Share: Silver struggles to capitalize on the overnight goodish rebound from the $24.50 support zone. The technical setup seems tilted in favour of bulls and supports prospects for additional gains. A convincing break below the $24.40-30 … [Continue reading]
S&P500 Futures ignore Wall Street’s gains, yields dribble ahead of Fed’s favorite inflation
Share: Market sentiment remains sluggish after an upbeat day as traders await the key US data. S&P500 Futures lack clear directions after rising the most in six weeks the previous day. US Treasury bond yields grind higher as US GDP growth … [Continue reading]
Ripple finds new ally in its fight against SEC as Coinbase files lawsuit against the regulatory body
Share: Ripple noted a 34% growth in its DEX volumes and a 46% increase in the centralized exchanges' activity. Coinbase, on April 27, responded to the SEC's Wells notice stating they are willing to defend themselves. The Ripple community saw this … [Continue reading]
Silver Price Analysis: XAG/USD falls but remains capped by the 20-DMA at $24.70
Share: Silver price continues to trade below the $25.00 figure as support takes hold around $24.80. XAG/USD has been trading sideways, bracing around the 20-day EMA at $24.70 for the last three days. Silver price trends downwards for the third … [Continue reading]
EUR/USD challenges 1.1000 post-US GDP figures
Share: EUR/USD recedes to the vicinity of the key 1.1000 mark. EMU Consumer Confidence came in at -17.5 in April. US Flash GDP disappointed expectations in Q1. EUR/USD fades the initial upbeat mood and retreats to the boundaries of 1.1000 the … [Continue reading]
Russia’s Novak: OPEC+ sees no need for further oil output cuts
Share: Russian Deputy Prime Minister Alexander Novak said on Wednesday, “OPEC and its allies (OPEC+) sees no need for further oil output cuts despite lower than expected Chinese demand.” Additional takeaways The global oil market is balanced. OPEC+ … [Continue reading]
USD/INR Price News: Defends downside near 81.70, investors brace volatility ahead of US GDP
Share: USD/INR is hovering near a 10-day low of 81.65 as weaker oil prices have supported the Indian rupee. The USD Index has gradually corrected amid an improvement in market sentiment. Lower US GDP data will strengthen the case for neutral … [Continue reading]
US Dollar Index: DXY retreats towards 101.00 despite banking sector fears, focus on US Q1 GDP
Share: US Dollar Index fades late Wednesday’s corrective bounce off the lowest level in a fortnight. Passage of initial hurdle for US debt ceiling extension, First Republic Bank-induced banking sector woes fail to impress DXY bulls. Greenback … [Continue reading]
Monero price forecast as XMR readies for a 55% breakout, buy now?
Share: Monero price is attempting a bullish breakout from a continuation chart pattern. XMR could rise 55% to record a new all-time high at $251.7, but investors should wait for confirmation above $163.9. Santiment’s social metric shows a 20% … [Continue reading]
Euro makes new 2023 highs as market sentiment improves
Share: Euro vs US Dollar makes a new 2023 yearly high after an upbeat Wall Street opens and the US Dollar sell-off continues. Stronger tech company earnings from Alphabet and Microsoft suggest advertising revenue remains high offsetting … [Continue reading]