Gold futures are currently experiencing a decline of 0.51%, amounting to a drop of $10.40. Surprisingly, this decline is higher in percentage terms compared to the gains witnessed in the dollar today. As gold is paired against the dollar, there exists a strong inverse correlation between the strength or weakness of the dollar and the
Forecasts
The US dollar experienced a slight retreat during Wednesday’s trading session, encountering resistance at the 200-Day Exponential Moving Average (EMA). The current market presents a challenging situation as traders grapple with determining which central bank’s policy to follow. While the US Federal Reserve has expressed potential rate cuts in 2024, the Bank of Japan has
China plays a crucial role in the Australian economy, accounting for one-third of Australian exports. The increased demand for Australian products from China is expected to provide a significant boost to the Australian economy and the value of the Australian dollar. This positive development comes at a time when Australia already has a trade-to-GDP ratio
The Bank of Japan (BoJ) is expected to shift away from its current negative rates policy, but the timing of this transition remains uncertain. Economists are divided on when the BoJ will make the move, with 80% expecting an exit from negative rates in 2024 and only 20% betting on a January pivot. This ambiguity