The US Dollar is facing its worst week in over one year. Traders pull their money out of the Greenback and into domestic currencies. The US Dollar Index faces devastation and devalues over 3% so far this week. The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major … Read more
NZD/USD refreshes weekly high near 0.5750 as the New Zealand Dollar strengthens after Chinese officials left the door for additional monetary stimulus. PBOC Pan Gongsheng indicated that more interest rate cuts are on the table. Easing Trump tariff fears have diminished the risk premium of the US Dollar. The NZD/USD pair posts a fresh weekly … Read more
Silver prices (XAG/USD) fell on Thursday, according to FXStreet data. Silver trades at $32.48 per troy ounce, down 0.65% from the $32.69 it cost on Wednesday. Silver prices have increased by 12.41% since the beginning of the year. Unit measure Silver Price Today in USD Troy Ounce 32.48 1 Gram 1.04 The Gold/Silver ratio, which … Read more
People’s Bank of China (PBOC) Governor Pan Gongsheng said on Thursday that the central bank “will cut interest rates and Reserve Requirement Ratio (RRR) at an appropriate time.” Additional quotes Will study, establish new structural policy tools for monetary policy. Will resolutely prevent exchange rate overshooting risks. Market reaction The Chinese-proxy, the Australian Dollar (AUD) … Read more
Today’s Elliott Wave analysis covers the Australian Stock Exchange (ASX) stock NEWMONT CORPORATION (NEM). A corrective wave is currently forming and entering its final phase, potentially opening a bullish opportunity for traders interested in ASX:NEM. ASX: NEM Elliott Wave technical analysis Function: Major Trend (Intermediate Degree, Orange). Mode: Motive. Structure: Impulse. Position: Wave C (Grey) of Wave (2) – Orange. Details: The wave count has been … Read more
Here is what you need to know on Thursday, March 6: Following another volatile trading day, financial markets remain relatively quiet early Thursday as investors await the European Central Bank’s (ECB) monetary policy announcements. Ahead of Friday’s highly-anticipated February employment report, the US economic calendar will feature weekly Initial Jobless Claims and Unit Labor Costs data … Read more