The recent struggle for crude oil prices to clear the $80.00 resistance zone has been evident in the market. Despite the recovery above the $78.00 and $78.80 levels, prices faced a downward pressure after spiking above $80.00. Analyzing the 4-hour chart of XTI/USD, it is evident that the price initiated a fresh decline from the
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Warren Buffet recently made headlines when it was revealed in a regulatory filing that he owns the exact same number of shares in Apple as he does in Coca-Cola. This observation has left many of his followers speculating whether this is a coincidence or a strategic move on Buffett’s part. The equal 400 million share
In July 2024, inflation in the United States dipped below 3%, marking the first time it had fallen below this level in over three years. This decline in inflation has been attributed to various factors, with some areas of the economy experiencing disinflation, where prices are still increasing but at a slower rate, and others
The current market trend seems to be shifting its attention towards growth-related macro data rather than inflation risks. This shift in focus can have significant implications for the Nasdaq 100 and other benchmark US stock indices. The fear of a recession or hard-landing scenario seems to be looming over the market, especially with concerns about
Gold prices experienced a rebound after a post-CPI selloff, with the US Dollar Index playing a significant role in the recovery. The article delves into the factors influencing the movement of gold prices and the potential challenges faced by the US Dollar Index in the near future. The article highlights the unexpected selloff in gold
Asian stocks have shown firmness in their performance on Thursday, with gains in regional equities following the positive momentum on Wall Street. Japan’s Nikkei rose by 0.5%, Australia’s stock benchmark was up by 0.1%, and China’s blue chips added 0.4%. However, Hong Kong’s Hang Seng experienced a slight decline of 0.3%. The optimistic trend in
The US Retail Sales data has significantly impacted the market sentiment, especially in relation to the US CPI Report and the Fed rate path. Chief Economist Parker Ross highlighted the resurgence of core services inflation in July, signaling a bounce back from previous lows. This shift has brought attention to the US labor market data
The AUD/JPY cross has gained momentum near 97.55 in Thursday’s Asian session, rising 0.36% on the day. The improved Chinese July Retail Sales data has provided support to the Australian Dollar. Data released by the National Bureau of Statistics of China showed that Retail Sales rose by 2.7% YoY in July, exceeding market expectations. This
The USD Index (DXY) showed a pattern of sustained selling pressure, leading to a subdued price action in the market. This decline was further reinforced by the release of July’s CPI data, indicating a downward trend in US inflation rates. As a result, the DXY dropped to multi-day lows around 102.30. On the other hand,
The AUD/USD pair is currently consolidating gains near the 0.6620 zone after starting a downside correction from 0.6640 against the US Dollar. The pair managed to clear the 0.6580 resistance and move into a positive zone, closing above the 0.6600 resistance and the 50-hour simple moving average. However, the pair is now correcting gains and
UBS CEO Sergio Ermotti recently expressed concerns about the potential intensification of market volatility in the second half of the year. While global equities experienced sharp sell-offs due to weak economic data from the U.S., Ermotti does not believe that the country is necessarily heading into a recession. However, he did acknowledge the possibility of
The Commonwealth Bank of Australia, the largest lender in the country, recently reported a decrease in its annual cash profit that was smaller than expected. Despite facing challenges such as a dip in margins and an increase in overdue home loan payments, the bank managed to declare its highest-ever dividend. This news comes at a