Australian Dollar Gains Support from Rising ASX 200 Despite Stronger US Dollar
Australian Dollar Gains Support from Rising ASX 200 Despite Stronger US Dollar The Australian Dollar (AUD) is showing signs of consolidation, hinting at a potential recovery from its recent losses as of Wednesday. This comes amidst mixed market signals, including a positive performance from the S&P/ASX 200 Index and contrasting pressures from lower commodity prices. […]
Gold Price Lingers Around Weekly Low, Supported by Speculation of June Fed Rate Cut
Gold Price Lingers Around Weekly Low, Supported by Speculation of June Fed Rate Cut During Wednesday’s Asian trading session, Gold prices (XAU/USD) experienced a slight uptick, recovering partially from the previous day’s downturn which saw it reach the weekly low near $2,150. This shift occurs amid a complex interplay of economic signals and market expectations, […]
GBP/JPY Falls Close to 188.70 Amid Rumors of Bank of Japan Mulling Rate Increase in March
GBP/JPY Falls Close to 188.70 Amid Rumors of Bank of Japan Mulling Rate Increase in March The GBP/JPY pair retraced its recent gains from Tuesday, declining to near 188.70 in the Asian trading session on Wednesday. This shift can be attributed to the strengthening of the Japanese Yen (JPY), spurred by market speculation about the […]
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XRP Poised for Weekly Drop as Investors Pocket $370 Million in Profits
XRP Poised for Weekly Drop as Investors Pocket $370 Million in Profits The price of XRP, a popular altcoin, experienced a downturn, reaching $0.62 on Friday. Despite this drop, it managed to stay above the crucial $0.60 mark, a psychologically significant level for traders and investors. This recent price movement has been primarily attributed to […]
Biden Advocates for Increased Corporate Tax, Highlights Robust Economy in Major Address
Biden Advocates for Increased Corporate Tax, Highlights Robust Economy in Major Address In his State of the Union address, US President Joe Biden emphasized the need for increased corporate taxes, underscoring his commitment to reducing medication costs and enhancing housing affordability. This move comes as part of his efforts to address public concerns about the […]
EUR/USD Stabilizes Around 1.0950, Awaiting US Payroll Data
EUR/USD Stabilizes Around 1.0950, Awaiting US Payroll Data The EUR/USD currency pair has been exhibiting a phase of consolidation, struggling to extend the upward trajectory it started on March 1st. This period of steadiness comes as traders and market analysts fix their attention on forthcoming key economic releases from both the Eurozone and the United […]
WTI Stabilizes Near $78.50 Following Recent Upsurge Due to Changes in US Crude Oil Inventories
WTI Stabilizes Near $78.50 Following Recent Upsurge Due to Changes in US Crude Oil Inventories During the Asian trading hours on Thursday, the West Texas Intermediate (WTI) crude oil price experienced a slight decline, hovering around $78.50 per barrel. This movement follows a notable surge on Wednesday, primarily fueled by developments in the US crude […]
BNB Price Surges 10% Amid Binance’s Global Regulatory Challenges
BNB Price Surges 10% Amid Binance’s Global Regulatory Challenges Binance Exchange, the world’s largest cryptocurrency trading platform by volume, is currently embroiled in a series of regulatory controversies across various jurisdictions. In Nigeria, the authorities have summoned CEO Richard Teng over allegations of money laundering and terrorism financing, as reported by the local newspaper, Punch. […]
Stocks Rally as Powell Maintains Course on Interest Rate Reductions
Stocks Rally as Powell Maintains Course on Interest Rate Reductions On Wednesday, U.S. stock markets experienced a significant resurgence, particularly in the technology sector, which made a robust recovery from the previous day’s considerable downturn. This upward trend was largely influenced by investor reactions to Federal Reserve Chair Jerome Powell’s latest comments, suggesting that interest […]
Currency Market Stabilizes Ahead of Powell Speech, Bitcoin Gains Momentum
Currency Market Stabilizes Ahead of Powell Speech, Bitcoin Gains Momentum On Wednesday, the U.S. dollar remained stable as traders awaited Federal Reserve Chair Jerome Powell’s congressional testimony and upcoming key events, including a European Central Bank (ECB) rate decision and U.S. jobs data. Bitcoin showed renewed momentum in the cryptocurrency market, though it did not […]
China’s Ambitious 5% Growth Target Criticized as Lacking a Concrete Plan
China’s Ambitious 5% Growth Target Criticized as Lacking a Concrete Plan China has set an ambitious growth target of about 5% for this year, aiming to boost confidence in the world’s second-largest economy. However, analysts have noted the absence of detailed strategies from Premier Li Qiang to achieve this goal amidst China’s significant challenges. During […]
GBP/USD Remains Below 1.2700 Before Fed Chair Powell’s Testimony
GBP/USD Remains Below 1.2700 Before Fed Chair Powell’s Testimony In the early Asian trading session on Wednesday, the GBP/USD currency pair was observed holding below the significant 1.2700 mark, indicating a slight downtick influenced by a resurgence in the US Dollar (USD). This currency movement sets the stage for a day filled with key economic […]
What Are the Best Times or Sessions to Trade Gold in the Forex Market?
Have you ever wondered when is the best time to trade gold in the Forex market? Well, you’re in luck! Today, we’re going to delve into this topic and make it easy to understand. No complex jargon or metaphors – just straight, simple talk. And, we’ll be sharing some insights from our experience at Xtreme […]
Gold Price Stable Near High, Amid Fed Rate-Cut Speculation and Market Softness
Gold Price Stable Near High, Amid Fed Rate-Cut Speculation and Market Softness During the early hours of Tuesday’s European trading session, the Gold price, measured in XAU/USD, maintained a steady range, reflecting a period of consolidation after its recent significant surge to a three-month high near the $2,120 mark, achieved the previous day. This stability […]
Japan’s Officials Dismiss Claims of Government Ending Deflation Policy
Japan’s Officials Dismiss Claims of Government Ending Deflation Policy In recent developments, Japan’s senior government officials have unequivocally dismissed a media report claiming that Tokyo is contemplating announcing an end to the prolonged state of deflation that has characterized its economy. This denial underscores the government’s priority to steer the economy clear of reverting to […]
Morgan Stanley: Global Funds Reinvest in China Stocks
Morgan Stanley: Global Funds Reinvest in China Stocks As February concluded, the dynamics surrounding Chinese equities experienced a significant shift. Recent data compiled by strategists Gilbert Wong and Laura Wang, published in a March 4 note, highlighted a noteworthy deceleration in the outflows from Chinese stocks. Importantly, regional active managers began increasingly focusing on sectors […]