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NZ dollar dips after soft Services PMI
The New Zealand dollar has started the trading week in negative territory. NZD/USD is trading at 0.6097 in the European session, down 0.35% on the day at the time of writing. New Zealand Services PMI slips The week started on a sour note in New Zealand as the Services PMI eased to 40.2 in June, down from 42.6 in May, missing expectations and decelerating for a fourth straight month.
15-07-2024 05:42 GMT by Kenneth Fisher
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The Week Ahead - ECB Spotlight as Fed Rate Speculations Drive Market Shifts
US inflation data caused a significant selloff in US mega-cap tech stocks and a shift towards riskier areas of the market. The ECB interest rate decision is expected to bring no change, but the bank lending survey may shed light on the impact of higher rates on the economy. In the UK, inflation data is due on Wednesday, and while headline CPI dipped below 2% in June, it is expected to rise again in the second half of the year.
12-07-2024 13:13 GMT by Zain Vawda
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NZ dollar edges higher despite soft mfg. data
The New Zealand dollar is slightly higher on Friday. NZD/USD is trading at 0.6110 in the European session, up 0.24% on the day at the time of writing. New Zealand dollar showing big swings It has been a volatile few days for the New Zealand dollar.
12-07-2024 06:16 GMT by Kenneth Fisher
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USD/JPY stabilizes after massive slide
The Japanese yen has edged lower on Friday, after posting huge gains a day earlier. USD/JPY is trading at 159.16 in the European session, up 0.26% on the day at the time of writing. Japanese yen soars - soft US inflation or intervention? The US dollar was down against most of the major currencies on Thursday, after a softer--than-expected US CPI report raised expectations for a rate cut in September.
12-07-2024 05:09 GMT by Kenneth Fisher
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EUR/GBP Technical: Make the Pound great again
EUR/GBP has resumed its downward trajectory since the start of the year, now trading close to a 2-year low at 0.8320. Unfavourable political environment in France versus a newly formed Labour-led UK government that favours pro-growth policies may see further underperformance of the Euro against the Pound. EUR/GBP continues to oscillate within a short-term downtrend phase with key resistance at 0.8500. This is a follow-up analysis of our prior report, “EUR/GBP Technical: Hovering at a 14-month l
11-07-2024 09:31 GMT by Kelvin Wong
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GBP/USD hits 4-month high on strong GDP
The British pound has extended its gains on Thursday. GBP/USD is trading at 1.2876 in the European session, up 0.22% on the day. UK GDP beats expectations The sun is shining in London today and there’s plenty to smile about besides the pleasant weather.
11-07-2024 06:24 GMT by Kenneth Fisher
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USD/CAD Price Outlook: 200-day MA Holds Ahead of US CPI Release
USD/CAD has been range-bound, reflecting US Dollar Index consolidation and potential rate differential between Canada and the US. Canada's volatile inflation and struggling labor market increase pressure on the Bank of Canada (BoC). USD/CAD is positioned between key moving averages, with a tight range suggesting a potential breakout following the inflation data.
11-07-2024 05:21 GMT by Zain Vawda
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US CPI Preview: US Dollar Index (DXY) Looks for Guidance from Inflation Data
Anticipation is high for the release of US CPI data, which is expected to influence market movements, especially the US Dollar Index (DXY). The market has priced in an 71.8% chance of a September rate cut, and if inflation aligns with or falls below forecasts, this likelihood could increase. Technically, the DXY is range-bound, hovering between 104.80 and 105.20, with support at the 100-day and 200-day moving averages and resistance at 105.63 and 106.00.
10-07-2024 14:14 GMT by Zain Vawda
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British pound rises, GDP next
The British pound is showing considerable gains on Wednesday after two days of limited movement. GBP/USD is trading at 1.2839 early in the North American session, up 0.41% on the day. Has the UK economy turned a corner? It has been a slow recovery from the coronavirus pandemic for the UK economy.
10-07-2024 12:14 GMT by Kenneth Fisher
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Silver Price Outlook: Will Strong Demand and Tight Supply Keep Prices Shining?
Silver prices have risen due to a supply and demand gap, with demand outstripping supply for the fifth consecutive year. Industrial demand, driven by green energy, AI, and EVs, now accounts for 64% of global silver demand. A potential slowdown in China's economy and prolonged high interest rates could dampen silver prices. Bullish Pennant pattern breakout hints at further upside. Will inflation data halt the move?
10-07-2024 11:20 GMT by Zain Vawda
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New Zealand dollar takes a tumble after RBNZ’s dovish tone
The New Zealand dollar is sharply lower on Wednesday. NZD/USD is trading at 0.6081 in the European session, down 0.72% on the day at the time of writing. RBNZ’s dovish tone raises rate cut expectations The Reserve Bank of New Zealand held the cash rate at 5.50% at today’s meeting, the eight consecutive time it has maintained rates.
10-07-2024 08:10 GMT by Kenneth Fisher
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AUD/NZD: Kiwi torpedoed by a surprise dovish tilt from RBNZ
The Kiwi is the worst intraday performer among the major currencies as it slumped to a 4-week low against the US dollar. A dovish tilt in the latest RBNZ monetary policy statement has triggered a narrowing of the yield discount between the 2-year Australian and New Zealand government bonds. AUD/NZD has staged a medium-term bullish breakout above 1.1000 key support.
10-07-2024 08:04 GMT by Kelvin Wong
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Crypto Update - Bitcoin (BTC) and Solana (SOL) Lead the Rebound
Bitcoin's recent price drop is its largest since late 2022, but the current downtrend appears shallower than previous cycles. Factors contributing to the dip include Mt. Gox repayments and Bitcoin sales by the German government. Solana saw a boost following news of potential spot Solana ETFs to be listed on CBOE. Most Read:  Gold Price Outlook: Can Gold Prices Surpass $2400/oz? Crypto prices have been in somewhat of a free fall over the past two weeks.
09-07-2024 14:15 GMT by Zain Vawda
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Gold Price Outlook: Can Gold Prices Surpass $2400/oz?
Gold prices supported by rate cut expectations and central bank buying. Gold ETFs see positive flows, suggesting bullish momentum. Fed Chair Powell's testimony and may cause short-term volatility but no direction. MOST READ: Oil Price Update – Oil Prices Fall as Gaza Talks and Hurricane Beryl Take Center Stage Gold prices found support at $2350 per ounce yesterday after a selloff erased Friday's gains. On Friday, gold peaked at $2393 per ounce as the market assessed the impact of the US jobs re
09-07-2024 11:40 GMT by Zain Vawda
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Gold Technical: A further drift down in the 10-year UST real yield supports a bullish narrative in Gold
Recent rebound in WTI crude has remained below US$90/barrel which in turn led to a softening of inflationary expectations via the breakeven rates. A further downward drift in the 10-year US breakeven rate may a further drop in the 10-year US Treasury real yield. Lower opportunity costs in hold Gold (XAU/USD) support the potential start of another medium-term bullish impulsive upmove sequence above US$2,285 key support.
09-07-2024 05:44 GMT by Kelvin Wong
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Market Insights Podcast - Impact of a hung French parliament, US and China inflation data looms ahead
OANDA Senior Market Analyst Kelvin Wong joins Jonny Hart to discuss this week's key economic data and events. Firstly, we kickstarted with a discussion on the recent two key developed nations' political events; the UK snap general election and second round of the France legislation elections. The past week of "horse trading" between French President Macron's centrist alliance and the far-left coalition New Popular Front has prevented the initial leading far-right National Rally party from obtai
09-07-2024 00:26 GMT by Kelvin Wong
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