Oil prices consolidate as U.S. crude oil inventories decline, but waning optimism over the Chinese economic stimulus and rising Middle East tensions keep markets in a cautious state. -vtmarkets.com
Key points: Australian dollar hit a 19-month high, with bullish momentum pushing towards $0.7030. New Zealand dollar reached yearly highs, moving close to a crucial resistance level at $0.6412. We saw the Australian dollar climbing to $0.6890, coming close to …
Gold prices remained elevated at $2,658.07 per ounce after reaching a record high of $2,664.25. This move higher can be traced to two major factors. First, the dollar weakened by 0.2%, making dollar-denominated gold cheaper for holders of other currencies. …
The euro dropped on weak PMI data in Germany and France, raising expectations of ECB rate cuts. Investors now foresee 44 basis points in reductions by year-end. -vtmarkets.com
USDJPY pulls back on narrowing US-Japan interest rate differentials. With the fiscal half-end of Tokyo approaching, volatility is expected. Insights into support and resistance levels for traders. -vtmarkets.com
Key points: Nikkei jumps 1.5%, reaching 38,293.34, after Wall Street’s strength. BOJ’s dovish stance supports market sentiment, as chip-related stocks rally. The Nikkei climbed to a three-week high as trading resumed after a long holiday weekend in Japan. Boosted by …
Though economists widely expect the RBA to hold interest rates steady, the market seems divided on the potential for cuts in the near term. Reuters’ poll of 44 economists shows just four anticipate a reduction by year-end, while traders see …
The New Zealand dollar holds steady as traders focus on U.S. economic data and upcoming RBNZ rate cuts on domestic economic contraction. Short-term outlook remains cautious as global and local factors play a role. -vtmarkets.com
Copper prices edge higher after the rate cut from the U.S. Federal Reserve, with further support stemming from improving U.S. economic sentiment and rising demand from China. -vtmarkets.com
Gold prices remained strong after the U.S. Federal Reserve cut rates by half a percentage point last week. With further rate cuts expected by the year’s end, gold continues to attract demand, as lower interest rates typically boost the appeal …
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