Dalian iron ore extends losing streak on Chinese steel export outlook

Dalian iron ore extends losing streak on Chinese steel export outlook
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Dalian iron ore extends losing streak on Chinese steel export outlook
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This wasn’t the price action that the bulls were hoping for today. Nvidia crushed earnings once again and its revenue forecast was strong but after a 5% pre-market jump, shares slowly faded and are now down 1.8%, threatening to leave a nasty candle on the chart on what’s looking to be a high-volume day. Now…
EUR/USD rallies from 1.1391 to 1.1554, gaining over 1% on Friday. July Nonfarm Payrolls show just 73K jobs added; May–June revisions slash 258K jobs. Fed funds futures price in 62 bps of easing by December; 76% odds of a September rate cut. EU inflation data beats forecasts: HICP at 2.4% YoY, core HICP steady at…
USDCHF Remains in a Consolidation Phase The USDCHF market continues its quiet phase as the price consolidates. Both buyers and sellers appear hesitant, with neither side gaining significant momentum. The sellers have been unable to break through the 0.84140 support zone, while the buyers have struggled to push the price beyond the 0.85500 resistance level….
Gold price remains supported above $4,300 level, looking to close the year with more than 60% annual gains. The mixed US NFP data weighed on the dollar, supporting gold. Central bank demand and a dovish Fed pose a long-term bullish narrative for gold. The gold price maintains a positive momentum above the $4,300 level, near…
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The Japanese yen is in negative territory on Friday. This follows a two-day rally which saw the yen jump 1.9% and hit a three-month high. In the European session, USD/JPY is trading at 151.94, up 0.39% on the day. On the data front, Japan’s household spending was much stronger than expected and the US releases…