June 9, 2023-MHM European Perspective
Spot gold fluctuated in a narrow range on Friday (June 9) in Asia, currently trading around $1964.36 per ounce. Poor overnight US preliminary data and a sharp fall in the dollar helped gold rise.
June 9, 2023 - Fundamental Reminder
America's Labour market is starting to show signs of cooling. Data on Thursday showed the number of Americans filing for USD Initial Jobless Claims accelerated more than expected last week to the highest level since the week ended Oct. 30, 2021.
Gold Price Forecast: XAU/USD bulls clean up within daily range
The Gold price rallied to a high of $1,970.54 from a low of $1,940.10 on Thursday as the US Dollar and lower bond yields weakened with the United States reporting the largest rise in initial jobless applications since the autumn of 2021. At the time of writing, the Gold price is stationary towards the close of the US forex session at $1,966.
WCG Markets:2023-06-09
WCG Markets:2023-06-09
DOLLAR IN IMPORTANT LEVELS $791
The U.S. Dollar Index, which tracks the dollar against six other important currencies, is hovering at levels it hadn’t reached in 20 years. Since the start of the year, it has gained 8 percent; in the last 12 months, it has risen 14 percent. Against the Japanese yen, the dollar has risen more than 13 percent this year alone.
Debt ceiling suspended, but challenges persist
Based on the recent piece of opinion released by some news agency highlighted that the latest budget deal successfully suspended the debt ceiling, averting a potential debt default. However, it also pointed out that this measure does little to address the United States’ long-term fiscal challenges, as US deficits continue to accelerate.
June 8, 2023-MHM European Perspective
Spot gold rebounded slightly during Asian hours on Thursday (June 8) and is now trading at US $1946.92 an ounce, as the US dollar weakened slightly.
June 8, 2023 - Fundamental Reminder
he Bank of Canada, a hawkish bellweker in the G7, unexpectedly raised interest rates by 25 basis points last night, becoming the first G7 central bank to resume tightening after a pause.
WCG Markets:2023-06-08
WCG Markets:2023-06-08
How to Use Awesome Oscillator in Forex Trading
The Forex Awesome Oscillator, or AO for short, is a technical indicator with a fascinating history and an exciting potential for helping traders make more informed decisions in the foreign exchange market. Don’t be fooled by its silly name, this technical indicator is the Bruce Lee of Forex trading, packing a punch of accuracy and awesomeness in every signal. So, sit back, relax, and get ready to navigate the complex world of forex trading with confidence!
Market Closure in June
Please refer to the following table for the changes in the trading hours during the month of June 2023.
Forex Sentiment Analysis: Profiting from the Mood Swings of the Market
Like Facebook, the forex market is a complex network of users who want to spam our news feeds. No matter how much you, Warren Buffet, or John from the pizza store may joke, the market essentially reflects how all traders feel about it. While many traders use fundamental and technical analysis to achieve the right mix, sentiment analysis is something you should not ignore. Here's why!
June 7, 2023-MHM European Perspective
Spot gold traded in a narrow range during Asian hours on Wednesday (June 7), trading near $1,963.35 an ounce. In recent trading days, there are few economic data and the Federal Reserve has entered a quiet period.
June 7, 2023 - Fundamental Reminder
Markets were more muted Tuesday, but the dollar index closed up 0.14% at 104.15 after the survey showed only 51% of respondents believe a U.S. recession is imminent, down from 55% in May and the lowest level since May 2022.
USD/CAD Price Analysis: Bulls taking control and eye significant correction
USD/CAD is been in the hands of the bulls at the start of the week while the yield on benchmark government debt climbed and despite a surprise in the US economic data front. Nevertheless, the technical outlook remains bullish as for the following analysis:
Saudi oil cut sees oil prices hit one-month highs
European markets have got off to a slow start to the week with little in the way of positive catalysts, weighing on the DAX and CAC40.
S&P 500 ends lower as traders eye potential pause in rate hikes
The S&P 500 ended lower on Monday as investors weighed whether the U.S. Federal Reserve might pause its interest rate hikes at its upcoming policy meeting, while Apple briefly hit a record high before losing ground.
Oil price cheers OPEC+ verdict, slightly upbeat markets to print three-day uptrend
Global markets begin the trading week on a mildly positive front as US policymakers managed to avoid the debt payment default, despite the initial ruckus. Adding strength to the cautious optimism is the firmer China Caixin Services PMI and hopes of slower rate hikes from the key central banks ex-Fed.
Ichimoku Cloud Analysis 05.06.2023 (EURUSD, USDJPY, NZDUSD)
EURUSD has pushed off the signal lines of the indicator. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the upper border of the Cloud at 1.0715 is expected, followed by a decline to 1.0465. An additional signal confirming the decline will be a rebound from the upper border of the descending channel.
WCG Markets:2023-06-07
WCG Markets:2023-06-07
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