XAU/USD Outlook: Gold Dips Below $1800, on Track for the Third Consecutive Weekly Drop
Spot gold price fell below $1800 level on Friday, on fresh bearish acceleration that extends into fifth straight day. The yellow metal came under pressure from higher dollar, as well as prospects of higher interest rates in the US and...
XAG/USD Outlook: Silver Drops Below $20 for the First Time in Two Years
Spot silver broke through psychological $20 support for the first time in two years and hit the lowest since July 2020 on Friday. The metal remains under increased pressure for three months on global economic and geopolitical turmoil which threatens...
The S&P 500 just had its worst first half in more than 50 years, which ‘stressed’ this classic investment strategy
Stock trader on the floor of the New York Stock Exchange. Spencer Platt | Getty Images News | Getty Images The S&P 500 Index, a barometer of U.S. stocks, just had its worst first half of the year going back...
Selloff in Aussie Intensifies With Commodity Prices
Selloff in Aussie and Kiwi intensifies today following the steep decline in commodities. Safe-have flows continue to boost the Japanese Yen, which is additionally lifted by extended pull back in US and European benchmark yields. As for the week, Dollar...
GBPJPY Bears Take Charge; Eyes on 50-SMA
GBPJPY sharpened its downturn below the 20-day simple moving average (SMA) and a key support trendline on Friday, tumbling to a two-week low of 163.24. The price is also set for a close below the 23.6% Fibonacci retracement of the...
Yen Surges on Safe Haven Flow; Stocks, Yields, Oil and Metals Fall
Markets start the first day of the second half dumping risk assets, from stocks to oil to gold and copper. Safe haven flow into treasury has indeed started overnight, pushing US 10-year yield back below 3% handle. In the currency...
A new ETF investing in disaster relief launches in time for hurricane season
The Atlantic hurricane season is in full swing, and a new exchange-traded fund that focuses on disaster recovery has launched just in time for it. The first-of-its-kind Procure Disaster Recovery Strategy ETF invests in companies working to reduce risk and...
New Zealand Dollar Near 2-year Low
The New Zealand dollar is steady on Thursday. Earlier in the day, NZD/USD fell below the 0.62 line before recovering, coming within a whisker of 0.6996, its lowest level since May 2020. NZ Business Confidence sags It was another rough...
WTI Oil Futures Falter But Still Supported
WTI oil futures (August delivery) turned red after failing to close above the 20-day simple moving average (SMA) and the 50% Fibonacci retracement of the $130.50 – $92.19 downfall at $111.35/barrel on Wednesday. The latest pullback could gain new legs...
USD/JPY: Dollar Takes a Breather after Hitting New 24-Year High vs Yen
The USDJPY eases from new highest (137.00) since 1998, posted on Wednesday, as dollar loses traction on concerns that economic growth slowdown and possible recession may shorten Fed’s tightening cycle, that signaled traders to take profits. Larger uptrend remains intact...