Euro Forecast: EUR/USD Surges Towards Resistance- Bulls Eye 1.20
Euro has soared more than 2.4% off the yearly low with the rally now approaching technical resistance. Here are the levels that matter on the EUR/USD weekly chart.
U.S. Consumer Prices Post Biggest Gain in 812 Years
U.S. consumer prices rose by the most in more than 812 years in March as increased vaccinations and massive fiscal stimulus unleashed pentup demand, kicking off what most economists expect will be a brief period of higher inflation. The report from the Labor Department on Tuesday also showed a firming in underlying prices last month […]
USD Down despite CPI, NZD Up despite RBNZ; Powell QA
Rates as of 0500 GMT Market Recap A big surprise with regards to US inflation. I had been concerned that despite the assurance from the Fed and White House that rising inflation is only temporary, the market would take it more seriously and send Treasury yields and the dollar up. When yesterdays consumer price index […]
Gold Technical Analysis: XAU/USD Teases Breakout as BTC, Coinbase Grab Headlines
Gold prices are getting close to the neckline of a double bottom pattern – but are bulls finally ready to re-take control?
Oil Eyes Highest Finish Since MidMarch on a Stronger Demand Outlook and Drop in U.S. Supplies
Oil futures traded sharply higher Wednesday, as the International Energy Agency lifted its demand outlook for crude and a U.S. government report revealed a thirdweekly drop in weekly inventories, setting prices up for their highest finish since midMarch. In its monthly report, the International Energy Agency raised its forecast for global oil demand in 2021 by 230,000 […]
OPEC Raises 2021 Oil Demand Growth Forecast
OPEC on Tuesday raised its forecast for growth in world oil demand this year on expectations the pandemic will subside, providing help for the group and its allies in their efforts to support the market. Demand will rise by 5.95 million barrels per day bpd in 2021, or 6.6, the Organization of the Petroleum Exporting […]
Goldman Sachs Profit Jumps on Record Global Dealmaking
April 14 Reuters Goldman Sachs Group Inc reported a massive jump in firstquarter profit on Wednesday, as Wall Streets biggest investment bank capitalized on record levels of global dealmaking activity. It also benefited from a favorable comparison to a year earlier when it set aside more funds to cover potential corporate loan losses due to […]
Gold Declines as Investors Watch for Powell
Gold futures declined on Wednesday as market participants awaited a speech from Federal Reserve Chairman Jerome Powell and as bitcoin, one of golds biggest rivals as a safe haven, hit a fresh record ahead of the hotly anticipated debut of cryptoplatform Coinbase Global on the Nasdaq. Naeem Aslam, analyst at AvaTrade, says that gold is […]
AUD, NZD Rally, Risk Sentiment Survives U.S. Inflation Test
SYDNEY, April 14 Reuters The Australian and New Zealand dollars were pushing higher on Wednesday, as global markets refused to be spooked by a wellflagged jump in U.S. inflation, sending Treasury yields lower and undermining the U.S. dollar. The Aussie firmed to 0.7657, after rallying from support at 0.7585 overnight. It needs to clear resistance […]
Japanese Shares End Lower as Virus Resurgence Hits Risk Appetite
TOKYO, April 14 Reuters Japanese shares ended lower on Wednesday, weighed down by cyclicals, as a resurgence in COVID19 cases cast doubts over prospects of economic rebound, while falling interest rates dragged banking and insurer stocks. The Nikkei share average was down 0.28 at 29,668.74, as of 0202 GMT, while the broader Topix slipped 0.23 […]