Silver prices (XAG/USD) have shown an upward trend on Monday, with the price of Silver trading at $27.39 per troy ounce, reflecting a 0.64% increase from the previous Friday. This increase marks a 7.54% rise since the beginning of the year. Additionally, the Gold/Silver ratio, which indicates the number of troy ounces of Silver needed
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The EUR/USD pair is trading around 1.0710 in the early Asian trading hours on Monday, gaining ground against the USD. The softer US Dollar below the 106.00 mark is providing support to the major pair. This comes as the US PCE inflation rose by 2.7% YoY in March, compared to 2.5% prior, exceeding expectations. The
The Japanese Yen (JPY) has been experiencing bearish pressure lately, trading at its weakest level against the US Dollar in over three decades. This decline comes following the decision by the Bank of Japan (BoJ) to keep monetary policy settings unchanged. With the key interest rate target range steady at 0%-0.1%, the BoJ has stated
The Gold price has seen some upward movement amid a modest USD downtick recently, but the momentum lacks follow-through. A softer risk tone has also provided support to the precious metal, although the hawkish expectations around the Federal Reserve have capped any significant gains. Traders are closely watching the upcoming US macroeconomic data releases to
The Indian Rupee is currently trading on a softer note due to increased US Dollar demand from importers, as well as expectations that the US Federal Reserve will not be cutting interest rates anytime soon. Despite this, the positive outlook for the Indian economy is expected to lend support to the INR and limit the
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The GBP/JPY cross has shown some positive movement in response to the release of the optimistic UK Services PMI. The flash UK Services PMI for April exceeded expectations, rising to 54.9 from the previous month’s final reading of 53.1. This news has given the British Pound (GBP) a boost, leading to an upward trend in
The Japanese Yen has seen some support from speculations about a potential government intervention in the markets. The possibility of Japanese authorities stepping in has provided a glimmer of hope for investors amidst the currency’s struggles. However, the widening gap in interest rates between the US and Japan continues to pose a significant challenge for
Japanese Finance Minister Shunichi Suzuki recently made a statement regarding foreign exchange (FX) moves, emphasizing the government’s readiness to respond appropriately to excessive fluctuations in the market. He expressed a high sense of urgency in closely monitoring FX moves and highlighted the importance of addressing any issues promptly. Factors Influencing the Japanese Yen The Japanese
The Elliott Wave Analysis of Visa Inc. presented in the article provides insights into the daily and 4-hour chart movements of the stock. The analysis focuses on identifying the current phase as a corrective counter-trend phase with a ZigZag structure identified as Intermediate wave (4). The direction suggests a potential bottoming out in wave (4),
The gold price seems to be trading softer near $2,385 on Monday, with a consistent hawkish shift in market sentiment. This change in sentiment could potentially dampen the demand for the yellow metal, as investors may turn to other options in light of the Federal Reserve’s hawkish comments. While the escalating tensions in the Middle
Recent reports of Israeli missiles striking a site in Iran have heightened tensions in the Middle East, leading to a wave of risk-aversion across global financial markets. The uncertainty surrounding the situation has caused investors to flock to safe-haven assets, such as Gold, pushing prices towards record highs. The S&P 500 futures have taken a