Latest Market News
XAUUSD, “Gold vs US Dollar” Gold has formed a Hammer reversal pattern. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target might be the 2040.00 level. Upon testing the resistance, the price could rebound from this level and continue developing the downtrend. However, the quotes might drop to […]
EURUSD, “Euro vs US Dollar” The EURUSD pair completed a growth wave structure to the 1.0823 level. Today the market has formed a consolidation range around this level and, escaping it upwards, might extend the correction to 1.0852. Once it is over, a new decline wave to 1.0774 could begin. GBPUSD, “Great Britain Pound vs […]
USD Falls Despite Hawkish Fed Minutes The US Dollar is trading lower today on the back of yesterday’s FOMC minutes, despite the minutes taking a broadly hawkish tone. Policymakers agreed that significant progress had been made on inflation but were concerned over the risks of tightening too early. While members agreed that the tightening cycle […]
Iron Ore Under Pressure Iron ore bulls will be hoping that the current weakness in USD extends further today, helping stem the sell off in the metal. Iron ore futures have shed around 13% so far this year as concerns over the health of the Chinese economy have weakened the demand outlook for the metal. […]
The Japanese yen, paired with the US dollar, continues to consolidate. The current USDJPY exchange rate stands at 150.22. On Thursday, the Japanese Minister of Finance, Shunichi Suzuki, stated that the authorities have no defence line for the currency and the market. At the same time, the government deems it necessary to monitor volatility in […]
The primary currency pair experienced a significant increase on Thursday. The current EURUSD exchange rate stands at 1.0837. Yesterday, the main focus was on the publication of the US Federal Reserve’s previous meeting minutes, which revealed that most monetary policymakers are concerned about the risks associated with rapidly lowering interest rates. The current concern for […]