USDCAD, the currency pair consisting of the US dollar and the Canadian dollar, is currently on the path to recovery after a significant decline in December. While positive momentum is gaining traction, it is still uncertain whether this is just a temporary respite or the beginning of a sustained rebound. After reaching a five-month low
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The NZD/USD pair is showing signs of revisiting its five-month high at 0.6369, thanks to the positive sentiment in the market. The Kiwi Dollar is benefiting from the prevailing risk-on mood, while market participants anticipate a dovish stance from the Federal Reserve (Fed) due to lower US bond yields. Despite the pressure on US yields,
Vietnam’s economic growth has experienced a significant slowdown in 2023, dropping to 5.05% from 8.02% the previous year. This disappointing performance was influenced by weak global demand and a decline in public investment due to an intensified anti-graft campaign. The country’s export sector, which heavily contributes to its overall GDP, witnessed a decline of 4.4%
The Australian Dollar (AUD) has seen a fresh increase against the US Dollar (USD), moving above key resistance levels. On the hourly chart of AUD/USD at FXOpen, the pair started a positive move from the 0.6725 support. After clearing the 0.6760 resistance, the Aussie Dollar was able to enter a positive zone. It also closed
GBPUSD has recently reached a four-month peak of 1.2826, signaling a positive bias. The pair has been forming a profound structure of higher highs since breaking above a crucial descending trendline in early November. This rally may be short-lived, but the impending completion of a golden cross between the 50- and 200-day simple moving averages
One of the critical factors that will significantly impact the price structure of gold over the next three years is the monetary policy of the Federal Reserve. The shift from quantitative tightening to quantitative easing, combined with anticipated rate cuts, creates a favorable environment for a dynamic rally in gold. In 2024, the Federal Reserve
On Thursday, the GBP/USD experienced a decline of 0.51%, partially reversing the 0.58% rally seen on Wednesday. The currency pair ended the day at $1.27322, with a high of $1.28273 and a low of $1.27121. In the upcoming days, investor interest will be focused on UK house prices for December and US Chicago PMI numbers.
The gold price has rebounded near $2,070 per troy ounce during the Asian session on Friday, regaining ground lost in the previous session. The recent strength of the US Dollar had dampened the appeal of the yellow metal. However, softer economic data from the United States has put a limit on the Dollar’s advance, leading
The USD/JPY experienced a 0.31% decline on Thursday, following a 0.41% loss the day before. The session ended with the USD/JPY at 141.368. This decline came after reaching a high of 142.822 and dropping to a low of 140.249. Key economic indicators from Japan have raised speculations on a potential Bank of Japan pivot from
Asian stocks are poised to break a two-year losing streak on the last trading day of the year, as investors remain optimistic about the Federal Reserve’s potential interest rate cuts in the coming year. Despite a relatively flat performance on Friday, MSCI’s broadest index of Asia-Pacific shares is expected to end the year with a
After failing to maintain stability above the 145.00 support level, USD/JPY has embarked on a major decline. The 4-hour chart reveals that the pair has broken below the 143.20 support zone, indicating a shift into a bearish zone. Furthermore, USD/JPY has dropped below the 142.50 level, as well as the 100 and 200 simple moving
The AUD/USD exchange rate experienced a decline of 0.30% on Thursday, following a slight gain of 0.33% the day before. This indicates a volatile trading session for the Australian dollar, as it ended the day at $0.68261. Throughout the session, the AUD/USD reached a high of $0.68710 before dropping to a low of $0.68242. Several