AUD/JPY moderates, hovering steadily above the 108.00 mark, wrapping up a week with a 1% gain. Buyers are taking a breather and keeping the cross in cycle highs. A healthy correction shouldn’t be taken off the table. In the trading session of … [Continue reading]
Canadian Dollar falls apart on Friday after Canadian jobs data misses the mark
Canadian Dollar backslides across the board after net jobs contract. Canada printed the second net negative jobs figure in 2024. Losses limited against the Greenback after sharp revisions to US NFP. The Canadian Dollar broadly soured on Friday, … [Continue reading]
XRP drops to $0.40 as Ripple and altcoins are hit by marketwide correction
Bitcoin price drop under support at $55,000 ushered a market-wide correction in top altcoins, including XRP. Ripple erased all gains from the past fifteen months and hit $0.40 early on Friday. XRP extended losses by 7%, down to $0.38 on … [Continue reading]
Gold continues to rally as investors foresee lower interest rates on the horizon
Gold extends its positive run as the probability of the Federal Reserve lowering interest rates increases. A run of weak data from the US indicates inflationary pressures are waning, and interest rates could fall. The US Dollar weakens, … [Continue reading]
EUR/USD Price Analysis: Moves above 1.0800; next barrier at upper boundary of the channel
EUR/USD may test the upper boundary of the ascending channel around the level of 1.0870. The 14-day RSI suggests a confirmation of a bullish trend for the pair. The pair could find key support around the nine-day EMA at the 1.0766 level. EUR/USD … [Continue reading]
Ethereum breaches key support as SEC delays ETF decision
SEC delays decision on Ethereum ETF S-1 drafts as analysts shifted their potential launch date again. Ethereum whale risks liquidation if ETH declines to $2,984. Ethereum breaches key support amid key insight from CME open interest. Ethereum is down … [Continue reading]
Gold price consolidates amid choppy trading ahead US NFP
Gold prices edge up 0.15% amid thin trading on US Independence Day. XAU/USD reached a two-week high of $2,365 Wednesday, driven by weak US jobs data and heightened Fed rate cut expectations. Traders shift focus to Friday's Nonfarm Payrolls report, … [Continue reading]
GBP/USD Price Analysis: Trends up, faces strong resistance at 1.2770
GBP/USD rises to 1.2757, up 0.14%, during UK general elections. Resistance at 1.2760/77, where 61.8% Fibonacci and trendlines converge. If surpassed, next targets: 1.2800 and YTD high at 1.2894. Support levels: 1.2736 (50% Fibonacci), 1.2700, … [Continue reading]
Federal Reserve still waits for economy slowdown – UBS
US markets are closed as the country celebrates its attempt to escape rule by a monarch. There has been media speculation about US President Biden’s candidacy for re-election. Markets are not likely to react to such speculation at this stage. … [Continue reading]
German Factory Orders drop 1.6% MoM in May vs. 0.5% expected
Germany’s Factory Orders unexpectedly fell in May, according to the official data published by the Federal Statistics Office on Thursday, suggesting that the German manufacturing sector recovery is in the doldrums. Over the month, contracts for goods … [Continue reading]