The New Zealand Dollar (NZD) gained momentum in Thursday’s early Asian session, reaching as high as 0.6280 against the US Dollar (USD). This increase of 0.57% on the day was largely attributed to New Zealand’s business confidence soaring to its highest level in a decade. According to the recent ANZ Business Outlook Survey, the headline
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The Indian Rupee (INR) has been facing pressure in recent trading sessions, with sellers entering the market during the early Asian session on Wednesday. This downward movement can be attributed to the weakening of Asian currencies and increased demand for the US Dollar (USD) from importers. However, despite these challenges, positive developments in the domestic
In recent trading sessions, NZD/USD has surged beyond key resistance levels, hitting highs above 0.6120. This surge has been accompanied by a major bullish trend line forming with support at 0.6120 on the 4-hour chart. At the same time, Gold has entered a consolidation phase and could potentially climb above $2,525. Meanwhile, EUR/USD and GBP/USD
The U.S. dollar has been struggling to maintain its strength against a basket of peers, hovering near its lowest point in more than a year. With sterling reaching multi-year highs, the focus is on the potential size of the anticipated U.S. interest rate cut next month. This uncertainty is reflected in the market’s movements, particularly
Xpeng, a Chinese electric car company, recently launched its new mass-market brand, Mona, with prices starting as low as $16,812. This price point significantly undercuts Tesla’s Model 3, making Mona an attractive option for budget-conscious consumers. The company reported that orders for the Mona M03 electric coupe exceeded 10,000 just 52 minutes after the car’s
The current economic outlook, as detailed in various expert opinions, presents a mixed bag when it comes to the labor market. While the rise in unemployment in Australia is not solely attributed to job losses, it still raises concerns about the overall health of the labor market. AMP Head of Investment Strategy and Chief Economist,
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The collaboration between Xpeng, a Chinese startup, and Volkswagen, the German auto giant, has been making waves in the electric car industry. The two companies are working together to develop electric vehicles specifically for the Chinese market. With Volkswagen’s $700 million investment in Xpeng, the partnership aims to launch two electric cars in China by
Deutsche Bank economists have stated that a rate cut in September is highly likely, with the specific magnitude remaining up in the air. They predict that the size of the rate cut will be heavily influenced by labor market data. The current stance is that there will be a 25 basis points rate cut at
The GBPUSD pair recently broke above the previous peak on 7.14.2023 high at 1.3143, indicating a higher high bullish sequence from the 9.26.2022 low. This breakout confirms the upward trend of the pair, leaving no doubt about its direction. The rally from the 4.22.2024 low is currently unfolding as a 5-wave impulse Elliott Wave structure.
In Tuesday’s early Asian session, the Indian Rupee weakened due to month-end USD demand and higher crude oil prices. Traders are awaiting the US August CB’s Consumer Confidence report and key events later in the week. Analysts predict that the Rupee may trade with a slight positive bias based on global risk sentiments and dovish
The recent comments made by Judo Bank Chief Economic Advisor Warren Hogan regarding the weak new property sales in China and the corresponding decrease in steel demand and production highlight a concerning trend in the global economy. This indicates potential challenges for economic growth and development, especially in key sectors such as real estate and