The stock market saw a rebound on Friday, with the S&P 500 index closing 1.11% higher. However, it is essential to note that it closed well below the daily high of 5,488.32, which indicates consolidation rather than a significant change in the short-term trend. The market may attempt to reverse the downtrend today, as the
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The New Zealand Dollar (NZD) is expected to continue range trading with the range likely to be between 0.5875 and 0.5920. Analysts at UOB Group, Quek Ser Leang and Peter Chia, have noted that despite the possibility of further weakness in the NZD, the severely oversold conditions suggest limited downside potential. The key level to
The USD/JPY pair began the new week on a positive note, with fresh buyers entering the market during the Asian session on Monday. The pair jumped to the 154.35 region amid some repositioning trade ahead of key central bank events scheduled for later in the week. Despite the positive start, the upside potential for USD/JPY
The financial markets have been experiencing mixed actions, which has led investors to adopt a cautious stance on Friday. The upcoming economic data releases, particularly the Personal Consumption Expenditures (PCE) Price Index data and the revisions to the July Consumer Sentiment Index, are being closely monitored for insights into the state of the economy. The
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
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