Gold prices hit a new high in Asian trading on Wednesday as uncertainty over the US election and ongoing conflict in the Middle East boosted demand for safe-haven assets. In addition, the slight decline in U.S. Treasury yields and the weakness of the U.S. dollar further supported the precious metal, outweighing optimistic market sentiment, which typically limits...
Conflict in the Middle East has failed to sustain the oil risk premium Despite the ongoing conflict in the Middle East, the crude oil market interpreted the recent events as a step towards de-escalation, leading to a gradual receding of risk premiums in the region. Over the weekend, Israel launched air strikes on missile sites inside Iran, which Iranian...
EUR/USD finds support around 1.0765/1.0780 and tries to gain additional upside momentum. No major economic reports are scheduled to be released in Europe today, so traders will continue to monitor general market sentiment. If EUR/USD can get back above 1.0800, it will move towards the 50 moving average of 1.0826. A break above the 50 moving average will open the...
As soon as November began, many people were already bearish on Bitcoin's long-term prospects, In the past a lot of people were saying things like Bitcoin 100K, creating a goal that was going to be reached right away. But that hasn't happened yet, so a lot of people are turning their backs on Bitcoin. In fact, we all know that there are many things that will affect...
The dollar extended its recent four-week rally to its highest level since July 30 as expectations grew for a more cautious approach by the Federal Reserve to cut interest rates. According to the CME Group's FedWatch Tool, the market has almost fully priced in a quarter-point rate cut at the Fed's November policy meeting. At the same time, the latest polls show a...