The ingredients for more rangebound trading are all there – ING
Source Fxstreet
US markets re-open today after an uneventful Monday for global markets. Economists at ING markets’ outlook.
Markets unimpressed with China's rate cut
The US calendar is unlikely to be a big driver today. China is once again the focus as banks reduced their five-year loan prime rates by a record 25 bps to 3.95% overnight, the first move of this kind since June. This kind of monetary easing has a generally higher impact on the property market, but once again markets have shown little enthusiasm.
We favour a strong Dollar in the near term as US data remains supportive, but this looks increasingly to be the perfect recipe for range-bound trading.
In DXY terms, 104.00/105.00 may hold as a range in the short run.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Ethereum has surged over 20% in the past eight days, far outpacing Bitcoin's gains, suggesting that capital is favoring more volatile altcoins.On March 17 (GMT+8), the crypto market ralli
Gold (XAU/USD) edges higher during the Asian session on Tuesday, though it lacks follow-through and remains close to an over three-week low, touched the previous day.
AUD/USD gained around 1.25% on Monday, bouncing from last week's lows to settle around 0.7070. The pair has been in a choppy range since peaking near 0.7190 in early February, with price pulling back repeatedly toward the 0.7000 area before recovering.
Bitcoin (BTC) extends gains, trading above $73,000 at the time of writing on Monday, following a bullish breakout from the consolidation pattern it had been trading since roughly the past six weeks.
Breaking: Gold falls below $5,000 as oil-driven inflation fears weighGold price (XAU/USD) tumbles to around $4,980 during the early Asian session on Monday. The precious metal faces some selling pressure despite intense geopolitical conflict in the Middle East. Traders will closely monitor the developments surrounding the United States (US)-Israel war with Iran.
Gold price (XAU/USD) tumbles to around $4,980 during the early Asian session on Monday. The precious metal faces some selling pressure despite intense geopolitical conflict in the Middle East. Traders will closely monitor the developments surrounding the United States (US)-Israel war with Iran.
Related Instrument
