The AUD/USD pair is currently attempting to recover from the 0.6590 support level against the US Dollar. After finding support near this level, there was a break above a key bearish trend line with resistance at 0.6630 on the hourly chart of AUD/USD at FXOpen. The pair dipped from the 0.6700 resistance zone, declining below
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The latest report on U.S. factory production in May showed a surprising increase, rebounding from declines in the previous two months. The Federal Reserve reported a 0.9% jump in manufacturing output, surpassing economists’ expectations. However, despite this positive development, the outlook for sustained momentum in the sector remains uncertain. Higher interest rates and softening demand
When it comes to financial decisions, it is crucial to conduct thorough due diligence checks. The information provided on websites, including general news and publications, personal analysis, and opinions, may not necessarily be accurate or real-time. Therefore, relying solely on this information without doing your own research can lead to significant risks. Cryptocurrencies and contracts
The Nasdaq 100 (US Tech 100 mini on FXOpen) has recently faced some uncertainty in its price behaviour near the resistance level of 18,840. A decline in price was seen followed by a test of the former resistance at 18,250. This test showed aggressive demand, as indicated by the long lower shadow on the candle.
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The price of gold experienced a setback at the beginning of the week, dropping below $2320 as geopolitical tensions took a backseat. The recent volatility in the market was influenced by conflicting data regarding interest rates and market participants’ preference for US Treasuries. The US dollar index (DXY) faced resistance at 105.63, leading to a
Costco Wholesale Corp. (COST) has been under the lens of Elliott Wave analysts, particularly in terms of its impulsive trend and motive structure. The analysis indicates that COST is currently in wave 5, specifically within wave {iii} of 5, suggesting an upward trajectory. Following the completion of the triangle in wave 4, wave {ii} of
Gold prices have recently hit their lowest level in a month after experiencing a pullback from their all-time high. The price of gold broke below the 50-day simple moving average (SMA), signaling a downward trend in the market. However, in the midst of this decline, there have been signs of recovery as the price has
Starboard Value, the activist fund led by Jeff Smith, recently acquired a significant stake in graphics-design firm Autodesk. The fund has raised serious concerns over the company’s disclosures regarding an internal investigation that resulted in the removal of its CFO. It has been revealed that executives at Autodesk misled investors regarding the company’s free cash
The Bank of England is scheduled to hold a meeting on Thursday at 11:00 am GMT, amidst the backdrop of a General Election in the country. This event has added an element of complexity to trading decisions, as the central bank is expected to maintain a cautious stance ahead of the election to avoid creating
China’s Premier Li Keqiang began his four-day trip to Australia with a low-key start by visiting a South Australian winery and the Adelaide Zoo. His visit is the first by a Chinese premier in seven years, demonstrating the importance of the relationship between the two countries. During his visit to the Adelaide Zoo, Premier Li
Economists are forecasting changes in the Judo Bank Services PMI and Manufacturing PMI for the upcoming months. The Services PMI is expected to increase, while the Manufacturing PMI is predicted to fall. These numbers play a crucial role in impacting buyer demand for the Aussie dollar. The services sector in Australia holds significant weight in