What you need to take care of on Friday, December 30: The US Dollar fell on Thursday, with the decline exacerbated by thin market conditions. Sentiment led the way throughout the day, with Chinese headlines triggering different market … [Continue reading]
Gold Price Forecast: XAU/USD buyers waiting for a reason to add longs
XAU/USD Current price: $1,814.62 Fears of a wave of a new coronavirus strain in Europe undermined the market sentiment. The positive tone of US indexes limited demand for the American currency. XAU/USD is technically neutral, but speculative … [Continue reading]
EUR/USD Forecast: Growing fears not enough to knock the EUR
EUR/USD Current Price: 1.0639 New coronavirus-related concerns undermine the market mood in thin trading. EU November M3 Money Supply rose 4.8% YoY, beating expectations. EUR/USD is losing upward momentum, but bears are nowhere to be found. The … [Continue reading]
USD/CNY to gradually dip towards 6.80 by end-2023 – SocGen
The Chinese Yuan has come a long way, recovering to around 7.00/USD from the low of 7.32 in late October. Economists at Société Générale expect the USD/CNY to move slightly down toward 6.80 by the end of 2023. CNY is likely to underperform other … [Continue reading]
EUR/USD drops to near 1.0620 as nations favor safety measures for arrivals from China
EUR/USD is facing pressure as fresh Covid measures taken by various nations for arrivals from China trigger volatility. Absence of recovery signs from S&P500 futures after a two-day sell-off portraying risk-off mood. The United States will … [Continue reading]
AUD/JPY sees buying interest around 90.50 as BOJ advocates an accommodative stance
AUD/JPY is likely to find a cushion around 90.50 amid rising volatility in the Japanese Yen. A spike in Covid infections in China might worsen supply chain bottlenecks further. The BOJ has cleared that the central bank is not ditching the ultra-loose … [Continue reading]
United States 5-Year Note Auction: 3.973% vs previous 3.974%
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or … [Continue reading]
United States Redbook Index (YoY): 9.6% (December 23) vs 7.6%
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or … [Continue reading]
GBP/USD Forecast: Sellers could take action if 1.2000 fails
GBP/USD has recovered modestly after having declined toward 1.2000. The technical outlook suggests that buyers remain uninterested. The bearish pressure could strengthen if 1.2000 support fails. GBP/USD has managed to erase a small portion of its … [Continue reading]
NZD/USD Price Analysis: Drops back below 200-SMA, monthly support line in focus
NZD/USD holds lower ground near intraday bottom, extends pullback from 50-SMA. Failure to stay beyond 200-SMA, looming bear cross on MACD favor sellers. One-month-old ascending trend line restricts immediate downside. 61.8% Fibonacci retracement adds … [Continue reading]