ECB Cuts Rates. EUR/USD Spikes to 1.5-Month High
Yesterday, as widely expected, the European Central Bank (ECB) cut interest rates for the eighth time since May 2024. According to ForexFactory, the main refinancing rate was lowered from 2.40% to 2.15% (having stood at 4.50% in May 2024).
According to Reuters:
→ ECB President Christine Lagarde stated that...
What Is the Hanging Man Candlestick Pattern, and How Can You Trade It?
In the world of technical analysis, candlestick patterns play a vital role in helping traders decipher market trends and potential reversals. Among the many setups, the hanging man holds particular significance. This distinctive formation captures traders' attention as it often serves as a...
USD/JPY Analysis: Bears Put Pressure on Key Support
As shown on the USD/JPY chart, the pair is hovering near key support at ¥142.50 per US dollar.
While demand was strong enough at the end of May to lift the exchange rate from this level to a peak around ¥146.00, USD/JPY has once again retreated to the ¥142.50 area.
Why has USD/JPY declined?
On one hand,...
Tesla (TSLA) Share Price Falls by 3.5%
Yesterday, the share price of Tesla (TSLA) dropped by 3.5%, placing it among the five worst-performing stocks of the day in the S&P 500 index (US SPX 500 mini on FXOpen). Since the peak on 29 May, the decline now totals nearly 10%.
Why Tesla (TSLA) Shares Are Falling
Among the bearish factors are:
→ A drop in car sales...
USD/CAD Holds Near 2025 Low
As the chart shows, the USD/CAD exchange rate hit its lowest level of 2025 on 2nd June, nearing the 1.3680 mark. Although there was a partial recovery on 3rd June, it was not substantial.
These fluctuations reflect market participants’ cautious sentiment ahead of key announcements scheduled for today, 4th June:
→ At 15:15 (GMT+3),...
XBR/USD Chart Analysis: Oil Price Rises to Key Resistance
Yesterday, the price of Brent crude climbed above $65.60 — the highest level in over a week.
According to media reports, several bullish factors are driving this move:
→ Stalled negotiations between the US and Iran over abandoning Iran’s nuclear programme in exchange for lifting oil export sanctions;
→...
Market Analysis: USD/CHF Targets Upside Break
USD/CHF is rising and might aim for a move towards the 0.8250 resistance.
Important Takeaways for USD/CHF Analysis Today
- USD/CHF is showing positive signs above the 0.8200 resistance zone.
- There was a break above a connecting bearish trend line with resistance at 0.8180 on the hourly chart at FXOpen.
...
Market Analysis: EUR/USD Trims Gains
EUR/USD started a downside correction from the 1.1450 resistance.
Important Takeaways for EUR/USD Analysis Today
- The Euro struggled to clear the 1.1450 resistance and declined against the US Dollar.
- There was a break below a key bullish trend line with support at 1.1395 on the hourly chart of EUR/USD at FXOpen.
...
Meta Platforms (META) Shares Surge Over 3% in a Day
Shares of American tech giant Meta Platforms (META) rose approximately 3.6% yesterday, continuing their upward trend after gaining about 18% in May.
Why Is META Stock Rising?
Reports emerged yesterday that the company plans to fully automate the ad creation process using artificial intelligence.
According...
Silver Price Hits Year-to-Date High
As shown on the XAG/USD chart, silver prices rose on Monday, surpassing the previous high of the year, which was set on 28th March at around $33.50 per ounce.
Why Is Silver Rising?
A bullish driver came from statements made by the White House. According to media reports:
→ US President Donald Trump announced on Friday...
Currency Risks in International Stock Investment
In the realm of international stock investment, understanding and managing currency risks is pivotal. This risk can substantially influence the returns on global investments, making it essential for investors to grasp its nuances and develop strategies to mitigate its impact. Today, we’ll delve into different...
Market Insights with Gary Thomson: BoC & ECB Rates, Canada and US Job Data & Earnings Reports
In this video, we’ll explore the key economic events, market trends, and corporate news shaping the financial landscape. Get ready for expert insights into forex, commodities, and stocks to help you navigate the week ahead. Let’s dive in!
In this episode, we discuss:
—...
EUR/USD Rises to 4-Week High
As shown on the EUR/USD chart today, the euro rose to a 4-week high against the US dollar this morning.
The euro's strength relative to the US dollar is supported by traders’ expectations ahead of the ECB's interest rate decision, scheduled for Thursday at 15:15 GMT+3.
This upcoming event is notable not only because the ECB is...
Market Analysis: WTI Crude Oil Price Could Gain Bullish Pace
WTI Crude Oil is gaining bullish momentum and might even test $62.75.
Important Takeaways for WTI Crude Oil Price Analysis Today
- WTI Crude Oil climbed above the $60.50 and $60.80 resistance levels.
- There was a break above a key bearish trend line with resistance at $60.80 on the hourly chart...
Market Analysis: Gold Price Could Gain Bullish Pace
Gold started a fresh increase above the $3,300 resistance level.
Important Takeaways for Gold Price Analysis Today
- Gold price started a steady increase from the $3,250 zone against the US Dollar.
- A connecting bearish trend line is forming with resistance at $3,318 on the hourly chart of gold at...
Broadcom (AVGO) Stock Price Rose by Approximately 25% in May
According to available data:
→ AVGO's closing price on 30th April was $192.42
→ The closing price on 30th May was $241.59
The 25% increase in Broadcom (AVGO) stock price made it one of the leaders in the market. For comparison, the S&P 500 index (US SPX 500 mini on FXOpen) rose just over 6%.
Why is...
Musk Steps Away from Politics: What Does It Mean for Tesla (TSLA) Stock?
Yesterday, it was announced that Elon Musk will be stepping down from the Trump administration as his term as head of DOGE—where he focused on reducing government spending—has come to an end.
This decision follows his statement at the economic forum in Qatar, where Musk said he plans to...
XAU/USD Chart Analysis: Gold Price Stabilises Around $3,300
Throughout May, a turbulent news backdrop — involving both international trade tariffs and armed conflicts — led to the formation of a peak around $3,430 and a low near $3,130 on the XAU/USD chart. As of today, the price per ounce stands around $3,300 — roughly the same level as at the beginning of the...
