Traders keeping a close eye on EURNZD have noticed the presence of incomplete bearish sequences in the cycle from the peak on August 21st. This has led to a bearish outlook for the pair, with a target of 1.7329 area. Traders have been advised to avoid buying and instead focus on short positions. A recent
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Indonesia has taken significant measures to reduce its 2023 budget deficit, signaling a commitment to economic stability despite challenges in the global economy. The finance minister, Sri Mulyani Indrawati, announced that the deficit has been lowered to 347.6 trillion rupiah ($22.48 billion), equivalent to 1.65% of gross domestic product (GDP) based on unaudited figures. Indonesia’s
Gold price (XAU/USD) has started the new year on a positive note, reversing a major part of its recent losses. The precious metal remains in a modest uptrend, benefiting from dovish Federal Reserve (Fed) expectations and geopolitical risks. However, the rising US bond yields and a stronger US dollar may pose challenges to further gains
BYD, the Chinese electric car company, announced on Monday that it has produced over 3 million new energy vehicles in 2023. This puts BYD on track to surpass Tesla’s production for the second consecutive year. While Tesla has not yet released its full-year figures, it stated that it produced 1.35 million cars during the first
Bitcoin’s price has experienced a resurgence following rumors of the approval of a spot ETF. The cryptocurrency broke out of a major declining channel on the 4-hour chart, surpassing the $43,000 resistance level. This bullish movement has signaled a potential upward trend. After breaking multiple hurdles, including the 100 simple moving average (red, 4 hours)
The UK manufacturing sector, which contributes less than 30% to the UK economy, holds significant importance in determining the state of the national economy. Recent signs of a deteriorating sector align with expectations of a UK recession. However, a closer look at the sub-components of the sector provides valuable insights for investors. Prices, Employment, and
The GBP/USD pair is experiencing a decline in the first trading day of 2024, as investors anticipate multiple rate cuts from the Bank of England (BoE) throughout the year. The US Dollar’s modest rebound also contributes to the pair’s losses. According to the CME Group’s FedWatch tool, the markets are pricing in an 88% chance
The manufacturing sector plays a crucial role in the overall economic performance of the Eurozone. Although it contributes less than 40% to the region’s economy, any negative trends in this sector can have significant implications. This article examines the recent developments in the manufacturing sector and analyzes the potential impact on inflation, interest rates, and
China’s significant role in the Australian economy has been a topic of concern for many economists and investors. With China accounting for one-third of Australian exports, any drop in demand from China will undoubtedly have a significant impact on the Australian economy and the value of the Aussie dollar. In this article, we will analyze
The Bank of Israel has made the decision to lower short-term borrowing rates, marking the first time in almost four years that the central bank has eased monetary policy. This move makes Israel the first developed country to lower interest rates. While the bank cited a stabilisation of financial markets since the outbreak of the
Peru’s inflation rate for the year 2023 closed at a mere 3.24%, marking the lowest annual rate in three years, according to official data revealed on Monday. This slight rise in consumer prices in December brought a glimmer of hope for the country, which is currently grappling with a severe economic recession. The central bank
Brazil’s Vice President Geraldo Alckmin recently announced a set of government measures aimed at revitalizing the country’s economy and boosting investment in transportation and machinery. These initiatives are part of President Luiz Inacio Lula da Silva’s plan to “re-industrialize” Brazil, which has been struggling to recover its industrial output since the pandemic. The government intends