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Gold Soars to New Heights Amid Economic Uncertainty
In a remarkable turn of events, gold has surged to fresh all-time highs, surpassing the $2,150 per ounce mark on Thursday. This significant uptick comes in the wake of a weakened dollar and declining Treasury yields, fueled by mounting expectations that the US Federal Reserve is poised to cut interest rates amidst growing economic concerns. Key […]
Bitcoin’s Soaring Trajectory: A Deep Dive into the 2023 Surge and its Ripple Effect on Crypto Markets
Introduction:The year 2023 has marked a remarkable journey for Bitcoin enthusiasts and investors alike, as the leading cryptocurrency has witnessed an impressive 32% surge in value since the year’s commencement. This surge not only indicates a prolonged rally for Bitcoin but has also sparked heightened speculative interest in smaller tokens. In this blog post, we […]
Roller Coaster Ride in the Crypto Market: Bitcoin Hits 27-Month High, Wipes Out $700 Million in Derivatives
The cryptocurrency market has once again displayed its notorious volatility, with Bitcoin soaring to a 27-month high above $64,000 before experiencing a sharp drop to $58,330. This roller coaster ride has left traders on the edge of their seats, witnessing a market that seems to have a mind of its own. Market Statistics:As Bitcoin experienced […]
Market Drivers – US Session, February 28
Markets seem to have entered a consolidative stage ahead of key data releases on both sides of the ocean, while Fed speakers and ECB officials equally appear aligned behind the idea of cutting rates later than the majority of investors anticipate. The USD Index maintained its gradual leg lower in place, always around the key […]
GBP attacks the resistance 27/2/2024
A subdued upward trajectory characterized the movements of the pound sterling against the US dollar, achieving its initial target at the price of 1.2690 and reaching its pinnacle at 1.2700. Today’s technical analysis leans cautiously towards optimism, contingent upon the pair’s ability to establish intraday stability above 1.2650. The 50-day simple moving average endeavors to […]
USD/JPY facing negative pressure 27/2/2024
The dollar/yen pair reached the initial target specified in the previous technical report, attaining the price of 150.80, which emerged as a robust resistance level, impeding further upward momentum. Today’s technical analysis, upon closer examination of the 4-hour chart, reveals the pair encountering the formidable resistance at 150.80, as denoted by the previous target. Furthermore, […]
U.S. New Home Sales Show Modest Growth in January 2024
The latest report from the US Census Bureau reveals that new home sales in the United States experienced a 1.5% increase in January 2024 compared to the previous month, reaching a total of 661,000 units. Although this marks a positive trend, the figure fell short of market expectations, which had anticipated a rise to 680,000 […]
Gold Prices Extend Rally on Weaker Dollar
Introduction: In a continuation of its upward trend, gold prices marked a sixth consecutive day of gains on Wednesday. The precious metal’s ascent was attributed to a combination of factors, including a softer dollar, safe-haven demand, and geopolitical tensions in the Middle East. Additionally, investors eagerly anticipated insights from the Federal Reserve’s minutes from their […]
Nvidia Faces 6% Drop, Biggest Loss 14 Months
Investors brace for impact as Nvidia’s shares plummet by over 6%, setting the stage for the company’s most significant single-day decline in approximately 14 months. All eyes on Wednesday’s results, with market expectations predicting a staggering 240% surge in quarterly revenues, reaching an impressive $20.6 billion. Despite Tuesday’s setback, Nvidia’s stock maintains a resilient posture, […]
Understanding Impact Declining Inflation Canadian Dollar
In recent economic developments, inflation in Canada has exhibited a notable decline, dropping from 3.6% to 3.3%. This shift in inflation rates is poised to have significant implications, particularly in the realm of monetary policy. Analysts are predicting an acceleration in the Canadian interest rate cut, and the effects are already apparent as the Canadian […]
