Gold is currently on a path towards recovery as it attempts to surpass the $2,400 resistance zone. After finding support near $2,352 against the US Dollar, the price has started a positive wave above $2,365. The recent movement on the 4-hour chart of XAU/USD shows that the price has crossed the $2,380 level along with
China’s manufacturing activity has continued to shrink for the third consecutive month in July, according to an official factory survey released on Wednesday. This ongoing trend has raised concerns about the need for Beijing to implement further stimulus measures to counteract the negative impact of a protracted property crisis and job insecurity on economic growth.
The Japanese government recently revised its growth forecasts for the fiscal year ending March 2025 from 1.3% to 0.9%. This downward revision indicates a concerning trend in the country’s economic outlook. The weakened growth forecast raises questions about the underlying factors contributing to this slowdown. One of the key concerns highlighted by the government is
British finance minister Rachel Reeves recently announced that she would need to raise taxes in the upcoming budget, citing a 22 billion pound shortfall. This move was expected after the Labour Party’s election win, highlighting the financial challenges facing the country. In a recent interview with The News Agents podcast, Reeves confirmed that tax increases
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In recent weeks, the Australian Dollar (AUD) has experienced a significant decline against the US Dollar (USD), with a decrease of nearly 3.5%. This downward trend has positioned the AUD as one of the weaker currencies among the G-10 group. Analysts point to several factors contributing to this decline, with two key factors standing out.
In a surprising move, Berkshire Hathaway has been on a selling streak, reducing its stake in Bank of America for nine consecutive days. This recent development has raised eyebrows as investors wonder about Warren Buffett’s strategy behind trimming this long-time holding. The conglomerate sold a significant 18.4 million shares of the bank over a four-day
Investors around the globe are closely eyeing the upcoming release of the Job Openings and Labor Turnover Survey (JOLTS) data in the US. This data, which is set to be published by the US Bureau of Labor Statistics (BLS) on Tuesday, is expected to shed light on the number of job openings in June. The
The Short Term Elliott Wave View in E-Mini Dow Jones Futures (YM) suggests that the trend is positioned to continue its upward trajectory within the sequence initiated from the April 2024 low. Specifically, the current scenario favors an upward movement in wave 5 of (5) since April 18, 2024 low, while emphasizing the importance of
When it comes to investing in open markets, it is crucial to understand the risks and uncertainties involved. The information provided on various platforms, including FXStreet, should be viewed as purely informational and not as a recommendation to buy or sell any assets. It is essential for investors to conduct their own thorough research before
The Australian Dollar (AUD) has been facing challenges in the forex market due to a combination of factors such as economic concerns over China, high inflation rates, and weak retail sales data. This article will analyze the impact of key economic data releases on the AUD and how they influence market expectations. The upcoming release
Oil prices have been trading near seven-week lows due to a softening demand outlook that has weighed on commodities. Despite tensions in the Middle East and Venezuela, traders have been focusing on worries over Chinese demand, leading to a decrease in oil prices. Brent crude futures hit $79.36, reflecting the cautious sentiment in the market.