USD/JPY pulls back after markets’ risk-off tone generates safe-haven demand, benefiting the Yen. The BoJ might be considering reducing bond purchases at its June meeting according to rumors reported by Bloomberg. Such a move would raise … [Continue reading]
WTI extends its losing streak as OPEC+ communicates ease in Oil production cuts
The Oil price fell to $72.50 as OPEC+ plans to shore up the market. Weak US factory PMI raise concerns over the Oil demand outlook. Investors await the US NFP data for fresh guidance. West Texas Intermediate (WTI), futures on NYMEX, fall … [Continue reading]
USD/INR gathers strength, all eyes on 2024 India’s election results
Most recent article: Stock Market Today: Nifty tanks 4%, with India’s election vote count underway Indian Rupee trades with negative bias on Tuesday. The uncertainty surrounding India's general election results and key US data … [Continue reading]
WTI drops below $74.00 as OPEC+ plans to ease Oil production cuts
WTI price lost ground as OPEC+ intends to phase out production cuts of 2.2 million barrels per day over 2025. The US is purchasing an additional 3 million barrels of Oil for the country's Strategic Petroleum Reserve. Oil prices may struggle further … [Continue reading]
Mexican Peso sinks as investors fear Morena’s congressional majority
Mexican Peso falls sharply after Dr. Claudia Sheinbaum’s victory and Morena’s majority in Congress. Concerns rise over potential constitutional changes and market stability, impacting investor sentiment toward the Peso. Sheinbaum pledges to maintain … [Continue reading]
Gold rebounds after US Manufacturing ISM data shows contraction in May
Gold recovers from three-week lows after negative US ISM Manufacturing data and fall in US yields. Asian demand and cooling inflation expectations further support Gold's bounce. Technicals remain bearish after a breakout from a Bear … [Continue reading]
US Dollar steadies as traders brace for data-packed week
The US Dollar trades mixed against its major peers on Monday. Markets are in a positive tone after a quiet weekend on the geopolitical front. The US Dollar Index trades in the mid-104.00 region, looking for direction. The US Dollar … [Continue reading]
Forex Today: Busy first week of June kickstarts with PMI data
Here is what you need to know on Monday, June 3: Following the previous week's choppy action, financial markets remain subdued on the first trading day of June. S&P Global will release revisions to May Manufacturing PMI data for Germany, the … [Continue reading]
USD/INR loses traction ahead of Indian/US PMI data
Most recent article: 2024 Indian election: Continuity expected as Modi looks set to win third term Indian Rupee rebounds on Monday on the softer USD. The success of Narendra Modi's (BJP) third-term election might boost the INR. The … [Continue reading]
Bitcoin sets the stage for a potential “destruction of fiat currency“
Bitcoin price action against the US Money Stock is similar to the 1970s Stagflation Era, according to Peter Brandt's recent tweet. Brandt's post suggests that the end of this consolidation could see BTC ascend rapidly. The veteran trader suggests … [Continue reading]