AUDUSD has made a significant move by breaking decisively above a sideways pattern that it has been trading within for over two months. This breakout has propelled the price to its highest level since January 2024, marking a notable shift in the market sentiment. Resistance and Support Levels With the pair now marching towards fresh
In the week ending July 5, foreign investors made significant investments in Japanese stocks, amounting to a net purchase of 916.05 billion yen. This surge was primarily driven by a market rally and the optimism surrounding solid corporate earnings in the second half of the year. The Nikkei share average saw a significant jump of
China’s aggressive pursuit of robotaxi technology is gaining momentum, with local governments giving the green light to domestic companies to offer autonomous taxi services to the public. While consumers are embracing this new form of transportation, it is causing concern among traditional taxi drivers who fear losing their jobs to increasing competition. The surge of
Analyzing the past performance of the 4H Hour Elliott Wave chart of VanEck Gold Miners ETF ($GDX) reveals an interesting pattern. The rally from 2.28.2024 low at $25.64 unfolded as a 5 waves impulse, indicating a strong bullish momentum. This suggested that a pullback would occur in 3 swings before finding buyers again. The 4H
President-elect Prabowo Subianto of Indonesia is reportedly planning to increase the nation’s debt-to-GDP ratio to 50%, as long as tax revenues are also boosted. This proposed economic policy has sparked concerns among investors and economists, particularly given the potential impact on Indonesia’s credit rating. Prabowo’s brother and adviser, Hashim Djojohadikusumo, emphasized the importance of simultaneously
In recent years, silver prices have been on an upward trend due to a supply and demand gap that seems to be widening. Demand for silver has consistently outpaced supply for the past five years, leading to a shortage in the market. This imbalance has been primarily driven by the surge in industrial demand, which
Jerome Powell’s recent visit to the House Financial Services Committee stirred up some uncertainty in the markets. Despite his reluctance towards immediate rate cuts, investors are eagerly awaiting the release of June’s Consumer Price Index (CPI) data on Thursday for clearer guidance. Powell’s hints at ongoing data assessment have kept the markets on edge, with
Wall Street is abuzz with anticipation as a new wave of cryptocurrency exchange-traded funds prepare to hit the market, this time focusing on ethereum. The imminent arrival of spot ether ETFs has investors and experts alike eagerly awaiting U.S. Securities and Exchange Commission approval, potentially as early as this week. Among those gearing up for
The dollar saw a slight decline following Federal Reserve Chair Jerome Powell’s indication that the U.S. central bank is nearing a decision to cut interest rates. Powell emphasized the need for further declines in inflation before making a final decision. This cautious stance taken by Powell comes as the consumer price index (CPI) data is
The Bank of England’s Chief Economist, Huw Pill, recently made remarks that cast doubt on the possibility of an interest rate cut in August. Despite headline inflation falling to the BoE’s 2% target in May, Pill highlighted the strong price pressures within Britain’s economy as a key factor to consider. He pointed to services inflation
The New Zealand dollar, also known as the Kiwi, has taken a significant hit as it experienced a sharp decline against the US dollar, reaching a 4-week low. This downward trend can be attributed to a dovish shift in the latest monetary policy statement released by the Reserve Bank of New Zealand (RBNZ), leading to
Renowned investor Bill Gross has raised concerns about Tesla’s recent performance in the market. He argues that the electric vehicle company is starting to resemble a speculative play among retail investors. Gross, who co-founded Pimco and was once a dominant figure in the U.S. bond market, pointed out that Tesla’s behavior is reminiscent of a