The Australian dollar is showing limited movement on Wednesday. AUD/USD is trading at 0.6647 in the European session, down 0.02% on the day at the time of writing. What will it take to shake up the Australian dollar? Australian retail sales were weaker than expected on Tuesday and today’s inflation report was higher than anticipated,…
The Pound Sterling drops after facing selling pressure near 1.2800 due to multiple tailwinds. A soft UK inflation outlook could prompt the BoE to start unwinding higher interest rates. The US Dollar recovers amid uncertainty ahead of the US core PCE price index. The Pound Sterling (GBP) corrects to 1.2750 against the US Dollar (USD)…
Recent additional stimulus measures from China, a reduction in elevated net long positioning from large futures speculators & an uptick in geopolitical risk premium may support higher oil prices. Watch the key medium-term support of US$78.40/US$76.60 on WTI crude oil. A break above US$81.70 may trigger a multi-week bullish impulsive upmove in WTI crude oil….
Gold, silver, and copper have all been maintaining an uptrend towards record highs in recent weeks, with silver and industrial metal copper topping multi-year records during the week of 20 May 2024. Analysts predict the prices of these commodities will maintain this robust pattern for the next 12 months. Spot gold reportedly edged closer to…
The price of Nvidia (NVDA) shares reached a record high on Tuesday as it passed $1,100 for the first time. At the end of the trading day, it had reached more than $1,140. This record-breaking move came following the chipmaker’s impressive Q1 results. Adjusted earnings shot up by 461% on a year-on-year basis and the…
Yesterday, on Tuesday, Nvidia’s stock price reached a historic high, surpassing the $1,130 mark, increasing by almost 7% relative to Monday’s closing price. This happened after a turbulent past week, during which Nvidia published a very strong report that led to an over 8% rise in its stock price in one day. Thus, since the…
Fundamental Overview Gold has been feeling the pressure from the rise in real yields lately as the opportunity cost of holding into gold at these levels remains high. We will likely need some downside surprise in the US inflation data or weak economic reports to trigger another sustained rally. At the moment, the picture is…
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2024.05.29 2024.05.29 Silvers hits new highs on increased demand. Forecast as of 29.05.2024 Dmitri Demidenkohttps://www.litefinance.org/blog/authors/dmitri-demidenko/ Strong industrial demand for silver, especially from India and China, and the metal’s appeal as a financial asset are working wonders. XAGUSD prices have soared to 11-year highs. Let’s talk about it and make a trading plan. Monthly fundamental forecast…
In the dynamic world of trading, retail investors often follow the herd, buying during optimistic times and selling in pessimistic ones. However, experienced traders recognize that lucrative opportunities often arise by going against the prevailing sentiment. Contrarian Trading Strategy Contrarian trading involves defying the general market sentiment. It’s not about opposing the crowd without reason…