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Summary
Explaining the market mechanics looking at areas of consolidation and liquidity in the charts. Identifying where price moves away very fast.
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When is the Australian Trade Data and how it could affect AUD/USD?
The Australian Bureau of Statistics will publish its data for January on Thursday at 00.30 GMT. AUD/USD trades on a positive note on the day in the lead up to the Australian Trade Data. The pair gains ground as the US dollar ignored the positive employment data and ISM Services PMI data.
USD/JPY pulls back from weekly highs as Yen steadies near 157.00
USD/JPY slipped 0.42% on Wednesday, pulling back to around 157.00 after pushing close to 157.90 earlier in the session. The pair has been chopping in a wide range between about 152.00 and 159.00 since late January, with alternating large-bodied bullish and bearish candles pointing to a tug-of-war between opposing forces.
Gold recovers modestly despite intensifying Middle East crisis
Gold keeps its daily gains well in place, although a break above the $5,200 mark per troy ounce still remains elusive on Wednesday. The yellow metal’s rebound comes in response to the persistent flight-to-safety amid intense geopolitical tensions in the Middle East and the bearish performance of the US Dollar.
Morgan Stanley files amended S-1 for spot Bitcoin ETF
Morgan Stanley submitted an amended S-1 filing to the US Securities and Exchange Commission on Wednesday, providing additional details on its proposed Bitcoin exchange-traded fund.
First Venezuela, now Iran: The US-China energy war escalates Premium
At first glance, the latest escalation involving the United States with both Iran and Venezuela looks like another chapter in a long-running geopolitical story. But viewed through a broader strategic lens, something else may be unfolding: Energy.
Here is what you need to know on Thursday, March 5:
The US Dollar (USD) eased on Wednesday after a two-day rally drove the US Dollar Index (DXY) near the 100.00 mark. The Greenback ignored the positive employment data and ISM Services PMI as the ongoing war between the US and Iran weights on sentiment.