The EUR/USD pair experienced a surge after breaking through the key resistance level of 1.0950 against the US Dollar. This resulted in the pair moving into a bullish zone, with the Euro clearing the 1.1000 resistance. The upward movement was supported by the formation of a connecting bullish trend line with a key support level
Potential
The Australian Dollar has shown signs of advancing its gains as the Reserve Bank of Australia (RBA) Minutes indicated that current cash rates are likely to remain for a longer period. This suggests that a rate cut in the near future is unlikely. RBA’s August Meeting Minutes have played a significant role in boosting the
The dollar has weakened significantly against major currencies, reaching its lowest point against the euro in 2020. Traders are anticipating crucial revisions to U.S. payrolls data and are closely monitoring a speech by Federal Reserve Chair Jerome Powell later in the week. The decline in the U.S. currency can also be attributed to falling U.S.
The Australian labour market has been displaying an impressive level of resilience, which is causing a headache for policymakers attempting to control inflation. Despite the recent Consumer Price Index (CPI) figures showing annual inflation in line with expectations, the sustained strength of the services sector, fueled by robust job market conditions, is posing a challenge
The idea of electric vehicles (EVs) saving consumers money in the long term in comparison to traditional gasoline-powered cars is a topic of increasing interest. While the upfront purchase cost of EVs may be higher, the ongoing expenses related to fuel and maintenance are often more economical, totaling up to a lifetime expense that could
Bitcoin (BTCUSD) has been struggling to make significant gains in the past few sessions. The sentiment surrounding Bitcoin has deteriorated after facing multiple rejections at the 50-day simple moving average (SMA). This sideways movement has left investors uncertain about the future direction of BTCUSD. The momentum indicators for BTCUSD are currently skewed to the downside.
In a tragic turn of events, a luxury yacht named “Bayesian,” carrying 22 people, was struck by a violent storm off the coast of Sicily. This incident led to the sinking of the vessel, leaving six individuals missing, including British tech entrepreneur Mike Lynch and his daughter. The missing persons also include high-profile individuals such
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
The recent slowdown in U.S. inflation and a cooling labour market have sparked investor confidence in the potential for the Federal Reserve to cut interest rates. This shift in sentiment has led to a bearish outlook on the dollar in the market, driving key currency pairs towards critical levels that could trigger new medium-term trends.
Investors around the world are eagerly awaiting Federal Reserve Chair Jerome Powell’s speech at the end of this week. The market sentiment is optimistic, with expectations of dovish rhetoric from Powell following a series of signals from other Fed speakers hinting at a September rate cut. This anticipation is reflected in the positive performance of
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
The price of gold has been steadily rising, currently balancing around $2500 per troy ounce. This surge in gold prices can be attributed to the increased demand for safe-haven assets amidst ongoing geopolitical tensions. With the conflict in the Middle East between Israel and Gaza still unresolved, investors are seeking secure investments, thus boosting the
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