The US Dollar Index (DXY) faced a setback after a strong rebound on Wednesday, as markets reacted negatively to the latest US economic indicators. The increase in Weekly Jobless Claims exceeded expectations, signaling a potential softening in the labor market. This, combined with the revised GDP figures showing a growth rate of 1.3%, raised concerns
Forex News
Upon analyzing the daily chart of the VanEck Semiconductor ETF (SMH), it is evident that the function is trending with an impulsive mode and motive structure. The position of Minor wave 5 indicates an upside movement in the near future. This analysis highlights the potential for a wave {iv} of 5 to initiate a sideways
The GBP/USD pair is currently trading at 1.2695, showing a weaker performance due to the strength of the US Dollar. The rise in US yields and reduced expectations of a Fed rate cut in September have contributed to the stronger dollar. This has caused a downward pressure on the pair, with traders adjusting their bets
The silver price continues to climb, reaching $32.25 in the European session with a 0.50% increase. This upward trend is largely attributed to the rising industrial demand for silver, particularly in sectors such as photovoltaics. The Silver Institute projects a 9% increase in industrial demand for silver, indicating a positive outlook for the white metal.
China’s Shanghai city recently announced a series of support measures aimed at boosting its struggling property sector. These measures include a reduction in down payment requirements, lower minimum mortgage rates, easing restrictions on home purchases, and reducing the required years of social security or income tax payments for non-Shanghai residents. As a result of this
The Nasdaq100 index has been a prominent driver of growth in US indices, with a significant increase in value in May. Approaching the 19,000 level, the index has added over 11% since hitting lows on April 19th. However, recent selloffs have brought the index down by 2% from peak to bottom, raising concerns about a
The Finance Minister of New Zealand recently announced that the government’s deficit is expected to increase next year, leading to concerns about the country’s economic outlook. This news comes amidst a backdrop of uncertainty and volatility in global markets, affecting the value of the New Zealand Dollar (NZD). The NZD, also known as the Kiwi,
The USD/CAD pair has drifted lower to 1.3640 in Wednesday’s early European session. This movement comes in response to the annual Canadian CPI inflation rate slowing to 2.7% in April from 2.9% prior. This decrease has increased the likelihood of a rate cut by the Bank of Canada (BoC) in June. Despite this data, the
The recent release of the Reserve Bank of Australia (RBA) meeting minutes highlighted the board’s consideration of raising interest rates but ultimately deciding in favor of maintaining a steady policy. The board acknowledged the difficulty of predicting future changes in the cash rate, indicating a cautious approach to monetary policy adjustments. Additionally, the board expressed
When it comes to investing, it is important to understand the risks and uncertainties associated with forward-looking statements. These statements can involve a level of unpredictability that may impact the outcome of investment decisions. It is crucial to approach these statements with caution and conduct thorough research before making any investment choices. The markets and
European Central Bank (ECB) Board member Isabel Schnabel recently expressed the possibility of a rate cut in June, citing the need to carefully analyze incoming data. While a rate cut in June may seem appropriate based on current data, Schnabel emphasizes the uncertainty surrounding the path beyond June. She cautions against prematurely easing monetary policy,
The US Dollar (USD) experienced a significant correction following the release of the latest Consumer Price Index (CPI) data. The CPI report indicated a continuation of the disinflationary trend in April, leading to a depreciation of the USD. This trend is part of a larger picture showing easing on various economic fronts, with the softer
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