Trade ideas from FBS The US central bank turned the market upside down. It signaled that higher inflation is a concern and that it’s considering tapering policy. The USD soared versus other major currencies, while gold headed for the biggest weekly loss in 15 months. Let’s see what new moves await us this week! Trade
By Ravindra Rao MCX Gold August futures witnessed a healthy correction during the week gone by and formed a bearish ‘Marubozu’ candlestick pattern, which signals towards a bearish reversal in price trend. The price is now trading below the 250-day EMA (Rs. 47360), which could be the key resistance for the August futures. Similarly, on
Dollar is maintaining much of this week’s gains as focus now turns to FOMC statement and economic projections. There is prospect of further rally for the greenback should some policymakers pull ahead their rate hike expectations. But the overall reactions would more depend on interaction with other markets like stocks and yield. As for the
The Australian dollar was the laggard this week It was a big week in the FX market as the Fed flipped the script and turned hawkish. That caused an unwind in reflation trades and the commodity currencies were in the crosshairs. It speaks volumes that Australian added 115K jobs compared to 30K expected and it
NEW YORK: Oil futures rose on Friday, reversing early losses and set for a fourth week of gains after OPEC sources said the producer group expected limited U.S. oil output growth this year despite rising prices. Officials at the Organization of the Petroleum Exporting Countries got the U.S. production outlook from industry experts, OPEC sources
Dollar is consolidating some gains in Asia session today but remains overwhelmingly the strongest for the week. Yen is following closely as second best. Yet, there is no one-sided risk aversion in the markets to help Yen against Dollar. US stock indexes ended mixed overnight only, while Asian markets are trading in narrow range. Swiss