The New Zealand Dollar (NZD) is currently facing a critical juncture in the market, with analysts predicting a potential test of the 0.6115 level if it remains below 0.6185. Despite the possibility of a drop, a significant break below 0.6115 is not expected in the near future. The recent trading range has seen NZD fluctuate
Technical Analysis
The gold market has been consolidating gains below the $2,530 resistance level, indicating a period of indecision among traders. The 4-hour chart of XAU/USD shows a key contracting triangle forming with support at $2,495, suggesting that a breakout is on the horizon. While gold prices have remained stable above the 100 Simple Moving Average and
Gold prices experienced a 0.30% increase on Tuesday, driven by a decline in US Treasury yields and a weakening US dollar. Traders are anxiously awaiting the release of crucial US inflation data, as well as the outcome of the first presidential debate between Kamala Harris and Donald Trump. These events have the potential to significantly
The recently released UK labour market data has shown a positive outlook with employment growth exceeding expectations. This news has created a bullish impulse for the pound, with GBP/USD rising initially. However, the fact that the pair retraced towards its initial levels shortly after the release indicates a struggle for bulls to capitalize on the
The correlation between EUR/CHF and European stock indices, such as the France CAC and Germany DAX, has been remarkably high in recent times. This high positive correlation, with coefficients reaching 0.82 and 0.84, indicates a strong relationship between the movement of the currency pair and the performance of these key European benchmarks. The synchronized movements
Gold prices have seen a significant increase, with a troy ounce of the precious metal now priced at 2517 USD. This surge comes as the market eagerly anticipates the release of August’s crucial US employment report, which could have implications for the Federal Reserve’s interest rate outlook. Lower interest rates would reduce the cost of
As the EUR/USD pair hovers around 1.1077, investors are eagerly awaiting crucial employment data from the United States. The upcoming ADP private sector jobs report is expected to provide insights into market sentiment, setting the tone for the highly anticipated Nonfarm Payroll (NFP) report on Friday. The focus on employment indicators by the Federal Reserve
The USD/JPY pair has experienced a slight uptick, reaching 145.95 recently. While this increase is a rebound from a two-week low, the current economic environment does not necessarily point towards a significant trend reversal. The upcoming US employment data for August is highly anticipated, with market participants anxiously awaiting its release. The figures are expected
Gold has been outperforming other assets, with a seven-month winning streak that has seen the precious metal increase in value by 21% since the beginning of the year. This impressive performance has caught the attention of investors and analysts alike, who are now pondering whether this upward momentum will continue in September or if gold
Bitcoin’s price has been closely monitored, especially in relation to its movement within the bounds of two channels: a bullish channel that began forming in 2023 and a bearish channel that started taking shape in March 2024. The bullish channel came into existence on the back of Bitcoin ETF approval rumors, while the bearish channel
Recently, gold has been struggling to surpass the $2525 per ounce mark on the spot market. Despite facing resistance at this level, there have been numerous attempts to break through, indicating strong buying pressure. A pattern of diminishing pullbacks and increasing rallies suggests a potential breakout to historical highs in the near future. Examining the
Gold prices have maintained a strong stance, hovering near record highs and showing resilience in the face of market uncertainties. The metal’s value has been propped up by a combination of factors such as high demand as a safe haven asset, significant purchases by central banks, geopolitical tensions, and the anticipation of the Federal Reserve’s