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Gold prices have shown little movement recently, hovering within a narrow range as traders brace themselves for the impact of upcoming U.S. economic data on the Federal Reserve’s interest rate path. Despite a slight uptick to $2,325.23 per ounce, the general market sentiment remains cautious. The looming release of GDP and PCE reports has heightened
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The GBP/USD pair is showing signs of recovery after hitting support at the 1.2300 level. Breaking a bearish trend line with resistance at 1.2420 on the 4-hour chart is a positive signal for the British Pound. The pair is now trading above 1.2380 and has surpassed the 23.6% Fib retracement level. Immediate resistance is seen
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The current market scenario reflects a mix of positive and negative indicators across different regions. Strong business activity data in Europe has led to a rise in the euro against the dollar, surpassing $1.07. This increase was further supported by Tesla’s announcement of new models, propelling its shares up by 13% in after-hours trading. Despite
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The recent uptick in economic numbers has provided a glimmer of hope for investors concerned about the possibility of a recession in the US. Although these better-than-expected numbers may provide some support for investor confidence, they are unlikely to change the trajectory of the Federal Reserve’s interest rate decisions. The upcoming release of the US
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German Chancellor Olaf Scholz and Finance Minister Christian Lindner have both expressed skepticism regarding the reform of Germany’s ‘debt brake’. The ‘debt brake’ is a constitutional provision that limits public deficits to 0.35% of the country’s GDP. Scholz mentioned that he does not see any imminent solutions coming from reforming the debt brake and pointed
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The AUD/USD pair has seen a resurgence in upward momentum, marking its second consecutive day of gains and hitting a one-week high near 0.6453. This turnaround follows a period of sharp declines and is largely attributed to the release of encouraging economic data out of Australia. The latest manufacturing PMI report for April showed a
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