Cardano based stablecoin USDA will go live in 2023, according to an announcement by Emurgo, one of the developers of ADA. The new stablecoin USDA will be backed by fiat assets to merge the benefits of Cardano ecosystem with the stability of the … [Continue reading]
AUDUSD supported around 0.6640s below the 100-DMA, to record minimal weekly losses
The Australian Dollar would finish the week with losses of 0.50%. Existing Home Sales in the United States tanked sharply, though they were ignored as the US Dollar remained strong. AUDUSD Price Analysis: The inverted head-and-shoulders is still in … [Continue reading]
Gold Price Forecast: Another leg of short covering in XAUUSD is expected – TDS
Gold seems poised to end in the red for the first time in three weeks. Strategists at TD Securities expect another leg of short covering in the yellow metal. Next major buying program rests just north of $1,815 “Another leg of short covering in gold … [Continue reading]
EURUSD Forecast: Euro could extend correction toward 1.0250
EURUSD has been fluctuating in a tight range since the beginning of the week. Near-term technical outlook points to a loss of bullish momentum. ECB President Christine Lagarde's comments failed to help the Euro. EURUSD has been struggling to make a … [Continue reading]
USDCAD defends 1.3300 to snap four-week downtrend, even as oil rebounds
USDCAD prints mild losses on a day but stays on the way to first weekly gain in five. US Dollar’s pullback amid sluggish session triggered recovery in oil prices despite looming fears over China’s demand. Hawkish Fedspeak keeps buyers hopeful ahead … [Continue reading]
USDJPY stays firmer past 140.00 despite strong Japan inflation as US Treasury yields bounce off six-week low
USDJPY prints three-day uptrend, braces for the first weekly gain in five. Japan’s National CPI ex-Food rose the fastest since 1982. US 10-year Treasury yields rebound from six-week low on hawkish Fedspeak. Dicey markets, the light calendar can … [Continue reading]
Forex Today: Dollar still on the backfoot despite a tepid mood
What you need to take care of on Friday, November 18: The market mood remained sour, which help the US Dollar to recover some of the ground lost earlier in the week. Nevertheless, the greenback posted uneven and modest advances across the FX board, … [Continue reading]
EURSEK: Return to 10.00 or below requires a significant improvement in European sentiment – ING
In the view of economists at ING, the Swedish Krona may struggle to enter a sustained uptrend next year given its elevated exposure to the eurozone’s growth story. Eurozone exposure a drag on SEK “We see some room for EURSEK to move lower throughout … [Continue reading]
USDCAD sticks to gains near weekly high amid weaker oil prices, modest USD strength
USDCAD gains traction for the second straight day and is supported by a combination of factors. Weaker oil prices undermine the Loonie and act as a tailwind amid a pickup in the USD demand. Traders now look forward to the US macroeconomic releases … [Continue reading]
Asia FX bears ease on hopes of less hawkish Fed, China reopening – Reuters poll
Short bets on major Asian currencies were scaled back amid hopes the region's economic outlook would benefit from China easing its COVID-19 restrictions and that the Federal Reserve would temper its rate hikes, a Reuters poll showed on … [Continue reading]