Gold reaches record $2,431, then pulls back amid stronger US Dollar and reduced inflation concerns. Geopolitical tensions between Iran-Israel spark market volatility, initially raising demand for safe havens. Fed officials' comments boost the US … [Continue reading]
Dow Jones Industrial Average dives further with banks and chipmakers suffering
Dow Jones index drops for fourth session this week, on track to post nearly 4.5% reversal from late March highs near 40,000. JPMorgan leads losses as quarterly earnings failed to meet expectations. News that China has told tech firms to phase … [Continue reading]
ECB gave some strong hints that a June cut is forthcoming – Rabobank
Reviewing the European Central Bank's (ECB) monetary policy announcements following the April meeting, Rabobank analysts noted that the ECB gave some strong hints that there will be a reduction in the policy rate in June. ECB is now more concerned of … [Continue reading]
GBP/USD Forecast: Sellers could take action if 1.2500 support fails
GBP/USD touched its lowest level since December near 1.2500 on Friday. The technical outlook suggests that the bearish bias stays intact. BoE-ECB policy divergence could help Pound Sterling limit its losses. After posting small gains on … [Continue reading]
Gold Price Forecast: Focus on weekly close above $2,400 amid heightened geopolitical tensions
Gold price records another historic level just shy of $2,400 early Friday. US Dollar consolidates with US Treasury bond yields, as a Fed rate cut is now priced for September. Middle East Geopolitical tensions will keep refueling Gold buyers even as … [Continue reading]
Fed should be able to cut rates by end 2024, IMF managing director says
The Federal Reserve (Fed) should be able to start cutting interest rates by the end of 2024, according to Kristalina Georgieva, managing director of the International Monetary Fund. Key quotes “We remain on our projection that we would see, by the … [Continue reading]
Mexican Peso remains stable against US Dollar after US inflation report
Mexican Peso trims some weekly losses as USD/MXN stays virtually unchanged. Mexico's Industrial Production contracts, underscoring economic challenges, while US producer prices suggest softening inflation. Fed officials' comments on inflation and … [Continue reading]
Gold price holds strength despite investors see only two rate cuts from Fed this year
Gold price rebounds due to increasing geopolitical tensions and physical Gold buying by global central banks. Investors expect that the Fed will keep interest rates at current levels until the third quarter of this year. US core PPI grew … [Continue reading]
Is Bitcoin sucking liquidity from altcoins, or will alt season begin again?
Bitcoin price continues its sideways movement around the $70,000 psychological level. Bitcoin dominance is increasing ahead of the fourth BTC halving. Capital rotation due to the interest rates being higher for longer could push capital to … [Continue reading]
EUR/USD Price Analysis: The key support level is seen around 1.0730, oversold RSI condition eyed
EUR/USD attracts some sellers near 1.0745 on the firmer USD on Thursday. The pair resumes its bearish stance below the key EMA, with an oversold RSI condition. The key support level is seen at the 1.0725–1.0730 zone; the first upside target is … [Continue reading]