The Central Bank of Australia announced today that it will maintain the current interest rate of 4.35%, as anticipated by analysts. However, the bank’s management raised concerns about persistently high inflation and hinted that further rate hikes may be necessary. This cautious yet firm stance indicates that any possibility of policy easing in the near
Technical Analysis
The US dollar has seen a significant increase in strength against the Euro, with the EUR/USD pair falling to 1.0770 by Monday morning. This movement is largely attributed to the recent release of robust employment sector reports in the US for January, which have shifted investor expectations regarding the Federal Reserve’s interest rate decisions. The
The British Pound (GBP) has started a fresh increase against the US Dollar (USD), with the GBP/USD pair rising above the 1.2625 level. This upward movement comes after the pair formed a base above the 1.2665 resistance zone. The bulls managed to push the pair above the 1.2725 level and the 50-hour simple moving average.
Germany and the Eurozone in an Economic Downturn Germany, one of Europe’s economic powerhouses, is currently facing consecutive economic contractions. This comes at a time when the Eurozone as a whole is grappling with diverse economic conditions. The upcoming flash CPI inflation figures are set to take center stage as they shape market expectations regarding
The British Pound experienced a fresh decline as it encountered selling pressure near 1.2775 against the US Dollar. Currently, GBP/USD is holding the support levels at 1.2620 and 1.2600, potentially signaling the start of a fresh increase. The 4-hour chart reveals some positive signs from the 1.2640 support, as the bulls attempt to push the
EURUSD, a major indicator of Euro’s strength, is currently experiencing a period of indecision. The currency pair is showing sideways movement near the 1.0850 level after two consecutive weeks of negative performance. This lack of a clear recovery signal in the near-term technical outlook reflects the cautious stance of market participants. Traders and investors are
The EUR/USD currency pair is currently experiencing minimal fluctuations as it consolidates around the 1.0840 level. Traders and investors are closely watching the upcoming meeting of the US Federal Reserve System, which is expected to be the pivotal event of the week. This meeting will provide crucial insights into whether the Fed plans to lower
The USD/JPY pair is currently experiencing a downside correction after reaching a peak near 148.80. The pair has traded below a key bullish trend line with support at 147.75 on the 4-hour chart, signaling a possible decline in the near future. Furthermore, the pair has tested the 146.80 support zone and the 23.6% Fibonacci retracement
Gold prices have witnessed a slight decrease of 1% over the past week and a 2% dip since the start of 2024, currently standing near $2,030. This dip in gold prices may be attributed to various factors, including market uncertainties and changes in investor sentiment. The overall market structure on the daily timeframe of XAUUSD
The price of gold has been facing significant challenges in its road to recovery, with resistance at the $2,040 mark posing a major obstacle. This article explores the technical analysis of gold as well as the struggles faced by Bitcoin, providing insights into their future price movements. Gold recently found support around the $2,000 zone
The New Zealand dollar (NZD) begins the week at 0.6116, with minimal change. However, last week witnessed a significant 2% dip, causing the NZD to hit a five-week low. The economic landscape in New Zealand remains challenging, as evidenced by the Performance of Services Index (PSI). The PSI report indicates three contractions in the second
Brent crude oil prices are experiencing a moderate increase as the new week begins, currently hovering around $78.40 per barrel. This upward trend can be attributed to the evolving perspective on energy demand. Recent macroeconomic data has raised some concerns about future demand, which has somewhat offset the factors that were previously bolstering prices, such