Gold has maintained a strong position, hovering near an all-time high as of Friday. The anticipation of the release of US PCE data later in the day is keeping traders on edge, awaiting fresh signals for market direction. The precious metal is currently fueled by robust demand, stemming from its safe-haven status, significant purchases by
Development
In the early Asian session on Friday, EUR/USD was trading stronger near 1.1080 despite the release of positive US GDP data. The US Gross Domestic Product (GDP) growth rate for the second quarter (Q2) rose at an annual rate of 3.0%, surpassing expectations. The report indicated that the US economy could avoid a recession, reducing
The NZD/USD pair has been gaining momentum, reaching as high as 0.6280 in the early Asian session, marking its highest level since January 4. This uptick in the New Zealand Dollar (NZD) can be attributed to the recent surge in New Zealand’s Business confidence. According to the ANZ Business Outlook Survey, business confidence in New
Boeing’s Starliner faced significant technical issues with its propulsion system, jeopardizing the safe return of its first crew from the International Space Station. Glitches in Starliner’s propulsion system, including five failed thrusters and leaks of helium, raised serious concerns about the spacecraft’s ability to bring astronauts back to Earth safely. This posed a major setback
The recent dovish shift by the U.S. Federal Reserve is expected to provide some respite for the Bank of Japan in its efforts to control a weak yen. However, the diverging policy paths of these two central banks could lead to market uncertainty, complicating the BOJ’s ability to raise interest rates in the future. The
The article highlights the changing dynamics in business price-setting behaviors, particularly in response to increased pressures on wages. It suggests that further analysis is needed to ascertain the implications of this trend. While the information provided is insightful, it lacks depth in explaining the specific factors driving these shifts in pricing strategies. A more thorough
The AUD/USD pair experienced a drop, adjusting to 0.6950, due to a USD recovery, strong Australian PMIs, and the hawkish views of the Reserve Bank of Australia (RBA). The pair saw a moderate decline on Thursday after a significant rally in the previous sessions. The narrative of monetary policy divergence between the Federal Reserve (Fed)
Philadelphia Federal Reserve President Patrick Harker recently voiced his support for an interest rate cut in September during an interview with CNBC. Harker’s statement marks a significant shift in the Federal Reserve’s stance on monetary policy easing, with Harker emphasizing the importance of moving rates down in a methodical manner. Despite markets already pricing in
The USD/CHF pair has been experiencing a downward trend, currently trading near 0.8620. The weakening US Dollar can be attributed to the market’s expectation of three quarter-point rate cuts by the Federal Reserve this year. This anticipation has put pressure on the USD, resulting in a bearish sentiment for the currency pair. The upcoming speech
In the Asian session on Tuesday, the New Zealand Dollar saw a significant increase in momentum. This rise in the currency was primarily driven by a positive risk sentiment that weighed on the US Dollar and subsequently lifted the NZD/USD exchange rate. Investors were eagerly awaiting the rate decision from the People’s Bank of China
China is facing a series of economic challenges that are putting pressure on policymakers to take drastic actions. Recent data shows that the world’s second-largest economy is struggling to maintain growth, with new home prices falling at the fastest pace in nine years, industrial output slowing down, export and investment growth declining, and unemployment on
Recently, NZD/JPY has experienced a slight increase, reaching 89.30 and testing the 20-day Simple Moving Average (SMA). This movement indicates a potential shift in the market sentiment towards the currency pair. Looking at the technical indicators, the Relative Strength Index (RSI) is hovering around the 50 mark. Meanwhile, the Moving Average Convergence Divergence (MACD) is
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