Gold prices have been on a positive trajectory for the past few days, mainly due to the weaker US dollar. The recent US Nonfarm Payrolls data indicated a slower job growth rate, leading to speculations of potential rate cuts by the Federal Reserve. This anticipation of an easing cycle has made gold a more attractive
Forex News
The relationship between the Chinese economy and the Australian Dollar (AUD) is a complex and significant one. The latest data published by Caixin shows that China’s Services Purchasing Managers’ Index (PMI) eased to 52.5 in April, compared with the March print of 52.7. This has implications for various factors that influence the value of the
The Japanese Yen has been on an upward trend for the past three days, reaching a three-week high and showing signs of strength in the market. Speculation regarding Japan’s financial authorities intervening in the market for the second time this week has contributed to this upward movement. Additionally, the post-FOMC selling of the US Dollar
Indian Rupee (INR) appears to gain momentum on Friday due to the cautious comments made by Federal Reserve Chair Jerome Powell, which have led to selling pressure on the US Dollar (USD). Moreover, the positive sentiment in the Indian equity markets and the inflow of foreign capital have further supported the INR. The market players
As the Governor of the Bank of Greece, Yannis Stournaras, suggests that the European Central Bank (ECB) will likely reduce borrowing costs three times in a year rather than four, the implications for the Euro become apparent. Stournaras’s remarks indicate a cautious approach to monetary policy, taking into account the pace of economic growth and
The Western Texas Intermediate (WTI) crude oil benchmark has been experiencing a downward trend, hovering around $80.80 on Wednesday. This decline can be attributed to the unexpected build-up of crude oil stockpiles in the United States. In the week ending April 26, crude oil inventories in the US rose by 4.906 million barrels, contrary to
The GBP/JPY pair has been steadily rising as the market mood brightens, leading to reduced flows into the safe-haven Yen. Positive lending data in the UK indicates that credit remains ample, which has contributed to the bullish sentiment surrounding the GBP/JPY pair. The BRC Shop Price Index also shows disinflation in the UK, although it
Upon conducting Elliott Wave analysis on the Australian Stock Exchange (ASX) with REA Group LTD, it appears that wave 2-red may have recently concluded, signaling the potential for wave 3-red to soar even higher. This major trend in the minor degree, red, shows a Mode of Motive and Position of Wave 3-red. The current short-term
Germany’s Retail Sales saw a significant jump of 1.8% month-on-month in March, following a 1.9% decline in February. This positive change in retail activity indicates a potential recovery in consumer spending habits within the country. The rebound in Retail Sales provides a glimmer of hope for the German economy, which has been facing challenges due
China’s Caixin Manufacturing Purchasing Managers’ Index (PMI) showed a significant increase to 51.4 in April, surpassing the previous month’s expansion rate of 51.1. This exceeded market expectations of 51.0, indicating a strong performance in the manufacturing sector. Production expanded at the most pronounced pace since May 2023, reflecting a positive trend in output. Additionally, new
Silver prices have been on the rise, with XAG/USD trading at $27.39 per troy ounce, up 0.64% from Friday. This increase of 7.54% since the beginning of the year has caught the attention of investors. But what exactly drives these price movements? One important indicator to watch is the Gold/Silver ratio, which stood at 85.38
The EUR/USD pair has shown signs of gaining ground, reaching 1.0710 amid a weaker US Dollar on Monday. This movement in the major pair can be attributed to various economic factors influencing the foreign exchange market. The US PCE inflation data, which rose by 2.7% YoY in March, surpassing expectations, has played a role in