The value of the Pakistani rupee has dropped significantly against the United States dollar after an exchange cap was lifted as the country seeks to unlock a crucial bailout from the International Monetary Fund (IMF). The IMF has yet to approve the release of a $1.1 billion installment, which was originally scheduled to be disbursed […]
Thursday 26 January is an important day for the foreign exchange market as key economic data is set to be released ahead of the Federal Reserve’s interest rate decision on February 1. The US Commerce Department will release its initial advance fourth-quarter Gross Domestic Product estimates at the same time that the nation’s Core PCE […]
The US Commerce Department set to release its initial advance fourth-quarter Gross Domestic Product estimates at the same time that the nation’s Core PCE prices will be due, likely accelerating to a 0.3% moM pace in December, though a 0.4% gain can’t be discarded, analysts at TD Securities argued. ”The yoY rate likely slowed to […]
Gold prices have dropped from a one-week-old ascending resistance line, around $1,942, due to overbought RSI and looming bears on the MACD. However, the 10-DMA support level around $1,920 limits the immediate downside for Gold prices. If Gold remains weak past $1,920, the previous weekly bottom near $1,896 could act as the last line of […]
The US dollar dropped against the euro despite positive manufacturing data in the US. The markets are currently waiting for inflation and growth updates for the US economy. The eurozone experienced a return to growth in January, which helped boost the euro. EUR/USD was 0.09% higher at $1.0881, just below the 9-month high of $1.0927. […]
On January 24th, the dollar index dropped to levels not seen since May 2022, as concerns about a potential US recession and the Federal Reserve’s less aggressive stance caused investors to move away from the greenback. This led to volatility in the commodities and forex markets, with gold prices fluctuating greatly. The Federal Open Market […]
On Monday, January 23rd, the US Dollar is experiencing bearish pressure and has dropped below 102.00 in Asian trading hours. Market sentiment is cautious, with stock index futures trading lower and the 10-year Treasury bond yield remaining slightly below 3.5%. The Bundesbank and European Commission will be releasing reports later in the day, and the […]
Gold prices have dropped as the US dollar strengthens and Treasury bond yields rise, despite concerns of a potential recession in the US economy. The XAU/USD is currently trading at $1926.42, a 0.28% decrease from its daily high of $1937.91. The trend for XAU/USD remains upward, as shown by the cross of the 100-day Exponential […]
The recent rally in Bitcoin’s price, with a 30% increase in 2023, has caused investors to question if a bull run has begun. Some on-chain metrics suggest a shift in the market and hint at a potential rally, while others need further development. Comparisons can be made to the 2019 mini bull run. However, investors […]
On Thursday, the US dollar weakened as financial markets improved throughout the day. However, most European and American stock indexes still finished in the negative territory as comments from officials at the ECB and the US Federal Reserve indicated that central banks were not finished with their quantitative tightening measures. EUR/USD fluctuated around 1.0800 and […]