The recent comments from the Federal Reserve had a significant impact on the gold market, leading to a 3% increase initially. However, the dollar’s recovery later in the day caused this gain to dwindle to just 0.5%. This volatility in the market showcases the uncertainty and unpredictability that investors are currently facing. While the technical
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The recent surge in immigration into the U.S. is proving to be beneficial for the economy, according to Joyce Chang, chair of global research at JPMorgan. Despite facing global challenges, the U.S. economy is displaying resilience, with the Federal Reserve raising its GDP growth projection to 2.1% for 2024. This increase comes after the economy
USDCAD recently experienced a flash drop to 1.3454 but managed to recover successfully. The pair closed Thursday’s session above both the 50-day and 200-day Simple Moving Averages (SMAs), indicating a strong bullish momentum. This recovery has allowed USDCAD to maintain its position within a short-term bullish channel. On Friday, the bulls took charge and drove
When looking for financial advice or information online, it is crucial to exercise due diligence and critical thinking. Many websites, including FX Empire, provide content for educational and research purposes only. It is important to remember that this content should not be taken as personalized advice. Each individual’s financial situation is unique, and blindly following
The U.S. existing home sales have surged to a one-year high in February, showing a promising trend for the upcoming spring selling season. The National Association of Realtors reported that home sales increased by 9.5% last month to a seasonally adjusted annual rate of 4.38 million units, the highest level since February 2023. This marks
The Federal Reserve’s recent decision to maintain the dot plot view for interest rate reductions this year has resulted in a direct response in the markets. Federal Reserve Chair Jerome Powell’s accommodative stance following the FOMC meeting has led to a decline in the dollar. Powell’s willingness to maintain vigilance on inflation while indicating a
In a recent blog post on the International Monetary Fund (IMF) website, Managing Director Kristalina Georgieva warned about the growing pressure on central banks to cut interest rates during a major election year. She highlighted the importance of maintaining central bank independence, stating that policymakers need to resist these pressures. Georgieva emphasized that central banks
The AUDUSD pair has been experiencing a steady decline since early March, slipping below both its 50- and 200-day simple moving averages (SMAs). However, following dovish signals from the FOMC, the pair managed to reverse its downward trend and reclaim the SMAs. This recovery comes as a result of the market reacting positively to the
The EUR/USD pair gained ground for the second consecutive session following the Federal Reserve’s decision to maintain its benchmark rates at 5.5%. Fed Chair Jerome Powell’s remarks in the post-meeting press conference highlighted a dovish stance, which added further pressure on the Greenback. Powell pointed out that while inflation is showing signs of moderation, the
The latest economic data reveals that exports have surged by 7.8% year-on-year, showcasing a positive trend in international trade. On the other hand, imports experienced a more modest growth of 0.5%. Notably, Japanese exports to the US have seen a substantial increase of 18.4% year-on-year, while exports to Western Europe also demonstrated a significant rise
The National Retail Federation (NRF) recently projected that U.S. retail sales are expected to increase by up to 3.5% in 2024, which is a slower pace compared to the growth seen in 2023. This forecast comes at a time when inflation is proving to be a significant hindrance to a robust recovery in consumer spending.
Tokio Marine, a Japanese insurer, is setting its sights on overseas acquisitions and could potentially spend around $10 billion on such ventures. The co-head of the company’s international business, Chris Williams, revealed that Tokio Marine’s international business now contributes more than 50% of the company’s profits, a significant increase from less than 3% two decades