XAU/USD: Bears Taking a Breather but Gold On Track for the Fourth Straight Weekly Drop
Spot gold stands at the back foot on Friday and holding in extended consolidation above new multi-month low ($1732) but holding bearish bias. The metal is on track for the fourth consecutive weekly drop, with this week’s fall being the...
GBPJPY Seeks an Upside Reversal, But Bears Still Present
GBPJPY finished Thursday’s session comfortably in the green zone after refusing to close below the 162.00 round level once again. Simultaneously, the bullish action seems to have confirmed Wednesday’s hammer candlestick pattern – an encouraging sign that the balance may change in...
EURGBP Wave Analysis
EURGBP broke key support level 0.8500 50 Likely to fall to support level 0.8430 EURGBP currency pair recently broke the key support level 0.8500 (which stopped the previous waves a and (4), as can be seen below). The breakout of...
Oil Outlook: Below $100 WTI Raises Eyebrows
As WTI’s price plunged below $100 a barrel on the 5th of July, it raised eyebrows across the markets, as analysts are pushed to the edge of their seats, pondering on what’s to follow. Without a doubt, recession fears and...
Canadian Dollar Eyes Job Data in Canada, US
The Canadian dollar is back below the 1.3000 line today. USD/CAD is trading at 1.2987 in the North American session, down 0.37%. On the economic calendar, Canada’s Ivey PMI was a major disappointment, slowing to 62.2 in June from 72.0...
EURGBP: Bears Need Penetration of Daily Cloud to Resume
The cross extends a steep fall into third consecutive day and cracks significant support at 0.8501 (top of thick ascending daily Ichimoku cloud). Bears accelerated on Wednesday after a bullish signal was generated on break of trendline support at 0.8584...
Stocks making the biggest moves premarket: GameStop, Seagen, Virgin Galactic and more
Check out the companies making headlines before the bell: GameStop (GME) – GameStop rallied 7.8% in the premarket after the videogame retailer declared a 4-for-1 stock split. Trading on a split-adjusted basis will begin on July 22. Seagen (SGEN) –...
Aussie Displaying Resilience, Dollar and Yen Staying Firm
The stock markets are starting to display some resilience, despite hawkish FOMC minutes. US stocks managed to close higher after initial selloff. Nikkei is also showing some strength in Asian session. Dollar and Yen are retreating mildly while Aussie and...
Canadian Jobs Data Eyed after Loonie’s Sharp Sell-off
Canadian jobs data for June will accompany the US nonfarm payrolls on Friday at 12:30 GMT. The consensus is for a softer employment print, but the data will not alter the central bank’s guidance for a super-sized rate hike this...
GameStop jumps 5% in extended trading after announcing 4-for-1 stock split
A screen displays the logo and trading information for GameStop on the floor of the New York Stock Exchange (NYSE) March 29, 2022. Brendan McDermid | Reuters Shares of GameStop jumped 5% in extended trading Wednesday after the retailer said...