Looking at the long-term trend on the monthly scale, there is a possibility of a breakout happening in the near future. Price has been forming higher highs and higher lows, suggesting that there is bullish momentum building up. The recent higher low at $1.2037 in October 2023 indicates that buyers are stepping in at higher
The AUD/USD pair has recently reached 0.6676, displaying a “sideways” pattern that indicates a lack of clear directional momentum. This phenomenon can be attributed to the uncertainty surrounding both the US dollar and the Australian dollar’s stances in the market. The US dollar’s weakening can be linked to Federal Reserve Chair Jerome Powell’s cautious approach
The EUR/JPY cross has been gaining momentum recently, reaching around 173.80 during Wednesday’s European session. This represents a 0.20% increase on the day, indicating positive movement in the exchange rate. The weakening of the Japanese Yen can be attributed to the latest data showing that Japanese business activity turned contractionary in June. This has put
China holds a dominant position in the global supply chain of critical minerals, including tungsten. Tungsten, known for its hardness and high energy density, plays a crucial role in various industries such as weapons, autos, electric car batteries, semiconductors, and industrial cutting machines. Companies like Taiwan Semiconductor Manufacturing Company and Nvidia rely on tungsten for
European Central Bank policymaker Gabriel Makhlouf is taking a cautious stance on interest rate cuts, signaling that he is comfortable with just one more cut this year. Despite market expectations for at least two more cuts by December, Makhlouf emphasized the need for more time to gain confidence that inflation is heading towards the ECB’s
Passion tourism is a growing trend that focuses on traveling based on personal interests, hobbies, or cultural events. While destination plays a role, the primary motivation for these trips stems from a desire to indulge in one’s passions. Recent examples of passion tourism include the Carnival festival in Rio de Janeiro, total solar eclipses in
GBPCAD has recently bounced back above the 50-day simple moving average (SMA) following a 2% correction in June. This correction led the price below the SMA, towards the upper ascending trendline that has been intact since the fall of 2023. While momentum indicators are showing positivity again, there are hints that the uptrend may be
Federal Reserve (Fed) Chairman Jerome Powell and European Central Bank (ECB) President Christine Lagarde recently shared their insights on the monetary policy outlook at the ECB Forum on Central Banking in Sintra. They highlighted key points such as the stickiness of services inflation, the cooling off of the labor market, and the expectation for inflation
The UK 100 stock index (cash) has experienced a prolonged downward trend for the sixth consecutive trading day, highlighting the challenges faced by investors. The index has reached a critical support zone of 8,110 just ahead of the impending election day on July 4. This indicates a sense of uncertainty and caution among market participants,
Wall Street’s index futures took a hit on Tuesday as megacap stocks saw a pullback following a strong session. Companies such as Microsoft, Apple, and Amazon.com slipped in premarket trading after experiencing significant gains the day before. Tesla also shed 1% after a notable jump on Monday, while AI chip leader Nvidia and other semiconductor
The FX Empire article discusses the Reserve Bank of Australia (RBA) and the potential for an interest rate hike in the coming months. The article emphasizes the importance of monitoring the RBA’s determination to reach its inflation target, even at the expense of other economic indicators such as the labor market and macroeconomic environment. The
The news of meme stock trader “Roaring Kitty,” whose real name is Keith Gill, buying just over 9 million shares of Chewy created quite a stir in the financial market. This move amounted to a 6.6% stake in the pet food e-commerce retailer, making him the third-largest shareholder in the company. The value of his