Traders and investors will be pleased to learn that oil prices made an impressive comeback in the last 24 hours. The market was looking ahead to the latest round of OPEC+ production cuts that were to be announced in the near future. The move was designed to boost oil prices and help the global economy …
Despite the Euro’s rout against the dollar this year, a reversal of the decline could be on the cards in December. The ECB is in the midst of an aggressive tightening cycle, which is likely to extend into next year. Moreover, a rebound in retail sentiment could fuel a further push towards higher highs in …
FTX’s collapse continues to reverberate throughout the crypto space. FTX and Alameda Research are two companies that have been linked in recent weeks, and both firms have suffered major losses due to their failure to operate as expected. While the collapse of Terraform Labs was the first big event to impact the crypto industry, FTX …
The AUD/USD is nearing an October high after clearing its high from late September. A rebound in the employment data in Australia is expected to halt the recent drop and support the currency pair. However, a below-forecast print would be bearish for the Aussie dollar as it would sap bets on an RBA rate hike …
AUD/USD’s recent selloff has caused the Relative Strength Index (RSI) to slip back into oversold territory. This is a bad sign for the currency pair, as further losses are likely. However, a move above 30 on the RSI will likely result in a near-term rebound. The selloff in the AUD/USD may be overdone, as the …
As the September Fed Meeting draws near, investors are likely to be closely watching the latest US inflation data. The Consumer Price Index (CPI) showed a rise of 8.3% year over year in August. The data was a tad below expectations, but still a big jump from last year. Despite the data, investors are still …
Twitter is used by many traders to stay on top of breaking news and connect with top influencers. It also helps to connect with other social-digital ecosystems. Kenah began using Twitter by accident after high school. He began collecting followers from friends, former colleagues, and other sources. Soon, he realized that accountability mattered more than …
Gold price is trading below its recent all-time high, but it has held above a key support level and may be ready for another phase of growth. Investors are concerned about a recession and have been seeking safe-haven assets. In addition, the recent pandemic in many parts of the world has contributed to the demand …
The Canadian dollar is continuing to head higher after yesterday’s BoC decision. As I write this, the USD/CAD is trading at 1.2654 in the North American session. Overall, USD/CAD is down 0.78% for the day. If the Canadian dollar continues its uptrend, it could break below the recent uptrend line and extend its rally to …
USDJPY has made its way to a fresh six-year high on renewed BoJ bond buying, as Japan’s loose monetary policy continues to weigh on the yen. The move is further fueled by rising US bond yields. In fact, the yen is expected to maintain its strong position for the foreseeable future. The dollar has been …