Quick Look: EUR/USD faces a pivotal week with key US and EU economic indicators. Resistance and support identified: Resistance at 1.0754, Support at 1.0654. Upcoming US inflation data and central bank decisions are critical for the short-term outlook. The EUR/USD currency pair is moving toward a crossroads, facing challenges and opportunities. Investors and traders are …
EUR/USD Faces 3.4% Drop Amid US and EU Economic Shifts Read More »
Quick Look: USD/CAD nears key resistance at 1.36840-1.36860; support at 1.36720-1.36750. This week’s key events include US economic reports, Bank of Canada, and Federal Reserve rate decisions. Oil prices affect CAD; treasury yields and buying interest boost USD. The USD/CAD pair has recently undergone noteworthy fluctuations in the dynamic landscape of global currency exchanges. Presently …
Quick Look: Chinese Yuan is expected to depreciate to 7.35 by Q2 2024 and 7.45 by Q3. PBOC set the CNY reference rate at 7.1059, with operations aimed at stability. Shifts in Chinese production affect global market prices and trade. As of now, the exchange rate for the USD/CNY stands at 7.1059. Looking ahead, financial …
Quick Look: ECB Vice President hints at June rate cut, influencing EUR/USD exchange rates. Mixed PMI data presents a complex economic outlook; the US shows weaker figures. Technical patterns suggest a potential decline in EUR/USD amid fluctuating forex markets. In a week filled with pivotal economic updates, the euro experienced significant fluctuations, influenced by European …
Euro Wavers: ECB Rate Signals and Mixed Global Indicators Read More »
Quick Look: IMF revises the 2024 global growth forecast by 0.1%, maintaining a stable outlook amidst global challenges. Advanced economies like the US and the Eurozone show positive indicators, surpassing pre-COVID levels. Geopolitical tensions, inflation risks, and differing central bank approaches threaten forecasted growth despite potential economic drivers. The IMF emphasizes urgent reforms for sustained …
Quick Look: GBP struggles at 1.2430 against USD, down 3.7% from March highs. CPI, retail data influence GBP/USD amid Fed and BoE rate speculations. Fed maintains firm stance on rates, BoE signals potential easing. GBP/USD faces critical support at 1.2337; traders adjust strategies amidst uncertainty. The British pound is currently on the back foot against …
Quick Look: EUR/USD shows potential for a minor rebound, facing mixed market sentiments. Key support at 1.0600-1.0605, with resistance near 1.0710. Hawkish Fed vs ECB rate cut rumours fuel volatility. Upcoming economic events include UK inflation data and the ECB President’s speech. NZD strength on inflation report, GBP volatility ahead of UK data. The Euro …
EUR/USD Eyes 1.0665 Amid Mixed Central Bank Signals Read More »
Quick Look: NZD falls to 0.5950. The bearish trend suggests a drop to 0.5840. Business NZ PSI contracts; BNZ forecasts a 2% GDP decline. The upcoming speech by Fed’s Lorie K. Logan is crucial for policy insights. Investors are watchful as upcoming data could sway markets. The New Zealand Dollar (NZD) continues declining against the …
Quick Look: US CPI rose by 0.4% month-over-month, with an annual increase of 3.5%. March’s Producer Price Index grew by 0.2% month-over-month and up by 2.1% yearly. ECB Holds rates, key rates unchanged; potential rate cut signalled by June. US retail sales are expected to rise by 0.3% month-over-month next Monday. The Consumer Price Index …
Quick Look: RBNZ is on a path to hold OCR at 5.5% amidst recession and falling inflation. NZ is in a technical recession; the Q4 economy contracted by -0.3%. The US labour market is strong, but the Fed is cautious as no rate cuts are expected soon. The NZD/USD exchange rate is bearish, with analysts …
NZD/USD Dips Ahead of RBNZ Decision Amids Global Uncertainty Read More »
Quick Look: Euro faces resistance at 1.0880, with the 100 SMA at 1.0870 providing an additional barrier. Support levels were identified at 1.0820 and 1.0785, correlating with the 61.8% Fibonacci retracement. US CPI report and ECB’s interest rate decision this week are key for future direction. Euro shows resilience, bouncing off the 50-day SMA, but …
Volatile Path of Euro: Key Levels and Economic Data Read More »
Quick Look: Green premiums are rising, with a 5% premium for low or zero carbon emissions aluminium products. Middle-Eastern aluminium commands a 2% green premium, indicating shifting market dynamics. New Zealand is seeing significant interest in its almost zero-carbon product to capture up to 20% of the market. Growing demand and tightening supply conditions are …
Aluminium’s Green Revolution: 5% Premiums Lead Change Read More »
Quick Look: Neutral intraday bias for USD/CHF, with key support at 0.8964. Eyes on resistance levels at 0.9070 and 0.9243 for potential bullish signals. Economic indicators and central bank moves are closely watched for future direction. Market sentiment is cautiously optimistic, with potential rate cuts on the horizon. The USD/CHF currency pair presented a neutral …
Quick Look: Gold (XAU) scores record high as prices soared unprecedentedly on Monday. U.S.-China economic health and Fed rate cut probabilities shape gold prices. Bullish sentiment persists, but potential correction looms, influenced by central bank actions and inflation data. Gold’s allure has intensified, capturing the attention of investors worldwide as it reached new record highs …
Gold Hits Record $2,265 Amid Fed Cut Speculation Read More »
Quick Look: The AUD/USD pair currently nears 0.6525, with a 0.16% increase daily. Mixed signals from global economies, with the US PCE and Chinese PMI figures standing out. Federal Reserve’s Jerome Powell hints at potential rate cuts, stirring market expectations. The Australian to US Dollar (AUD/USD) exchange rate has shown notable movement. Currently, it is positioned …
AUD/USD Edges Up 0.16% Amid Global Economic Signals Read More »
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