Tag: Economic indicators

The USD/JPY currency pair's daily forecast shows that the intraday bias is currently on the upside. The ongoing rally is expected to reach the 160.20 high, with a possibility of extending to the 100%...

The USD/CAD pair stopped its six-day losing streak and is currently trading around 1.3700 in the Asian session on Monday. This turnaround was prompted by higher-than-expected US Purchasing Managers Index (PMI) data, which boosted...

The USD/CHF pair took a dive to 0.8825 last week before making a strong recovery. Currently, the initial bias is neutral for consolidations above 0.8825, with a bearish outlook in the near term as...

Foreign exchange trading is a risky venture that may not be suitable for all investors. It is important to be aware that leverage can increase the level of risk and potential loss. Before engaging...

The recent data from Eurostat has shown a rise in inflation in the Eurozone countries, reaching 2.6% in May. This increase in consumer prices led to a slight hope among euro bulls that the...

The yen has been weakening recently, with USD/JPY rising above 159.00 and approaching the year-to-date high of 160.17 from April. Despite Japan's intervention in late April/early May to support the yen, the impact has...

Silver prices experienced a significant drop, falling 3.86% due to the influence of strong US Treasury bond yields and a robust US Dollar. The current trading price for silver stands at $29.53, marking a...

The GBP/USD pair continued to decline last week, falling from the short-term high of 1.2859 despite a temporary recovery. This week, the initial bias is towards further downside movement. If the key support-turned-resistance level...

The upcoming events for the week include various economic indicators from different countries. On Monday, we have the Bank of Japan releasing the Summary of Opinions and German IFO data. Tuesday will see the...

The New Zealand Dollar (NZD) versus the US Dollar (USD) pair experienced a three-day losing streak, closing the week on a negative note with the pair stabilizing at 0.6115. The outlook for NZD/USD continues...

The USD/JPY pair saw a significant increase last week, rising from 151.68 to 159.81, showing no clear signs of a peak yet. The initial bias for this week remains on the upside, with a...

The Australian Dollar has been facing significant declines recently due to fading RBA gains and disappointing PMI data. The AUD/USD pair has been testing key support levels, with selling pressure originating from Asian markets...

Gold prices took a hit on Friday, dropping more than 1.70% as economic data from the United States led investors to rethink the possibility of fewer interest rate cuts by the Federal Reserve. The...

Stay informed about the upcoming economic events and speeches that could impact the financial markets this week. On Monday, June 24, at 3 AM ET, keep an eye out for FOMC member Waller speaking....

Gold prices took a hit after the release of strong US PMI data, which showed that both manufacturing and services activity remained robust in June. This led to higher expectations for inflation and interest...

The week ended on a soft note for US equities, with key events and releases to watch in the upcoming week. Gold saw a short-lived rally before falling $40. MUFG predicts that the BOJ...

The Euro Area's economic recovery is facing uncertainty as recent Purchasing Managers' Index (PMI) data points to weaknesses in the region. While global equities saw modest gains and crude oil prices surpassed USD 85...

Foreign exchange trading is a risky endeavor that may not be suitable for all investors. It is important to carefully consider your investment objectives, experience level, and risk tolerance before engaging in such activities....

The focus next week will be on the core PCE inflation data in the US, which could confirm market expectations of two Fed rate cuts by the end of 2024. Despite the Fed's dot...

USD/JPY bulls are taking big risks. The pair has been on the rise for seven consecutive days following a strong US services PMI report. The PMI reading of 55.1 is the highest in 26...

The recent data coming out of the United Kingdom has painted a mixed picture of the economy, leading to some turmoil for the Pound Sterling (GBP). According to Scotiabank’s Chief FX Strategist Shaun Osborne,...

EUR/USD faced a significant drop to 1.0670 as a result of the weak preliminary Eurozone PMI data for June and the strong performance of the US Dollar. The Eurozone's Composite PMI unexpectedly declined to...

Eurozone's Purchasing Managers' Index (PMI) data for the month of June has raised concerns as both the Manufacturing and Services sectors experienced significant declines. The Manufacturing PMI dropped from 47.3 to 45.6, falling below...

The UK Services PMI for June fell below expectations, with a reading of 52.9 compared to the prior 51.2. The Manufacturing PMI came in at 51.4, slightly higher than the expected 51.3, while the...

Japan's core consumer price index (CPI) excluding food prices increased by 2.5% year-on-year in May, which is slightly lower than the expected 2.6%. This is the 26th consecutive month that core inflation has exceeded...

Foreign exchange trading is a risky endeavor that may not be suitable for all investors. It is important to be aware of the risks involved, especially when using leverage, as it can lead to...

The NZD/JPY cross has been on an upward trend, reaching new cycle highs above 97.00. This positive movement continued on Thursday as the cross surpassed the previous resistance level and set a fresh cycle...

The British pound saw a decline on Thursday, with GBP/USD trading at 1.2683 during the North American session, marking a 0.29% decrease for the day. The Bank of England's decision to keep rates unchanged...

US housing starts for the month of May came in lower than expected at 1.277 million, missing the 1.370 million forecast. Additionally, initial jobless claims were reported at 238,000, slightly higher than the estimated...

The US Dollar gained strength on Thursday as US Treasury yields rose, boosting the Dollar Index (DXY). Despite weak data, including a decrease in Building Permits and Housing Starts, the USD showed resilience. Federal...

We are approaching the end of the second quarter, and while we are still some time away from getting the official GDP numbers, the latest estimates from the Atlanta Fed are showing strength. This...

The Bank of England is set to keep its policy rate unchanged for the seventh consecutive meeting on Thursday. Despite the recent increase in disinflationary pressures in the UK and speculation about two interest...

New Zealand's economy showed signs of growth in the first quarter of the year, with a GDP increase of 0.2% quarter-on-quarter, exceeding expectations of 0.1% growth. This growth helped the economy bounce back from...

Gold prices saw minimal movement during the North American session due to low trading volume. This was attributed to the Juneteenth holiday. However, data from the US indicated a slowing economy, which raised expectations...

The Mexican Peso experienced a slight decline against the US Dollar after making gains over the past five trading days. Currently, the USD/MXN pair is trading at 18.41, showing a 0.08% increase. This movement...