In recent days, the price of gold (XAUUSD) has been on a steady rise, reaching a new peak at 2460 USD per troy ounce. This upward trajectory can be attributed to a variety of factors, with one of the main drivers being the growing anticipation of a potential interest rate cut by the US Federal
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As investors brace themselves for another day of market volatility, the aftermath of a softer-than-expected ISM report on U.S. manufacturing continues to reverberate. The fear of an economic slowdown has cast doubt on the Federal Reserve’s previous signals of a September rate cut. This uncertainty has led traders to speculate on the possibility of a
The West Texas Intermediate (WTI) crude oil price has seen a slight increase, reaching close to $76.50 per barrel during the Asian trading session on Friday. This uptick can be attributed to the escalating geopolitical tensions in the Middle East. As markets keep a close eye on Iran’s response to the assassination of Hamas leader
The advisory board to the German Finance Ministry has raised concerns about the three options being considered to address a 17 billion euro budget shortfall. In a letter seen by Reuters, the board expressed doubts about the effectiveness of these options in reducing the deficit. The options include using extra funds from state bank KfW,
DSYNC Destra Network claims to be a decentralized cloud solutions project utilizing AI computing mechanisms and advanced technologies such as IPFS and ENS. The project has been making waves in the market and investors are closely following its Elliott Wave structure to predict potential outcomes for the token’s value. Elliott Wave Analysis In March 2024,
Yannis Stournaras, a member of the European Central Bank (ECB)’s Governing Council, recently expressed concern about the impact of a weak euro zone economy on inflation in the region. He emphasized that the ECB’s 2% target could be at risk due to the sluggish economic growth. Stournaras, who is known for advocating lower interest rates,
The British pound sterling has been steadily declining against the US dollar, with the GBP/USD pair trending towards 1.2848. This downward trend is influenced by various factors, including the pressure from the USD rate and speculations surrounding the Bank of England meeting. Investors are eagerly awaiting the outcome of the meeting and the decision on
During the July meeting, Chairman Jerome Powell hinted at the possibility of an upcoming rate cut by the Federal Open Market Committee (FOMC). Powell did not provide specific guidance but mentioned that the committee is getting closer to implementing a rate cut, contingent on favorable inflation data. According to economists at Goldman Sachs, Powell’s remarks
The Federal Reserve officials recently announced that they will be keeping short-term interest rates steady for the time being. However, they did indicate that inflation is inching closer to its target, which could potentially lead to future interest rate cuts. Despite this indication, the officials did not give a clear signal that a reduction is
In July, the flash estimate for HICP inflation showed an unexpected but marginal rise in headline inflation to 2.6% from 2.5% in June. This increase was contrary to expectations, as many economists predicted a decrease in inflation rates. Core inflation, however, held steady at 2.9%, which was surprising given forecasts for a drop to 2.7%.
The NZD/USD pair has been trading on a stronger note around 0.5915 in Wednesday’s Asian session, up 0.17% on the day. This increase in strength can be attributed to the better-than-expected Chinese Manufacturing Purchasing Managers’ Index (PMI) data for July. The Chinese PMI for July came in at 49.4, beating expectations of 49.3, while the
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
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