The fluctuation of gold price (XAU/USD) continues on Monday as it struggles to gain traction, oscillating below the $2,330 level during the Asian trading session. Traders are hesitant to make significant moves due to the uncertainty surrounding the Federal Reserve’s rate-cut path, leading to subdued price action. While recent US inflation data supports the likelihood
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The French parliamentary election is here, and the country is facing the possibility of having its first far-right government since World War Two. President Emmanuel Macron made the surprising decision to call for this snap election after his centrist alliance suffered a significant defeat in the European elections by Marine Le Pen’s National Rally (RN).
The year’s second half could bring a bullish move for both value and growth stocks, according to VettaFi’s Todd Rosenbluth. In a recent interview on CNBC’s “ETF Edge,” Rosenbluth expressed optimism for value stocks, which have historically been market laggards. He pointed to the FTSE Russell’s annual rebalancing as a potential catalyst for a resurgence
The S&P 500 futures saw an increase on Friday as traders awaited the release of crucial inflation data. The first half of the year has been particularly strong with the Nasdaq leading gains in June by a significant 6%. On the other hand, the S&P 500 and Dow also saw gains of over 3% and
The eurozone has been experiencing a lackluster economic performance in recent years. However, the latest data revealing a 0.3% quarterly growth in GDP suggests that the bloc is currently not in a technical recession. Despite this seemingly positive development, there is still a looming possibility of a recession later in the year, albeit minimal. The
Recently, the USD/JPY pair reached levels as high as 160.34, a milestone not seen since 1986. This surge is primarily fueled by market expectations of potential intervention by Japanese authorities. Despite verbal assurances from Finance Minister Shunichi Suzuki about the government’s readiness to counteract fluctuations in the yen’s value, concrete financial measures have yet to
Cisco’s Greater China head, Ming Wong, expressed his optimism about the growing business with Chinese electric car companies as they expand overseas. The electric vehicle (EV) segment is the second-largest for Cisco in the region, generating most of its revenue from manufacturing companies, with electric cars being the largest category. Chinese EV-makers have been increasing
The EUR/USD pair failed to surpass the 1.0765 resistance level and subsequently declined once again. The 4-hour chart reveals the formation of a major bearish trend line with resistance at 1.0710. Currently, the pair is consolidating near the 1.0670 support zone. Despite facing resistance at 1.0710, a clear move above the 1.0720 resistance level could
In a recent statement, Masato Kanda, Japan’s top currency diplomat, emphasized the role of the Bank of Japan (BoJ) in intervening in foreign exchange markets when deemed necessary. Kanda highlighted the need for appropriate measures to address excessive forex movements, signaling that Japan is closely monitoring exchange rate fluctuations. Following Kanda’s remarks, the Japanese Yen
In a recent television interview, Chancellor Olaf Scholz reiterated Germany’s coalition government’s commitment to its social agenda despite economic challenges. He emphasized the importance of defending and further developing the welfare state while addressing other pressing issues, such as military aid to Ukraine. The three-way coalition in Germany, comprising the Social Democrats (SPD), pro-business liberals
The gold price has recently shown a positive trend, starting with an increase above the $2,335 resistance level. This uptrend began after finding support near the $2,300 zone against the US Dollar. A connecting bullish trend line is in formation with support near $2,345 on the hourly chart of gold at FXOpen. The price surged
The USD/JPY pair has shown strength by breaking through the 158.20 resistance level. This has allowed the pair to rise towards the 159.20 resistance area, with the potential to reach the 160.00 level. The technical indicators, such as the 100 and 200 simple moving averages, are supporting this bullish movement. However, it is essential to
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