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 US dollar remained near a six-week high against major currencies on Wednesday as market participants solidified their expectations that the Federal Reserve would not hastily cut interest rates due to the resilience of the US economy. Meanwhile, the Japanese yen saw a slight increase as investors anticipated a stimulus exit as early as March,
The NZD/USD pair has experienced limited gains recently, struggling to capitalize on its modest gains from the Asian session. Despite ticking higher following the release of domestic inflation figures, the pair remains within striking distance of a near two-month low. This article analyzes the factors influencing the NZD/USD pair and discusses its future outlook. Statistics
The EUR/USD has experienced a sharp decline, reaching its lowest levels in nearly six weeks. This downward trend can be attributed to various factors, including souring consumer sentiment, declining bank lending activity, and high interest rates. Additionally, market participants are eagerly awaiting important economic figures such as PMI data and the ECB rate call. In
As Cuba braces itself for a new wave of economic challenges, its citizens are feeling the weight of an austerity plan that threatens to further cripple the already struggling communist-run island. With soaring budget deficits and a sluggish economy, the measures implemented by the government are expected to touch nearly every aspect of the country’s
The world’s top hedge funds experienced an unprecedented surge in profitability in 2023, as stock markets roared back to life. According to research conducted by LCH Investments, the 20 leading funds accumulated a staggering $67 billion in investor profits, surpassing the $65 billion earned during the pandemic-era rally in 2021. This growth is even more
The recent interest rate decision, statement, and press conference by the Bank of Japan have left investors with little to no clue about the future direction of the yen. This lack of clarity has caused the yen to give up its gains against the US dollar. Unfortunately, it seems to be a recurring theme that
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
As the Federal Reserve faced scrutiny over the trading activities of former Dallas Fed President Robert Kaplan and former Boston Fed President Eric Rosengren in 2020, the aftermath led to retirements, public skepticism, and a review of ethics rules within the central bank. Although the investigation by the Federal Reserve’s inspector general concluded without charges,
A recent watchdog review conducted by the Federal Reserve’s Office of Inspector General has examined the market trading activities of two former high-ranking officials: Robert Kaplan of Dallas and Eric Rosengren of Boston. While the report does not accuse either of illegal behavior, it raises concerns about their actions and their potential impact on impartiality
The EUR/USD pair is facing uncertainty as traders brace themselves for a busy week filled with central bank announcements. The European Central Bank (ECB) is set to release its Bank Lending Survey and January’s preliminary Consumer Confidence report on Tuesday, followed by a fresh round of euro area Purchasing Manager Index (PMI) figures on Wednesday.
The U.S. Dollar Index (DXY) has demonstrated consistent performance in January, reaffirming its position as a dominant force among developed market currencies. Despite fluctuating market expectations and central bank decisions globally, the index has remained stable at a level of 103.214. This article examines the factors contributing to this stability and analyzes the potential trajectory