Gold against the Dollar has been sideways since September Ist, 2022, traded between 1700 to 1726 for almost a month for almost half of the month, Stronger CPI data on Tuesday affect the gold market by making the Dollar strong,Bearish momentum has supported by Inverted Cup and handles pattern,Market sentiment on Gold is also mostly bearish, it can be understood… Read More »Inverted Cup and handle pattern in XAUUSD
BoJ reportedly conducted rate check-in in apparent preparation for currency intervention. Japan’s Matsuno says sharp FX fluctuations are not desirable. South Korea’s vice fin min says closely monitoring financial and forex markets. Some US railroads will start halting certain shipments on Thursday 15 September 2022 due to strikes. Nomura now forecasting a 1% FOMC interest rate hike (100bp) following yesterday’s… Read More »News from overnight:
The significant decline that has been acquired on Tuesday in gold and silver prices is now on hold heading to European start. Copper, 0.3%, is the only other component of the commodities complex that is trading higher, while spot WTI, 0.64%, is trading down following the sell-off on Wall Street indexes in the Asia-Pacific region, which experienced a decline. All… Read More »Gold and silver are flat leading into the European open
The currency pair NZD/USD is unable to benefit from its light intraday rebound and is still near its lowest level of March 2020, which was reached the previous day through the early parts of the European sessions. Prices remained defensively below the psychological threshold of 0.6,000 and they appear vulnerable to additional declines.
Brent crude futures have fallen under $93 per barrel Wednesday. Moving further from a week-long high hit and in the earlier session. Being considerably more robust than had been anticipated in the latest statistics on US inflation has given a rise to concerns that the federal reserve may take even more drastic action to combat rising prices. The market is… Read More »Brent oil futures fell beneath $93 per barrel on Wednesday
Short term analysis Weakening Dollar and Strong Euro is giving a boost for Gold to move upwards near 1760, it might retrace the 1720 zone before moving up, it could happen in the coming week. Long term analysis As of now, gold bulls have held long-term support directly in the face of one of the strongest USD rallies experienced in… Read More »Gold with Double bottom eyes on 1760 during mid of September
Bitcoin increases upwards of 10% going forward to the $21,000 mark, Two weeks later with levels that have a risk appetite and unfavourable presumptions in the market make investors purchase battered down cryptocurrencies. The value of Ethereum has now risen to an estimated $1,700 as investors wait eagerly for the “merge” which is highly awaited as they await the culmination… Read More »Bitcoin Rallies to Two-Week High