Gold Price Recovers Some Losses, Still Below Key 50-Day SMA Resistance During Tuesday’s Asian trading session, gold prices (XAU/USD) experienced some buying, partially offsetting Monday’s modest losses. This revival is driven by U.S. macroeconomic data that suggest easing inflation pressures,
Fed’s Harker Advocates for Single Rate Cut in 2024 Based on Economic Forecast Patrick Harker, President of the Federal Reserve Bank of Philadelphia, believes that one interest rate cut this year would be suitable, based on his current economic outlook.
Nvidia Overtakes Apple in $71 Billion ETF Reshuffle One of the most significant technology ETFs, the $71 billion Technology Select Sector SPDR Fund (XLK), managed by State Street Global Advisors, is expected to undergo a major rebalancing that will significantly
China’s May Retail Sales Exceed Expectations; Industrial Output and Investment Lag In May, China’s retail sales outperformed expectations, increasing by 3.7% year-on-year, surpassing the anticipated 3% rise forecasted by a Reuters poll of economists. This robust retail performance indicates resilient
Japan’s Core Machinery Orders Drop in April, Sparking Capital Spending Worries Japan’s core machinery orders experienced a decline in April for the first time in three months, according to data released by the Cabinet Office on Monday. This development raises
EUR/USD Consolidates Near 1.0700 After Recent Low The EUR/USD pair starts the week on a subdued note, consolidating its recent losses to the lowest level since early May, around the 1.0670-1.0665 region touched on Friday. Currently trading around the 1.0700
Japanese Yen’s Downside Limited by Rising Producer Prices The Japanese Yen (JPY) extended its losing streak for the fourth consecutive session on Wednesday, with the USD/JPY pair strengthening as investors favored the US Dollar (USD) ahead of the Federal Reserve’s
US CPI Steady in May Ahead of Fed Decision The Bureau of Labor Statistics (BLS) is set to release the eagerly awaited Consumer Price Index (CPI) inflation data for May on Wednesday at 12:30 GMT. This report is highly significant
EUR/USD Declines for Third Consecutive Day Ahead of Fed Rate Decision The EUR/USD experienced its third consecutive day of losses on Tuesday as market sentiment soured following the European Union parliamentary elections. The elections resulted in a significant shift towards
Gold Price Stays Low Amid Rate Concerns, Rising US Dollar Demand During early trading in Europe on Tuesday, the gold price (XAU/USD) faced renewed selling pressure, diminishing some of the modest recovery gains it had made from the previous day.
BOJ May Consider Reducing Bond Purchases as Rate Hike Approaches The Bank of Japan (BOJ) is anticipated to discuss reducing its bond purchases at a policy meeting concluding on Friday, with expectations also set for preparations to increase interest rates
Chinese Stocks Fall Amid Economic Worries Chinese stocks fell sharply following a long weekend, with negative developments dampening market sentiment. The CSI 300 Index of mainland shares declined by as much as 1.4% after the markets reopened post the Dragon