Gold price climbs despite high US yields, eyes on ADP data
Gold prices edged higher as investors navigated the impact of elevated U.S. Treasury yields and anticipated key economic data. Spot gold rose 0.2% to $1,832.50 an ounce, finding resilience despite the benchmark 10-year yield holding near multi-year highs. The metal’s upward momentum reflects its safe-haven appeal amid concerns over economic stability. Focus now shifts to […]
GBP/USD churns near 1.2700
The GBP/USD pair is steady around the 1.2700 mark, reflecting cautious trading as investors weigh mixed economic signals. The pair remains trapped in a narrow range, with traders hesitant to commit to major moves ahead of key data releases. Lingering concerns about global economic stability and central bank policy continue to influence sentiment. While the […]
South Korean Won: KRW stabilizes after South Korean Parliament axes martial law call
The South Korean Won steadied in currency markets following heightened volatility earlier in the week, triggered by political turmoil. The currency’s stabilization comes after the South Korean Parliament decisively voted against a controversial martial law proposal, easing investor concerns over potential civil unrest. Market participants reacted cautiously to the political developments, with the KRW trading […]
Australia’s Judo Bank Services PMI rises to 50.5 in November vs. 49.6 expected
The Australian services sector saw a modest recovery in November, with the Judo Bank Services PMI climbing to 50.5, surpassing expectations of 49.6. This marks a return to growth, as any reading above 50 indicates expansion, contrasting with October’s contraction at 49.8. The data signals improving conditions in the services industry, supported by resilient domestic […]
Dollar rides high on flagging euro and yuan
The U.S. dollar climbed higher on Tuesday, buoyed by the continued weakness of the euro and Chinese yuan, as mixed economic signals weighed on other major currencies. The dollar index remained near a one-week high of 104.68, reflecting investor preference for the greenback amid growing concerns about global economic stability. The euro fell to $1.0473, […]
The SP500 is almost at $6060. What’s next?
The S&P 500 is closing in on the unprecedented $6060 milestone, fueled by resilient investor sentiment and a rally across tech and consumer discretionary sectors. Despite broader economic uncertainties, key earnings reports and favorable economic data have spurred confidence, driving the index closer to this landmark level. Analysts caution that while the momentum is strong, […]
Bitcoin’s push toward $100,000 runs into a wall of resistance
Bitcoin’s journey toward the highly anticipated $100,000 mark has encountered significant resistance, dampening investor optimism. After recent rallies fueled by speculation of institutional adoption and regulatory clarity, the cryptocurrency now faces a critical test as market momentum wanes. The digital asset briefly surged above $38,000 this week, driven by renewed enthusiasm over potential Bitcoin ETFs […]
Forex trading short GBP/JPY, gold falls to support, NFPs in focus for the Fed [Video]
Forex markets have seen increased activity, with traders taking positions on a potential GBP/JPY short as the British pound faces pressure from weak economic data. Meanwhile, the Japanese yen has gained traction as a safe-haven currency, leading to a growing divergence between the two currencies. This shift in sentiment comes ahead of the crucial Non-Farm […]
India gold price today: Gold edges higher
Gold prices in India saw a notable rise on Tuesday, reflecting a broader trend in global markets. The yellow metal gained 0.6%, driven by increased investor interest in safe-haven assets amid ongoing economic uncertainties and fluctuating currency markets. The boost in gold prices coincides with growing geopolitical tensions that have prompted traders to seek stability […]
Ripple eyes new all-time high at $3.57 as WisdomTree files for XRP ETF
Ripple’s XRP is gaining momentum, with bulls aiming for a new all-time high of $3.57. This surge in optimism comes on the heels of WisdomTree, a leading asset management firm, filing for a new XRP-focused ETF (Exchange-Traded Fund). The move signals growing institutional interest in XRP and highlights its expanding role in the crypto market. The filing by WisdomTree is […]