Bitcoin is back above the $60,000 level as stock market strength boosts the world’s largest digital currency. BTCUSD – Daily Chart The price of BTC trades at $63,473 and has resistance just above $65,000. The larger target to the upside would be just ahead of the $70,000 level. Digital asset investment products saw a second straight week of…
ATFX, a leading global online trading platform, has announced completion of relocation of all MT Trading servers to Equinix Data Center in Hong Kong and OneZero Equinix Data Center in London, further enhancing its global trading infrastructure. This initiative aims to optimize services across China, Southeast Asia, Australia, MENA and LATAM ensuring that clients experience…
Summary Gold prices have surged to new highs following the Federal Reserve’s 50 basis point rate cut, fueled by geopolitical tensions and central bank buying, despite concerns of an impending recession. The price of gold has surged after the Federal Reserve slashed its interest rate by 50 basis points. XAUUSD – Weekly Chart The price of gold…
Summary The Bank of Japan’s decision to maintain steady interest rates, alongside an optimistic economic outlook, caused the USDJPY to rebound from its recent lows. The Bank of Japan held rates steady last week, leading to a bounce in the USDJPY. USDJPY – Daily Chart The USDJPY exchange rate has bounced from previous support at 140.23,…
US Stock Markets had a mixed day on Friday, but remained trading near recent record levels, with the Dow once again notching up a fresh closing high. Treasury yields drifted lower after comments from Fed members, but the dollar gained back a small amount of its recent lost ground. Oil prices drifted lower after recent…
What is EUR/USD EURUSD is the exchange rate value of one euro to US dollars. It indicates how many US dollars (USD) are needed to purchase one euro (EUR). For example, if the EUR/USD rate is 1.50, it means that 1 euro can be exchanged for 1.50 US dollars. EURUSD pair is the most traded…
Summary A 50 basis point rate cut from the Federal Reserve triggered a breakout in U.S. stocks, pushing the S&P 500 above key resistance levels. However, investors remain cautious of potential reversals and await further economic data. An aggressive 50 basis points rate cut from the Federal Reserve has led to a breakout in US stocks. SP500…
Summary The GBPUSD rose after the Bank of England held interest rates steady at 5%, with policymakers signalling caution on inflation while markets anticipate potential rate cuts in the months ahead. The GBPUSD exchange rate gained on Thursday after the Bank of England kept interest rates steady at 5%. GBPUSD – Daily Chart The price of the CH50…
Intel (NYSE:INTC) shares were 2% higher on Wednesday after the company confirmed plans to split its foundry unit and also announced a chip deal with Amazon. INTC – Daily Chart A rally in INTC stock during 2023 was halted in 2024 and the stock has continued to slump with a current price of $21. The…
The US central bank cut interest rates by 50 basis points on Wednesday but did not create volatility for the EURUSD exchange rate. EURUSD – Daily Chart The price of EURUSD was trading at the 1.1140 level where there is some resistance ahead of the larger 1.1277 barrier. There are supports at 1.10 and 1.06…
