Page 63 - Simple Moving Average News Today

The global crypto market is on a positive trend as participants anticipate the unfolding of long-awaited events.

The US Dollar (USD) Index trades with noteworthy gains at 102.60, having successfully reclaimed the 20-day Simple Moving Average (SMA).

The Canadian Dollar (CAD) is falling for the fifth consecutive trading day against the US Dollar (USD), with the Greenback getting bolstered against the broader FX market after the US ISM Manufacturing Purchasing Managers’ Index (PMI) for December came in above expectations, despite still printing in contractionary territory below the 50.0 midline.

Further gains are on the cards for West Texas Intermediate (WTI) US Crude Oil after a recovery rally on Wednesday propped up barrel bids to retest the $73.00 handle as the Organization of the Petroleum Exporting Countries (OPEC) is set to bring about further production cuts in an effort to bolster flagging Crude Oil prices.

Gold price (XAU/USD) attracts some buyers during the Asian session on Tuesday and for now, seems to have snapped a two-day-old losing streak.

Gold price has started off the first trading day of 2024 on the front foot, having eked out a 14% annual gain in 2023.

The Japanese Yen (JPY) ticks lower against its American counterpart amid relatively thin liquidity during the Asian session on Monday, albeit remains well within the striking distance of a five-month high touched last Thursday.

EUR/USD stays on the back foot and trades modestly lower on the day below 1.1050 in the first European session of 2024.

The Canadian Dollar (CAD) continues to ease back as the 2024 trading year gets underway, extending near-term declines against the US Dollar (USD) to fall a full percentage point as the first trading week of the new year gets underway.

The EUR/USD pair edged sharply lower on Tuesday, bottoming at 1.0940 and holding nearby ahead of Wall Street’s close.