The US Dollar Index (DXY) has been experiencing a downward trend in recent days, reaching April lows. This decline can be attributed to the release of soft US Consumer Price Index (CPI) figures and weaker University of Michigan (UoM) sentiment data. Market participants have been interpreting this data as a signal of a potential rate
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In recent months, the United States has experienced a decrease in annual headline inflation rates, marking a significant shift in economic trends. The most notable factor contributing to this decline has been the reduction in energy costs, which has had a ripple effect on other sectors such as shelter, vehicles, and transportation. Despite this overall
The GBP/USD pair is currently showing signs of strength as it trades above the 1.2900 resistance level. A key bullish trend line is forming with support near 1.2910 on the hourly chart. The pair has successfully climbed above the 50-hour simple moving average and the 1.2900 mark. Despite a minor decline, the bulls have managed
China’s imports experienced a decline of 2.3% in June, falling short of expectations of slight growth. On the other hand, exports saw a rise of 8.6%, surpassing the forecasted 8% growth. These figures have resulted in year-to-date imports increasing by 2% and exports by 3.6% in the first six months when compared to the same
The AUDUSD pair has recently broken decisively above a sideways pattern that had kept it range-bound for more than two months. This breakout has propelled the price to its highest level since January 2024, indicating a significant shift in market sentiment. Despite the bullish momentum, oscillators are flagging overbought conditions, suggesting that the recent rally
In the week ending July 5, foreign investors poured a significant amount of money into Japanese stocks, totaling a net purchase of 916.05 billion yen, marking their most substantial weekly investment since January 12. This surge in investments was primarily fueled by a market rally and optimism surrounding the solid corporate earnings expected in the
China’s advancements in the field of autonomous driving have been making headlines lately, especially with the increasing popularity of robotaxis among consumers. However, this technological advancement is causing concern among traditional taxi drivers who fear losing their jobs due to the rise in competition. The trend of robotaxis in China is gaining momentum, with local
Taking a closer look at the past performance of VanEck Gold Miners ETF ($GDX), it is evident that the rally from the 2.28.2024 low at $25.64 unfolded in a 5-wave impulse. This indicated that a pullback was expected to occur in 3 swings, followed by a resurgence of buyers. Current Elliott Wave Count A more
Silver prices have been on the rise, driven by a supply and demand gap that has persisted for the fifth year in a row. With demand continuing to outstrip supply, the market deficit is expected to almost double by the end of 2024. Historically, the demand for silver was evenly split between industrial use and
In a recent article by the Financial Times, it was reported that Prabowo Subianto, the President-elect of Indonesia, plans to allow the nation’s debt-to-GDP ratio to rise to 50%. This decision is based on the condition that his administration can increase tax revenues. While this may seem like a bold move to boost economic growth
The world of finance is buzzing with excitement as Wall Street gears up for the arrival of a new set of cryptocurrency exchange-traded funds (ETFs) focused on Ethereum. These spot ether ETFs are poised to make their debut on the market pending approval from the U.S. Securities and Exchange Commission. Bitwise Asset Management’s Chief Investment
The dollar weakened on Wednesday following comments from Federal Reserve Chair Jerome Powell suggesting that the central bank is inclined towards cutting interest rates. Powell emphasized the need for further decreases in inflation before implementing any rate changes. This comes as economists anticipate that the Consumer Price Index (CPI) data, set to be released on
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