Oil prices rise amid news of production cuts
Based on the trading data from Thursday, there's an upward trend in global oil prices. Brent oil is currently priced at $84.55 per barrel, while North American WTI oil is hovering around $80.90 per barrel. The oil price hike can be attributed to several factors.
NZD/USD Settles Below Key Support, More Losses Ahead?
Upon analyzing the 4-hour chart, it is evident that the pair acquired a bearish momentum post the breach of the 0.6120 support level. Notably, there took place a closure beneath the 0.6100, the 100 simple moving average (depicted in red for a 4 hour duration), and the 200 simple moving average (marked in green for a 4 hour stretch).
GBPUSD Level Ahead Of BoE Rate Decision
GBPUSD is trading towards key support ahead of the Bank of England rate decision. Will prices remain in an upward trend?
Fitch Downgrades the U.S. Credit Rating: Unpacking the Implications
Fitch Ratings, in a noteworthy action, has lowered the United States' Long-Term Foreign-Currency Issuer Default Rating (IDR) from 'AAA' to 'AA+'. This announcement, made on August 1, 2023, mirrors apprehensions concerning the nation's fiscal stability, governance norms, and debt handling, consequently indicating to investors and international markets about a heightened risk when lending to the United States. The immediate effect of this downgrade remains uncertain, especially as markets are presently performing poorly.
Market Closure in August
Please refer to the following table for the changes in the trading hours during the month of August 2023.
The US dollar rose and fell on Thursday, with gold prices approaching their lowest in over three weeks.Rising US dollar and US bond yields have reduced the attractiveness of gold, waiting for non-farm data
The US dollar rose and fell on Thursday, with gold prices approaching their lowest in over three weeks.Rising US dollar and US bond yields have reduced the attractiveness of gold, waiting for non-farm data
AUDJPY analysis for 03.08.2023
On the 4-hour timeframe for AUDJPY, the RSI smoothly shifted below the centerline, signaling a potential bearish bias. Recent price action displayed a sharp bearish movement followed by an equally sharp bullish trend. Furthermore, the shorter moving average crossing below the longer moving average confirms a potential downtrend. Traders should exercise caution and closely monitor price movements for potential selling opportunities.
SILVER PRICE ANALYSIS: XAG/USD’S ADVANCE HALTS AND FINDS SUPPORT AT THE 20-DAY SMA
On Tuesday, the XAG/USD Silver spot price significantly dropped, mainly due to the USD strength. Attention is on labour market data released as investors are modelling their expectations towards the next Federal Reserve (Fed) meeting. Meanwhile, the greenback trades strong agains most of its rivals, with the USD DXY index rising towards the 102.30 area.
GOLD GOING TO $2000?
Gold Trading: As predicted by many market players, the Fed has finally raised its interest rate again by 25 bps. However, there is an anomaly where even though the Fed's interest rate has increased, the price of gold has actually increased.
Fundamentals of the GBP/JPY
GBP/JPY gains traction for the second consecutive day on Monday, hitting a three-week high early in the European session. Price quotes currently sit in the 182.80-182.85 area, indicating a rebound of over 650 points from Friday's low touched on June 13. There is a heavy supply tone surrounding the Japanese Yen (JPY).
Mai hui MHmarkets: USD has entered a pressure-intensive zone and U.S. crude oil has fallen back big time!
On Thursday (August 3), spot gold shook slightly lower during the Asian session, and is currently trading near $1934.38 per ounce. The U.S. private jobs growth in July that came out overnight exceeded expectations, fueling market bets on more monetary policy tightening and continuing to support the U.S.
Mai hui MHmarkets: August 3, 2023 - Fundamental Reminder
Because of the "ADP" data again strong, Wednesday, spot gold before the U.S. market fell sharply, lost the 1940 mark in the plate, and once fell to $1932.97 intraday lows, down more than $20 compared to the daily highs, and ultimately closed down 0.49% at $1934.76 per ounce; spot silver fell to the $24 mark and finally closed down 2.39% at $23.71 per ounce.
Support and Resistance Levels: Forex, Stocks, Commodities & Crypto
Support and resistance play an important role in the analysis and understanding of chart patterns in different financial markets. The ability to recognize these levels allows retail traders to make better trading decisions, lower their risk, and possibly achieve better rewards by knowing where to enter and exit trades. Discover how to use support and resistance to your advantage!
BRICS to Replace US Dollar With a Gold-backed Trading Currency
How long will the dollar remain the world’s dominant currency? This August, the BRICS economic alliance will gather in South Africa and introduce a new currency designed to remove the dollar from its throne.
Navigating Southeast Asia's Developing Trading Markets with Asia's Best Forex Broker, Lirunex
Lirunex underscores the commodities and trading brokerage's commitment to excellence and its contribution to empowering traders in the dynamic Southeast Asian (SEA) market.
Vantage launched a trading competition with a $50,000 prize pool
Vantage, a global multi-asset broker, has announced the launch of its 2023 Live Trading Competition. The competition will offer a total prize pool of $50,000, and will be open to all traders who meet the minimum deposit requirements.
08/03 Market report
【Dow Jones】 【Euro】 【Gold】 【Crude Oil】
Vantage launched a trading competition with a $50,000 prize pool
Vantage, a global multi-asset broker, has announced the launch of its 2023 Live Trading Competition. The competition will offer a total prize pool of $50,000, and will be open to all traders who meet the minimum deposit requirements.
WCG Markets:2023-08-03
WCG Markets:2023-08-03
CWG Markets：The US dollar rose on Wednesday driven by strong ADP data, shrugging off the impact of Fitch's downgrade of the US rating
CWG Markets：The US dollar rose on Wednesday driven by strong ADP data, shrugging off the impact of Fitch's downgrade of the US rating
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