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
The GBPUSD pair recently surged above its previous peak, indicating a strong bullish trend in the market. This upward movement confirms the higher high bullish sequence from the recent low in September 2022. The current rally from the April 2024 low appears to be following a 5-wave impulse pattern based on the Elliott Wave theory.
The Dow Jones Industrial Average soared to new heights on Monday, showcasing bullish momentum in the U.S. stock market. However, the enthusiasm was not shared by the tech sector giants, as the S&P 500 and Nasdaq experienced slight dips in performance. Despite this mixed finish, there is a silver lining to be noted – a
Recent reports have shown that China’s new property sales have remained weak, which is also affecting steel demand and production. This is a concerning trend that can have ripple effects on the global economy. Judo Bank Chief Economic Advisor, Warren Hogan, expressed his concerns regarding the August PMI Survey and the RBA rate path, suggesting
The recent remarks by Kazuo Ueda, the Governor of the Bank of Japan, have caused a stir in the forex market. Ueda’s hints at adjusting the monetary policy based on economic forecasts have raised speculations of a potential interest rate hike. This comes as Japan’s core consumer price index rose to 2.7% in July, signaling