The Euro has faced resistance at the 1.12000 level, leading to a correction down to 1.1100. The current range-bound trading between 1.1200 and 1.1090 raises questions about potential scenarios in upcoming sessions. A break below 1.1090 could trigger a downward correction towards 1.1050-1.0980, while consolidation above 1.1200 may resume the upward momentum towards 1.1400-1.1300. Technical
The White House has announced that President Joe Biden and Chinese President Xi Jinping are scheduled to have a phone conversation in the “coming weeks.” This comes as U.S. national security adviser Jake Sullivan travels to Beijing for discussions with Wang Yi, China’s top diplomat. The two leaders are expected to address a range of
The NZD/USD pair has been showing strength around 0.6280 in the early Asian session, marking a 0.57% increase for the day. One of the key factors influencing this movement is New Zealand’s Business Confidence, which has surged to the highest level in a decade based on the recent ANZ Business Outlook survey. This positive outlook
Recently, the U.S. dollar has been holding near its lowest point in over a year against a basket of currencies, with sterling also trading near multi-year highs. The focus of the market has shifted towards predicting the extent of the upcoming U.S. interest rate cut. Traders are closely watching for any clues that could shed
The Indian Rupee (INR) is under pressure in Wednesday’s early Asian session due to weakening in Asian peers and month-end USD demand. The local currency is also impacted by US Dollar (USD) demand from importers. Despite these challenges, positive domestic markets and Federal Reserve (Fed) Chair Jerome Powell’s dovish comments at the recent Jackson Hole
The NZD/USD pair has shown significant strength in recent trading sessions, breaking above the 0.6050 and 0.6120 resistance levels. This bullish momentum has been driven by a positive outlook for the New Zealand Dollar, with the pair now consolidating gains below the 0.6250 level. On the 4-hour chart, a major bullish trend line is forming
Xpeng, the Chinese electric car company, made waves in the automotive industry on Tuesday with the launch of its new mass-market Mona brand. The Mona M03 electric coupe, priced as low as $16,812, quickly garnered attention with over 10,000 orders in just 52 minutes after its formal introduction in Beijing. This launch solidifies China’s position
The recent comments made by AMP’s Head of Investment Strategy and Chief Economist Shane Oliver regarding the Aussie Labor Report shed light on the current economic situation in Australia. Oliver’s statement about the increasing unemployment rate being the highest since November 2021 raises concerns about the state of the labor market. However, he also mentioned
When it comes to financial decision-making, it is crucial to understand the disclaimers provided by websites offering advice and analysis. These disclaimers often highlight the importance of conducting your own research, consulting with financial advisors, and being aware of the risks involved in trading and investing. One of the key points emphasized in the disclaimers
The partnership between Volkswagen and Chinese startup Xpeng involves hundreds of Volkswagen staff spending time at Xpeng to develop electric cars for the Chinese market. This collaboration is significant as it aims to create two electric cars by 2026 based on Xpeng’s G9 platform. The fact that Volkswagen workers are spending more time at Xpeng’s
Recent statements by Federal Reserve officials have suggested that a rate cut in September is highly probable. However, the exact extent of the reduction remains uncertain and will depend on various economic data points, according to Deutsche Bank economists. They anticipate that the size of the rate cut at the upcoming September meeting will be
In Tuesday’s early Asian session, the Indian Rupee weakened due to month-end USD demand and higher crude oil prices. Traders are closely watching the US August CB’s Consumer Confidence ahead of key events later in the week. Anuj Choudhary, Research Analyst at Sharekhan by BNP Paribas, predicts that the rupee will trade with a slight