Market News

EUR/USD Declines Further Amid Weak PMI Data

EUR/USD fell to a one-week low on Friday, extending the sharp decline from Thursday, as the pair faced renewed pressure from downbeat PMI data. Reports released on Friday indicated a slowdown in the services industry in the Eurozone and its two largest economies, Germany and France, in June. The manufacturing sector downturn also accelerated,…
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The GBPUSD pair may experience a price adjustment before making a decisive breakthrough of the 1.2800 zone

The British pound strengthened in early Wednesday trading after reaching a nine-week high of 1.2800 on Tuesday. However, it subsequently retreated due to an unexpectedly strong rise in US consumer confidence for May, which temporarily boosted the dollar. The breached Fibonacci barrier at 1.2753 (76.4% retracement of the 1.2893/1.2299 move) has…
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Oil declines for the third consecutive day due to the prospect of ‘higher for longer’ interest rates in the US

On Wednesday, oil prices dipped by over 1%, marking a third consecutive retreat. This drop comes amidst expectations that the Federal Reserve might maintain higher interest rates in the U.S. for an extended period due to persistent inflation, potentially affecting fuel consumption in the world's largest market. Additionally, market sources,…
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Gold prices have reached an all-time high, driven by geopolitical tensions and a surge in demand for the precious metal

Gold prices hit a record high in Asian trading on Monday, driven by heightened geopolitical tensions in the Middle East, which increased the demand for safe-haven assets. Additionally, a broader rally in metal markets contributed to the surge in gold prices. Spot gold climbed nearly 1% to a record $2,440.56 per ounce, while June gold…
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