May 25, 2023 - Fundamental Reminder
On Wednesday, with the dollar higher and with hawkish comments from Fed Governor Waller and the minutes of the May meeting dampening market expectations for its June press, spot gold sank nearly $30 from its daily high to end down 0.88% at $1,957.33 per ounce.
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May 24, 2023-MHM European Perspective
During the Asian session on Wednesday (May 24), spot gold oscillated slightly higher and is currently trading around $1978.15 per ounce.
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What the US debt ceiling crisis could mean for the US dollar?
America's dominance in the global economy is facing significant challenges due to self-inflicted policy wounds. A critical impasse surrounding the debt ceiling has brought the spotlight back to the dollar’s unparalleled position in international trade and finance.
What the US debt ceiling crisis could mean for the US dollar?
America's dominance in the global economy is facing significant challenges due to self-inflicted policy wounds. A critical impasse surrounding the debt ceiling has brought the spotlight back to the dollar’s unparalleled position in international trade and finance.
May 24, 2023 - Fundamental Reminder
On Tuesday, spot gold V-shaped rebounded, hitting an intraday low of 1954.28; however, due to the lack of progress in debt ceiling negotiations and data indicating that the U.S. manufacturing sector is back in contraction, gold prices reversed their intraday losses and eventually closed up 0.29% at $1975.09 per ounce.
May 23, 2023-MHM European Perspective
Spot gold weakened slightly during the Asian session on Tuesday (May 23), once losing the 1960 mark, which was a new low for the past two trading days.
May 23, 2023 - Fundamental Reminder
On Monday, under pressure from renewed optimism in debt ceiling negotiations and hawkish comments from Fed officials, spot gold retreated, falling below the 1,970 mark during the session and eventually closing down 0.24% at $1,971.
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Market exuberance takes DAX to a new record high
Markets in Europe have observed another day of strong gains after the Nikkei 225 closed at its highest levels since 1990 and finished the week higher by 4.8%.
Ichimoku Cloud Analysis 19.05.2023 (GBPUSD, XAUUSD, USDCHF)
GBPUSD is pushing off the support area. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Kijun-Sen line at 1.2460 is expected, followed by a decline to 1.2275. An additional signal confirming the decline will be a rebound from the upper border of the descending channel. The scenario can be cancelled by a breakout of the upper border of the Cloud, securing above 1.2595, which will mean further growth to 1.2685.
Forex Today: US Dollar holds firm despite improving risk appetite
The US Dollar Index (DXY) rose for the second consecutive week despite improving market sentiment. The debt ceiling drama is set to continue as the deadline approaches, and although there are hopes for a deal, it has not been reached yet. The banking sector remains in the spotlight, particularly after Treasury Secretary Yellen's comments on Friday. Next week, the market will get a glimpse of the performance of the global economy with the preliminary May PMI that will likely weigh on sentiment.
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Market Closure in May
Please refer to the following table for the changes in the trading hours during the month of May 2023.
May 22, 2023-MHM European Perspective
On Monday (May 22) , spot gold oscillated slightly lower during the Asian session and is currently trading near $1,975.77 per ounce. Although the impact of the Fed chairman's slightly dovish speech on Friday is still fermenting, the dollar and U.S. bond yields fell, gold prices rebounded sharply on
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05/22 Market report
【Dow Jones】 【Euro】 【Gold】 【Crude Oil】
May 22, 2023 - Fundamental Reminder
On Friday, as debt ceiling negotiations resumed at an impasse and Yellen's speech reignited market concerns about the stability of the banking sector; Meanwhile traders cut their bets on another Fed rate hike after Powell's slightly dovish speech, spot gold pulled up sharply during the U.S. session, eventually closing up 0.94% at $1,976.56 per ounce. Despite recovering some of this week's losses, it still recorded its worst one-week performance since February. Spot silver rose more than 2% at on
STARTRADER launched a financial seminar in India to promote international financial cooperation
On the 14th and 18th of this month, STARTRADER, one of the fastest growing traders in the world, successfully held a far-reaching financial seminar in India. STARTRADER invited old and new partners to participate together with the company CEO Peter Karsten, aiming to deepen the relationship with partners and enhance their understanding and trust in STARTRADER.
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