The oil market has seen a decline in trading activity, with Brent crude futures hitting a seven-week low of $79.36 due to a softening demand outlook. Traders are now more concerned about Chinese demand rather than geopolitical tensions in the Middle East and Venezuela. This has led to a sell-off in the oil market, contributing
Development
The Australian dollar (AUD) has been experiencing a decline against the US dollar (USD) due to economic concerns over China and issues within the local economy. Despite future expectations of a rate hike by the Reserve Bank of Australia (RBA), the AUD/USD pair fell to 0.6545 on Monday. The RBA has been delaying rate cuts
The recent movement in the stock market has been quite volatile, with the S&P 500 index closing 1.11% higher on Friday. Although it closed below the daily high, indicating consolidation rather than a change in the short-term trend, there is hope for a reversal in the downtrend. This morning, the S&P 500 is likely to
The New Zealand Dollar (NZD) has been experiencing weakness, with analysts predicting a potential range of 0.5875/0.5920. The FX analysts at UOB Group, Quek Ser Leang and Peter Chia, have noted that the NZD is in severely oversold conditions, indicating limited downside potential. The key level to watch is 0.5850, according to their analysis. Following
The Australian dollar has started to climb towards 0.6552 on Monday after hitting a 12-week low. Investors are eagerly anticipating the release of Australian inflation data, which is expected to have a significant impact on the Reserve Bank of Australia’s future decisions. Over the past two weeks, the AUD/USD pair has experienced a decline of
The article starts by highlighting the rise in U.S. stock futures at the beginning of the week due to several major central bank meetings and key tech company earnings. It mentions that Apple is incorporating artificial intelligence features into its products and that the European corporate results season is ongoing. The focus is on the
Economic data plays a significant role in shaping the forex markets, and the AUD/USD pairing is no exception. In this article, we will delve into the recent analysis provided by industry experts on the Australian Producer Prices and its impact on the AUD/USD trends. StoneX Market Analyst David Scutt (Scutty) emphasized the potential stagflation scenario
In a recent development, six major banks, including Bank of America and Citigroup, have agreed to pay a total of $80 million to settle antitrust litigation in New York. The lawsuit accuses these banks of conspiring to manipulate the prices of European government bonds. The preliminary settlement was filed in Manhattan federal court and is
The Russian Central Bank made a significant move by increasing its key interest rate by 200 basis points to 18%, citing high inflation and an overheated economy as key reasons for the decision. This latest hike has brought the cost of borrowing to its highest level in over two years. The central bank also adjusted
As the week comes to an end, Wall Street appears to be heading for a positive close despite facing several challenges. The release of the Federal Reserve’s preferred inflation gauge is expected to have a significant impact on market sentiment. The personal consumption expenditures (PCE) price index for June is anticipated to reflect a 0.1%
The USD/JPY pair has experienced a significant decline, falling below key support levels on the 4-hour chart. The 100 simple moving average and the 200 simple moving average were both breached as the pair dropped below 155.50. Although a recovery wave was initiated, the pair faces strong resistance at the 154.20 level. Further hurdles lie
South Korea recently announced a series of tax cuts aimed at revitalizing the domestic stock market and addressing the country’s declining birth rate, which is currently the lowest in the world. These proposed tax revisions are part of the broader “Corporate Value-up Programme” introduced earlier this year, and represent the first major overhaul to inheritance
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