Trump blasts China for supposedly violating trade agreement. MRVL sells off nearly 8% as semiconductors see multiple compressions. Germany proposes a new 10% tax on US internet platforms. University of Michigan data shows improving consumer outlook in May. US tech stocks are shedding weight on Friday following several negative news stories. The NASDAQ Composite has…
Gold retreats after earlier bounce to $3,325; sellers return as yields and US Dollar regain footing. Fed Minutes eyed for clarity; dovish surprise could reignite Bullion’s stalled rally. Goldman Sachs urges higher Gold allocation amid geopolitical risks and central bank demand. Gold price extended its losses during the North American session on Wednesday after hitting…
Gold price dips over 0.50% as improved sentiment trims haven flows after last week’s 4.86% surge. Trump postpones 50% EU tariffs to July 9, easing short-term trade war fears. Strong Chinese Gold imports and Russia-Ukraine tensions keep the bullish outlook intact. Gold price drops more than 0.50% on Monday amid the lack of demand for…
Euro (EUR) could test the major resistance at 1.1400; a sustained rise above this level is unlikely. In the longer run, the likelihood of EUR breaking above 1.1400 is increasing; the next resistance is nearby at 1.1435, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note. A sustained rise above 1.1400 is unlikely…
EUR/USD dips to 1.1296 after Trump announces steep tariffs on EU imports starting June 1. The pair rebounds to 1.1350 as US Dollar stays pressured by rising fiscal deficit concerns. Euro shrugs off ECB rate cut talk, supported by improving German GDP figures. EUR/USD recovered during the mid-North American session on Friday after diving below…
The Franc surges nearly 1% as Trump’s tariff threats trigger risk aversion and deepen the US Dollar’s slide. USD/CHF breaks below 0.8250, nearing key support at May’s low of 0.8184. Bearish flag breakdown points to a possible test of the 2025 low at 0.8038. Traders pile into Swiss Franc as US protectionism and fiscal risks…
Price action suggests further Euro (EUR) strength, with 1.1400 now in focus, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note. Price action suggests further EUR strength 24-HOUR VIEW: “EUR rose to 1.1362 on Wednesday and then pulled back. Yesterday, Thursday, we pointed out that ‘the pullback in overbought conditions suggests EUR is…
UK CPI climbs to 3.6% YoY in April, well above BoE’s 2% inflation target. Core inflation accelerates to 3.8%, raising doubts over future rate cuts. US Dollar tumbles as G-7 stokes speculation of Washington favoring weaker Greenback. The Pound Sterling rose to a new year-to-date (YTD) high of 1.3468 against the US Dollar on Wednesday…
The relative strength index is one of the most popular tools in technical analysis. Traders around the world rely on it to measure the momentum of price movements and to identify potential turning points in the market. Whether you trade stocks, forex, or cryptocurrencies, understanding how the relative strength index works can help you improve…
USD/CAD may find initial resistance at its six-week high of 1.4016. The 14-day RSI remains slightly above 50, indicating continued bullish bias. The immediate support appears at the nine-day EMA of 1.3936. The USD/CAD pair is losing ground after registering gains in the previous session, trading around 1.3950 during the European hours on Monday. The…