In the recent analysis of the Nikkei 225 chart, it was reported that the index was experiencing a significant upward trend, as indicated by the blue channel. The price had surged to a yearly high above 42,500 points on 10th July, following a notable increase of more than 6%. However, a subsequent decline occurred after
Successful
The GBP/USD pair is currently showing signs of strength as it trades above the 1.2900 resistance level. A key bullish trend line is forming with support near 1.2910 on the hourly chart. The pair has successfully climbed above the 50-hour simple moving average and the 1.2900 mark. Despite a minor decline, the bulls have managed
In a recent article by the Financial Times, it was reported that Prabowo Subianto, the President-elect of Indonesia, plans to allow the nation’s debt-to-GDP ratio to rise to 50%. This decision is based on the condition that his administration can increase tax revenues. While this may seem like a bold move to boost economic growth
The recent movement in the price of gold, as depicted by the XAU/USD chart, has been quite volatile. While there was a significant rise above the $2390 level on Friday, indicating a bullish trend, the price subsequently fell to $2360 per ounce on Monday. This sudden decline suggests that the bulls were unable to maintain
Recently, the gold price has experienced positive traction and has climbed back closer to a two-week top. There are several influencing factors contributing to this movement. One of the key factors is the weakening US Dollar, which has been on a downward trend for the fourth consecutive day. This depreciation of the USD is attributed
The market for initial public offerings (IPOs) in Hong Kong is expected to see significant improvement over the next five years, with the turnaround beginning in the second half of this year. George Chan, global IPO leader at EY, expressed optimism about the future of the Hong Kong IPO market, citing positive trends and a
The news of meme stock trader “Roaring Kitty” buying a 6.6% stake in Chewy sent the shares of the pet food e-commerce retailer soaring in premarket trading. With just over 9 million shares purchased, Roaring Kitty has become the third-largest shareholder in the company, according to FactSet. This move has added more than $245 million
The Bank for International Settlements (BIS) has issued a warning regarding the potential repercussions of rising government debt levels in the face of upcoming major elections. The BIS, often referred to as the central bankers’ central bank, has expressed concerns about the impact that excessive government debt could have on global financial markets. Despite some
The Nasdaq and the S&P 500 reached record highs as an in-line inflation report was released, giving hope for potential interest rate cuts in September. The report indicated that U.S. monthly inflation remained unchanged in May, which was seen as a positive sign following earlier price increases that cast doubt on the Federal Reserve’s monetary
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
As the global economy faces uncertainty and potential downturns, the Australian dollar’s trading relationship with the US dollar remains a crucial focus for investors and analysts. With key economic indicators like the Australian Monthly CPI Indicator and various PMI numbers on the horizon, the AUD/USD pair is poised for significant movement in the coming weeks.
The AUD/USD pair is currently attempting to recover from the 0.6590 support level against the US Dollar. After finding support near this level, there was a break above a key bearish trend line with resistance at 0.6630 on the hourly chart of AUD/USD at FXOpen. The pair dipped from the 0.6700 resistance zone, declining below
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