EURUSD 1.1851 |
USDJPY 111.52 |
GBPUSD 1.3772 |
AUDUSD 0.7485 |
USDCAD 1.2406 |
GBPJPY 153.59 |
EURJPY 132.15 |
AUDJPY 83.48 |
CADJPY 89.86 |
Silver 26.23 |
Friday's $2431 high in gold consisted of a 21% rise from the Feb 14th low. Such percentage extensions from key lows or/and technical levels such as the 200-DMA, could flag crucial opportunities for partial/full profit-taking. Watch here.
Bitcoin versus Miners Performance
As many of you know 2023 was kind to members of our WhatsApp Broadcast Group who snapped up shares in bitcoin miners, while 2024 has so far been more superior to Bitcoin than most of the miners...
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Ashraf
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euro strenght vs GBP and USD
az sqm vqv Phoenix, ti kade si ?
@ Stingle
yes, I trade London, and other markets............. basicaly I trade "only" in my awake hours :)
Since Ashraf is covering markets "only" when they open, I have feeling that I am going to miss something.................. The man is without competition........
b.
adamcpf, 2 more rate hikes in Q1. nit sure if they will do one more this year. SSEC fell nearly 10% in less than 2 weeks.
Darth & Zee. mabrouk Eidkum !
Ashraf
Why the pound is down vs the Euro how do you explain this after the CPI numbers shouldn't be the contrary?
A number of funds are reducing their PM exposure as US yields rise. Ashraf has often talked about how long term bond yields affect currency flows. The 10 year, and especially the 30 year yields in the US are rising, and lifting the dollar with it.
Further the blow-out top in silver last Tuesday is as good as it gets as a technical top (at least for the short term). The silver-gold ratio has reached a significant measured move milestone. Copper has also reached a major resistance level. All these point to a pause in the "stuff" rally. There is also the action of the emerging markets trying to rein in inflation in one form or another which is likely to keep commodities in a corrective mode for some time.
Also keep in mind that the Fed has been universally condemned for its QE2. It got suckered in by the rise in first time unemployment claims, which have since declined to pre-Lehman levels. It is not outside the realm of possibility that QE2 itself might be constrained (e.g. the buybacks spread over a longer period of time).
So a pause in the PM run is perfectly reasonable outcome to expect.