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
Technical Analysis
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
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 relationship between China’s consumer demand and the performance of key European benchmark stock indices, as well as the EUR/CHF, has been a topic of interest in the global financial markets. Recent data on China’s core inflation and producer prices for August have raised concerns about lackluster internal demand in the country, which could have
The gold market has shown signs of growth recently, with the price of a troy ounce reaching 2517 USD. This increase in price comes ahead of the release of the US employment report for August, which could have a significant impact on the market. With the Federal Reserve closely monitoring the employment data, there is
The EUR/USD pair has maintained stability around 1.1077 as of Thursday morning, showing a slight increase in value during the previous session. However, it is still trading within a sideways channel. The investors seem to be holding back and conserving their energy in anticipation of crucial employment data from the United States. The ADP private
The USD/JPY pair has experienced a minor increase, reaching 145.95 on Wednesday morning. This upward movement seems to signify a rebound from recent two-week lows, but it may be premature to anticipate a significant shift in the trend considering the uncertain economic conditions. As market participants remain cautious, all eyes are on the upcoming US
Gold has experienced a remarkable winning streak, with a 21% increase in value over the course of seven consecutive months. This surge has left many investors wondering whether this momentum will carry over into September. The future of gold prices hinges on a variety of factors, including upcoming U.S. economic data and interest rate expectations.
Upon analyzing the long-term BTC/USD chart, it is evident that Bitcoin’s price is facing a crucial juncture. The chart reveals two distinct channels that Bitcoin has been oscillating within. These channels include a bullish channel that originated in 2023 amidst Bitcoin ETF approval rumors and a bearish channel that emerged in March 2024 after the
Gold has been attempting to break through the glass ceiling at $2525 an ounce on the spot market for the past two weeks. The consistent battle between pullbacks and rallies near this resistance level indicates strong buying pressure. If this trend continues, we can anticipate a breakout to historical highs in the near future. A
Gold has maintained a firm tone and is currently near its all-time high, as it eagerly awaits the release of US PCE data. This data, due later today, is expected to provide fresh signals for the precious metal. The strong demand for gold, as a safe haven asset and due to large purchases by central