The EUR/JPY pair has seen a consistent decline for the second consecutive day, falling to a one-month low of 158.20 during the Asian trading session. Despite a minor recovery, the pair is still down by almost 0.30% for the day, hovering around the mid-158.00s. One of the key factors leading to this decline is the
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The gold price (XAU/USD) has been facing downward pressure as the US Dollar (USD) gains strength due to reduced expectations of a 50 bps Fed rate cut. The recent mixed US monthly jobs report has prompted investors to scale back their bets on a larger interest rate cut by the Federal Reserve (Fed) in September.
The recent Chinese Consumer Price Index (CPI) and Producer Price Index (PPI) data have shown mixed results, with the CPI rising at a slower pace than expected and the PPI declining more than forecasted. This has led to minimal impact on the AUD/USD pair, with buyers seemingly unaffected by the softer-than-expected inflation data from China.
The recent trends in Non-Farm Payrolls (NFPs) have raised concerns among investors and analysts. While initially appearing strong, the anticipated buying squeeze was short-lived, leading to a shift in rate cut probabilities. Despite the mention of a 50 basis points (bp) cut possibility by Waller, the actual odds remained at a mere 30%, even after
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
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 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 Japanese Yen has seen an increase in value as the government allocates a significant amount of funds towards energy subsidies. This move is expected to have positive impacts on the economy, potentially stabilizing certain sectors that rely heavily on energy consumption. However, challenges remain as weak Japanese manufacturing data has sparked speculation about the
When analyzing the previous market cycle prediction for CrowdStrike Holdings, Inc. (CRWD), it becomes evident that the forecast was not entirely accurate. The expectation of ending an important market cycle between 303.60 and 271.69 was based on Elliott Wave Theory, specifically identifying an impulse as wave (I) and anticipating a correction as wave (II). However,
US inflation, as measured by the PCE Price Index, has remained steady at 2.5% year-over-year in July. The stability in inflation comes at a time when the USD is gaining strength due to the overall performance of the economy. However, despite the positive economic indicators, inflation remains a key consideration for the upcoming decisions in
The gold market has recently experienced a drop below $2,500 following the release of the US PCE report, which has increased the likelihood of a rate cut by the Federal Reserve in September. Traders are currently expecting a 25 basis point cut rather than a more aggressive 50 basis point reduction. This cautious policy easing
The EUR/USD pair trades stronger near 1.1080 in Friday’s early Asian session after snapping a two-day losing streak. The recovery comes as US GDP expanded more than expected in Q2, with the growth rate rising at an annual rate of 3.0%. This second estimate released by the Department of Commerce surpassed both the forecast and