After reaching a high near the 0.6735 zone, AUD/USD has started to correct gains against the US Dollar. The pair is currently facing a downside correction, showing signs of weakening momentum. This correction is evident on the hourly chart of AUD/USD at FXOpen, where a key bullish trend line is forming with support at 0.6700.
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The European stock markets experienced a surge in optimism on Thursday, driven by the expectation of U.S. interest rate cuts due to soft economic data. This positive sentiment was reflected in the rise of the pan-European STOXX 600 index by 0.6% to reach a one-week high. Investors were particularly keen on the London markets as
The Bank of Israel is facing a challenging decision regarding its short-term interest rates in the wake of the war in Gaza, sticky inflation, and a widening risk premium. The current situation calls for careful consideration of various factors that could impact the country’s economic performance in the coming months. The decision to hold the
China is currently in discussions with the European Union to avoid additional tariffs on Chinese electric cars. The European Commission has set a deadline for imposing tariffs if an agreement is not reached by July 4th. Both parties are encouraged to work towards a compromise to prevent these tariffs from taking effect. The Chinese Ministry
The Australian Trade Balance has been facing a deteriorating trend due to various economic factors. China’s lackluster demand, the collapse of the real estate market, and the slump in iron ore prices in the first half of 2024 have all contributed to this downward trend. Additionally, trade tensions between Australia and China, as well as
The market for initial public offerings (IPOs) in Hong Kong is expected to see significant improvement over the next five years, with the turnaround beginning in the second half of this year. George Chan, global IPO leader at EY, expressed optimism about the future of the Hong Kong IPO market, citing positive trends and a
The Federal Reserve officials, in their recent meeting on June 11-12, acknowledged that the U.S. economy was showing signs of slowing down. They also noted that “price pressures were diminishing,” indicating a possible decline in inflation. Despite these concerns, the officials decided to adopt a wait-and-see approach before making any commitments to interest rate cuts.
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The AUD/USD pair has recently reached 0.6676, showing signs of a sideways pattern. This lack of clear direction indicates a mixed sentiment in the market. The positive movement of the Australian dollar can be attributed to the weakening stance of the US dollar, primarily influenced by the recent comments made by Federal Reserve Chair Jerome
EUR/JPY is currently trading around 173.80 during the early European session, up by 0.20% for the day. The weakening of the Japanese Yen can be attributed to the recent data showing contractionary business activity in Japan during June. The final reading of Japan’s Services PMI fell to 49.4 in June from 49.8 in May, marking
Passion tourism, a concept that revolves around people’s passions and interests, is gaining popularity among Americans. This trend involves traveling overseas to attend events such as concerts, festivals, or sporting events that are of personal interest to individuals. According to travel experts, Americans are increasingly flocking to international destinations to see artists like Taylor Swift,
The UK 100 stock index (cash) has been struggling for the past six trading days, with a significant downturn towards the critical support level of 8,110. Despite attempts to break above the key resistance area of 8,300, the index has failed to establish a new higher high, leading to concerns about a potential negative reversal
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