Gold closed last week above $2380 on Friday, reflecting strong performance. In the macroeconomic context, June's ISM Services PMI fell to 48.8 (previously 53.8), below the consensus of 52.5. This indicates a weakening in the services sector, which might impact investor sentiment. On Friday, the Non-Farm Payrolls (NFP) data for June showed an increase of 206,000,...
The S&P 500 closed at a new high last week, indicating strong upward momentum. In terms of macroeconomic data, June's ISM Services PMI fell to 48.8 (previously 53.8), below the consensus of 52.5. This signals a weakening in the services sector, which might impact investor sentiment in the short term. On the other hand, the Non-Farm Payrolls (NFP) data for June...
Current Market Data and Seasonality Nasdaq closed last week at new highs, indicating strong upward momentum. In terms of macroeconomic data, June's ISM Services PMI fell to 48.8 (previously 53.8), below the consensus of 52.5. This signals a weakening in the services sector, which might impact investor sentiment in the short term. On the other hand, the Non-Farm...
Nasdaq ready to rally higher On Tuesday, the Nasdaq index closed its session with a 1% increase, drawing significant attention from investors worldwide. This optimistic outcome was largely driven by Federal Reserve Chair Jerome Powell, whose speech was notably dovish and full of optimism about the current economic situation. Here are some of his key...
Gold The Beginning of a New Wave of Increases Last week, gold successfully defended the critical level of $2300 per ounce, signaling strength in the precious metals market. This event coincides with the onset of a global cycle of interest rate cuts, which historically has supported higher gold prices. Let's take a closer look at why now might be a good time to...
AUD/USD the end of the accumulation? Since May 15, the AUD/USD currency pair has been in a consolidation phase within an upward trend, forming a cup-shaped pattern. This technical phenomenon is often interpreted as a signal for the continuation of the upward trend, which inspires optimism among investors. Such formations suggest that the market is going through...
Bitcoin I Fell Bullish Bitcoin has recently shown promising signs despite the inherent volatility of the cryptocurrency market. Let's take a closer look at the current situation and potential future trends for Bitcoin, based on technical analysis, market sentiment, and macroeconomic factors. Technical Analysis From a technical perspective, Bitcoin is exhibiting...
NASDAQ Time for a Correction? The recent events in the financial markets have highlighted growing uncertainty and the potential for a correction in the NASDAQ. A thorough analysis of both fundamental and sentimental factors provides valuable insights for investors looking to make informed decisions. Technical Overview This past week, NASDAQ failed to surpass its...
EUR/USD No direction Last week, the EUR/USD pair showed little movement in either direction, remaining relatively flat. This period of stagnation is reflective of several underlying factors affecting the currency market. Let’s delve into the key elements influencing the EUR/USD pair at this juncture. Technical Analysis From a technical perspective, the EUR/USD...
In recent market developments, the focus has shifted to the Japanese yen, indicating potential strength against the U.S. dollar due to various influencing factors. The unexpected rise in Japan's Producer Price Index (PPI) to 0.0% compared to the anticipated -0.3% opens the possibility of a shift in Japan's interest rate policies, becoming a central point for...
In recent market developments, the focus has shifted towards potential consequences for the gold market, driven by speculation surrounding the anticipation of swift interest rate cuts in the United States. This shift comes in light of negative economic data, particularly the Empire State Manufacturing Index in the USA, which recorded a significant drop at -43.7...
In recent days, we have witnessed dynamic movements in the EUR/USD market, aligning with my earlier predictions and correlating with the market's uncertainty regarding rapid interest rate cuts. Over the past week, a series of unfavorable economic data points in the Eurozone contributed to the weakening of this currency pair. German macroeconomic data recorded a...
Let's dive into the intricate tapestry of global geopolitics and its potential impact on the gold market. Recent events are unfolding with compelling narratives, each harboring the potential to stir waves in the international landscape. Eruption in Erbil: From the heart of Iraq emerges distressing news of a substantial missile attack on the U.S. consulate in...
In today's post, I aim to delve into the turbulent waters of global geopolitics, where recent events are casting profound ripples across the oil market. The stage is set with a series of impactful occurrences, each possessing the potential to reshape the dynamics of the international landscape. Attack on the U.S. Consulate in Erbil: News is emerging from Iraq...
Over the past week, the EUR/JPY currency pair has been influenced by a series of significant economic indicators, primarily emanating from the challenging economic situation in the Eurozone. Simultaneously, the Japanese yen experienced mixed sentiments, driven by fluctuating economic data and speculations regarding potential interest rate hikes. Additionally,...
The past week has been a wild ride in the forex market, with investors closely monitoring events that have significantly influenced the British Pound (GBP) and the US Dollar (USD). The turning point came during Wednesday's speech by the Governor of the Bank of England, Andrew Bailey, whose hawkish statements propelled the Pound to nearly half a percent...
In recent days, the world's most significant currency pair, Eur/Usd, experienced a decline of 0.21%, reflecting the increasing uncertainty surrounding the timeline for future interest rate cuts in the United States. Over the past week, the Eurozone witnessed a series of negative economic data points that contributed to the weakening of the aforementioned currency...
Gold, a cherished precious metal among investors, recently found itself at the center of global events, leading to a 1% increase last Friday. Several factors, such as the US and UK's attack on Houthi pirates in the Suez Canal and the results of today's elections in Taiwan, where William Lai Ching-te emerged victorious, unfriendly to China, have contributed to...