Although the Reserve Bank of Australia (RBA) matched wide forecasts of inaction on early Tuesday, the Aussie central bank’s concerns over economic growth, due to the pandemic-led local lockdowns, weigh on the AUD/USD prices. Also challenging the quote buyers are the headlines from China and concerning the US stimulus, as well as debt ceiling extension. That said,...
Despite breaking the two-week-old falling trend line the previous day, EURUSD wavers in a choppy range above 1.1900 as the pair traders await ECB's decision. Also important for the day is US President Joe Biden’s speech to praise policymakers after his $1.9 covid stimulus package crossed the Senate before a few hours. While neither ECB nor Biden seems to offer any...
Gold prices continued to move sideways on the back of multiple events and updates floating in the market, although if the metal could not keep up pace it will be on the track for its first weekly decline in three weeks for the metal. On the bright side for the metal yesterday, President Trump announced that he is willing to raise his offer of $1.8tln for a Covid...
Bank Nifty - Technical Analysis: Bank Nifty started off the day with a gap-up opening but soon corrected over 1.7% within an hour. The bears then started booking their profits due to which Bank Nifty retraced upward before settling near the day's high. On the hourly chart, Bank Nifty gave a failed breakout above the EMA20 line and formed a red candle after...
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