China’s manufacturing activity showed a decline for the third consecutive month in July, according to an official factory survey. The official purchasing managers’ index (PMI) dropped to 49.4 in July from 49.5 in June, falling below the 50-mark that separates growth from contraction. This decline has raised concerns about the need for Beijing to introduce
Development
Gold has recently shown signs of recovery after finding support near the $2,352 level against the US Dollar. The price has managed to break above the $2,380 level and the 200 Simple Moving Average on the 4-hour chart. Additionally, a connecting bearish trend line with resistance at $2,388 was cleared, indicating a possible uptrend. As
The Japanese government recently revised its growth forecasts for the fiscal year ending March 2025, lowering it from 1.3% to 0.9%. This adjustment was made due to concerns about the weak Yen and its impact on households’ purchasing power. The Bank of Japan’s Deputy Governor also highlighted the influence of exchange-rate fluctuations on economic activity
The Australian Dollar (AUD) has experienced a significant decline of approximately 3.5% against the US Dollar (USD) since July 12. While the Australian economy has been creating more jobs per month than before the pandemic, the recent labor market data did not have the expected positive effect on the AUD. This should have supported the
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
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
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