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Due to the US holidays the markets are closed in the United States, which has reduced volatility. In general, it has resulted in the EUR/USD remaining near the 1.0900 mark. A resumption of the previous decline would have to pass below the 50-hour SMA and the 1.0900 mark. Further below, the rate could look for support in the
This week, Volkswagen has announced that it is hiking the salaries at the company's US factories by 11%. The company and other non-union car makers had come under scrutiny for not increasing wages.
In the aftermath of Binance Chief Changpeng Zhao pleading guilty to US authorities, the exchange has experienced outflows totalling $956 million.
The US University of Michigan consumer survey has revealed that most of United States consumers are expecting that inflation would increase, despite official data showing a decline in price increases.
The price for United States light crude oil pierced the late 2022 high level and then failed to reach above the $95.00 mark per barrel. Afterwards, a sharp decline started that was only slowed down by a retracement, which was caused by the start of war in the Middle East. Although, the recovery was short lived, as the price
After finding support in the 30,400.00/30,600.00 range, the Japanese stock index has ascended to the early summer high levels and the 34,000.00 mark. The future outlook depends on whether this level holds. A move above 34,000.00 is set to result in the index booking new all time high levels. Watch out for round levels that could impact the index. However, a
Gold has retraced back down and found support in the 100-hour simple moving average near the 1,986.00 level. During the first part of Thursday's trading, it was spotted that the price remained below 2,000.00. The metal appeared to be needing additional support to push higher. The support could be provided by the 100-hour SMA moving higher. Economic Calendar Analysis Next week, the
The USD/JPY booked a new high, before consolidating its gains by a minor retracement back down. Most recently, the pair retraced to the 149.00 mark and confirmed it as support. In general, prior forecasts remain unchanged.Meanwhile, traders had held on to their long positions, as 70% of open position volume was bullish. Economic Calendar Next week, the EUR/USD could react to the
The GBP/USD eventually ended sideways trading and declined. Meanwhile, 66% of Dukascopy traders were shorting the pair and had close by stop losses.However, the sharp decline quickly found support in the 1.2450 level and a recovery started. Since 68% of pending orders in the 100-pip range were to buy, it is assumed that most traders took profits or were stopped
The decline of the Euro against the US Dollar eventually encountered support in the form of the 1.0850 level. In addition, it is assumed that some pressure came from the approaching 200-hour simple moving average. The event was followed by a recovery up and above the 1.0900 mark. Economic Calendar Analysis Next week, the EUR/USD could react to the publication of the
Reuters has revealed that top Alibaba executives have been calming down staff over former CEOs sales of the company's shares.
Gold has retraced back down and found support in the 100-hour simple moving average near the 1,986.00 level. During the first part of Thursday's trading, it was spotted that the price remained below 2,000.00. The metal appeared to be needing additional support to push higher. The support could be provided by the 100-hour SMA moving higher. The price needs to
The USD/JPY booked a new high, before consolidating its gains by a minor retracement back down. Most recently, the pair retraced to the 149.00 mark and confirmed it as support. In general, prior forecasts remain unchanged. An extended move above 149.00 could be slowed down by the 149.50 level, before the 150.00 mark is reached. Higher above, note the descending
It appears that a sharp move of the Pounds value at 09:30 was caused by the publication of better than expected United Kingdom Purchasing Managers Indices of the Services and Manufacturing sectors. The Markit Services and Manufacturing sector Purchasing Managers Index survey results revealed better than expected situations in the two economic sectors. The Manufacturing PMI was forecast to be
The GBP/USD eventually ended sideways trading and declined. However, the sharp decline quickly found support in the 1.2450 level and a recovery started. By mid-Thursday, the pair had even reached above the 1.2550 level, as the 1.2505/1.2510 range acted as support. However, it appears that the sharp move upwards at 09:30 was caused by the publication of better than
The decline of the Euro against the US Dollar eventually encountered support in the form of the 1.0850 level. In addition, it is assumed that some pressure came from the approaching 200-hour simple moving average. The event was followed by a recovery up and above the 1.0900 mark. A resumption of the previous decline could look for support in the
The Canadian government has increased its spending and fiscal deficit to levels not expected by financial analysts, as the country intends to subsidize the housing market.
The chief of Binance Changpeng Zhao has announced that he would plead guilty to breaking US anti-money laundering laws and step down from his position. With the announcement, the US Justice Department is set to finalize its long lasting investigation of Binance.
Reuters has reported that the Chinese state banks have been buying up the Yuan for US Dollars to increase the value of the Chinese currency.
In the aftermath of the firing of the OpenAI CEO Sam Altman, a group of the company's stockholders have started to explore options to sue the board of the company.
The turmoil and outrage that was caused by the OpenAI board firing Sam Altman has forced the ChatGPT makers to rehire the Altman back as CEO.
After the US stock market closed on Tuesday, NVidia published the company's third quarter financial results. In general, the company has beaten expectations. However, concerns regarding future sales in Asia persist. The company was expected to have made earnings per share of $3.367, but the actual earnings were 19.40% higher at $4.02. Meanwhile, the total revenues of the company
After the US stock market closed on Tuesday, NVidia published the company's third quarter financial results. In general, the company has beaten expectations and even increased further outlook. However, concerns regarding future sales in Asia persist.
Reuters has reported that a recent surge in hybrid vehicle sales in China have created a new threat to non-domestic vehicle makers, as Chinese brands have emerged as winners in a recent price war.