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 …
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 …
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 …
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 …
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 …
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 …
Copper futures climbed higher on Tuesday, reaching the highest levels since August of 2011. The price of copper, the world’s most important industrial metal, has more than doubled since the lows posted last March. The boom in electric vehicle manufacture along with copper’s other electrical uses have sparked the interest of investors. Goldman Sachs recently …
GBP/USD rose to fresh multi-year highs in early trading on Tuesday, amid optimism over Prime Minister Boris Johnson’s four-step plan to end UK lockdown restrictions by June 21st. The announcement was made in a speech to parliament on Monday, and followed up by televised press conference in the evening.
WTI crude oil (live chart) reached its highest levels since January of 2020 in Monday trading, but pulled back to close the day lower. News of COVID-19 vaccine rollouts and the $1.9 trillion US stimulus package boosted crude oil over the past week, as optimism over economic recovery crept into the market. In addition, crude oil …