USD/CAD slumped to its lowest levels since February of 2018 in early trading on Thursday. The US dollar weakened against its Canadian counterpart amid diverging central bank policies, firmer oil prices and better than expected Canadian retail sales figures.
Etherium extended its gains on Wednesday to reach fresh record highs above $2,700. The world’s second largest cryptocurrency by market cap was boosted by news that the European Investment Bank (EIB) plans to launch an inaugural “digital bond” sale on the Ethereum blockchain network.
Copper prices continued to soar on Monday, reaching the highest levels since August of 2011 and nearing the record highs from earlier the same year. Copper is often used as a gauge for global economic health, giving rise to its moniker ‘Dr. Copper’. The industrial metal has been lifted by hopes of a global economic … Read more
Bitcoin entered the week on the front foot, after slipping to its lowest levels since early March during the Asian trading session. The world’s largest cryptocurrency by market cap reached a record high of $64,870 on April 14th, having received a boost from the Coinbase IPO the same day. Analysts at JPMorgan Chase struck a … Read more
Gold has formed a double bottom reversal pattern on the daily chart. Price has risen from the lows of $1,676 and is nearing the neckline at $1,755. A breakout with good volume above this level would be conidered bullish from a technical perspective. Gold prices were lifted this week by a weaker US dollar and … Read more
Gold and silver lost ground in early trading on Tuesday, while a robust US dollar and rising bond yields dampened their appeal. Looking at the gold daily chart above, we can see that the yellow metal has fallen to its lowest level in over a week and the major low of $1,675 has come into … Read more
Bitcoin retreated modestly in early trading on Friday, after seven consecutive days of gains. The world’s leading cryptocurrency rallied as high as $58,102 on Thursday, tantalizingly close to its all time high of $58,332 from February 21st. After falling during the pandemic, the US rate of inflation is rising again as the economy recovers. The … Read more
EUR/USD Daily Chart The US dollar gained against its major rivals in early trading on Monday, following a better than expected employment report and after the Senate passed a $1.9 trillion coronavirus relief package. Meanwhile. the rise in Treasury yields unsettled investors in the stock market. US job growth spiked in February as hiring in … Read more
Gold fell to its lowest levels since last June in early Friday trading. The move came as the US dollar was boosted by remarks from Federal Reserve Chair Jerome Powell on Thursday. Powell reiterated his intention to continue with easy-monetary policy, but did not signal an intention to suppress the rise in Treasury yields. Rising … Read more