The EUR/USD currency pair has shown promising signs of resilience, currently hovering around the 1.1088 mark as the week kicks off. This position comes on the heels of noteworthy gains observed at the end of the previous week, sparked by increasing speculation regarding the Federal Reserve’s impending decisions on interest rates. The market is reacting
Technical Analysis
In recent weeks, the precious metal gold has experienced a striking resurgence, culminating in a historic price of over $2572 per troy ounce in the spot market. This surge is not just a fleeting moment; it has been part of a broader upward trend that has seen prices rise nearly 3% in just a week
Gold has recently seen an impressive surge, breaking through the 2,570 USD per troy ounce threshold. This ascent reflects a myriad of factors including a beleaguered US dollar and a consistent decrease in yields on US government bonds. Such bolstering factors have set the stage for what could indeed be a record-breaking scenario for this
The financial world is poised for a critical shift today, September 12, 2024, as the European Central Bank (ECB) stands on the brink of a substantial interest rate cut. This anticipated decision, expected to lower the main refinancing rate by 60 basis points to 3.65%, underscores the pressing issues surrounding the eurozone’s economy. The context
The New Zealand Dollar (NZD) has shown signs that it could test the 0.6115 level, with UOB analysts suggesting that it may stay below 0.6185 in the near term. However, there is a lack of expectation for a significant break below this level at this point. If NZD does drop below 0.6115, there is a
Gold prices saw a 0.30% increase on Tuesday due to a combination of factors such as the drop in US Treasury yields and the weakening of the US dollar. Traders have their eyes on upcoming US inflation data and the first presidential debate between Kamala Harris and Donald Trump as potential catalysts that could impact
Gold prices are currently consolidating below the critical resistance level of $2,530 against the US Dollar. Despite staying above the $2,480 support zone, gold has struggled to initiate a fresh upward movement. The 4-hour chart of XAU/USD reveals a stable price action above the 100 Simple Moving Average (red, 4 hours) and the 200 Simple
The recent release of UK labor market data indicates that employment growth has surpassed expectations, showcasing a positive outlook for the economy. This news has led to a bullish impulse for the pound, with GBP/USD experiencing a notable increase shortly after the data was made public. However, it is essential to note that the initial
EUR/CHF has been closely correlated with the France CAC and Germany DAX, showing a strong positive relationship. This correlation has been maintained even in the face of economic challenges posed by sluggish consumer demand in China. The 60-period rolling correlation coefficients between EUR/CHF and the two European indices have remained high, indicating a synchronized movement
Gold prices have seen a resurgence in recent days, with a troy ounce of the precious metal currently priced at 2517 USD. This increase comes as the market eagerly anticipates the release of August’s US employment report, which could have a significant impact on the Federal Reserve’s interest rate policies. Given the recent signals of
The EUR/USD pair has maintained stability around 1.1077 as investors eagerly await crucial employment data from the United States. The upcoming ADP private sector jobs report, although not directly linked to the Nonfarm Payroll (NFP) report, serves as an indicator of market sentiment. Additionally, the release of weekly unemployment claims data will be closely monitored
The USD/JPY pair has experienced a slight increase, reaching 145.95 on a Wednesday morning. This uptick comes after hitting a two-week low, signaling a potential rebound. However, it is essential to note that this movement may not signify a complete reversal in the trend due to the uncertainty in the current economic landscape. Traders and