The New Zealand Dollar (NZD) is currently expected to continue range trading in the near future, with analysts predicting a range between 0.5875 and 0.5920. Despite the possibility of further NZD weakness, analysts point out that severely oversold conditions suggest limited downside potential for the currency. One key level to monitor is 0.5850, according to
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The USD/JPY pair kicked off the new week on a positive note, with fresh buyers showing interest during the Asian session on Monday. This led the pair to jump to the 154.35 region as traders engaged in repositioning trades ahead of key central bank events scheduled for later in the week. A positive risk tone
The financial markets saw mixed action on Thursday, leading investors to adopt a cautious stance on Friday. The upcoming US economic reports will include the Personal Consumption Expenditures (PCE) Price Index data for June. This data is crucial as it is the Federal Reserve’s preferred gauge of inflation. Additionally, reports on Personal Income and Personal
The gold price has been struggling as it continues to lose ground for the second consecutive day, reaching a two-week low. This decline can be attributed to technical selling, which has put pressure on the precious metal. However, the extent of the downward movement is expected to be limited. Additionally, the upcoming September Fed rate
The Bank of Canada (BoC) is on the brink of making a significant decision regarding interest rates. Analysts predict that the BoC might follow in the footsteps of the Swiss National Bank (SNB) and implement a second rate cut during this cycle. Market indicators, such as seasonally adjusted monthly rate changes and the current state
The NZD/USD pair is currently trading around 0.5945 in the early Asian session on Wednesday, recording a 0.25% decline. This drop is primarily attributed to the mounting expectations of rate cuts by the Reserve Bank of New Zealand (RBNZ) and subdued economic activity in China. The Kiwi is under pressure as investors anticipate a potential
The Small and Medium-sized Enterprises Index (SMEI) experienced a significant rebound in July, reaching 50.4, according to economists Hunter Chan and Shuang Ding from Standard Chartered. This uptick came as a result of improvements in expectations and credit conditions within the market. After a minor setback in June when it dipped to 49.9, SMEI returned
Upon analyzing the Australian Stock Exchange (ASX) with a focus on COCHLEAR LIMITED – COH, it is evident that wave ((4)) – navy has been identified as a Triangle, indicating a potential upward movement in wave ((5)) – navy. The 1D Chart (Semilog Scale) analysis further supports this observation, highlighting the Major trend (Primary degree,
When it comes to making investment decisions, it is crucial to understand the risks and uncertainties involved. The information provided on various platforms, including FXStreet, should be seen as a guide rather than a direct recommendation to buy or sell assets. It is essential for individuals to conduct their own thorough research before making any
After analyzing the recent movement of the New Zealand Dollar (NZD), it is evident that there is still potential for the currency to drop below 0.6000. UOB Group FX strategists Quek Ser Leang and Peter Chia have noted that the NZD has shown signs of weakness and could continue to decline in the near future.
EUR/USD has seen a slight uptick to 1.0895 in the early Asian trading session on Monday, marking a 0.12% increase for the day. This movement can be attributed to various factors, including statements from key central bank officials and upcoming economic indicators. The Federal Reserve’s stance on a potential rate cut, as highlighted by Fed’s