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Cocoa Price And Overview

Cocoa Price And Overview

Photo by Alexandre Brondino on Unsplash  Cocoa, the essential ingredient in chocolate, is also a significant player in the global commodity market. In this article, we will begin by defining cocoa in the trading context and explore the various marketplaces where it changes hands. Next, we’ll delve into the different methods used to trade cocoa, including […]
Tesla Eyes Dogecoin Payments: A 2024 Vision

Tesla Eyes Dogecoin Payments: A 2024 Vision

Image Source: DepositPhotosDogecoin’s journey from a niche internet joke to a cryptocurrency powerhouse is a tale of social media influence and market dynamics, with Tesla Inc. CEO Elon Musk playing a pivotal role. Musk’s initial tweets about Dogecoin in 2019, proclaiming it his favourite cryptocurrency, set the stage for the token’s explosive growth. Amid a […]
Yen Weakens Despite Japan’s Deflation Exit

Yen Weakens Despite Japan’s Deflation Exit

Image Source: Unsplash  The USD/JPY pair is rising, reaching 148.28 on Friday. The US dollar is strengthening across the market following the release of US retail sales data.This information is prompting market participants to reassess their expectations for the future of the US Federal Reserve’s interest rate policy. The Fed could interpret strong retail sales as […]
EUR/USD Trades At Make-or-break Level After Thursday’s Sell-off

EUR/USD Trades At Make-or-break Level After Thursday’s Sell-off

Image Source: DepositPhotosEUR/USD is trading in the 1.0800s on the last day of the week after taking a step down from its previous range in the 1.0900s. The catalyst seems to have been Thursday’s US macro data, which dented optimism in the Federal Reserve (Fed) implementing early interest-rate cuts. Thursday’s data showed the US Producer Price Index (PPI) […]
Gold Holds Around Record High

Gold Holds Around Record High

Gold is set to end a run of three straight weekly gains.Yet, spot gold is still holding around its new all-time high, posted just a week ago.Bullion has remained fairly resilient despite this week’s hotter-than-expected US CPI and PPI data, which may force the Fed to delay its rate cut plans.  Bullion easing away from severely overbought conditionsThis recent […]
Bank Of England To Sit Tight And Await Crucial April Inflation Data

Bank Of England To Sit Tight And Await Crucial April Inflation Data

Expect the Bank of England to use Thursday’s decision to reiterate that rates need to stay restrictive for an extended period of time, a signal that it’s too early to contemplate policy easing. We expect the first rate cut to come in August. The Bank’s forward guidance isn’t likely to change – yetThe Bank of England […]
EURUSD Tests Channel Support: Bounce Or Breakdown?

EURUSD Tests Channel Support: Bounce Or Breakdown?

EURUSD has encountered a hurdle in its uptrend, reaching the lower boundary of a technical indicator. This analysis examines the current situation and explores potential scenarios for the currency pair. Uptrend at a Crossroads: Channel Support in Focus: EURUSD has reached the bottom of the rising price channel on the 4-hour chart. This technical pattern has been guiding […]
The Recession Hit Dollar Stores “People Can No Longer Afford To Shop”

The Recession Hit Dollar Stores “People Can No Longer Afford To Shop”

Image Source: Pexels  More recession signals. We’ve got the major dollar store chains in the US closing stores and reporting troubling results about consumer behavior. Those are now backed up by hard evidence in the form of retail sales, which have been much worse than initial thought. Behind everything, the looming recession, is the fact oil […]
AUD/USD Forecast: Aussie Continues To Grind Away

AUD/USD Forecast: Aussie Continues To Grind Away

If we were to break down below the candlestick from Tuesday, ostensibly breaking below the 50 day EMA, then it’s possible that the Australian dollar drops down to the 0.65 level. The Aussie dollar continues to trade in a tight range, as it looks like a lot of the major currency pairs are simply “stuck“ […]
The Commodities Feed: IEA Sees Tighter Oil Market

The Commodities Feed: IEA Sees Tighter Oil Market

Photo by Martin Adams on Unsplash   Oil rallied to its year-to-date highs yesterday as the International Energy Agency said it is now expecting a supply shortfall of around 0.3MMbbls/d for the year. Meanwhile, escalating tensions between Russia and Ukraine continued to provide support.  Energy: Oil rises on the IEA’s oil supply deficit forecastsICE Brent surged above US$85/bbl while NYMEX […]