The Australian Dollar (AUD) has retreated after posting gains in the previous two sessions, despite the release of improved Australia Consumer Confidence data on Tuesday. The Westpac-Melbourne Institute Consumer Sentiment index surged 6.2% to 86 in February from 81 in January, marking its highest reading in 20 months. However, the index remained below the neutral
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The Nikkei, Japan’s benchmark stock index, continues its impressive run in 2024, reaching yet another 34-year peak. With the yen teetering towards the closely watched 150 per dollar level, the Nikkei shows no signs of slowing down. This year alone, the index has breached multi-decade highs almost every other day, inching closer to its all-time
The USD/JPY experienced a small gain of 0.07% on Monday, recovering from a slight loss the previous day. This article will delve into the factors that contributed to this movement and examine the potential implications for inflation, monetary policy, and the overall USD/JPY trend. Investors showed interest in the recent release of producer prices from
Gold prices have experienced a fresh decline after failing to break above the resistance level of $2,060. This decline has been triggered by a strengthening US Dollar and a bearish trend in the EUR/USD pair. As a result, gold has traded below key support levels, suggesting the possibility of further downsides in the near term.
In a market that is experiencing a monster rally, the fear of missing out (FOMO) is becoming increasingly prevalent. Julian Emanuel, senior managing director at Evercore ISI, believes that Nvidia’s extraordinary performance is fueling this fear. He has noticed a shift in sentiment among his clients, many of whom experienced the dot-com boom and its
The global stock market has been on a steady rise over the past few weeks, with European stocks opening higher on Monday and world equities reaching their highest levels in more than two years. Investors are eagerly awaiting U.S. inflation data scheduled for release later this week, as it is expected to provide insights into
British financial technology company Revolut is shaking up the financial services industry once again by becoming the first firm in the UK to offer telecom plans. In a groundbreaking move, Revolut is set to provide phone plans to its customers, making it an innovator in the sector. This move signifies Revolut’s expansion beyond digital banking
Gold has always held a crucial role in human history, serving as a store of value and a medium of exchange. In today’s world, it is not only cherished for its shine and beauty in jewelry but also considered a safe-haven asset during times of uncertainty. The recent trends in gold prices in Pakistan depict
The Euro has been experiencing a decline against the US Dollar, falling below the 1.0800 level. However, there are signs of a recovery wave as EUR/USD tests the 1.0720 zone. On the 4-hour chart, the pair has managed to climb above the 1.0750 resistance zone. This move is significant as it surpasses the 23.6% Fib
The AUD/USD pair remains on the defensive during the early Asian session on Monday. With the markets closed in China for the Lunar New Year holidays, trading volume is noticeably light. Traders are now turning their attention to the risk sentiment in the new week. Last week, several Federal Reserve (Fed) officials emphasized that further
The Reserve Bank of Australia (RBA) Governor, Bullock, recently delivered a hawkish outlook on interest rates during the first RBA Press Conference. He stated that inflation would need to return to target before the RBA would consider cutting interest rates. However, during his testimony to lawmakers in Canberra, Bullock presented a less alarming outlook for
The managing director of the International Monetary Fund (IMF), Kristalina Georgieva, expressed her confidence in the global economic outlook despite uncertainties surrounding war and geopolitics. Speaking at the World Governments Summit in Dubai, Georgieva highlighted the resilience of the global economy in the face of challenges. This positive outlook comes as a surprise to many