Recent developments in the U.S. inflation rate and labour market have created uncertainty in the currency market, leading to a bearish sentiment towards the dollar. This has caused key currency pairs, such as GBP/USD, to approach critical levels that could potentially trigger new medium-term trends. Technical analysis of GBP/USD indicates the possibility of a retest
Technical Analysis
Gold prices have been on a remarkable upward trajectory, with the precious metal hovering around $2500 per troy ounce. This surge can be largely attributed to the increased demand for safe-haven assets in light of ongoing geopolitical tensions. The focus remains on the conflict in the Middle East, especially with U.S. Secretary of State Antony
As per the recent analysis, the bearish scenario suggests selling positions below 2470 with intraday profit targets at 2463, 2460, and 2456. It is recommended to place a stop loss above 2473 or at least 1% of the account capital. Conversely, the bullish scenario recommends buying positions after a pullback above 2460 with profit targets
Crude oil prices have been struggling to break through the $80.00 resistance zone, making it a challenging task for bulls to maintain control. The 4-hour chart of XTI/USD shows a recent spike above $80.00 but was quickly met with selling pressure, signaling a potential reversal in the short term. The price is currently testing the
Gold prices have recently rebounded after a post-CPI selloff that initially pushed the precious metal down to around $2438/oz. This movement was somewhat unexpected, especially considering that US CPI figures were below expectations. The market reaction to the data led to a reduction in rate cut expectations, which may have contributed to the dip in
The recent performance of the Nasdaq 100 has left investors on edge, with the benchmark US stock index recording a monthly loss of -1.6% in July. This marked it as the worst-performing among its peers like the S&P 500, Dow Jones Industrial Average, and Russell 2000. The global risk-off behavior that unfolded over the past
The AUD/USD and NZD/USD technical analysis provided in the article offer insights into the current trends and potential future movements of these currency pairs. However, upon closer examination, it is evident that the analysis is heavily focused on technical indicators and fails to consider broader market dynamics that could impact the price action of the
The gold price has experienced a significant surge in recent trading sessions, with the price per ounce nearing $2,460 today. This marks a notable increase from the $2,385 level observed on the 8th of August. The bullish momentum driving this upswing can largely be attributed to escalating geopolitical tensions in various regions around the world.
The recent consolidation phase in Brent crude oil prices, dropping slightly to 81.80 USD per barrel, can be attributed to renewed concerns over global oil demand. OPEC’s downward adjustment of demand forecasts for 2024 and 2025 has played a significant role in shaping market sentiment. With weaker-than-expected economic data from China and reduced regional demand
The New Zealand dollar has been steadily gaining ground against the US dollar, with the NZD/USD pair reaching 0.6014 as of the latest report. This uptrend is largely attributed to the upcoming Reserve Bank of New Zealand (RBNZ) meeting, where analysts widely expect the official cash rate to be maintained at 5.5%. This decision reflects
Gold prices are on the rise once again, as the precious metal continues to show strength in early trading on Monday. This upward momentum marks the third consecutive day of recovery for gold, following a significant drop last week. The optimistic outlook for gold comes as the Federal Reserve considers a 50 basis points rate
China’s recent consumer inflation data has been lacklustre, indicating that the current stimulus measures might not be enough to combat deflationary pressures. The Hang Seng Index has also been affected by weak Chinese data and global economic factors. This article will provide a detailed analysis of the situation and its implications. The latest consumer inflation