Share: Bitcoin price has historically breached the macro downtrend between 365 to 397 days before a halving. The next Bitcoin halving is scheduled for April 2023, which stands to be within the expected range of the breakout. On the micro-scale, BTC … [Continue reading]
Gold Price Forecast: XAU/USD gains more than 3%, approaches $2,000
Share: Gold price surged on Friday, extending weekly gains to over $100. New context of lower yields and banking jitters boost gold’s demand. XAU/USD eye best week in years. Gold price moved further to the upside during the … [Continue reading]
CAD likely to find it difficult to hold its ground against the USD – Commerzbank
Share: In a risk-averse environment, the Canadian Dollar is likely to find it difficult to hold its ground against the US Dollar, in the opinion of economists at Commerzbank. Limited CAD recovery potential against the USD “The jitters on the … [Continue reading]
Dollar to remain on a weaker footing if Fed pursues continued rate hikes – MUFG
Share: US Dollar struggles to find demand. Economists at MUFG Bank expect the greenback to remain under pressure if the Federal Reserve hikes by 25 basis points next week. A 25 bps hike next week is priced at about an 80% probability “Essentially, … [Continue reading]
EUR/USD Price Analysis: Northward road looks bumpy despite bulls holding above 1.0600
Share: EUR/USD refresh intraday high during two-day uptrend, consolidates Wednesday’s big losses. Sustained break of 200-HMA, two-day-old bullish channel keeps buyers hopeful. Nearly overbought RSI conditions, sluggish MACD signals prod … [Continue reading]
EUR/GBP steadies around 0.8760 level amid uncertainECB’s rate hike trajectory
Share: EUR/GBP trades listlessly on ECB’s blurred rate hike path amid global banking turmoil. Liquidity crisis and policy uncertainty left Euro with mixed reactions. Market awaits UK CPI and BoE Interest Rate decision next week. EUR/GBP is … [Continue reading]
Forex Today: Unexpected consolidation, DXY drops as risk sentiment improves
Share: Here is what you need to know on Friday, March 17: The stock market stole volatility on Thursday. Wall Street indexes opened in the red to finish in the green with a gain of more than 1%. The Nasdaq led with a rally of 2.48%. Systemic risk … [Continue reading]
ECB agreed to go ahead with 50 bps hike after SNB threw lifeline to Credit Suisse – Reuters
Share: Citing three sources familiar with the matter, Reuters reported on Thursday that European Central Bank (ECB) policymakers agreed to go ahead with a 50 basis points increase in key rates after the Swiss National Bank (SNB) "threw a lifeline" … [Continue reading]
USD Index Price Analysis: Decent contention emerges at 103.50
Share: DXY surrenders part of Wednesday’s sharp uptick north of 105.00. The March low near 103.50 should hold the downside so far. DXY gives away some of Wednesday’s sharp gains and retreats to the 104.50 region on Thursday. If bulls regain the … [Continue reading]
USD/CNY: Yuan will continue to appreciate this year, but at a mild pace – Commerzbank
Share: Economists at Commerzbank forecast CNY to appreciate mildly this year due to the tailwinds from Covid reopening. Risks to growth and CNY remain significant “Due to the Covid reopening and in anticipation of a weaker dollar later this year, we … [Continue reading]