AUDCAD is continuing to climb higher above the 0.9100 mark, showcasing positive momentum in both the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD). This upward trend has been in place since February 8, culminating in a 14-month high of 0.9125. Despite facing some resistance in the 0.9100 area over the past few
Gold prices have surged to new heights, reaching a peak of 2,450 and holding above the previous high of 2,431.48. This upward movement is accompanied by positive signals from technical indicators, indicating the possibility of further gains in the market. The MACD is showing strong positive momentum above its trigger and zero lines, while the
Sri Lanka is set to introduce a new Economic Transformation Law that aims to attract investors and boost productivity in the country. This law comes at a crucial time for Sri Lanka, which faced a severe financial crisis in 2022. The Economic Transformation Bill, along with the Public Finance Management bill, will be presented to
In the first three months of 2024, global venture capital investment in crypto companies reached $2.4 billion, according to data from PitchBook. This marks a significant increase from the previous quarter, where only $1.7 billion was invested. The peak of crypto venture capital flows was recorded in the first quarter of 2022, with a staggering
The Euro has shown signs of improvement against the US Dollar as it started a decent increase from the 1.0620 support level. Breaking through key resistance levels at 1.0750 and 1.0800, the pair has entered a positive zone. On the 4-hour chart, EUR/USD has managed to settle above both the 200 simple moving average and
Japan is facing a dilemma as weak consumption is putting pressure on the central bank to raise interest rates despite concerns about the impact on the economy. The yen’s decline is blamed for hurting households through higher import costs, and this has led to calls for the Bank of Japan to take action. Bank of
When delving into the world of investing in open markets, it is crucial to understand the risks and uncertainties involved. While the allure of potential profits may be enticing, it is important to remember that the markets are volatile and unpredictable. The information provided on platforms like FXStreet should be viewed as informational rather than
Recent statements from FOMC members such as Raphael Bostic, Loretta Mester, and Michelle Bowman have hinted at a cautious approach towards interest rate hikes. Emphasizing the need for a sustained higher Fed rate to reach the 2% inflation target, coupled with warnings about a potential rate hike in case of rising consumer prices, has fueled
The Federal Reserve is set to release the minutes of its recent meeting, shedding light on the discussions that took place around interest rates. Fed Chair Jerome Powell hinted at a potential longer period of higher rates due to inflation pressures. Additionally, several Fed officials are scheduled to speak throughout the week, providing further insight
Elon Musk’s arrival on the Indonesian island of Bali marks the beginning of a potentially transformative project for the country. The planned launch of SpaceX’s Starlink internet service has the Indonesian government hopeful for increased internet penetration and improved health services in remote areas of the archipelago. Chief investment minister Luhut Binsar Pandjaitan’s meeting with
The U.S. Securities and Exchange Commission is currently grappling with the decision to approve ether exchange-traded funds, with a verdict expected next week. Ric Edelman, head of the Digital Assets Council of Financial Professionals, believes that the lack of a comprehensive regulatory framework for all cryptocurrencies will likely lead to a delay in approval. Edelman
In the recent news, Nippon Steel from Japan is facing challenges in its planned acquisition of U.S. Steel. The vice chairman, Takahiro Mori, has been tasked with the responsibility of meeting stakeholders in the United States to ensure the successful completion of the deal. However, there are several obstacles that Nippon Steel is encountering in