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The unchanged retail sales in June, despite expectations of a decline, indicate a stronger underlying trend in consumer spending, which could positively influence economic growth estimates for the second quarter. This stable performance…
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USDJPY remains in an extended consolidation phase following last week’s sharp fall, triggered by US inflation data and intervention by Japanese authorities. The near-term action is holding above the 55-day moving average (157.55), which…
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Gold prices rose further in early Tuesday trading following dovish comments from Fed Chair Powell in his Monday speech. This has heightened expectations that the Fed may soon decide to start cutting interest rates. Powell…
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The dollar index turned red on Monday after initially opening higher due to market reactions to the assassination attempt on former President Donald Trump. However, dollar-negative sentiment prevailed during the European and early…
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The cable maintained its strong stance on Monday, hitting a new yearly high and trading just below the psychological barrier of 1.30. Over the past two weeks, the pair has made significant gains, although bulls may face…
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China’s economy grew by 4.7% in the second quarter, marking the slowest pace of growth since Q1 2023. This is a decline from the 5.3% expansion in the first three months of 2024 and falls short of the expected 5.1% growth. The…
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BTCUSD surged nearly 5% in early Monday trading, breaking above the $63K barrier for the first time in two weeks. The fresh rally extends into its third consecutive day, accelerating higher after the weekend's assassination…
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EURUSD continues to trend higher, showing minimal negative impact from hotter-than-expected US PPI data (June 0.2% m/m vs 0.1% forecast and 0.0% in May). The latest bullish leg extends into its third consecutive day, pressuring…
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On Friday, the dollar index remained defensive, consolidating below a new one-month low of 103.74 set after Thursday’s 0.8% decline. The weaker-than-expected US CPI data for June deflated the greenback, increasing expectations…
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Gold prices eased from a new seven-week high on Friday morning as traders took profits following Thursday’s 1.9% rally, sparked by US CPI data. The yellow metal received a fresh boost from cooler-than-expected US inflation,…
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