The GBP/USD pair has experienced a recent downtrend, breaking below key support levels and testing the 1.2300 zone. However, there are signs of a potential recovery as the pair has started to move higher. On the 4-hour chart, GBP/USD has managed to surpass the 23.6% Fibonacci retracement level and also broke a bearish trend line
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The recent fluctuations in global currency markets have had a significant impact on the value of the US dollar compared to other major currencies such as the euro and sterling. Despite a series of robust European activity data releases, the dollar has taken a hit due to a cooling in US business growth. The dollar
German Chancellor Olaf Scholz and Finance Minister Christian Lindner have recently expressed doubts about the reform of Germany’s debt brake. The debt brake, which limits public deficits to 0.35% of GDP, is a hot topic of discussion among politicians, with some calling for adjustments to the system. Challenges Ahead for Reform Scholz stated that he
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The Securities and Exchange Commission (SEC) of the Philippines has taken a firm stance against cryptocurrency exchange Binance. The regulatory body has instructed tech giants Google and Apple to remove Binance from their respective app stores. SEC Chairperson Emilio Aquino highlighted the potential risks posed to Filipino investors by allowing continued access to Binance sites
Gold has experienced a significant pullback this week, dropping to $2300 per troy ounce. The decline since Friday has been over 3.7%, with the trigger being a less severe escalation in the Palestinian-Israeli conflict than initially anticipated. Despite the recent pullback, many analysts view this as a much-needed technical correction. There is a possibility that
As U.S. stocks gear up for a positive open on Tuesday, investors are closely monitoring the performance of mega-cap growth stocks and chip stocks. Companies like Meta Platforms, Microsoft, and Amazon.com have shown marginal gains in premarket trading, setting a positive tone for the market. Additionally, tech majors such as Tesla, scheduled to report their
The GBP/JPY cross has shown some positive movement in response to the release of the optimistic UK Services PMI. The flash UK Services PMI for April exceeded expectations, rising to 54.9 from the previous month’s final reading of 53.1. This news has given the British Pound (GBP) a boost, leading to an upward trend in
The AUD/USD pair has been on an upward trend for two consecutive days, reaching a one-week high near 0.6453. This positive movement follows a period of rapid decline and is supported by encouraging economic data from Australia. The latest manufacturing PMI report for April showed a significant increase to 49.9 points, up from 47.3 the
The Japanese Yen has seen some support from speculations about a potential government intervention in the markets. The possibility of Japanese authorities stepping in has provided a glimmer of hope for investors amidst the currency’s struggles. However, the widening gap in interest rates between the US and Japan continues to pose a significant challenge for
Gold prices recently experienced a downside correction from its recent high of $2,430. The price traded below a key bullish trend line with support at $2,375 on the 4-hour chart. This correction led to a breach of the 23.6% Fib retracement level of the previous upward move from $2,147 to $2,431. Additionally, the price is