CAD Weakens; On Monday, the Canadian dollar weakened against its major counterparts due to falling oil prices. The Opec meeting is scheduled to discuss current pricing policies for petroleum products. Crude oil prices fell $0.82 per barrel to 78.87 on March 1st due to concerns over supply and global economic uncertainty. Investors are eagerly awaiting the OPEC …
Pain in Energy Markets: Due to falling natural gas prices, the commodity closed below $3 for the first time since May 24th, 2021. This decline was spurred by increased stockpiles in Europe and America as forecasters predicted mild weather in February. Major US Economic Data Next Week: The US economy continues to show resilience despite …
EUR/USD OutlookThe EUR/USD continued its advance from yesterday, reaching a high of 1.09 following the opening of European markets. The Euro gained momentum against the USD as news from the Bank of Canada’s rate decision started to spread throughout the market.Yesterday’s Bank of Canada rate decision appears to have sparked a renewed sense of risk …
Gold Looking firm Gold prices rose overnight and are currently trading at around US$ 1,940. Markets are anxious about the state of the US economy, which has been sluggish in recent months.Rephrase Disappointing PMI data seems to have led many market participants to believe that the Federal Reserve will not raise interest rates as aggressively …
Aussie Dollar Outlook It is still possible that the Reserve Bank of Australia will raise interest rates again in February, as mentioned in their previous minutes. Money market prices are currently divided between a 0% increase and a 25bps increment, which could lead to more clarity on Wednesday’s inflation print. On a positive note for …
Overview: The greenback drifted off multi-month lows on Tuesday, whilst the yen hung close to seven-month highs as traders held their breath for a possible policy shift on the financial institution of Japan. The EUR/USD pair gained traction this week and rose above 1.0900 before retreating slightly in the early morning European market. Over the …
In this article, we have covered the highlights of the most important news about the Gold Price range-bound market, the Russia Default, Crude oil declining, and the U.S. Dollar this week. Gold Price Range-Bound The gold price has been stuck in a range of US$ 1,807 – 1879 for the last five to seven weeks …
Gold Price Movement, Forex Update-June 27th, 2022 Read More »
The goal of Multi-Time Frame Analysis is to “see the forest through the trees” – before entering a trade based on a given setup, you should always have a broader view of where the market is in relation to trend. By examining price action in different timeframes, we can identify potential entry points within a …
The Canadian dollar was trading 0.1 percent lower at 1.2930 to the US dollar, or 77.34 cents, having recovered some of its earlier losses. The Bank of Canada raised its policy rate to 1.5 percent from 1.0 percent earlier this month, its second consecutive overshoot, and stated that it would act “more forcefully” if necessary …
Bank of Canada: high inflation ‘keeping us up at night Read More »
According to MKS PAMP metals strategist Nicky Shiels, the market is shifting as inflation fears give way to recession fears, with equity investors preferring cash to safe havens like gold. Gold’s volatility has been low in comparison to other assets, as the precious metal maintains its “mild bull market” status and trades comfortably between $1,800 …
