The recent movement in the price of gold, as depicted by the XAU/USD chart, has been quite volatile. While there was a significant rise above the $2390 level on Friday, indicating a bullish trend, the price subsequently fell to $2360 per ounce on Monday. This sudden decline suggests that the bulls were unable to maintain
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The EUR/USD pair has been steadily climbing for the past six days, reaching around 1.0830 during the Asian session on Tuesday. This upward trend comes as a surprise to many, especially after France’s election results. A leftist alliance unexpectedly took the lead, preventing Marine Le Pen’s far-right party from dominating the leadership race. This unexpected
The U.S. dollar is facing pressure in the currency markets after a soft jobs report and political uncertainty in France. The euro managed to hold its ground, despite sharp swings following a hung parliament in France, which indicates potential political gridlock. This outcome removes concerns about far-right or leftist victories that could have impacted fiscal
President Joe Biden’s re-election chances are being called into question by Stifel, with a 40% chance that he will not seek re-election. Despite this assessment, there is still a 60% likelihood that he will run again for president. The chief Washington policy strategist at Stifel, Brian Gardner, believes that Biden is inclined to stay in
A rally in chip stocks recently lifted the Nasdaq and S&P 500 to record highs. Companies like Nvidia, Super Micro Computer, and Intel saw significant gains in their stock prices. Nvidia jumped 2.5%, while Super Micro Computer, a company that makes AI-optimized servers using Nvidia’s chips, rallied almost 9%. Intel also rallied almost 6%. This
The US Dollar experienced a decline of 0.80% last week, reaching its lowest level since mid-June. The upcoming release of the June inflation figures and Federal Reserve talks have created a sense of anticipation in the market. While there is a price in less than 10% probability of a rate cut in July, the odds
The leader of the hard-left France Unbowed Party, Jean-Luc Melenchon, is portrayed as a fiery orator with a divisive reputation in French politics. Known for his unorthodox proposals and class war rhetoric, Melenchon has faced accusations of antisemitism. Despite his political experience and previous presidential runs, he has not been able to secure a win,
The AUD/USD pair has been on an upward trajectory, reaching a six-month high of 0.6752. This surge in the currency’s strength is attributed to market expectations that the Reserve Bank of Australia (RBA) may diverge from the global trend of reducing interest rates. The anticipation of a potential rate hike in response to rising inflation
The upcoming June inflation report, scheduled for release on Thursday, July 11, is creating a buzz among investors and economists alike. Market expectations are leaning towards a 0.1% month-over-month increase and a 3.1% year-over-year change, with core CPI forecasted to go up by 0.2%. Bank of America is in agreement with these projections but is
The gold price has seen a decrease in momentum below the $2,400 barrier due to China’s Central Bank’s decision to stop buying gold for the second consecutive month in June. This pause in gold buying by the world’s largest bullion consumer has had a noticeable impact on the price of the precious metal. There is
The recent GDP data from Japan reveals a concerning trend – the economy has contracted for the third consecutive quarter, raising concerns of a possible fourth quarterly contraction. A key question that arises is whether the weakness of the Japanese Yen is impacting private consumption and the overall economy. The Bank of Japan’s Deputy Governor
The Asian market seems to be on a positive trajectory as investors start the week with a positive mood. The recent U.S. job figures have reinforced the “soft landing” narrative, resulting in a decrease in the dollar and bond yields. This has fueled the ongoing rally in stocks, with most major equity markets worldwide reaching
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