Gold Price Outlook: Gold Surges into April- XAU/USD Risks Breakout
Gold surged more nearly 4% off the March lows with XAU/USD threatening a major breakout into the April open. Here are the levels that matter on the technical charts.
China Punishes Underwriters, Bankers for Lax Due Diligence
SHANGHAI, April 6 Reuters Chinas securities regulator announced penalties against a slew of underwriters and individual bankers on Tuesday, sending a clear warning regarding sloppy due diligence. Nearly 40 individuals and eight investment banks were punished for inadequate due diligence in the first quarter, notices on the website of the China Securities Regulatory Commission CSRC […]
Sterling Slips after Reaching TwoWeek High Versus Dollar
LONDON, April 6 Reuters Sterling slipped on Tuesday as investors took some cash off the table after cable jumped to its highest point in more than two weeks as traders continued to bet on a speedy reopening of the British economy. Versus the dollar, sterling was 0.4 lower at 1.3854 at 0859 GMT, after earlier […]
Occidental Unit to Build LowCarbon BioEthylene Plant
Reuters Occidental Petroleums lowcarbon unit said on Tuesday it plans to construct and operate a pilot plant that would use humanmade carbon dioxide, instead of hydrocarbonsourced feedstocks, to produce bioethylene. The pilot plant will be jointly developed by Occidentals venture capital arm, Oxy Low Carbon Ventures LLC, and bioengineering startup, Cemvita Factory. It is expected […]
Big ECB Climate Change Role may be Step too Far Warns Wunsch
FRANKFURT Reuters A major role in tackling climate change may go beyond the European Central Banks mission and competence, Belgian policymaker Pierre Wunsch said, weighing in on a debate that could reshape Europes most powerful financial institution. The ECB is reviewing its role in fighting climate change, with options under consideration including the skewing of […]
Firm Paxos to Apply for Clearing Agency License
Reuters Cryptocurrency firm Paxos said on Tuesday it will apply for a formal clearing agency license from the U.S. Securities regulator following a pilot test in which Credit Suisse and Instinet used its platform for sameday trade settlements. Paxos said Credit Suisse and Instinet, the trading arm of investment bank Nomura Holdings Inc, settled U.S.listed […]
Euro Zone Bond Yields up in Wake of U.S. Jobs Data
AMSTERDAM, April 6 Reuters Euro zone bond yields edged up on Tuesday as markets reopened from the Easter holiday and caught up with betterthanexpected U.S. employment data released on Friday. Last weeks data showed the U.S. economy created the most jobs in seven months in March, beating expectations, as more Americans got vaccinated and the […]
EUR/USD IG Client Sentiment: Our data shows traders are now net-short EUR/USD for the first time since Mar 23, 2021 when EUR/USD traded near 1.18.
Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EUR/USD-bullish contrarian trading bias.
Bitcoin (BTC/USD) Pulls Back, Remains Bullish with Breakout Potential
Bitcoin bulls bid the crypto-currency right back up to that 60k handle. That remains as resistance, at least for now.