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AUD/USD remains in the red for the eighth consecutive day, hitting a six-week low early Wednesday. The Australian dollar is under increased pressure from a stronger US dollar, falling commodity prices, and concerns about China’s economic…
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Gold prices showing some resilience after the recent pullback is quite interesting. The Doji candle on Monday suggests that the corrective phase might be losing momentum, especially with support holding around the $2390 mark. The $2427…
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USDJPY fell 0.7% in Asia on Tuesday following comments from a Japanese official that added pressure on the central bank to implement more rate hikes to further strengthen the yen. These latest remarks have boosted the yen's sentiment,…
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EUR/USD edged higher during European trading on Monday, as bears paused after a two-day retreat from a multi-week high of 1.0948. The rising 10-day moving average (DMA) and the 23.6% Fibonacci retracement of the 1.0666 to 1.0948 move (at…
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WTI oil prices are consolidating narrowly early Monday, following a sharp decline on Friday (down 2.8% for the day) and a weekly loss of 4.3%—the biggest weekly drop since the last week of April. Oil closed below $80 on Friday for the…
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The dollar index extended its recovery for the second consecutive day, bouncing strongly from a new four-month low of 103.31 on Thursday. This surge was driven by fresh risk aversion following a global cyber outage that impacted financial…
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The cable remains in the red for the second consecutive day, extending its pullback from a new one-year high of 1.3044. Weaker-than-expected UK retail sales have increased pressure on the sterling and fueled speculation about a BoE rate cut…
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British retail sales dropped by 1.2% in June, following a 2.9% rise in May, missing the forecasted 0.6% decline. Annually, retail sales fell by 0.2% in the 12 months to June, after a 1.7% increase in May, and fell below the…
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British inflation held steady at 2.0% in June, missing forecasts for a slight decline to 1.9%. Persistent underlying price pressures dampened expectations for the Bank of England’s first rate cut since 2020 at next month's policy meeting.…
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Gold surged to a new record high of $2,482 early Wednesday, following a notable acceleration through the previous peak on Tuesday. The metal rose by 1.9% on Tuesday, marking its largest daily gain since December 13. The break above the…
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