Gold retraces on overbought condition
Gold has pulled back today, giving the weekly candle an inverted hammer appearance. The weekly candle is still to open, but the selling tail does coincide with an overbought condition.
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Gold has pulled back today, giving the weekly candle an inverted hammer appearance. The weekly candle is still to open, but the selling tail does coincide with an overbought condition.
Read the daily market update as we head towards the European open, to get some of the latest developments, main market moves and upcoming events
The pair finds support at the start of the European session, following yesterday’s drop to the lowest level since May 2020 and its worst week since the pandemic
Read the daily market update as we head towards the European open, to get some of the latest developments, main market moves and upcoming events
In yesterday's testimony before the House Financial Service Committee on Capitol Hill, Fed Chair Jerome Powell suggested a 25bps hike on 16 March. This increase comes as the financial market reel following Russia's invasion of Ukraine. Mr. Powell said that "[i]t's too soon to say for sure, but for now...we will proceed carefully along the lines of [the] plan" proposed before the Ukraine invasion (barrons.com). Inflation is at levels that…
Read the daily market update as we head towards the European open, to get some of the latest developments, main market moves and upcoming events
The pair stays on the back foot, setting new lows, as the war in Ukraine enters its seventh day and markets await Mr Powell’s testimony in US Congress
Read the daily market update as we head towards the European open, to get some of the latest developments, main market moves and upcoming events
Read the daily market update as we head towards the European open, to get some of the latest developments, main market moves and upcoming events
Read the daily market update as we head towards the European open, to get some of the latest developments, main market moves and upcoming events
The pair plunged on Thursday, on risk aversion sparked by the Russian attack in Ukraine, but reacted during the US hours and today it is cautious as the European session gets underway
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