The New Zealand Dollar has gained momentum in Tuesday’s Asian session as positive risk sentiment weighs on the US Dollar, resulting in a rise in the NZD/USD pair. Investors are now eagerly awaiting the People’s Bank of China (PBOC) rate decision and Fedspeak on Tuesday for further market cues. The People’s Bank of China (PBOC)
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The USD/JPY pair made some gains on Monday, but it has been struggling to maintain its upward momentum. Despite reaching the 148.00 mark in the Asian session, the pair has since dropped to a fresh daily low below the mid-147.00s. This indicates that there are significant challenges preventing the pair from capitalizing on its modest
The NZD/JPY currency pair has experienced a slight increase, reaching 89.30 and testing the 20-day Simple Moving Average (SMA). This movement indicates a potential shift in the market dynamics. Technical Indicators Analyzing the technical indicators, we observe that the Relative Strength Index (RSI) is hovering around 50. This suggests a neutral sentiment among traders. Additionally,
The US Dollar (USD) experienced a decline following the release of the University of Michigan’s Consumer Sentiment Index figures and softer-than-expected housing market data. Markets remain confident about a potential rate cut by the Federal Reserve in September. However, the data suggests that the US economy is maintaining growth above trend, leading to an overestimation
The AUD/USD pair saw a 0.40% increase during Friday’s trading session, reaching a level close to 0.6950. This rise can be attributed to the hawkish stance maintained by the Reserve Bank of Australia (RBA), particularly emphasized by Governor Michele Bullock. Despite a mixed forecast for the Australian economy and increasing inflation, the RBA’s consistent hawkish
The price of silver, denominated as XAG/USD, experienced a decline on Friday, as reported by FXStreet data. Currently, silver is trading at $28.24 per troy ounce, marking a 0.41% decrease from the $28.36 price point observed on Thursday. Despite this recent dip, silver prices have managed to increase by a significant 18.70% since the beginning
The AUD/JPY cross has gained momentum near 97.55 in Thursday’s Asian session, registering a 0.36% increase on the day. This increase can be attributed to the positive impact of the Chinese July Retail Sales data on the Australian Dollar (AUD). Chinese Retail Sales rose by 2.7% year-over-year in July, surpassing market expectations and providing support