Upon analyzing the XAU/USD chart, it is evident that the price of gold experienced a significant increase above the $2390 level on Friday, July 5th. However, this rise was short-lived as the price fell back to $2360 per ounce on Monday. This inconsistency in market behavior suggests a lack of sustained bullish momentum, signaling a
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Turkey’s Statistical Institute (TUIK) has faced criticism over its inflation data, raising concerns about the credibility of the figures. Historical data on product prices beyond May 2022 was not available, and there were questions about the transparency of the calculations. The recent release of data showing a decrease in annual inflation to below 72% in
Despite the initial surprise from France’s election results, the EUR/USD pair continues to rise for the sixth day in a row, reaching around 1.0830 during the Asian trading session on Tuesday. The unexpected victory of a leftist alliance in France has prevented Marine Le Pen’s far-right party from dominating the leadership race, leading to a
The U.S. dollar is facing pressure as it lingers near a multi-week low against major peers following a weak jobs report. Investors are anxiously awaiting Federal Reserve Chair Jerome Powell’s testimony for hints on the future of interest rates. The euro, on the other hand, remains stable due to a hung parliament in France, signaling
A recent research note by Stifel indicated that there is a 40% chance that President Joe Biden will not seek re-election. This uncertainty comes as Congress returns from its Fourth of July recess, marking a critical point in the President’s campaign. Brian Gardner, the firm’s chief Washington policy strategist, believes that this week will be
Chip stocks rallied on Monday, propelling the Nasdaq and S&P 500 to record highs. Nvidia surged 2.5%, Super Micro Computer, a company that creates AI-optimized servers using Nvidia’s chips, soared nearly 9%. Intel also saw an increase of almost 6%. The Nasdaq hit a record high, while the S&P 500 rose modestly to set a
The US Dollar faced a challenging week, dropping by 0.80% and reaching its lowest level since mid-June. Investors are closely watching the upcoming release of the June inflation figures and Federal Reserve talks. The market is currently pricing in less than a 10% probability of a rate cut in July and approximately 80% odds in
When it comes to making financial decisions, it is crucial to conduct thorough due diligence checks. The information available on websites may not always be accurate or provided in real-time. Therefore, it is essential to verify the information independently before making any investment decisions. It is important to note that any trading or financial decision
France’s left-wing New Popular Front (NFP) has recently emerged as the leading bloc in the next parliament, despite not having a working majority. This alliance is comprised of various parties, including the Communist Party, France Unbowed, the Greens, and the Socialist Party. Typically, the President would select a prime minister from the largest political force
The upcoming June inflation report, scheduled for release on July 11, is generating significant buzz among investors and economists. Market predictions suggest a minimal 0.1% month-over-month increase and a 3.1% year-over-year change, with core CPI expected to see a 0.2% uptick. While Bank of America is in alignment with these projections, their forecast leans slightly
The AUD/USD pair has recently hit a six-month high, reaching 0.6752 and showing consistent gains over the past five days. The main driver behind this surge in the Australian dollar is the growing belief among investors that the Reserve Bank of Australia (RBA) may take a different approach than other central banks. Speculation is rife
The Gold price has lost momentum below the $2,400 barrier on Monday due to the Chinese central bank halting its gold buying for the second month in June. China, being the world’s biggest bullion consumer, plays a significant role in influencing the price of gold. This pause in gold buying could weigh on the price