Gold clings to its daily gains, navigating the $4,530 region per troy ounce in the latter part of Wednesday’s NA session. In the meantime, upside attempts remain limited as rising inflation concerns, expectations of a more hawkish Fed and escalating … [Continue reading]
Forex Today: US Dollar softens as Fed caution meets improving US-Iran optimism
Here is what you need to know for Thursday, May 21:The US Dollar Index (DXY) trades with a softer tone near the 99.10 region as improving market sentiment reduces safe-haven demand for the Greenback. The Federal Open Market Committee (FOMC) Meeting … [Continue reading]
XRP climbs amid steady ETF inflows and derivatives demand
Ripple (XRP) rises above $1.37 at the time of writing on Wednesday, after testing a short-term support at $1.35. The rebound follows a rejection XRP suffered at $1.50 in mid-May, triggered largely by macroeconomic uncertainty surrounding rising … [Continue reading]
South Africa Retail Sales (YoY): 2.6% (March) vs 1.6%
Gold remains on the back foot through the Asian session; and currently trades around the $4,470 region, just above its lowest level since March 30, touched earlier this Wednesday amid a bullish US Dollar. Investors remain skeptical about a … [Continue reading]
Pi Network Price Forecast: PI signals rebound chances amid new mainnet upgrade
Pi Network (PI) extends losses in a downward spiral below $0.1500 at press time on Wednesday, overlooking the major mainnet nodes upgrade to protocol version 23. Technically, PI shows a rebound possibility from the previous day’s low at $0.1463 as … [Continue reading]
Silver Price Forecast: XAG/USD steadies near $74.00; ascending channel breakdown in play
Silver (XAG/USD) attracts fresh sellers following a modest Asian session uptick to the $75.00 neighborhood and retreats to the lower end of the daily range in the last hour. The white metal currently trades around the $74.00 mark, close to a nearly … [Continue reading]
United States API Weekly Crude Oil Stock registered at -9.1M, below expectations (-3.4M) in May 15
The selling pressure on Gold is now decelerating, allowing the yellow metal to reclaim the key $4,500 mark per troy ounce on Tuesday. In the meantime, the precious metal’s decline comes amid further gains in the US Dollar, which reflect rising bets … [Continue reading]
XRP under pressure as network growth slows, ETF inflows fade
Ripple (XRP) is trading above $1.37, struggling to find a solid footing at the time of writing on Tuesday amid a broad crypto market drawdown. The persistent decline marks the fifth consecutive day of sellers tightening their grip, leaving XRP … [Continue reading]
Canada New Housing Price Index (MoM) below expectations (0%) in April: Actual (-0.4%)
Gold maintains its offered tone through the early European session, and remains well within striking distance of the lowest level since March 30, set the previous day. Despite renewed hopes for a potential US-Iran peace deal, investors remain … [Continue reading]
Why the Pound is starting to trade like an emerging-market currency
The Bank of England (BoE) is being priced to hike around 70 basis points before year-end. The 10-year gilt is near 5.2%, its highest since the 2008 financial crisis. The 30-year sits at levels last seen in 1998. None of it is helping the Pound. The … [Continue reading]