For Ethereum to thrive, there must be a willingness among investors to engage with the crypto markets and their associated ecosystems, a trend that seems poised to gain momentum in 2024. Ethereum experienced a downturn in the early hours of Tuesday, further underscoring the prevailing volatility in this market. In the grander scheme of things, Ethereum...
EUR/USD gained bullish momentum above the 1.0985 resistance. USD/JPY is declining and showing bearish signs below the 142.85 level. Important Takeaways for EUR/USD and USD/JPY Analysis Today The Euro remained in a bullish zone and climbed above the 1.0985 resistance zone. There is a key bullish trend line forming with support near 1.1020 on the hourly chart of...
You can make an argument that the DAX is very overextended, as we have rallied quite drastically. The German DAX initially pulled back a bit during the trading session on Friday, but it does look as if there are buyers underneath, especially near the €16,600 level. This is an area that has offered support recently, and the fact that we have bounced from that...
The euro stabilized around $1.1 at the end of 2023, up nearly 3% for the year and on course for a third straight month of gains. It has also remained at its highest level since late July, as investors foresaw more pronounced interest rate reductions from the Federal Reserve in the upcoming year, denting the appeal of the greenback. Presently, markets reflect an...
The CAC 40 index rose about 0.3% to the 7,590 level on Wednesday, tracking its European peers higher, fueled by growing optimism regarding major central banks potentially implementing interest rate cuts in the coming year. Among single stocks, Alstom (+2.5%), Teleperformance SE (+1.2%), STMicroelectronics (+0.9%) and Société Générale (+0.8%) were the top...
The Australian dollar appreciated to around $0.683, scaling fresh five month highs as cooling US inflation reinforced bets that the Federal Reserve will start cutting interest rates next year. Lower rate expectations also lifted commodity prices, providing a boost to Australia’s resource-heavy industries and currency. Meanwhile, analysts suggested that the Reserve...
Malaysian palm oil futures traded around MYR 3,780 per tonne, extending gains from the prior session amid strength in rival edible oils. Prospects of lower production because of dry weather and declining inventories also lifted sentiment. Malaysia's palm oil stocks at the end of November fell after growing in the prior 6 months. Capping the bullish traction was a...
The S&P/TSX Composite index closed 0.5% higher at the 20,881 level on Friday , reaching the highest since May 2022, supported by looser financial conditions. Preliminary data indicated that the Canadian GDP expanded from the previous month in November, while that for October was revised to show a stall. This aligns loosely with the Bank of Canada’s outlook for the...
As of my last knowledge update in January 2023, I don't have real-time data or the ability to predict specific future events or market movements. The long-term scenario for the Dow Jones Industrial Average (DJIA) or any other stock index depends on various factors, including economic conditions, corporate performance, geopolitical events, and global market...
WTI crude oil futures fell below $74 per barrel on Thursday, ending a three-day climb due to divisions within OPEC. After 16 years, Angola's departure from OPEC heightened concerns about the organization's ability to stabilize global prices amidst disputes over oil production quotas. Oil prices are on track for their first annual decline since 2020, driven by...