In recent trading sessions, NZD/USD has surged beyond key resistance levels, hitting highs above 0.6120. This surge has been accompanied by a major bullish trend line forming with support at 0.6120 on the 4-hour chart. At the same time, Gold has entered a consolidation phase and could potentially climb above $2,525. Meanwhile, EUR/USD and GBP/USD
The U.S. dollar has been struggling to maintain its strength against a basket of peers, hovering near its lowest point in more than a year. With sterling reaching multi-year highs, the focus is on the potential size of the anticipated U.S. interest rate cut next month. This uncertainty is reflected in the market’s movements, particularly
Xpeng, a Chinese electric car company, recently launched its new mass-market brand, Mona, with prices starting as low as $16,812. This price point significantly undercuts Tesla’s Model 3, making Mona an attractive option for budget-conscious consumers. The company reported that orders for the Mona M03 electric coupe exceeded 10,000 just 52 minutes after the car’s
The current economic outlook, as detailed in various expert opinions, presents a mixed bag when it comes to the labor market. While the rise in unemployment in Australia is not solely attributed to job losses, it still raises concerns about the overall health of the labor market. AMP Head of Investment Strategy and Chief Economist,
As individuals navigate the world of finance, it is crucial to understand the disclaimers and warnings provided by websites offering information on investments and trading. The content presented on such platforms, including news, analysis, and opinions, is designed for educational and research purposes. It is not intended as personalized advice, and users should exercise caution
The collaboration between Xpeng, a Chinese startup, and Volkswagen, the German auto giant, has been making waves in the electric car industry. The two companies are working together to develop electric vehicles specifically for the Chinese market. With Volkswagen’s $700 million investment in Xpeng, the partnership aims to launch two electric cars in China by
Deutsche Bank economists have stated that a rate cut in September is highly likely, with the specific magnitude remaining up in the air. They predict that the size of the rate cut will be heavily influenced by labor market data. The current stance is that there will be a 25 basis points rate cut at
The GBPUSD pair recently broke above the previous peak on 7.14.2023 high at 1.3143, indicating a higher high bullish sequence from the 9.26.2022 low. This breakout confirms the upward trend of the pair, leaving no doubt about its direction. The rally from the 4.22.2024 low is currently unfolding as a 5-wave impulse Elliott Wave structure.
In Tuesday’s early Asian session, the Indian Rupee weakened due to month-end USD demand and higher crude oil prices. Traders are awaiting the US August CB’s Consumer Confidence report and key events later in the week. Analysts predict that the Rupee may trade with a slight positive bias based on global risk sentiments and dovish
The recent comments made by Judo Bank Chief Economic Advisor Warren Hogan regarding the weak new property sales in China and the corresponding decrease in steel demand and production highlight a concerning trend in the global economy. This indicates potential challenges for economic growth and development, especially in key sectors such as real estate and
The Dow Jones Industrial Average reached a new peak recently, a positive sign for the market. However, this achievement was overshadowed by the tech industry giants taking a break, causing U.S. stock indexes to close with mixed results. The S&P 500 slipped slightly, while the Nasdaq experienced a more significant drop. This shift in momentum
The recent movements in the Japanese yen have been notable, with the USD/JPY pair dropping to 143.99 on Monday, signaling a three-week low. This shift is primarily attributed to the weakening of the US dollar and significant statements from both the Bank of Japan (BOJ) and the US Federal Reserve. Governor Kazuo Ueda’s hawkish comments