The daily chart reveals a subtle change in buyers’ momentum, noted by decreasing MACD green bars and a neutral RSI. Hourly indicators picture a balanced scenario for the session. At the end of the week, the NZD/USD has lost 0.21% as buyers seem to have run out of steam. The sluggish trend momentum might suggest
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High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
The US session was informed most by the University of Michigan consumer sentiment preliminary data which showed a sharp decline in the sentiment index to 67.4 from 76.0 . The expectations also fell sharply to 66.5 from 75.0 and current conditions also tumbled to 68.8 versus 79.0. To make the data even worse when you
Spot gold extended its rate cut hope rally Friday to rise to $2378 before giving back some of the gains to close with a gain of 0.59% at $2360. It slid from the day’s high on hotter-than-expected University of Michigan consumer inflation expectations data, however, it was still up around 2.60% on the week. The
Global markets were buoyed by pervasive risk-on sentiment last week, with both FTSE and DAX setting new records and major US indices posting substantial gains. Even Hong Kong HSI extended its rally from January’s lows by 25%, underscoring a broad uptick in investor confidence. In Europe, enthusiasm was particularly pronounced following the ECB’s reaffirmation of
Bank of England Governor Andrew Bailey attends the central bank’s Monetary Policy Report press conference at the Bank of England, in London, on May 9, 2024. The Bank of England on Thursday kept its main interest rate at a 16-year high, but hinted at a cut over the summer as UK inflation cools further and
In this article ARM Follow your favorite stocksCREATE FREE ACCOUNT The logo of semiconductor design firm Arm on a chip. Jakub Porzycki | Nurphoto | Getty Images Shares of British chip designer Arm closed down more than 2% on Thursday as lackluster revenue guidance clouded a positive sales quarter driven by demand for artificial intelligence
Notable monetary divergence between Fed, G10 peers keeps USD afloat. Markets await further economic reports for insights into the US economy’s health for potential adjustments to Fed expectations. Next week’s highlight will be April’s US CPI. The US Dollar Index (DXY) is currently trading around the 105.35 mark, posting mild gains on Friday near the end
EURUSD falls back to support targets after resistant test The EURUSD moved higher in the early US session reaching a new intraday high of 1.07895. That got within a paper so of the 50% midpoint of the move down from the March 2024 high to the April 2024 low at 1.07906. The 200 day moving
For the y/y data: CPI +0.3% continuing to claw its way out of deflation this is the third consecutive month of above zero CPI y/y expected +0.2%, prior +0.1% PPI -2.5% still in deep deflation, as it has been since October of 2022 expected -2.3%, prior -2.8% The slight lift for the CPI is good
Oil prices dropped to a near two-month low on receding tensions in the Middle East, a complex interplay of escalating supply levels, demand worries, and challenging economic indicators. The global benchmark, US WTI crude currently clinging below $80 a barrel, has lost more than 10% from a near two-year high tested last month. A similar
In this article GRMN TSN AXP UPST Follow your favorite stocksCREATE FREE ACCOUNT Getty Images At American Express, consumers are continuing to open high-fee credit cards and splurge on luxuries like travel. But for lending firm Upstart, there’s a strong interest in microloans as cash-strapped Americans try to scrape by. That juxtaposition underscores the growing
In this article SG Follow your favorite stocksCREATE FREE ACCOUNT People dine outside a Sweetgreen in Manhattan. Jeenah Moon | The Washington Post | Getty Images Sweetgreen shares surged 35% on Friday after the company topped Wall Street’s revenue expectations for the first quarter. The salad chain reported $158 million in revenue, beating the LSEG
Gold rebounds from daily lows, propelled by a sharp drop in US consumer sentiment and future economic outlook. High US Treasury yields weren’t an excuse for Gold’s advance. US consumers expect inflation to remain above 3% over a one-year period. Fed officials are cautious about rate cuts, with mixed signals from different Fed governors. Gold
The University of Michigan inflation expectation data sent the US dollar higher and the AUDUSD and NZDUSD pairs lower. Those moves to the downside, extended each pair to new session Lois, and in the process, each are also testing their 100-hour moving averages. Both also have found some risk-focused buyers leaning against the moving average
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
While gold has delivered 16% returns since last Akshaya Tritiya, Indian equity markets have produced four multibagger stocks in the jewellery segment during this period, outperforming not just the yellow metal but also S&P BSE Sensex which has yielded 21%. These stocks are namely Sky Gold, Kalyan Jewellers India, Thangamayil Jewellery and PC Jeweller which
Canadian Dollar surges in early US session after much stronger than expected job data that blew past market expectations. The Loonie is taking over Sterling’s position as the best performer of the day, with the latter lifted slightly by strong UK GDP data. At the same time, Dollar is also strengthening slightly against others, but
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