The analysts at UOB have pointed out that the New Zealand Dollar (NZD) could potentially test the 0.6115 level, with a condition that it remains below 0.6185. The possibility of a significant break below this level is not expected at this time. In the longer term, if NZD does drop below 0.6115, it could potentially
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Warren Buffett’s Berkshire Hathaway has been steadily offloading Bank of America shares, with the total sales surpassing $7 billion since mid-July. The conglomerate reduced its stake to 11% after shedding 5.8 million BofA shares in separate sales. This latest action marks the 12th consecutive selling streak by Berkshire, matching the previous streak from July 17
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The recent debate between Republican Donald Trump and Democratic Vice President Kamala Harris has left Wall Street investors on edge. Despite the high stakes and tension during the debate, little clarity was provided on key policy issues that could potentially impact the markets. In fact, some observers noted that both candidates failed to make strong
Gold prices have been consolidating below the $2,530 resistance level against the US Dollar. Despite staying above $2,480, the price has struggled to make significant gains. The 4-hour chart of XAU/USD shows that the price has remained stable above both the 100 Simple Moving Average (red, 4 hours) and the 200 Simple Moving Average (green,
Gold prices experienced a modest increase of 0.30% on Tuesday, driven by a combination of factors. The decline in US Treasury yields and the weakening of the US dollar played a significant role in this uptick. Traders are now eagerly anticipating the release of crucial US inflation data, which is expected to have a major
China’s policymakers recently discussed an official plan to delay the country’s retirement age, which is among the lowest in the world. The proposal, aimed at addressing the shrinking working population, was assessed at the 11th meeting of China’s Standing Committee in Beijing. The retirement age in China is currently 60 for men, significantly lower than
As Shane Oliver pointed out in his remarks on the US Jobs Report, the upcoming US CPI Report will play a crucial role in shaping near-term trends for the AUD/USD pair. A weaker-than-expected CPI figure could potentially overshadow softer Australian consumer inflation expectations, leading to a potential move towards the $0.67 mark for the currency
The EUR/JPY pair has experienced a sustained decline for the past two days, reaching a low not seen in over a month. This downward movement can be attributed to a combination of factors such as a softer risk tone in the market, speculation of a rate hike by the Bank of Japan (BoJ), and dovish
The recent release of UK labour market data has shown that employment growth exceeded expectations, which is a positive sign for the economy. This news has led to a bullish impulse for the pound, with GBP/USD rising initially. However, the pair retraced shortly after, indicating that bulls are struggling to take advantage of the strong
The U.K. is facing criticism for its lackluster performance in commercializing technology businesses on a global scale. Warren East, former CEO of British chip design firm Arm, highlighted the need for a mindset shift within the investor community to ensure that U.K. companies can compete effectively on the world stage. East noted that the U.K.
Shigeru Ishiba, a former Japanese defense minister, emphasized the importance of fully exiting deflation as a crucial task for the country’s economic growth. Despite some positive signs, Ishiba expressed concerns about the lack of significant recovery in private consumption. His policy pledges for the Liberal Democratic Party’s leadership race focus on achieving sustainable growth in