Australian Dollar Lower, RBA Keeps Options Open

Gold price started a fresh decline below $2,665. Crude oil prices are now struggling to clear the $70.00 and $70.50 resistance levels. Important Takeaways for Gold and Oil Prices Analysis Today Gold price climbed higher toward the $2,665 zone before there was a sharp decline against the US Dollar. A key bearish trend line is […]

GBPUSD tests 200-day SMA after strong sell-off Prices break trading range to the downside Outlook looks bearish in short-term GBPUSD plunged to a new almost two-month low of 1.2517 on Monday’s session, falling beneath the short-term trading range and the 200-day simple moving average (SMA).  Currently, the market is recovering some losses with the RSI […]

Markets This morning, the PBOC surprised markets with a much bigger than expected 25 bps cut of the 5-year prime loan rate (3.95%) aiming to support the real estate market and hopefully also helping to provide some oxygen (and confidence) for broader economic activity. However, the market reaction in China and abroad was lukewarm. For […]