Gold price falls back into the hands of the bulls following the ECB’s rate policy decision. The Gold Index is now at a critical stage in the bearish cycle where a significant correction could play out. Next week’s Fed meeting will be very important for rate and gold traders. Gold …

The USD/CHF pair is still upward biased, but in the short-term might aim towards 0.9600. the improved market sentiment dented demand for the US dollar, and constitutes a remarkable headwind for the asset.The USD/CHF slides for the second day in four retreats below 0.9700, amidst an improved market mood weighing …

Bitcoin staged its first test of critical support on Thursday July 21 as the impact of the news headline that Tesla liquidated most of its Bitcoin holdings diminished. The BTC/USD pair is focusing on the $22,800 zone after dropping from multi-week highs of $24,280. The pair had swiftly reacted but …

The European Central Bank raised the key interest rates on Thursday for the first time in 11 years. Analysts at Danske Bank expect the central bank to hike another 100bp this year, before halting its cycle. They still prefer the idea of selling ECB-induced euro rallies.Key Quotes: “EUR/USD initially rallied …

The European Central Bank raised key interest rates on Thursday by 50 bps. The move was larger than expected. Analysts at Wells Fargo believe inflation remains elevated enough, and inflation risks worrisome enough, to continue with a more forceful pace of rate hikes for the time being. Key Quotes: “As …

The USD/CAD pair reversed and dropped back below 1.2900 during Thursday’s volatile session for financial markets following the European Central Bank meeting policy decision and US data.The rejection from above 1.2900/05 (horizontal levels, and 20 and 200 Simple Moving Average in four-hour chart) reinforced the bearish short-term bias. If USD/CAD …

Wednesday has been quite a busy and worrisome trading day. Most currencies have not reflected this as investors are preoccupied by ECB’s monetary policy decision eying it with caution. The US stock market continued its recent rally on Wednesday’s trading session, with technology stocks jumping. For the entire market, earnings …

The EUR/USD pair’s price has recovery signs and is likely to recapture 1.0200 on ECB’s rate hike expectations. The US Dollar Index made a confident pullback after sensing lower selling pressure around 106.40.Political developments in Italy and renewed uncertainty over energy supplies, including from Nord Stream1, have impacted the overall …

Tesla, on Wednesday after the bell, reported its first sequential decline in quarterly profit in more than a year as it recovers from an extended shutdown at its Shanghai plant. Tesla reported adjusted earnings of $2.27 per share on $16.93 billion in revenue in Q2 2022.Automotive revenues made up $14.6 …

Finally, the European Central Bank is making a move in response to rising inflation by widely eyed decision on the first rate hike in more than ten years, but will suffice to turn the tide on the EUR/USD pair as the Euro is poised to revisit levels back below parity …