Share: USDC has integrated with Coinbase on Stellar Development Foundation, a non-profit for open-source development. The move is meant to reduce costs while delivering increased throughput or speed. It bolsters revival ambitions for USD Coin after … [Continue reading]
Gold, Chart of the Week: XAU/USD is making the case for a prolonged bullish grind
Share: As per a series of analyses, including last week's Chart of the Week, Gold, the Chart of the Week: XAU/USD is coiled and breakout eyed, and Thursday's news article, Gold Price Analysis: Bulls eye a correction, US PMIs will be key, … [Continue reading]
EUR/JPY clears daily losses amid sour market sentiment
Share: The EUR/JPY found support at a low of 155.06 and then recovered to 156.60. European and German PMIs came in weaker than expected. Soft inflation figures and monetary policy divergence weights on the Yen. Despite initial losses, the EUR/JPY … [Continue reading]
USD/CAD Price Analysis: Bulls testing bearish commitments front side of the bearish trendline
Share: USD/CAD traders await the open next week to decide on the directional bias. Bulls are in the market and correcting bearish bias. As per the prior analysis, USD/CAD Price Analysis: Bears are eyeing a continuation, but bulls … [Continue reading]
Gold Price Forecast: XAU/USD rebounds amid recession fears, slowing global economic growth
Share: Gold recovers, rising 0.69% to $1926.30, amid global recessionary fears and faltering US bond yields. A worldwide slowdown in business and manufacturing activity stokes investor concerns and drives a shift to safe assets. Market participants … [Continue reading]
USD/JPY struggles to keep auction above 143.00 as BoJ’s stealth intervention looks likely
Share: USD/JPY has shown signs of exhaustion in the upside momentum. Further upside in the USD Index is still favored as the Fed is consistently reiterating the need for more rate hikes. Reuters reported that Japan's government and the BoJ will act … [Continue reading]
USD/JPY prepares for a fresh rally above 143.50 amid risk-off mood
Share: USD/JPY is expected to extend a rally above 143.50 as market sentiment has dampened. The US Dollar Index has printed a fresh day's high at 102.70 amid sheer uncertainty in global markets. Japan’s inflation has unexpectedly softened despite … [Continue reading]
Silver Price Analysis: XAG/USD extends 200-DMA breakdown to refresh three-month low near $22.00
Share: Silver Price drops to the lowest levels in three months during five-day losing streak. Clear downside break of previous support line from mid-March, 200-DMA favor XAG/USD bears. Bearish MACD signals also suggest further downside of the … [Continue reading]
NZD/USD turns south during Powell’s testimony
Share: The NZD/USD reversed its course during the American session, falling from a high of 0.6222 to 0.6180. The US reported mixed mid-tier data. Chair Powell’s hawkish remarks during his second-day testimony before the US Congress boosted US … [Continue reading]
WTI plummets due to global rate hike fears, worldwide economic slowdowns woes
Share: Central bank rate hikes, led by BoE, stoke fears of diminished oil demand. WTI falls despite recent OPEC+ output cuts and surprise dip in US crude inventories. Traders shift focus to China’s upcoming factory activity data amidst concerns … [Continue reading]