Euro Weakens after Poor Germany Business Climate, Yen Struggles to Recover
Euro turns slightly softer after poor German business climate reading, in particular against Swiss Franc, Aussie and Loonie. Dollar is also weak except versus Yen. Yen is trying to recover but there is no clear follow through buying. It’s the...
GBP/USD Outlook: Cable Remains Directionless Between Pivotal Fibo Levels
Cable holds in a choppy and directionless mode for the second straight day and remained resilient despite downbeat UK retail sales data for February. Weaker dollar in European trading on Friday helped sterling ahead of pivotal support at 1.3150 (50%...
GOLD ($XAUUSD) Buying The Dips After Elliott Wave Zig Zag
Hello fellow traders. In this technical blog we’re going to take a quick look at the Elliott Wave charts of GOLD, published in members area of the website. As our members know, we’ve been favoring the long side in the...
EUR/USD Pair Started a Fresh Increase from $1.0950
The Euro started a fresh increase from the 1.0950 support zone against the US Dollar. The EUR/USD pair traded above the 1.1000 resistance level and the 50 hourly simple moving average. It even moved above the 1.1020 level and cleared...
Dollar Turning Softer in Mixed Markets, Gold Extends Rebound
Overall markets are mixed in Asia today. While stocks in Hong Kong are suffering renewed selling, Japan and Singapore are steady. Gold is lifted by general weakness in Dollar. Yen’s selling looks more and more exhausted even though it’s still...
Crude Oil Price Start Fresh Increase, Gold Consolidates
Key Highlights Crude oil price started a steady increase above the $105.00 resistance. A key bullish trend line is forming with support near $113.70 on the 4-hours chart. Gold price is consolidating above the $1,900 support zone. The US Manufacturing...
Russia to Demand Rubles for Their Oil, Gold Set to Breakout?
US indices pulled back from their highs overnight as bond yields continued to scream higher as Fed officials maintained their hawkish rhetoric. Wednesday US cash market close: The Dow Jones Industrial fell -448.96 points (-1.29%) to close at 34,358.50 The...
Mortgage refinance demand plunges 14%, as interest rates spike higher
Fast-rising mortgage rates are causing a drop in mortgage demand, especially refinances.
Bitcoin Rises on Capital Flight from Bonds
BTC rose 3.5% on Tuesday. At the peak of the day, the rate exceeded $43.2K, but by Wednesday morning it rolled back to $42K, demonstrating a 0.7% correction. Ethereum is losing 1% over 24 hours, while other leading altcoins from...
Fed Hawks Send Yield Higher, Yen Lower
There is no change in the overall theme in the forex markets. Yen’s decline continues and there is no sign of slowing yet. Hawkish comments from Fed officials pushed treasury yields further up. Fed Chair Jerome Powell will speak again...