The EUR/USD pair has experienced a pullback from its recent highs, facing strong resistance at the 1.12000 level. After two failed attempts to break above this level, the price has corrected to 1.1100, where it found support. Currently, the pair is trading in a range-bound pattern between 1.1200-1.1090. If the price manages to break and
The recent announcement that U.S. President Joe Biden and Chinese President Xi Jinping are scheduled to have a phone call in the “coming weeks” signifies a potential shift in U.S.-China relations. This dialogue comes at a crucial time, as tensions between the two nations have been heightened in recent years. The White House’s decision to
In the early Asian session on Thursday, the NZD/USD pair gained momentum, reaching the highest level since January 4. This uptick in the New Zealand Dollar was attributed to a surge in business confidence in New Zealand. According to the ANZ Business Outlook Survey, business confidence rose to its highest level in a decade, with
The Indian Rupee (INR) has been facing pressure in early Asian trading on Wednesday due to the weakening in Asian currencies and increased demand for USD by importers. Investors are closely monitoring the speeches by the Federal Reserve’s Christopher Waller and Raphael Bostic for potential market-moving insights. On the domestic front, positive market sentiment and
The recent focus on the size of the anticipated U.S. interest rate cut next month has left the U.S. dollar trading near its lowest level in over a year against a basket of currencies. This comes as investors closely monitor clues regarding the Federal Reserve’s next move. It is widely expected that there will be
The NZD/USD pair has recently rallied above key resistance levels of 0.6050 and 0.6120, indicating a strong bullish trend. This surge has propelled the pair into a positive zone, with the potential for further gains in the near future. A major bullish trend line is currently forming with support at 0.6120 on the 4-hour chart.
The recent Aussie Labor Report has shown an increase in unemployment rates, which has raised concerns about the health of the labor market in Australia. Despite this, the Head of Investment Strategy and Chief Economist at AMP, Shane Oliver, believes that this rise in unemployment is not as concerning as job losses would be, and
Xpeng has recently launched its new mass-market Mona brand, offering electric cars at prices as low as $16,812. This move positions the Chinese automaker as a strong competitor in the market, especially with prices significantly lower than Tesla’s Model 3. The company announced that orders for the Mona M03 electric coupe surpassed 10,000 within just
When it comes to trading and investing in cryptocurrencies and contracts for difference (CFDs), it is crucial to understand the high level of risk involved. Both cryptocurrencies and CFDs are complex instruments that come with the potential for losing a significant amount of money. Before diving into these markets, individuals should carefully consider whether they
The partnership between Xpeng, a Chinese startup, and Volkswagen, a German auto giant, has been making waves in the electric car industry. Hundreds of Volkswagen staff are currently spending time at Xpeng’s offices in order to work together on developing electric cars specifically for the Chinese market. This joint effort, which was announced in July
Recent statements from Federal Reserve officials have indicated that a rate cut in September is very likely. Although the exact size of the reduction remains uncertain and dependent on data, Deutsche Bank economists believe that it is almost certain. The decision to cut rates in September will be primarily based on labor market data, according
The Indian Rupee has experienced a weakening trend in Tuesday’s early Asian session due to month-end USD demand and higher crude oil prices. These factors have put pressure on the INR, causing traders to be cautious in their approach. The recent economic growth data indicating a slowdown in India’s GDP growth rate has also contributed