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NZD/USD Price Analysis: Bullish momentum picks up, buyers rejected at the 100-day SMA
The daily indicators hint at a strengthening bullish momentum. Hourly indicators are consolidating after hitting overbought conditions earlier in the session. If the buyers regain the 100-day SMA, the bearish trend will be threatened. At the end of the week, the NZD/USD rallied to around 0.6050, up
EUR/USD breaks above recent congestion as US NFP miss drives down Greenback
EUR/USD found a fresh high above 1.08 after NFP figures sparked rate cut hopes. US economic data came in broadly softer on Friday. Coming up next week: European Retail Sales, US consumer sentiment. EUR/USD drove into a fresh weekly high on Friday, breaking above recent congestion after a broad miss
Silver Price Analysis: XAG/USD test key resistance levels amid uptrends
Silver dips to $26.54, down 0.43%; 'dragonfly doji' hints at possible uptrend. Finds support at 61.8% Fibonacci level ($26.41); crossing $27.00 could boost bullish momentum. Downside risk if below May 2 low of $26.02, aiming for 50-day MA at $25.79. Silver price uptrend continued during the week des
Understanding the weaponization of the dollar
Money Metals' Midweek Memo host Mike Maharrey recently interviewed Saleha Mohsin, a senior correspondent at Bloomberg News and author of the new book "Paper Soldiers: How the Weaponization of the Dollar Changed the World Order." The discussion delved into the motivations behind Mohsin's book and exp
Turkey, China, and India lead another solid month in central bank Gold buying
Central banks continued to steadily add gold to their reserves in March. On net, central banks globally increased their gold holdings by 16 tons, according to the latest data compiled by the World Gold Council. Buyers added 40 tons of gold to their reserves. This was offset by a net 25 tons in sales
GBP/JPY flounders near 192.00 after suspected BoJ interventions flatten markets
GBP/JPY lethargic near 192.00 handle. Overactive BoJ financing reports tips hat towards FX intervention. Coming up next week: BoE rate call, UK GDP. GBP/JPY is trading flat near the 192.00 handle after the Bank of Japan (BoJ) is suspected of directly intervening in FX markets to prop up the battered
USD/NOK dives on weak NFP figures from April
US NFP increased by 175K in April, below expectations of 243K, following March’s revised increase of 315K. Unemployment rose slightly to 3.9% while wage inflation decelerated. The odds of a cut in September by the Fed rose significantly. The USD/NOK pair is trading at 10.861, exhibiting a decline of
Industrial demand sets record and other Silver news
Industrial demand for silver set a record in 2023 driven by a significant increase in silver offtake in the solar energy sector. This was one of several stories on the silver market featured in the latest edition of Silver News published by the Silver Institute. Industrial demand for silver came in
Insights into monetary policy and the future of the U.S. dollar
In a recent episode of The Bryan Hyde Show, Bryan Hyde interviewed Mike Maharrey, an analyst and writer associated with Money Metals Exchange and the Tenth Amendment Center. Maharrey brought his expertise in macroeconomics and constitutional principles to discuss pressing issues in monetary policy a
USD/JPY Price Analysis: Bears charge helped by intervention rumors, eye 152.00
USD/JPY drops 0.49%, extending a downtrend possibly sparked by earlier BoJ intervention. Bearish harami pattern observed; recovery contingent on breaking 153.00 resistance. Key support at 152.00; further declines may target April's low of 150.81. The USD/JPY dropped for the third straight day and ac
EUR/JPY Price Analysis: Bearish indications dominate and sellers consolidate below the 20-day SMA
The daily RSI and MACD reflect a negative trend, hinting at increasing selling pressure. Hourly chart indicators echo the bearish sentiment, with RSI around the 40 level and MACD showing a lack of buying momentum. The EUR/JPY pair declined to 164.72 on Friday, reflecting subtle bears' influence with
Gold price retreats from daily highs as US NFP dampens demand
Gold peaked at $2,310 but reversed gains, unable to surpass the May 2 high of $2,326. US Nonfarm Payrolls missed expectations, leading to lower real yields and diminished safe-haven appeal for Gold. Federal Reserve officials offer mixed signals, with Governor Bowman ready to hike rates. Gold erased
Dow Jones Industrial Average climbs over 400 points on volatile NFP Friday
Dow Jones gains 400-plus points as investors raise bets on rate cuts. US data broadly softer on key labor print. Tech stocks dragging Dow Jones higher. The Dow Jones Industrial Average (DJIA) climbed 1.15% on Friday after a broad miss from US Nonfarm Payrolls (NFP) and other key labor data revealed
Sanctions reach won't disrupt the dollar's reserve currency status
Summary In recent times, the U.S. dollar's status as the global reserve currency has been questioned, more so now that the reach of U.S. sanctions capabilities has been expanded to seize foreign government dollar assets. But despite the risk of having assets confiscated, in addition to recent effort
Mexican Peso struggles as US economic data fuels Fed rate cut speculation
Mexican Peso weakens close to 0.2% after disappointing US job figures and service sector contraction. Mexico's Gross Fixed Investment shows mixed results; Private Consumer Spending continues to grow, signaling economic strength. Bank of Mexico's latest poll anticipates inflation at 4.2% by 2024, wit
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