The NZD/USD pair is currently gearing up for a mid-week rally, edging closer to the 0.6116 level. This surge comes following the Reserve Bank of New Zealand’s decision to keep its monetary policy framework unchanged during the May meeting. The interest rate remains steady at 5.5% per annum, aligning with market expectations. The central bank
Development
The cautious stance of the Federal Reserve has had a significant impact on the WTI crude oil prices. Despite the recent softening of inflation, Fed officials are hesitant to declare success in controlling inflation. This has led to concerns that US interest rates may remain elevated for a prolonged period, causing the prices of Brent
The recent tragic news of Iranian President Ebrahim Raisi’s death in a helicopter crash has had a significant impact on the price of gold. The helicopter crash, which also claimed the lives of Foreign Minister Hossein Amir-Abdollahian and other officials, has led to a surge in the price of gold. As reports of the search
In light of recent comments from FOMC members Michael Barr and Raphael Bostic, it is evident that there is a growing sentiment within the Federal Reserve for a more cautious approach towards rate cuts. Despite this, the market is still pricing in a September rate cut, albeit with slightly reduced confidence. This shift in sentiment
The EUR/USD pair has recently experienced a strong uptrend, breaking above key resistance levels at 1.0820, 1.0850, and 1.0895. This indicates a positive sentiment in the market for the Euro against the US Dollar. The pair is currently trading above the 200 simple moving average and the 100 simple moving average on the 4-hour chart,
The Federal Reserve is expected to release the minutes of its most recent meeting, shedding light on the prospects for future rate cuts in response to inflation pressures. Fed Chair Jerome Powell’s comments during the meeting indicated a likelihood of maintaining higher rates for a longer period. Furthermore, several Fed officials, including Raphael Bostic, Michael
The recent restructuring of the European Union fiscal framework has stirred up concerns among analysts at Bank of America Securities. The new rules, which were put in place on April 30, aim to enforce budget constraints on member states to encourage responsible spending and reduce debt levels. However, this move has sparked a debate on
The central banks have been a topic of debate lately due to the potential divergence in interest rate policies. The Bank of Canada is expected to cut interest rates three times ahead of the Federal Reserve’s first move, according to a poll of analysts. The weakening Canadian dollar has sparked discussions about how much the
The recent release of CPI figures indicates a slowdown in inflation, leading to speculation of a potential rate cut. This development has weakened the dollar and consequently boosted the value of assets priced in dollars, such as BTC/USD. As a result, the price of Bitcoin has surged to a May high. There is sustained demand
The Chinese electric car company Nio recently unveiled its new, lower-priced brand, Onvo, with the first car being an SUV called the L60. This new model is set to be about $4,000 cheaper than Tesla’s comparable Model Y, making it an attractive option for those looking to enter the electric vehicle market without breaking the
The upcoming economic data presents a challenging situation for Federal Reserve chairman Jerome Powell. While there may be some temporary relief in the data, the persistent signs of sticky inflation and above-trend growth are likely to overshadow any positive developments. According to Phillip Colmar, managing partner and global strategist at MRB Partners, the underlying trend
The AUD/USD pair has climbed to 0.6620, driven by a positive market mood and a weakening US Dollar. Despite the release of stubborn US PPI data, the appeal of the US Dollar has failed to gain traction. US Dollar Vulnerability The US Dollar Index (DXY) has dipped towards the crucial support level of 105.00 against
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