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Meta fined $1.3 billion for improper user data transferMeta Platforms (META) was fined $1.3 billion for violating European Union data protection regulations, specifically for transferring Facebook users’ data to the US, thereby exposing them to US intelligence agencies. While the tech giant stated it would appeal the decision, its NASDAQ share price was unfazed as it climbed $2.68 to $248.32. Meanwhile, major indices closed mixed on Monday, with investors awaiting a debt ceiling deal. The Nasdaq 100 advanced 46 points to 13,849, and the S&P 500 edged up less than one point to 4,192. The Dow Jones Industrial Average plunged 140 points to 33,286. EUR/USD increased 5 pips to 1.0813, and AUD/USD closed 6 pips higher at 0.6653. GBP/USD slipped 2 pips to 1.2437. USD/CAD remained at 1.3505 as the market closed, and USD/JPY rose 61 pips to 138.60. Spot gold declined $6 to $1,971.84 an ounce, and WTI oil futures added $0.36 to $72.05 a barrel. Bitcoin and Ethereum just rose to $27,026.0 and $1,816.13 respectively.
by Mitrade_official
Stocks fall as debt ceiling talks continueThe US government is yet to strike a deal with Congress to raise the debt ceiling. US stocks weakened with the Dow Jones Industrial Average plunging 109 points to 33,426. The Nasdaq 100 fell 31 points to 13,803.49, and the S&P 500 slipped 6 points to 4,191. Meanwhile, the greenback also weakened against its peers. EUR/USD added 38 pips to 1.0808, and GBP/USD increased 30 pips to 1.2439. AUD/USD moved up 25 pips to 0.6647. The Canadian market is closed on Monday, while USD/CAD edged up 3 pips to 1.3505, and USD/JPY dropped 71 pips to 137.99. Spot gold rose $20 to $1,977.80 an ounce, and WTI oil futures closed $0.17 lower at $71.69 a barrel. Bitcoin and Ethereum slid to $26,678.0 and $1,797.84 respectively.
by Mitrade_official
Japan’s YoY core inflation rose to 3.4%After a short relief, the Japanese core CPI rebounded to 3.4% as expected. This has increased pressure on the Bank of Japan to introduce further tightening measures. USD/JPY climbed 102 pips to 138.7. On the other hand, US Initial Jobless Claims slowed to 242,000 in April, and USD/CAD gained 47 pips to 1.3502. EUR/USD declined 70 pips to 1.0770, and GBP/USD fell 78 pips to 1.2409. Australia recorded a 4,300 drop in total employment in April, and AUD/USD slipped 38 pips to 0.6622. US crude oil inventory jumped by 5 million barrels, and WTI oil futures declined $1.00 to $71.86 a barrel. Spot gold slid $24 to $1,957.58 an ounce. Bitcoin and Ethereum are trading lower at $26,836.0 and $1,798.61 respectively. The Nasdaq 100 surged 245 points to 13,834, and the S&P 500 advanced 39 points to 4,198. The Dow Jones Industrial Average added 115 points to 33,535.
by Mitrade_official
XAUUSD More decline expected but prepare to buy on these levels.Gold / XAUUSD is declining, which is a technical pull back inside the long term Channel Up. A 4hour Death Cross will be formed tomorrow and in the past 12 months it has been a bearish signal of sell continuation. We expect the bottom to be either on the 1day MA100 (1930) or the lower dotted line (1910). In either case, over Support A as on February 28th. Confirmed buy signal will be when you see Higher Lows on the 4hour MACD leading to 0.0. Long term Target = 2080. Previous chart: Follow us, like the idea and leave a comment below!!
FX_IDC:XAUUSDShort
by TheCryptagon
22
German economic sentiment drops for the first time in four monthIn May, Germany’s economic sentiment index fell to -10.7, much higher than Mitrade's estimates of -2. The poor reading reflected concerns about Europe’s economic health in general. EUR/USD slipped 11 pips to 1.0863, and GBP/USD declined 41 pips to 1.2487. AUD/USD fell 45 pips to 0.6655. Meanwhile, US retail sales grew 0.4% in April, lower than expected growth of 0.7%. USD/CAD added 11 pips to 1.3478, and USD/JPY moved up 26 pips to 136.38. Spot gold plunged $28 to $1,988.95 an ounce, and WTI oil futures slid $0.25 to $70.86 a barrel. Bitcoin and Ethereum are trading lower at $27,112.0 and $1,829.99 respectively. The Nasdaq 100 rose 12 points to 13,426. The S&P 500 retreated 26 points to 4,109, and the Dow Jones Industrial Average dropped 336 points to 33,012.
by Mitrade_official
XAUUSD: Will the 1D MA50 offer support?Gold came today the closest it's been to the 1D MA50 since March 13th when it crossed over it and initiated the Channel Up the price has been trading in for the past 2 months. Being at the bottom of this Channel Up, the 1D technicals are neutral (RSI = 46.769, MACD = 11.340, ADX = 29.957) and this indicates how strong of a long term buy opportunity this is. Until Gold closes 1D under the 1D MA50, we are bullish, targeting the R1 (TP = 2,080). A closing under the 1D MA50, will turn us bearish, targeting the 1D MA100 and S2 (TP = 1,935). With the 1D RSI inside a Channel Down, it shows a hige bearish divergence in contrast to Gold's Channe Up and supports the bearish case. Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
FX_IDC:XAUUSD
by InvestingScope
10
US still under talks to raise the debt ceilingInconclusive talks to raise the debt ceiling pose a default risk as the US approaches its borrowing limit. The greenback then weakened against its peers, EUR/USD added 17 pips to 1.0874, and GBP/USD climbed 80 pips to 1.2528. AUD/USD advanced 54 pips to 0.6700, and Australia’s consumer sentiment plunged 7.9% - considerably worse than Mitrade's estimates of -1.7%. USD/CAD declined 81 pips to 1.3467, and USD/JPY rose 41 pips to 136.12. Spot gold climbed $5 to $2,016.46 an ounce, and WTI oil futures rose $1.07 to $71.11 a barrel. Bitcoin and Ethereum slipped to $27,130.0 and $1,811.59 respectively. The Nasdaq 100 gained 73 points to 13,413, and the Dow Jones Industrial Average increased 47 points to 33,348. The S&P 500 rose 12 points to 4,136.
by Mitrade_official
UK YoY GDP growth slows to 0.2%In April, the UK's year-on-year GDP growth declined to 0.2%, and the monthly Manufacturing Production readings exceeded Mitrade's estimates increasing by 0.7%. GBP/USD then dropped 60 pips to 1.2448. EUR/USD retreated 60 pips to 1.0857, and AUD/USD slipped 55 pips to 0.6646. USD/CAD gained 60 pips to 1.3548, and USD/JPY surged 120 pips to 135.71. Spot gold closed $5 lower at $2,010.88 an ounce, and WTI oil futures slid $0.80 to $70.04 a barrel. Bitcoin and Ethereum are trading lower at $27,158.0 and $1,819.21 respectively. The Dow Jones Industrial Average moved down 8 points to 33,300. The S&P 500 fell 6 points to 4,124, and the Nasdaq 100 decreased 49 points to 13,340.
by Mitrade_official
The Bank of England raises rates by 25 bps to 4.50%On Thursday night, the Bank of England raised the interest rate by 25 basis points to 4.50%, meeting Mitrade's estimates. Meanwhile, investors expect UK GDP readings in April to slow from 0.6% to 0.2%, and GBP/USD plunged 115 pips to 1.2509. EUR/USD fell 66 pips to 1.0914, and AUD/USD declined 77 pips to 0.6701. USD/CAD surged 121 pips to 1.3491, and USD/JPY increased 20 pips to 134.54. Spot gold dropped $15 to $2,015.09 an ounce, and WTI oil futures slipped $1.69 to $70.87 a barrel. Bitcoin and Ethereum slowed to $26,875.0 and $1,785.66 respectively. The Nasdaq 100 closed 41 points higher at 13,389, but the Dow Jones Industrial Average declined 221 points to 33,309, and the S&P 500 slid 7 points to 4,130.
by Mitrade_official
US YoY inflation slows to 4.9%In April, the US year-on-year inflation rate slowed to 4.9%, slightly slower than Mitrade's estimates of 5.0%. Although rate hikes are still possible until meeting the inflation target, robust labor market data have eased investors’ concerns about a recession. GBP/USD surged to 1.2673, before closing 6 pips higher at 1.2624. Later tonight, the Bank of England is expected to raise its interest rate by 25 basis points to 4.50%. EUR/USD added 20 pips to 1.0980, and AUD/USD increased 16 pips to 0.6778. USD/CAD slipped 7 pips to 1.3370, and USD/JPY fell 89 pips to 134.34. US crude oil stockpiles added 2.95 million barrels, while the market anticipated a drop. WTI crude futures slid $0.90 to $72.56 a barrel. Spot gold declined $3 to $2,030.29 an ounce. Bitcoin and Ethereum fell to $27,577.0 and $1,831.31 respectively. The Nasdaq 100 climbed 146 points to 13,347, and the S&P 500 advanced 18 points to 4,137. On the other hand, the Dow Jones Industrial Average dropped 30 points to 33,531.
by Mitrade_official
Nonfarm Payrolls rebound surprised investorsUS Nonfarm Payrolls in April reached 253,000, significantly exceeding Mitrade's estimates of 180,000. Meanwhile, the US unemployment rate slipped to a 53-year-low of 3.4%, which continues to indicate resilience in the labor market under continuous rate hikes. The USD/CAD pair plunged 164 pips to 1.3373, and USD/JPY rose 66 pips to 134.83. EUR/USD moved up 6 pips to 1.1017. GBP/USD gained 69 pips to 1.2641, and AUD/USD added 55 pips to 0.6748. Spot gold declined $32 to $2,017.56 an ounce, and WTI oil futures climbed $3 to $71.34 a barrel. Bitcoin slipped to $28,795.0, and Ethereum advanced to $1,908.00. The Nasdaq 100 closed 276 points higher at 13,259. The Dow Jones Industrial Average surged 546 points to 33,674, and the S&P 500 climbed 75 points to 4,136.
by Mitrade_official
European Central Bank raises rates by 25 basis pointsAs expected, the European Central Bank raised interest rates by 25 basis points to 3.75%, and EUR/USD fell 48 pips to 1.1011. GBP/USD added 8 pips to 1.2572, and AUD/USD climbed 24 pips to 0.6693. Later tonight, Mitrade estimates US Nonfarm Payrolls will drop to 180,000, which would indicate a cooling labor market. USD/CAD dropped 68 pips to 1.3537, and USD/JPY closed 41 pips lower at 134.17. Spot gold gained $11.5 to $2050.2 an ounce, and WTI oil futures edged up $0.02 to $68.62 a barrel. Bitcoin advanced to $29,304.0, and Ethereum slipped to $1,898.78. The Dow Jones Industrial Average plunged 286 points to 33,127. The S&P 500 slipped 29 points to 4,061, and the Nasdaq 100 decreased 47 points to 12,982.
by Mitrade_official
XAUUSD: Healthy pull back inside the Channel Up.XAUUSD reached the top of the Channel Up and as the 4H timeframe turned overbought (RSI = 66.415, MACD = 15.310, ADX = 35.525) we should see a technical pullback to the bottom. Apart from the 4H MA50, we expect this pull back to be of a minimum -3.75%. With the 4H RSI on clear sell territory, sell now with TP = 2,005. Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
FX_IDC:XAUUSDShort
by InvestingScope
2
Federal Reserve raises rates by 25 basis points The US Federal Reserve has raised interest rates by 25 basis points to 5.25%, meeting Mitrade's estimates. Meanwhile, the US stock market closed lower as Fed Chair Jerome Powell hinted at further rate hikes. The Dow Jones Industrial Average dropped 270 points to 33,414. The S&P 500 fell 28 points to 4,090, and the Nasdaq 100 retreated 83 points to 13,030. Later tonight, the European Central Bank is also expected to increase rates by 25 basis points to 3.75%. EUR/USD gained 60 pips to 1.1059, and GBP/USD surged 100 pips to 1.2564. AUD/USD edged up 8 pips to 0.6669, as Australian retail sales recorded a 0.4% month-on-month increase in March. USD/CAD closed 10 pips lower at 1.3615, and USD/JPY plunged 185 pips to 134.68. Spot gold climbed $22 to $2,038.76 an ounce. Despite supply disruptions and declining inventories, WTI oil futures slipped $3.06 to $68.60 a barrel. Bitcoin and Ethereum advanced to $29,083.0 and $1,902.20 respectively.
by Mitrade_official
Investors surprised by Australia’s rate hikeOn Tuesday, the Reserve Bank of Australia raised interest rates by 25 basis points to 3.85%, to control inflation. The decision was not expected by investors. AUD/USD then added 31 pips to 0.6661. The Eurozone year-on-year inflation rate was 7.0% as expected by Mitrade. EUR/USD increased 24 pips to 1.0999, and GBP/USD slipped 32 pips to 1.2464. USD/CAD rose 83 pips to 1.3625, and USD/JPY dropped 95 pips to 136.53. Spot gold surged HKEX:35 to HKEX:2 ,016.72 an ounce, and WTI oil futures fell $4.04 to $71.66 a barrel. Bitcoin and Ethereum are currently trading higher at HKEX:28 ,548.0 and HKEX:1 ,863.61 respectively. The S&P 500 declined 48 points to 4,119, and the Dow Jones Industrial Average plunged 367 points to 33,684. The Nasdaq 100 closed 117 points lower at 13,113.
by Mitrade_official
SUGARUSD Bearish ShortTrading AnalysisSUGAR RAWUSD Bearish trend forming for Sugar Commodity We are seeing a Elliot 5 pattern way theory occurring as well on the 2-3 hour charts. But most importantly sugar is spiraling down towards a major support level. Clearly the uptrend has broken it's trend line with a fake cat bounce/retest making it definite the reversal has occurred. FIB LEVELS also mention that the support is a crucial zone of interest. As it could reverse or keeping it's bearishness due to it's heavy many spikes of volume. A parallel channel has formed. I would place a sell limit in it's latest order block as seen in the picture, also to mention that there are many inside bar candles in this order block which can be used efficiently for the right trade, in this scenario shorting. A nice 650+ pip move if all goes as speculated. - David van Delden
VANTAGE:SUGARShort
by ImperialTrading
XAUUSD Gold Bullish Move Momentum LongBullish XAUUSD Fed Rate's higher = gold increases while dollar deceases. (positive fundamental news) Next to this we are seeing most likely a new break of structure from it's resistance. If XAUUSD breaks above this a performs a retest in the zone we will see the price rise up to wards the fib level corresponding with the bigger previous swing high (resistance) also a key supply zone for sellers. Both aspects positively confirm new potential bullishness in Gold. SL below it's demand zone or swing low TP 2.414 FIB LEVEL (to be safe I would set it just some PIPS below it) - David van Delden
FOREXCOM:XAUUSDLong
by ImperialTrading
4
First Republic Bank auctioned off to JPMorgan ChaseAfter the high-profile seizure of the First Republic Bank, JPMorgan has agreed to pay $10.6 billion to US regulators for taking over the bank. Meanwhile, JPMorgan Chase’s stock price rose 2.14% to $141.20. As other major markets were closed for the holidays, the S&P 500 slipped 1 point to 4,167. The Nasdaq 100 declined 14 points to 13,231, and the Dow Jones Industrial Average fell 46 points to 34,051. EUR/USD closed 45 pips lower to 1.0975, and GBP/USD tumbled 76 pips to 1.2496. AUD/USD gained 15 pips to 0.6630, and the Reserve Bank of Australia is expected to maintain a 3.60% interest rate level in May. USD/CAD slid 6 pips to 1.3542, and USD/JPY climbed 121 pips to 137.48. Spot gold decreased HKEX:8 to HKEX:1 ,981 an ounce, and WTI oil futures moved down $1.10 to $75.70 a barrel. Bitcoin and Ethereum are trading lower at HKEX:27 ,961.0 and HKEX:1 ,830.83 respectively.
by Mitrade_official
USOil | New perspective for the week | Follow-up detailThe much-expected bullish pressure following the OPEC+ decision to cut oil production appears to be losing steam as bears are defying OPEC+ again. The majority of market participants are of the opinion that the selling pressure witnessed in the previous week is a result of persistent US rate hikes and recession fears but if we take a look at this bearish move from a technical standpoint, it could be a retracement phase which most of the time is a consequence of profit-taking activities. This video illustrated the technical side of the current market structure and highlighted a key level at the 78.00 level which will be serving as our yardstick for trading activities in the coming week. Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
FX:USOILSPOT
by darcsherry
1
US GDP growth slows more than expectedLast night, the US quarter-on-quarter GDP growth rate was at 1.1% - noticeably lower than Mitrade's expectations of 2.0%. On the other hand, the labor market strengthens as the Initial Jobless Claims reading decreases to 230,000. Germany and Canada will announce their GDP data tonight, with the market estimating lower readings at 0.3% and 0.2% respectively. EUR/USD fell 13 pips to 1.1027, and USD/CAD declined 44 pips to 1.3591. GBP/USD added 20 pips to 1.2487, and AUD/USD increased 31 pips to 0.6629. USD/JPY rose 26 pips to 133.93. Spot gold slipped $1.55 to HKEX:1 ,987.85 an ounce, and WTI oil futures edged up $0.38 to $74.76 a barrel. Bitcoin is currently trading below the HKEX:30 ,000 level at HKEX:29 ,551, and Ethereum just climbed to HKEX:1 ,913.53. A strong earnings report sent Meta Platforms (META) surging 13.93% to $238.56 and supported the Nasdaq 100 to gain 353 points to 13,160. The S&P 500 increased 79 points to 4,135, and the Dow Jones Industrial Average advanced 524 points to 33,826.
by Mitrade_official