Crypto traders remain committed to risk-off after having experienced nine-week decline. Bitcoin is expected to further fall 27% decline this month, although it is up 10% from its recent extreme low at $25,840 on 12 May.The most famous cryptocurrency declined by nearly 3% over the past 24 hours’ trading and …
Read More »Gold is heading for weekly gains with the dollar’s decline
Gold prices rose on Friday, with continued dollar weakness, which helped move the yellow metal towards recording its second consecutive weekly rise, as expectations of a stronger monetary policy tightening from the Federal Reserve ebbed. Spot gold rose 0.2 percent to $1,854.05 an ounce by 0325 GMT. US gold futures …
Read More »Gold holds near $1,850 ahead of US inflation data
Gold Price is holding above its 200-DMA in the $1,850 area and is back to nearly flat on the week. Traders are weighing the softer USD’s tailwinds and US yields versus strong US equities, as key Friday inflation data are looming.Gold Price (XAUUSD) is for now holding just above its …
Read More »EUR/USD surges on weaker dollar
The EUR/USD pair is soaring and is closing to the 1.0700 mark, as the US dollar trading remains softer amid positive market sentiment, and an additional hawkish push provided by the ECB President Christine Lagarde, saying that a rate hike on July, it’s possible. At the time of writing, the …
Read More »GBP/USD rallies on improved risk-on, weaker dollar
The GBP/USD pair opened the week near the 1.2470s area and, due to favorable market sentiment, rallied 100-pips, reclaiming the 1.2500 mark and closing at the 1.2600 price level, last seen on May 5.The sterling is extending its recovery after posting its first weekly gain in five and begins the …
Read More »Hawkish ECB members annoyed at Lagarde’s rate hike plan
Some of the more hawkish European Central Bank policymakers are annoyed at the rate-hike timeline outlined by central bank President Christine Lagarde, Bloomberg reported on Monday citing sources, given some had preferred a faster option. Lagarde effectively signaled in a blog post on Monday that the bank would bring rates …
Read More »The Russia-Ukraine War Can Push Bitcoin to $50K Soon
After peaking at $48,000 last week, Bitcoin tested the resistance level and moved sideways during the weekend’s trading. The cryptocurrency saw a weak correction simultaneously, while Ethereum made a faster recovery, testing the $3,500 area. Bitcoin tested $48,000, the end of the bullish range of its latest trend, and saw …
Read More »USD/CAD Remains Firm Amid Russia – Ukraine’s Concerns
The Canadian dollar remains firm versus the American counterpart, with the USD/CAD down 0.37% in the week.Russia/Ukraine woes and US central bank hawkishness could not stop CAD bulls from extending USD/CAD losses. USD/CAD drop extends to seven straight days amid a risk-off market mood in the equity markets, which has …
Read More »After A Major Step, Bitcoin Price Touches 3 Weeks High
Bitcoin rose to a three-week high as cryptocurrencies moved with major stock market indices. Bitcoin rose to $42,673, up 4.1% within the previous 24 hours.The price of the largest cryptocurrency by market value touched $43,337 earlier Tuesday, the highest point since 3 March.Bitcoin’s price is, broadly, moving in line with …
Read More »Gold Price Off Its Highs On Powell’s Inflation Related Comments
Gold prices have fallen from their session highs but are still holding on to gains even as Federal Reserve Chair Jerome Powell signed that the central bank could aggressively tighten interest rates more than markets are expecting.The gold market appears to be taking the hawkish comments in stride. April gold …
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