The USD/JPY pair experienced a pullback as a result of a risk-off market sentiment that generated safe-haven demand, benefiting the Japanese Yen. This shift in market dynamics put downward pressure on the pair, pushing it towards the 155.00 barrier. Rumors circulating that the Bank of Japan (BoJ) is considering reducing its bond purchases further supported
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After touching a three-week low on Friday, the Gold price (XAU/USD) continues to struggle for momentum during Monday’s Asian session. Several factors are leading to this lackluster performance, including speculation around potential Federal Reserve rate cuts and geopolitical risks. These factors are balancing each other out, leaving the precious metal lingering near recent lows. One
China’s Caixin S&P Global Manufacturing Purchasing Managers’ Index (PMI) rose from 51.4 in April to 51.7 in May, according to the latest data released on Monday. The reading beat the market consensus of 51.5 in the reported month. Production expands at most pronounced pace since June 2022. Fastest purchasing activity growth in three years as confidence
Upon meticulously analyzing the Elliott Wave patterns on various key market indicators such as the NASDAQ 100 (NDX), QQQ ETF, SP500 (SPX), and individual stocks like Apple (AAPL) and Tesla (TSLA), a clear picture emerges. The current scenario points towards a developing Wave iii of (i) of v) of 1 of (5) of 3) of
The Australian Dollar managed to hold its ground after China’s PMI data was released on Friday. The data showed a decline in both the Manufacturing Purchasing Managers Index (PMI) and the Non-Manufacturing PMI in May. This unexpected drop could have a significant impact on the AUD in the coming days. Despite the disappointing PMI figures
In April, Japanese Retail Trade saw a growth of 2.4% Year-over-Year (YoY), surpassing the forecasted 1.9% and bouncing back from the previous period’s low of 1.1%. This positive growth is a promising sign for the Japanese economy, indicating an increase in consumer spending. Large Retailer Sales also showed growth, with a 3.0% YoY increase in
The US Dollar Index (DXY) faced a downward trend following a sharp recovery earlier in the week. This decline can be attributed to the released US Gross Domestic Product (GDP) revisions and higher than expected Jobless Claims numbers. These economic indicators have shaken investor confidence and raised concerns about the overall health of the US
Upon analyzing the daily chart of the VanEck Semiconductor ETF (SMH), it is evident that the function of the trend is impulsive. The motive structure indicates a potential upside movement in Minor wave 5. As the ETF reached the Medium Level at $250, there is anticipation for a potential wave {iv} of 5 to initiate
The GBP/USD pair has shown a decline to 1.2695 during the early Asian session, largely due to the strength of the US Dollar. The higher US yields and lower expectations of a Federal Reserve rate cut in September have boosted the USD and consequently weighed on the GBP/USD pair. Investors are eagerly awaiting the release
The silver price has been on an upward trend, reaching around $32.25 during the early European session, marking a 0.50% increase for the day. A key factor contributing to this rise is the growing industrial demand for silver. According to projections from the Silver Institute, the total industrial demand for silver is expected to increase
China’s Shanghai city recently implemented several measures to revitalize its struggling property sector. These measures include a reduction in the down payment requirement, lower minimum mortgage rates, and eased restrictions on home purchases. Additionally, the required years of social security or income tax payments for non-Shanghai residents have been decreased from five to three years.
The Nasdaq100 index showed significant growth in the month of May, leading the US indices upwards and indirectly impacting markets globally. As of Thursday, the index was approaching the 19,000 level, exhibiting an impressive 11% increase from the lows recorded on April 19th. However, amidst this growth, a wave of selloffs occurred causing a 2%