
France HCOB Manufacturing PMI below forecasts (46.4) in August: Actual (46)
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]
Gold Price Forecast: XAU/USD remains below $1,950 level as traders keenly await US NFP
Share: Gold price struggles to capitalize on its modest intraday uptick to the $1,945 area on Friday. Bets for one more rate hike by the Federal Reserve continue to act as a headwind for the metal. Investors now await the release of the US NFP … [Continue reading]
GBP/USD Price Analysis: 50-SMA defends Cable bulls below 1.2700, US NFP, BOE’s Pill eyed
Share: GBP/USD picks up bids to pare the first daily loss in four, bracing for the weekly gain. Cable bounces off 50-SMA after retreating from five-week-old resistance line. MACD signals, sustained trading below the key resistance line, 200-SMA … [Continue reading]
AUD/USD hovers around 0.6480 as US Dollar trims earlier gains, ahead of US NFP
Share: AUD/USD trades flat after falling to a daily low of 0.6461. US PCE inflation meets expectations at 3.3% YoY, while Initial Jobless Claims come below estimates, providing a brief boost to the Greenback. China’s mixed PMI data and Atlanta’s … [Continue reading]
United States Chicago Purchasing Managers’ Index above expectations (44.1) in August: Actual (48.7)
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]