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Gold prices have seen a resurgence, with a troy ounce of the precious metal reaching 2517 USD. This increase comes as the market eagerly anticipates the release of August’s pivotal US employment report. The data from this report could potentially alter the Federal Reserve’s interest rate outlook, a crucial factor as the Fed’s meeting draws
In the current market environment, the AUD/USD pair is trading lower, near 0.6735, with a 0.10% decrease on the day. Despite hawkish remarks from the Reserve Bank of Australia (RBA), the Australian Dollar has failed to gain strength due to cautious sentiment prevailing in the markets. This has resulted in a softer tone for the
China’s policymakers are facing significant challenges when it comes to addressing deflationary pressures and stimulating domestic demand. Yi Gang, former head of the People’s Bank of China, emphasized the importance of focusing on boosting domestic demand during his speech at the Bund Summit in Shanghai. He highlighted the need for proactive fiscal policy and accommodative
French Prime Minister Michel Barnier, known for his role in negotiating Brexit, now faces a new challenge – running a country divided by deep political faultlines. President Emmanuel Macron’s decision to appoint Barnier, 73, as his prime minister comes at a critical time, with France facing a hung parliament and pressing budget legislation with significant
The GBP/USD pair has been holding above the 1.3100 level, indicating a bullish sentiment in the market. The Relative Strength Index (RSI) is showing that buyers are in control, suggesting further upside potential. The next key resistance level to watch out for is the 1.3200 level. If the pair manages to clear this level, it
The recent data released by the Labor Department regarding jobless benefits in the United States has shown a decline in new applications, pointing towards a positive trend in the labor market. This decrease in layoffs could potentially allay fears of a deteriorating economy, as it indicates a level of stability in the job market. The
Visa recently announced its plans to introduce a dedicated service for account-to-account (A2A) payments in Europe, with the first launch scheduled for early next year in the U.K. This new service aims to revolutionize the way consumers make payments online by allowing them to set up direct debits with just a few clicks, providing more
The EUR/USD pair has maintained stability around 1.1077, with investors exercising caution ahead of crucial employment data releases from the United States. The upcoming ADP private sector jobs report is the first in line, offering insight into market sentiment before Friday’s Nonfarm Payroll (NFP) report. The market will also closely monitor the weekly unemployment claims
The recent unemployment data has raised concerns among investors, particularly in the US labor market. Arch Capital Chief Global Economist Parker Ross highlighted the spike in unemployment in July, attributing it to temporary layoffs. This has led to uncertainties about the recovery in unemployment for the upcoming August jobs report. Moreover, there doesn’t seem to
The silver price has been on a downward trend for the fourth consecutive day, currently standing at around $27.90 in the early European trading session on Wednesday. This decrease represents a 0.55% drop in value. A stronger demand for the US Dollar and worries about China’s economic activity have been key factors contributing to the
The USD/JPY pair has experienced a slight increase, reaching 145.95 on Wednesday morning. This upward movement signals a rebound from two-week lows, however, it is too early to deem it a significant reversal in the trend given the current economic climate. Market participants are exercising caution as they await the release of crucial US employment