The Canadian dollar experienced a subdued trading session yesterday, characterized by narrow fluctuations within a broader bearish trend. The currency pair reached a low of 1.3603 against the US dollar. Technical analysis suggests a continuation of this downward momentum. The Stochastic oscillator on the 240-minute timeframe is showing signs of …
Read More »USD/JPY Faces Potential Reversal After Brief Rebound 4/6/2024
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Read More »GBP/USD Surges Past Key Support, 4/6/2024
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Read More »Gold Prices Face Key Resistance Level Amidst Mixed Signals 4/6/2024
Gold prices experienced positive momentum yesterday, approaching the significant resistance level of 2340 and reaching an intraday high of $2354.00 per ounce. However, the technical outlook presents a mixed picture, with both bullish and bearish signals vying for dominance. On the 4-hour timeframe chart, the 50-day simple moving average is …
Read More »EUR/USD Surges Past Key 4/6/2024
The EUR/USD pair has experienced a notable surge in the early trading sessions this week, breaching the key psychological resistance level of 1.0900 and reaching a high of 1.0915. Technical analysis indicates a potential shift in momentum towards the upside. On the 4-hour chart, the simple moving averages have crossed …
Read More »Market Drivers; US Session, June 3
The New York Stock Exchange said Monday that a technical issue that halted trading for some major stocks and caused Berkshire Hathaway to be down 99.97% has been resolved. In an update, NYSE said impacted stocks have reopened and “all systems are currently operational.” Inter-continental Exchange, the parent company of …
Read More »Japan’s Suzuki: Early May intervention was in a response to speculations
Japanese Finance Minister Shunichi Suzuki said on Tuesday that foreign exchange (FX) intervention had effects to some effects, adding that the central bank will continue to respond appropriately when asked about forex. At the time of writing, USD/JPY is 0.19% higher on the day trading at 156.38. the USD/JPY pair …
Read More »Why have some of Warren Buffett’s shares dropped by 100%?
On the opening day of the new trading week, there were trading disruptions on the New York Stock Exchange due to a technical issue that resulted in the suspension of trading in certain blue-chip companies and large losses for other equities during Monday’s session.The most severely impacted company by this …
Read More »Brent Falls Below $80 For First Time Since February
The nearest contract for Brent futures dropped 3.59 percent to $78.19 at the time of writing, while the American WTI contract was down 3.43 percent at $74.26. it is worth mentioning that Brent crude oil prices fell to below $80 a barrel on Monday for the first time since February, …
Read More »Dow Jones retreats following ISM PMI
Investors’ growing concerns regarding weakening US data have caused the Dow Jones to reverse. Bets on a November Fed rate drop have taken over in the markets. With a steep decline in stocks on Monday, NFP week officially begins. Investors pulled back after the US ISM Manufacturing Purchasing Managers Index …
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