Gold price trades with a negative bias for the second successive day on Wednesday. The downside seems limited as traders await more cues about the Fed’s rate-cut path. Hence, the focus remains glued to the release of the FOMC meeting minutes later … [Continue reading]
Crypto community blasts Polkadot following report of treasury spending
Polkadot reports $87 million of treasury spending during H1. Crypto community members expressed harsh feelings toward the DOT team's high spending. DOT is up more than 2% in the past 24 hours but risks correction following the report. Polkadot … [Continue reading]
US Dollar weakens as markets detect a dovish tone on Powell’s words
US Dollar sees minor losses amid Jerome Powell's disinflation forecasts. JOLTs figure from June came in higher than expected. Expectations of interest rate cut in September remain steady ahead of key NFPs on Friday. On Tuesday, the US Dollar, as per … [Continue reading]
Breaking: Fed Chair Powell says disinflation trend shows signs of resuming
Federal Reserve (Fed) Chairman Jerome Powell and European Central Bank (ECB) President Christine Lagarde discuss monetary policy outlook at the ECB Forum on Central Banking in Sintra. [embedded content] Fed Chairman Powell comments at ECB Forum … [Continue reading]
Silver Price Forecast: XAG/USD remains below $29.50 due to improved US Dollar, yields
Silver price depreciates as US Dollar improves due to higher yields. The non-yielding Silver may rebound as recent US inflation data raised the expectations of the Fed reducing rates in 2024. Demand uncertainties in China, the largest consumer of … [Continue reading]
Gold price languishes near daily low amid modest USD strength, ahead of Powell’s speech
Gold price meets with a fresh supply on Tuesday amid some follow-through USD buying. Rising bets for a September Fed rate cut should limit any further losses for the XAU/USD. Fed Chair Powell’s speech eyed for some impetus ahead of FOMC minutes on … [Continue reading]
Meme coin popularity sends Solana’s economic value to new all-time high
Increased growth in Pump.fun and recently launched Moonshot are partly catapulting growth in Solana. Solana's Pump.fun has helped launch over 1.18 million meme coins in six months. Social data shows WIF could see more upside despite recent gains. … [Continue reading]
Gold price steady as market awaits busy US weekly schedule
Gold remains steady unaffected by rising US Dollar and Treasury yields. Mixed US manufacturing data: S&P PMI expands, ISM PMI contracts for third consecutive month. US 10-year Treasury yield climbs nearly 9 bps to 4.489%, bolstering Dollar's … [Continue reading]
GBP/USD Price Analysis: Erases gains as bears move in post-weak US data
GBP/USD falls as concerns of potential US recession weigh on markets. Technicals suggest neutral to downward bias, marked by lower highs and lows. Support levels: 1.2600 (daily MAs), 1.2560 (200-DMA), 1.2500, 1.2445 (May 9 low), 1.2299 (YTD low). … [Continue reading]
AUD/USD approaches 0.6700 modestly as Fed rate-cut prospects improve
AUD/USD inches toward 0.6700 as the US Dollar is under pressure. Soft US inflation in May has prompted Fed rate-cut hopes. The RBA could tighten its monetary policy further as price pressures accelerated in May. The AUD/USD pair marches toward the … [Continue reading]