The dollar neared an eight-week low as investors awaited the release of a crucial U.S. jobs report that would provide insights into the timing of potential Federal Reserve interest rate cuts. The U.S. dollar index, which tracks the currency against major rivals, remained stable at 104.13, close to its recent low of 103.99. This decline
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The US dollar index has hit a crucial level near the support trendline at 104.00. While this could potentially mark the beginning of a new bullish phase, the technical signals are mixed and uncertain. The stochastic oscillator is hovering near oversold territory, but the RSI remains below the neutral mark of 50. Additionally, the MACD
Gold prices have recently surged to 2368 USD per troy ounce, marking the second consecutive session of upward momentum. This increase can be attributed to market expectations adjusting to the likelihood of future interest rate cuts by the Federal Reserve. Recent employment data, particularly from ADP, indicated a slower-than-expected growth in private-sector jobs in the
The Japanese Yen has been appreciating due to improved risk sentiment, alongside other key factors influencing its value in the global forex market. Japan’s 10-year bond yield fell below 1% for the first time in two weeks, indicating a shift in investor confidence towards the Yen. On the other hand, the depreciation of US Treasury
An unexpected increase in initial jobless claims has the potential to influence investor expectations regarding a September Fed rate cut. This shift in labor market conditions could have ripple effects on various economic indicators such as wage growth, disposable income, and consumer confidence. Should the trend continue, consumers may respond by reducing their spending habits,
A new national stock exchange is in the works in Texas, with investors like BlackRock and Citadel Securities backing the initiative. TXSE Chairman and CEO, James Lee, announced that the group has successfully raised $120 million with the backing of over two dozen investors. This venture is set to take advantage of Texas’s growing economy
The euro showed slight gains on Thursday as traders anticipated a policy decision from the European Central Bank (ECB). A rate cut was widely expected, leading to some strengthening of the euro against the dollar. The Bank of Canada also made the move to cut its key policy interest rate, resulting in a slight boost
The EUR/USD pair has been fluctuating recently, with the Euro gaining ground around 1.0875 despite the recovery of the US Dollar. The upcoming decision from the European Central Bank (ECB) regarding interest rates is expected to play a significant role in shaping the future direction of the currency pair. Additionally, speculation about potential rate cuts
In a recent development, financial technology startup Nium has successfully raised $50 million in new funds from investors. This funding round was led by an undisclosed Southeast Asian sovereign wealth fund and supported by prominent venture capital firms such as BOND, NewView Capital, and Tribe Capital. With this influx of capital, Nium’s valuation has been
The EUR/USD pair has attracted fresh buyers on Wednesday, benefiting from a modest downtick in the US Dollar. The pair has built on an overnight bounce from the 1.0860-1.0855 region, trading just below the 1.0900 mark during the Asian session. This level remains within striking distance of the highest level since March 21, reached on
The technical blog provides an analysis of the past performance of the 1-hour Elliott Wave Charts of GBPAUD. It highlights a trading opportunity that arose from a corrective sequence in the rally from the 09 May 2024 low. The blog emphasizes the importance of identifying key areas for potential buying opportunities rather than selling. The
Emerging markets currencies continue to face challenges in the current global economic landscape, with the U.S. Federal Reserve maintaining interest rates and recent pivotal national election results impacting their performance. In a recent Reuters poll of currency analysts, it was forecasted that these currencies will either weaken or remain within certain ranges over the next