The global cryptocurrency market capitalization grew by $230 billion on Friday crossing the $3.29 trillion mark. The cryptocurrency sector valuation has scored new all time highs in each of the last 5 trading days Bitcoin dominance (BTC.D) fell below … [Continue reading]
Gold closes week above $2,700, US PCE data in Focus
Gold prices rally 1.50% on Friday, boosted by a decrease in US 10-year Treasury yields to 4.40%. Escalating geopolitical concerns, including potential expansion of the Russia-Ukraine conflict, fuel demand for Bullion’s safe-haven status. US economic … [Continue reading]
Mexican Peso stages late recovery, finishes week down
Mexican Peso makes a late session recovery, supported by strong Q3 GDP figures and lower mid-month inflation. Concerns linger as Mexico’s legislative changes could impact its status in the USMCA agreement, potentially affecting trade dynamics. … [Continue reading]
US Dollar gives up gains from two year highs, closes the week strong
US Dollar Index declines below 108.00 on Friday, November 22. DXY retreats from 2-year high despite strong S&P PMI data; profit-taking and China's stimulus package contribute to pullback. Fed officials remain cautious with Barkin citing inflation … [Continue reading]
Australian Dollar softens as markets digest both Judo and S&P PMIs
Aussie dropped 0.27% to 0.6495 in Friday's trading. Mixed Judo Bank PMI data impacted the AUD, with strong manufacturing but weak service sector activity. S&P PMI data from the US came in strong. The AUD/USD declined just below 0.6500 as the … [Continue reading]
NZD/JPY Price Analysis: Pair tumbles and eyes break of 90.00-92.00 range
NZD/JPY fell 0.27% on Friday, trading near the 90.30 level. Pair tallied a 3-day losing streak and seems to be scaping the 90.00-92.00 range to the downside. RSI and MACD bearish, signaling potential further losses toward 90.00. The NZD/JPY pair has … [Continue reading]
Dow Jones Industrial Average squeezes out another 400 point gain on Friday
The Dow Jones gained another 400 points on Friday. After a brief lull, the major index is back into its post-election rally. Investors are pivoting out of the usual tech rally into consumer goods. The Dow Jones Industrial Average (DJIA) has snapped … [Continue reading]
Canadian Dollar lags on mixed Friday data prints
The Canadian Dollar treaded water to wrap up the trading week. Canada saw a slight decline in home prices, Retail Sales meet expectations. Broad-market sentiment supports the Greenback, limiting Loonie options. The Canadian Dollar (CAD) waffled into … [Continue reading]
Silver Price Forecast: XAG/USD surges above $31.00 as US yields fall
Silver rebounds to reclaim the $31.00 mark, buoyed by a drop in US Treasury yields and ongoing market dynamics. Technical landscape shows resistance at the 50-day SMA of $31.75, with potential targets extending to $32.00 and $33.00. Key support … [Continue reading]
Australian Dollar retreats as US Dollar gains momentum after S&P PMI data
Aussie dropped 0.27% to 0.6495 in Friday's trading. Mixed Judo Bank PMI data impacted the AUD, with strong manufacturing but weak service sector activity. S&P PMI data from the US came in strong. The AUD/USD declined just below 0.6500 as the … [Continue reading]