In recent trading sessions, the NZD/USD pair has experienced a significant rally, breaking through key resistance levels at 0.6050 and 0.6120. This bullish momentum has been supported by a major trend line forming with a key level of support at 0.6120, as indicated on the 4-hour chart. The pair has also managed to surpass important
The recent data on the Australian labor market shows that the unemployment rate is currently at its highest since November 2021. The rise in unemployment is attributed to an increase in the labor supply, which may not be as concerning as a rise in unemployment due to job losses. According to AMP’s Head of Investment
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Volkswagen’s $700 million investment in Xpeng to jointly develop two electric cars for the Chinese market in 2026 is a strategic move for both companies. By spending time at Xpeng’s offices, Volkswagen staff are gaining valuable insights into the startup’s technology, particularly its driver-assist technology. This collaboration is crucial for Volkswagen’s presence in China, where
Deutsche Bank economists recently stated that a rate cut by the Federal Reserve in September is highly likely, although the exact size of the reduction is still uncertain and dependent on data. They believe that the upcoming rate cut will be primarily influenced by labor market data. The bank’s current forecast is for a 25
GBPUSD has recently broken above the previous peak on 7.14.2023 high at 1.3143, indicating a higher high bullish sequence from the 9.26.2022 low. This breakout clearly identifies the right side and direction of the pair, which is higher. The rally from the 4.22.2024 low is currently ongoing, forming a 5 waves impulse Elliott Wave structure.
As the Indian Rupee weakens in Tuesday’s early Asian session, several global economic events are contributing to this trend. Month-end USD demand and higher crude oil prices are two significant factors that weigh on the INR. Traders are also keeping a close eye on the US August CB’s Consumer Confidence report ahead of key events
In recent reports, it has been noted that China’s new property sales are remaining weak, indicating a potential downturn in the economy. This is further exacerbated by the decline in steel demand and production. These two factors are critical indicators of economic health, as the property market and steel industry are significant drivers of growth
The Dow Jones Industrial Average reached an all-time high, while tech giants like Nvidia, Microsoft, Amazon, Meta Platforms, and Tesla took a step back from their recent rallies, causing the S&P 500 to slip 0.3% and the Nasdaq to stumble by 0.9%. This shift in the market dynamics actually signals a broader rotation, with small-cap
Recent statements from both the Bank of Japan (BOJ) and the US Federal Reserve have played a significant role in the recent strengthening of the Japanese yen. Governor Kazuo Ueda of the BOJ hinted at a potential adjustment of monetary policy in line with economic trends, raising speculation of a future interest rate hike. This
The recent dovish shift in the monetary policy of the U.S. Federal Reserve is expected to have significant implications for the Bank of Japan’s efforts to manage a weak yen. This shift, as articulated by Fed Chair Jerome Powell at the annual symposium in Jackson Hole, Wyoming, signals a readiness to cut rates in response
The incident involving the faulty Starliner capsule from Boeing that led to two NASA astronauts being stranded on the International Space Station is nothing short of a major setback for both companies. After a series of glitches with Starliner’s propulsion system, NASA deemed it too risky for the astronauts to return home on the capsule