The AUD/USD pair has recently reached 0.6676, showing signs of a sideways pattern. This lack of clear direction indicates a mixed sentiment in the market. The positive movement of the Australian dollar can be attributed to the weakening stance of the US dollar, primarily influenced by the recent comments made by Federal Reserve Chair Jerome
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The Reserve Bank of Australia (RBA) has been under scrutiny for its stance on returning inflation to target levels. Investors are closely watching the RBA Meeting Minutes for any hints of a rate hike, especially in light of a deteriorating labor market and macroeconomic conditions. The possibility of an August rate hike raises concerns about
The recent rally of Chewy shares was triggered by a picture posted by Roaring Kitty, also known as Keith Gill, on social media platform X. The image, which resembled the logo of the online pet food retailer, caused the stock to surge by as much as 34% to $39.10. However, these gains were short-lived as
Recently, French drugmaker Servier faced a major setback in its legal battle against the European Union for deals made with rivals to delay the sales of generic versions of its popular blood pressure medicine perindopril. The European Commission imposed a hefty fine amounting to 331 million euros on Servier back in 2014, along with fines
The Deputy Governor Ryozo Himino of the Bank of Japan has highlighted the significant impact of exchange rate fluctuations on economic activity. These fluctuations not only affect inflation through direct impact on import prices, but also have broader and sustained implications. While the Bank of Japan aims to cap the upside through intervention threats, a
The market saw a mixed reaction in stock futures as June came to a close, with the first half of 2024 ending at near record highs. The S&P 500 hit an intraday record last Thursday, continuing its bullish trend with an 0.6% gain for the eighth positive week in nine. Nvidia, a key player in
The Indian Rupee started off the new week on a positive note, showing strength despite the stronger US Dollar. This resilience can be attributed to various factors such as the positive economic growth outlook in India, significant foreign inflows into Indian markets, and expectations of continued policy reforms following the general election results. One of
The gold price is currently hovering near a two-week high due to market expectations of a rate cut by the Federal Reserve in September. This anticipation of a rate cut has bolstered the XAU/USD pair, despite the rise in US bond yields, which in turn supports the US Dollar and acts as a ceiling for
In recent days, commodity markets have seen a resurgence in positive territory, with both silver (XAG/USD) and gold (XAU/USD) experiencing gains. The underlying factor behind this surge appears to be mounting concerns around geopolitical tensions in both the Middle East and Asia. News of a potential escalation on the northern border between Lebanon and Israel
The US Dollar faced a decline on Tuesday, with the DXY Index dropping to 105.30, as investors reacted to the lower-than-anticipated Retail Sales figures for May. This downward movement was exacerbated by comments from Federal Reserve officials, signaling potential rate cuts in the near future. The mixed signals in the US economic outlook, coupled with
The Australian dollar remained steady after the Reserve Bank of Australia (RBA) decided to keep rates at 4.35%, as expected. The central bank warned against inflation risks and traders adjusted their expectations accordingly. Despite the lack of surprises in the RBA decision, the Aussie dollar held firm at $0.6612. Market sentiment was further buoyed by
The price of gold experienced a setback at the beginning of the week, dropping below $2320 as geopolitical tensions took a backseat. The recent volatility in the market was influenced by conflicting data regarding interest rates and market participants’ preference for US Treasuries. The US dollar index (DXY) faced resistance at 105.63, leading to a
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