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Technical Analysis – Gold retreats from all-time high

Gold pulls back from its recent record peak Momentum indicators exit overbought conditions Gold experienced a massive surge following its profound break above the 50-day simple moving average (SMA), posting a fresh all-time high of 2,195 on March 8. However, bullion has been undergoing a minor downside correction since then as it had approached extremely overbought conditions.
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Market Comment – Yen stays on the backfoot despite BoJ rate hike speculation

Wage data drives up bets of BoJ rate hike on Tuesday but yen not convinced Weaker yen boosts Nikkei but inflation worries weigh on Wall Street ahead of Fed Dollar steady in calm start to a very busy week but oil unsettled by geopolitics All eyes on BoJ decision as yen slips Intensifying speculation about a potential historic rate hike by the Bank of Japan is dominating the start of the week where the Federal Reserve, as well as central banks in the UK, Switzerland and Australia
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Technical Analysis – EURUSD trades sideways after sharp drop

EURUSD rotates lower after its advance gets rejected Trades flat in past few sessions within the Ichimoku cloud Momentum indicators weaken but remain positive   EURUSD had been in a steady recovery from its 2024 bottom of 1.0693, advancing to as high as 1.0980 on March 8. However, the pair’s rebound was rejected after a temporary jump above the Ichimoku cloud, with the short-term oscillators deteriorating significantly but holding above their neutral zones.
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Will Canada’s CPI data rescue the wounded loonie? – Preview

BoC sounds less dovish than expected Investors pencil in a first 25bps cut in July Canada’s CPI numbers could affect market expectations The data is scheduled for Tuesday at 12:30 GMT Will the BoC cut interest rates after the Fed? At its latest gathering on March 6, the Bank of Canada (BoC) decided to keep interest rates unchanged at 5% as expected, but the statement accompanying the decision and Governor Tiff Macklem himself signaled concerns about high underlying price pre
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Bitcoin pulls back from record highs – Crypto News

Bitcoin posts consecutive record highs before retracing lower Drops below 70,000 psychological mark amid rising US yields Ethereum follows suit despite the successful Dencun upgrade   Bitcoin down around 10% from record highs This week could be split into two different phases for Bitcoin and the crypto markets in general. Initially, the king of cryptos marched to consecutive all-time highs, peaking at $73,800 on Thursday. Again, intensifying investor demand towards spot-Bitcoin
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Technical Analysis – USDCAD eases but stands above SMAs

USDCAD remains within ascending channel Stochastics still move higher USDCAD surpassed the simple moving averages (SMAs) in the short-term view, remaining within the upward sloping channel. The MACD oscillator is indicating weak momentum as it is holding beneath its trigger line and near the zero level, while the stochastic is pointing slightly up.
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Week Ahead – Five central banks: who will hike, who will not cut?

Fed meets on Wednesday with focus on new dot plot Will the Bank of Japan finally end negative rates on Tuesday? BoE and RBA to stick with patience, SNB might be in more of a rush to cut Flash PMIs plus inflation data in the UK, Japan and Canada will also be crucial Fed decision: hoping for the best The upcoming week will undoubtedly be one of the busiest, not to mention the most important, of the year for investors with five major central bank decisions on the way, along with
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Market Comment – Dollar recovers, equities stall after US data releases

Dollar stages comeback as US data fuels speculation of fewer Fed cuts Stocks and Bitcoin take a step back, oil climbs after Ukraine drone attacks Yen traders play the guessing game ahead of next week’s rate decision Dollar gets excited after US data The US dollar came back swinging this week, after a series of inflation surprises fueled speculation that the Fed will signal a slower pace of rate cuts when it meets next week.
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RBA could maintain a degree of hawkishness – Preview

RBA will meet on Tuesday, cash rate is expected to be kept unchanged Market wants a dovish show, but RBA could remain somewhat hawkish Aussie could benefit against the US dollar from a hawkish gathering Decision to be announced at 03.30 GMT, press conference one hour later The Reserve Bank of Australia meets on Tuesday The RBA kicks off next week’s busy central bank meetings’ schedule with its Tuesday gathering.
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Technical Analysis – Is USDCAD poised for another bullish round?

USDCAD brings key resistance in focus after rebound Technical signals are encouraging, but a bullish outlook expected above 1.3600   USDCAD made a strong comeback on Thursday, surpassing its simple moving averages (SMAs) and breaching the 1.3500 level after encountering fresh buying around the familiar long-term line from November 2022. The 50% Fibonacci retracement of the November-December 2023 downleg is currently challenging the bulls around 1.3535. The chances of the bulls w
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Technical Analysis – GBPJPY ticks up from rising trend line

GBPJPY recoups some of the losses RSI and MACD still show some weakness GBPJPY is recovering somewhat from the bearish movement that started from 191.30 and is following the direction of the ascending trend line. The market is also developing within the 20- and the 50-day simple moving averages (SMAs) with the technical oscillators showing some weakness in price.
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Fed decision: Will the new 'dot plot' boost the dollar? – Preview

Fed will announce its latest decision at 18:00 GMT Wednesday Almost certain to keep rates steady, so focus will fall on ‘dot plot’ Signals of fewer rate cuts this year could help the dollar recover   Solid economy pushes back Fed cuts The US economy continues to defy expectations. Economic growth is on track to hit 2.5% this quarter, juiced by enormous government spending and solid consumer demand.  Labor markets have shown some early signs of loosening lately, but re
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Technical Analysis – ETHUSD trades flat in Dencun upgrade aftermath

ETHUSD trades sideways in the past few sessions Fails to capitalise on completion of Dencun upgrade on Wednesday Momentum indicators ease but do not exit overbought zones ETHUSD (Ethereum) has been in a steep uptrend in 2024, surging to consecutive multi-month highs. However, the leading altcoin seems to be consolidating in the past few sessions despite the successful completion of the Dencun upgrade as it has been repeatedly repelled a tad below the 4,100 mark.
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Technical Analysis – Will GBPUSD enter its range again?

GBPUSD eases from new 7-month high Technical oscillators suggest bearish retracement GBPUSD is losing more ground after it posted a a fresh seven-month high of 1.2890, breaking the medium-term trading range to the upside. But will the market return into that range again? Technically, the MACD oscillator is easing above its trigger and zero lines, while the RSI indicator is falling above the neutral threshold of 50. Should the market extend losses, support could be met between the 1.2
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Technical Analysis – Silver bulls return with a bang

Silver marks new higher highs in the year to date Some caution required as former resistance area is nearby   Silver bulls roared back during Wednesday’s late European trading hours, with the metal soaring to a more-than-three month high of 25.14 before closing marginally below the 25.00 round level. The completion of a double bottom pattern around the 21.91 floor led to a bullish explosion, as the price advanced above the neckline of 23.51. While the bullish market structure in

US 30 index pulls back off rising trend line Stochastics endorse the bullish tendency The US 30 (cash) index is flirting again with the all-time high of 39,284.42 after the bounce off the 38,450 support level, which overlaps with the long-term ascending trend line. According to the technical oscillators, the MACD is trying to cross above its trigger line in the positive territory, while the stochastic is running towards the overbought region after the bullish cross within the %K and
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Why do US stocks keep ignoring downside risks? – Stock Markets

S&P 500 posts record high despite upbeat CPI print Projections of fewer rate cuts do not scare stocks Can this rally extend without a sizable correction?   Stocks unhindered by hotter-than-expected inflation report On Tuesday, the S&P 500 recorded a fresh all-time high, while both the Nasdaq 100 and Dow Jones finished the session in the green despite the stronger-than-expected US CPI print.
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Technical Analysis – AUDUSD waits for direction after bullish break

AUDUSD squeezed between key levels Traders indecisive ahead of US retail sales   AUDUSD regained positive momentum and climbed above its exponential moving averages (EMAs) after breaking out of its 2024 bearich channel. But the 0.6620 region, which was a tough barrier in January, dented the upside forces following the flash spike to 0.6666. The technical indicators are sending mixed signals, though the nearby support area of 0.6600, which has been limiting downside movements, is p
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Market Comment – US PPI and retail sales data enter the limelight

After hot CPI inflation, dollar awaits PPI and retail sales data Yen on the back foot as BoJ March hike bets decrease S&P 500 and Nasdaq pull back, gold rebounds Dollar trades cautiously ahead of US data The US dollar traded lower against most of its major peers yesterday, gaining some ground only against the Swiss franc and staying virtually unchanged against the Japanese yen.
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Technical Analysis – WTI oil futures fight with 80.80 bar

WTI crude rebounds off 200-day SMA Remains in an uptrend in the short-term WTI oil futures are finding a strong support level near the 200-day simple moving average (SMA) at 78.00 and are also struggling to jump beyond the 80.80 resistance. The price has been in an uptrend since mid-December with the technical oscillators suggesting a neutral to bullish bias.



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