The British Pound (GBP) has shown strength against the US Dollar (USD) as it formed a base above the 1.2600 zone. The pair, GBP/USD, has climbed higher and is now eyeing more gains above the 1.2750 level. To understand the potential upside, let’s analyze the technical indicators. On the 4-hour chart, GBP/USD has settled above
China’s industrial profits in November saw a significant increase of 29.5%, demonstrating a double-digit growth as overall manufacturing improved. This rise follows a 2.7% increase in October and a pickup in industrial output. The manufacturing sector’s positive performance contributed to the overall improvement, providing an optimistic outlook for the country’s economic recovery post-COVID. Despite the
Excitement over artificial intelligence (AI) has not translated into a significant increase in cloud services spending in mainland China, according to a report by tech market analysis firm Canalys. Despite the potential for growth in the cloud services market, China remains conservative, relying heavily on government and state-owned enterprises to drive expansion. In the third
The Australian Dollar (AUD) has reached a fresh five-month high against the US Dollar (USD), as risk appetite improves in the market. The AUD/USD pair is currently trading below the recent high of 0.6829, which it hasn’t touched in almost five months. This surge in the Australian Dollar is primarily driven by an optimistic outlook
In the realm of financial markets, the future trajectory of interest rates holds immense significance. This article delves into the ongoing debate surrounding the timing and depth of potential interest rate cuts by the Federal Reserve. Moreover, it explores the implications of these speculations on the price of gold, given its historical safe-haven appeal. As
The AUD/USD gained 0.48% on Tuesday, ending the session at $0.68241. This positive performance comes after the Australian dollar fell to a low of $0.67913 earlier in the day before rising to a high of $0.68270. The rise in the AUD/USD suggests that investor sentiment towards the Australian dollar has improved. On Wednesday, industrial profit
North Korean leader Kim Jong Un has commenced the highly-anticipated Plenary Meeting of the 8th Central Committee of the Workers’ Party of Korea, according to state media KCNA. This meeting, which marks the end of a significant year for the country, aims to announce policy decisions for the upcoming year. The gathering of party and
Asian stocks are experiencing a broad rise as they track the rally from Wall Street. Investors are eagerly seizing the year-end optimism driven by expectations that the Federal Reserve will likely start cutting rates in March 2024. With few critical economic data releases scheduled between now and the end of the month, market sentiment continues
The Bank of Japan (BoJ) is grappling with the challenge of achieving its inflation target amidst economic uncertainties. In a recent speech, BoJ Governor Kazuo Ueda acknowledged the gradual progress being made towards the target but emphasized the need for sustained improvement. This article delves into the obstacles faced by the central bank and examines
The holiday shopping period is a critical time for retailers, as consumers eagerly search for the best deals and bargains to make their purchases. In the United States, retail sales between November 1 and December 24 rose by 3.1%, according to a recent report by Mastercard. However, this growth rate fell short of both Mastercard’s
The U.S. Dollar Index (DXY) is currently under pressure as traders remain focused on the Federal Reserve’s policy outlook. If the index settles below the key level of 101.50, it is likely to head towards the support zone between 100.50 and 100.80. The uncertain Fed policy has contributed to the weakening of the U.S. dollar,
The recent data on the housing market reveals a continued recovery, as annual home prices in October experienced a rise. This growth is a positive indicator for the overall health of the housing market. The Federal Housing Finance Agency (FHFA) report showed that home prices grew by 6.3% on a yearly basis, surpassing the previous