Page 67 - Simple Moving Average News Today

The EUR/USD is gaining ground in thin post-holiday markets as investors gear up for the new year and head towards 2024 with sentiment leaning notably risk-on, pushing the US Dollar (USD) down once more in the last partial trading week of the year.

In the case of Wipro, Axis Securities said the IT stock has recently demonstrated a robust breakout above the neckline of the 'Inverted Head & Shoulders' pattern at Rs 444, accompanied by a strong bullish candle. This it said, indicates a positive bias.

The caution is advised as certain sectors appear to be in overbought territory potentially setting the stage for profit-booking. This could notably impact mid and small-cap equities, says Om Mehra, Technical Analyst, SAMCO Securities.

Currently, the Indian stock markets are trading at lifetime high levels setting a perfect stage for the eagerly awaited Santa Claus rally.

Today, there’s a momentous trend in the crypto assets market. A quarter of the coins have positive shifts, while many are down.

The USD/MXN began the year near the highs for 2023, extending the downtrend that started in April 2020 for the third consecutive year.

The Standard & Poor’s (S&P) 500 major equity index climbed on Thursday to chew through late Wednesday’s losses as investor risk appetite surged higher after US inflation figures came in below expectations, ramping up investor hopes of a faster, deeper pace of rate hikes from the Federal Reserve (Fed) in 2024.

The AUD/USD rebounded from near 0.6715 and climbed to 0.6800, reaching a fresh four-month high.

The Japanese Yen (JPY) struggles to build on its strong gains registered over the past two days against the US Dollar (USD) and ticks lower during the Asian session on Friday.

Gold price (XAU/USD) gains positive traction for the second straight day – also marking the fourth day of a positive move in the previous five – and climbs to a near three-week high, around the $2,055 region during the Asian session on Friday.