The U.S. Dollar Index has shown little movement following the release of the Chicago PMI report. According to the report, the index declined from 55.8 in November to 46.9 in December. Despite this significant drop, the U.S. Dollar Index has not shown any major reaction. Traders are closely monitoring the index’s movement, particularly if it
Forecasts
The beginning of the year was tough for the Australian dollar, as it struggled to gain strength against major currencies. It encountered a significant hurdle at the 0.7150 region, where the 200-Week EMA loomed large. This resistance proved insurmountable, especially as the Federal Reserve began tightening its monetary policy. It’s no surprise that the US
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 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
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
In the world of finance, it is essential to approach information with a critical eye. The content provided on various platforms, including websites, should be seen as a starting point for further research, rather than definitive guidance for making financial decisions. This article aims to shed light on the limitations of financial information and the
During Thursday’s trading session, the dollar experienced a significant decline, particularly against the yen. This decline has brought the currency perilously close to the crucial support level of 141 yen. Many market participants are closely monitoring this level to assess the future trajectory of the dollar. Additionally, the uptrend line is also at risk of
Gold futures continue to surge in the market, with the most active February 2024 futures contract currently up by $9.80, fixing at $2089. This price is just a few dollars below one of the highest closing prices recorded recently, reaching $2091 on Friday, December 1. Over the last four trading days, gold has experienced a
The end of the year has brought about contrasting monetary policy decisions between the Federal Reserve (Fed) and the Bank of England. While the Fed has signaled rate cuts for 2024, three members of the Bank of England’s Monetary Policy Committee voted for a 25-basis point interest rate hike. This significant difference in policy decisions
The latest economic data from Japan has provided a mixed picture, with retail sales showing an increase while industrial production experienced a decline. Meanwhile, market participants are closely monitoring the US labor market indicators and housing sector data. The implications of these factors on the USD/JPY exchange rate and the overall economic landscape need careful
The Commonwealth Bank of Australia (CBA) has recently released its predictions regarding the Reserve Bank of Australia’s (RBA) interest rate cuts. According to CBA’s chief economist, the RBA is expected to reduce interest rates from 4.35% to 3.6% by the end of 2024. The chief economist also predicts that the RBA will initiate these rate