WTI futures have been exhibiting a bullish trend since December, with prices reaching a six-month high recently. Despite a slight retreat from the peak, the price found support at the 50-day SMA, indicating a potential for further upward movement. The price movement of WTI futures suggests a possibility of a rebound, with immediate resistance seen
Potential
Former CEO of cryptocurrency exchange Binance, Changpeng Zhao, is facing a potential 36-month sentence for charges related to enabling money laundering. U.S. prosecutors are seeking a sentence above the recommended guidelines in order to reflect the seriousness of the crimes committed. The suggested advisory sentencing range for Zhao falls between 12 to 18 months, but
The recent movement in gold prices has been relatively stagnant, with minimal fluctuations as traders closely monitor U.S. economic data. The price of gold edged up slightly to $2,325.23 per ounce, but overall market sentiment remains cautious. The focus is on the upcoming GDP and PCE reports, as they have the potential to influence the
Xiaomi, the Chinese smartphone company, has seen overwhelming success with its new electric vehicle, the SU7 sedan. With over 70,000 orders received as of April 20, the company is well on its way to achieving its goal of delivering 100,000 units this year. This comes as a surprise, considering the SU7 is priced $4,000 lower
The Indian Rupee (INR) faced some challenges on Wednesday as a result of increased demand for the US Dollar (USD) and the belief that the US Federal Reserve won’t be cutting interest rates anytime soon. However, despite these setbacks, the INR managed to hold its ground due to positive signals from the local stock market
GBP/USD has shown signs of a recovery as it bounced back from the support level of 1.2300. The pair managed to break a bearish trend line with resistance at 1.2420 on the 4-hour chart, indicating a potential shift in momentum. Despite testing the 1.2300 zone, the pair has started a wave of recovery and is
The European market is currently experiencing strong business activity indicators, which have contributed to pushing the euro above $1.07. This surge in the euro’s value has been influenced by promising news from Tesla, with the electric vehicle maker’s shares seeing a significant increase of 13% in after-hours trading. It is worth noting, however, that despite
The recent data showing a surprisingly robust business activity in the euro zone has had a significant impact on the currency market. The euro strengthened against the dollar, causing the dollar index to drop. This unexpected boost in European activity has raised questions about the strength of the U.S. economy in comparison to its European
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The disclaimer on this financial website underscores the importance of performing due diligence before making any financial decisions. It emphasizes the need for individuals to conduct their research, seek advice from competent advisors, and use their discretion when it comes to investments. This is a crucial point to consider, as many individuals may be tempted
The AUD/USD pair has been on an upward trend for the second consecutive day, reaching a one-week high near 0.6453. This positive movement follows a period of rapid decline and is supported by encouraging economic data from Australia. The latest manufacturing PMI report for April showed a significant increase to 49.9 points, up from 47.3
The price of gold has experienced a significant pullback to the $2300 level this week, marking a decline of over 3.7% since the previous week. The main trigger for this downward movement in the gold market seems to be a less severe escalation in the Palestinian-Israeli conflict than initially expected. This unexpected turn of events