Category: Day
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It’s the MLF day in China – No rate cut expected from the People’s Bank of China
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The People’s Bank of China sets the medium-term lending facility rate on the 15th of each month. The rate is currently 2.3%, after the People’s Bank of China made a surprise interest rate cut on the 25th of last month! There is a widespread expectation that there will be no…
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TA of the Day: GBP/USD Bullish Signs Emerge! Is a Trend Reversal Underway?
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the US Dollar The Australian dollar fell against major currencies today as signs of easing inflation emerged, further supporting the possibility of a Federal Reserve interest rate cut in September. The U.S. consumer price index, a key measure of inflation, rose 2.9% annually, just 0.1% below June’s rate. This was…
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TA of the Day: USD/JPY Chills Out And Consolidates But For How Long?
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the Japanese Yen The pound fell against the US dollar on Monday, after a strong run last week. Markets, especially Japanese ones, were rocked last week by the end of the once-popular yen carry trade, which involves borrowing yen at a low cost to buy other currencies and assets that…
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Kickstart the FX trading day for Aug. 9 w/a technical look at the EURUSD, USDJPY & GBPUSD
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In the opening video for August 9, I take a look at three major currency pairs, EURUSD, USDJPY, and GBPUSD from a technical perspective. For the EUR/USD pair, the pair is trading up and down during today’s trading, but has found resistance from sellers against its 100-hour moving average at…
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US stocks are trading mixed to open the final trading day of the week
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Major US stock indexes are trading mixed in early trading. The Nasdaq and S&P were little changed. The Dow Jones Industrial Average was down. A picture of the market 11 minutes after opening, showing: The Dow Industrial Average fell -125.70 points, or -0.32%, to 39,320.80. The S&P 500 fell 2.89…
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NZDUSD finds willing sellers against the 100 day MA this week
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The NZD/USD pair fell to its lowest level this year on Monday on the back of a sharp decline in the Nikkei 225 (-12.4%). However, this new low was only a few pips above the April 2024 low, and the price rose sharply. The momentum stalled near last week’s highs…
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TA of the Day: Solana’s Surprising Comeback! What’s Next for SOL After Crypto Market Turmoil?
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Cryptocurrencies It has seen a recovery from Monday’s massive sell-off, with Solana (SOL) leads the charge. Solana (SOL) has emerged as a strong competitor in the cryptocurrency market, often referred to as the “Ethereum Killer“.” Despite recent volatility, Solana offers compelling reasons for crypto traders to consider adding it to…
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TA of the Day: Key Support Level in Sight for USD/CAD ?
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the Canadian Dollar (scoundrel) strengthened against the US dollar (American dollar), hit a two-week high as market volatility eased. As the turmoil fueled by yen-financed debt reductions and uncertainty over U.S. interest rate cuts eases, market participants are regaining confidence in the Canadian dollar. However, the Bank of Canada remains…
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S&P index getting close to its 100 day moving average
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The S&P 500 is trading near its all-time high, up 115 points or 2.23% at 5301.95. The high so far is 5303.17. This puts the price 5.6 points away from its 100-day moving average. This moving average is at 5308.75. The price hit a low last Friday near this level…
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TA of the Day: Gold Drops Amid Global Market Sell-Off But Bounces. Will the Uptrend Resume?
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Despite being considered a safe haven, gold has not been immune to Market sentiment shifts to a major risk aversion With market participants selling assets on a massive scale. Backed by recession fears and Clearing the global pregnancy tradeGold fell more than 1% today, reaching $2,410 an ounce. The sell-off…
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NZDUSD tumbles lower and rocket higher in a volatile trading day. What next?
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The NZD/USD pair had a rollercoaster ride today as the pair hit a new low for the year (but only by about 3 pips). This low broke the lows of April and July. After the brakes failed, the price rocketed higher, erasing all the declines and trading higher during the…
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Ethereum ETFs See 2nd Green Day Since Launch
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Ethereum exchange-traded funds (ETFs) have recorded their first green day after a four-day losing streak. A week after their launch, massive inflows, led by Grayscale’s Ethereum Trust (ETHE), have outpaced the stellar start of the ether-based investment product. Ethereum ETFs Outperform Outflows The approval of Ethereum (ETH) spot ETFs has…
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Ethereum ETFs See 2nd Green Day Since Launch
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Ethereum exchange-traded funds (ETFs) have recorded their first green day after a four-day losing streak. A week after their launch, massive inflows, led by Grayscale’s Ethereum Trust (ETHE), have outpaced the stellar start of the ether-based investment product. Ethereum ETFs Outperform Outflows The approval of Ethereum (ETH) spot ETFs has…
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TA of the Day: Will Copper’s Support Hold and Ignite a Major Rally?
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copper Oil prices fell sharply, falling to their lowest level in four months on concerns about slowing Chinese demand and rising production. China is the world’s largest consumer of copper, using it extensively in construction, manufacturing, electronics and energy sectors. Because of this, the amount of copper China needs has…
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EURUSD falls below 200 day MA but finds support buyers near the 100 day MA
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The EUR/USD pair fell below the 200-day moving average at 1.08173, preceded by an extension of the decline on the back of a technical breakout. However, once the price reached the 200-bar moving average on the 4-hour chart and the 100-day moving average between 1.07946 and 1.07994, buyers stopped the…
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How to watch, stream Simone Biles and Day Four of the 2024 Olympics live online free without cable, on NBC
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Simone Biles has dominated gymnastics for nearly a decade, but she hasn’t won an Olympic gold medal since Rio 2016. That could end Tuesday when Biles and the U.S. women’s team enter the artistic gymnastics finals. Biles’s final and the women’s final are undoubtedly the highlight of a busy day…
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TA of the Day: Bitcoin Hits $70,000 But Reverses Sharply. A Minor Blip or a Major Trend Shift?
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Bitcoin price rose above $70,000 for the first time since early June, but was met with a wave of selling, causing it to fall by more than 3%. It is not yet clear what caused the price move, but it may be related to the US government’s transfer of more…
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Donald Trump Reiterates Support For Crypto, Pledges To Fire Gary Gensler On Day 1
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Former US President and Republican presidential candidate Donald Trump has reiterated his unwavering support for the cryptocurrency industry. Speaking at a Bitcoin conference in Nashville, Tennessee, the billionaire and former Bitcoin critic outlined several crypto adoption plans he intends to implement in office if elected, some of which include major…