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Bear Flag reaches conservative target
Silver formed a Bear Flag continuation price pattern after reversing from the April highs at about $30.00. The pattern broke to the downside and declined to its conservative target. After a few bounces it started to reverse higher. There is a possibility that Silver price will fail to br
US Dollar Index Technical Analysis: Some help from across the Pacific
The US Dollar Index (DXY) ticks up on Tuesday after Dollar bulls were able to close above 105.00 on Monday after a correction move in recent days. This could be crucial for the rest of the week and could see the DXY tick up further from here. Although no real major known catalysts are foreseen for t
Daily digest market movers: Kashkari Fed heavyweight
The United Kingdom was closed for a bank holiday on Monday and could see some catching up across several asset classes with London reopening on Tuesday. At 12:55 GMT, the Redbook Index for the week ending on May 3 will be released. The previous number was 5.5%.At 14:00 GMT, the TechnoMetr
US DOLLAR TRADES IN THE GREEN AFTER MONDAY’S LAST-MINUTE TURNAROUND
The US Dollar trades in the green across the board through the European session.Traders are sending Greenback higher on a mixture of geopolitical fears and positive earnings. The US Dollar Index trades back above 105.00 after bulls were able to close in positive on Monday. The US Dollar (USD) t
AUD/USD PRICE ANALYSIS: PULLING BACK WITHIN A SHORT-TERM UPTREND
AUD/USD is correcting back within a short-term uptrend. It will probably eventually find support and resume its bullish bias. The pair may have formed a Measured Move with a target for ending wave at 0.6680. AUD/USD is trading in the 0.6590s on Tuesday as it continues correcting back from
NZD/USD JUGGLES NEAR 0.6000 AS US DOLLAR STEADIES AFTER INVESTORS PRICE WEAK US DATA
NZD/USD trades sideways around 0.6000 as the US Dollar steadies after recovery. The speculation for the Fed lowering key interest rates from September strengthens after weak US NFP data. Weak NZ labor market data boosts expectations of early rate cuts by the RBNZ. The NZD/USD pair trades lacklustre
GOLD FALLS AS USD FINDS A FLOOR AND RECOVERS
Gold price is weakening on Tuesday on the back of a rise in the US Dollar. The USD’s recent decline was due to weak US jobs data, but Fed commentary put a floor under the sell-off. Fed policymakers made it clear they are still not in a hurry to cut interest rates, boosting the Greenback.&n
Natural Gas Technical Analysis: setting sail to $2.54
Natural Gas is on the breakout, that much is clear. Day by day the question is how this rally can withstand any profit-taking moments from traders that are in for the short ride and earn a few bucks. With the drift further away from substantial support levels, traders entering at elevated levels nee
Natural Gas news and market movers: Hiccup does not help
European Gas markets are whipsawing by pricing in and out a risk premium on local Gas prices while a lot of LNG volume is actually on its way to Europe. Therefore, any hiccup in supply disruption will not be felt in the first coming weeks, Bloomberg reports.Chevron had to reschedule several LNG deli
NATURAL GAS EASES AS TRADERS ENGAGE IN PROFIT-TAKING AFTER STEEP SURGE
Natural Gas prices are undergoing some profit-taking on Tuesday.Israel has started its ground offensive in Rafah while ceasefire talks don’t bear fruits.The US Dollar Index ticks up on Tuesday after closing above 105.00. Natural Gas (XNG/USD) retreats from the peak at $2.40 seen on Monday afte
Technical Analysis: EUR/USD consolidates around 1.0770
EUR/USD trades in a narrow range around 1.0770. The major currency pair struggles for a direction amid an absence of top-tier economic events. The overall trend in the major is also sideways due to a Symmetrical Triangle formation on a daily timeframe. EUR/USD exhibits a sharp volati
Daily digest market movers: EUR/USD turns sideways after correcting from 1.0800
EUR/USD is stuck in a tight range around 1.0770 amid the absence of tier-1 Eurozone economic data this week. Investors are expected to predict the next move in the Euro based on speculation about the European Central Bank’s (ECB) interest rate outlook. Financial markets anticipate that the ECB
EUR/USD RECOVERY STALLS AS ECB REMAINS CONFIDENT OVER JUNE RATE CUT
EUR/USD consolidates around 1.0770 after correcting from 1.0800 as investors expect the ECB to reduce interest rates from June.ECB Stournaras’s projection of three rate cuts this year is aligned with market expectations.The speculation for the Fed lowering interest rates from September has strengthe
EUROZONE RETAIL SALES RISE 0.8% IN MARCH VS. 0.6% EXPECTED
Retail Sales in the Euro area rose more than expected in March.EUR/USD stays in daily range slightly above 1.0750. Retail Sales in the Euro area rose 0.8% on a monthly basis in March, Eurostat reported on Tuesday. This reading followed the 0.3% decline recorded in February and came in bett
Mexican Peso trades with low volatility ahead of key events
The Mexican Peso trades little changed ahead of Mexican April inflation data and the Banxico meeting on Thursday, with both events having the potential to cause volatility for MXN. Both the headline and core inflation rates are scheduled for release on Thursday at 12:00 GMT. He
Pull-up Update