Gold price has been on a downward spiral for the second consecutive day, reaching a two-week low. While technical selling may be one of the reasons behind this decline, it is expected to remain limited. The looming possibility of a rate cut by the Federal Reserve in September, coupled with a prevailing risk-off sentiment, could
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As the Bank of Canada considers cutting interest rates for the second time in the current cycle, it is essential to analyze the potential implications of such a decision. Commerzbank FX strategist Michael Pfister highlights that the seasonally adjusted monthly rates of change, aligned with the inflation target, support the view of a rate cut.
The NZD/USD pair has weakened around 0.5945 in Wednesday’s early Asian session, marking a 0.25% decline. One of the factors contributing to this decline is the rising expectation of rate cuts by the Reserve Bank of New Zealand (RBNZ). This expectation has been fueled by the softer Consumer Price Index (CPI) inflation for New Zealand
The SMEI rebounded to 50.4 in July, marking an improvement from the previous month. This recovery was mainly attributed to better expectations and improved credit conditions. However, the performance sub-index remained in contractionary territory for the second consecutive month, indicating some challenges in certain sectors. One of the positive factors contributing to the rebound was
The recent Elliott Wave analysis of the Australian Stock Exchange (ASX) focuses on COCHLEAR LIMITED – COH. The analysis indicates that COH has completed wave ((4)) as a Triangle and is now ready to embark on wave ((5)). The analysis suggests that wave ((5)) is expected to move higher, with a target ranging around 386.63
When it comes to investing, it is important to be aware of the risks and uncertainties involved in forward-looking statements. While the information provided may be insightful, it should not be taken as a solid recommendation to buy or sell any assets without conducting thorough research first. Investing in open markets comes with a significant
The New Zealand Dollar (NZD) has been experiencing a downtrend in the forex market, with experts predicting that it could drop below the 0.6000 level. The recent analysis by UOB Group FX strategists Quek Ser Leang and Peter Chia suggests that there is still room for the NZD to weaken further. Looking at the 24-hour
EUR/USD has seen an increase up to 1.0895 in Monday’s early Asian session, showcasing a 0.12% rise on the day. This surge comes as the US Dollar faces a decline, providing some support for the major pair. The German Retail Sales for May are expected later in the day, as well as the US Chicago
The Brent oil price experienced a sharp decline to a monthly low of USD 83.5 per barrel due to the weak Chinese data at the beginning of the week. This drop caused significant concern among investors and analysts, triggering a flurry of market activity. However, to the surprise of many, the price quickly rebounded, catching
Gold prices saw a decline in the Philippines, with prices dropping to 4,580.42 Philippine Pesos per gram from the previous day’s PHP 4,607.54. The price per tola also fell to PHP 53,425.16 from PHP 53,741.41. This fluctuation in prices is influenced by various factors that play a crucial role in determining the value of gold
Gold prices in the United Arab Emirates have remained relatively stable, with slight fluctuations observed over the past few days. According to data compiled by FXStreet, the price for Gold stood at 290.59 United Arab Emirates Dirhams (AED) per gram on Thursday, showing minimal change compared to the previous day. The price for Gold per
The US Dollar has observed a significant fall recently, reaching its lowest value since March. This decline can be attributed to the Federal Reserve’s bets leaning in favor of a dovish stance. The market sentiment towards the Federal Reserve’s monetary policy has been on the dovish side, which has put downward pressure on the USD.