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Moody's rating agency has revealed information that US banks are holding nearly $3.3 trillion in cash reserves for a potential slowdown of the global economy.
Saudi Arabia and Russia have extended their oil production cuts. Due to this reason oil price benchmarks have extended the summer rally above the 81.20/83.70 range. From a technical perspective the rate found support in the combination of the lower trend line of the summer ascending channel and the 50-day simple moving average. Most recently, the pair passed above
The EUR/JPY currency exchange rate has been finding support in the 50-day simple moving average for all of August. The support of the indicator was enough to push the rate through the June and July high level zone at 157.80/158.00. Meanwhile, the pair remains in two ascending channel patterns. In the case of the pair declining below the 50-day simple
SoftBank Group's Arm has revealed that it aims at an initial public offering value of $52 billion.
Reuters has revealed that the Chinese government is set out to create a new $40 billion fund that would be aimed at boosting the semiconductor industry.
This week, Goldman Sachs reduced its expectations for a recession in the United States in 2024 from 20% down to 15%.
The price for gold has reacted to the surge of the US Dollar by extending its decline. On Tuesday, the commodity price was heading to the 1,925.00 mark. Economic Calendar Analysis Watch the US ISM services PMI release on Wednesday at 14:00 GMT. Besides this release, there are no notable events scheduled that can impact the financial markets. XAU/USD short-term forecast In the
The surge of the US Dollar continues. The USD/JPY currency exchange rate reached above the 147.50 mark and the weekly R1 simple pivot point at mid-day on Tuesday. The two levels appeared to have become support to a potential resumption of the broader surge. Economic Calendar Watch the US ISM services PMI release on Wednesday at 14:00 GMT. Besides this release, there
The broader strength of the US Dollar has resulted in the GBP/USD pair passing below the 1.2548/1.2579 range. However, the event has not been followed by a larger decline of the rate. During Tuesday's European trading hours, the rate fluctuated around the pierced support zone, as if confirming it as resistance before resuming the broader decline. Economic Calendar Watch the US ISM
The 1.0800 mark provided enough resistance to keep the EUR/USD down until the 50-hour simple moving average approached and caused a decline. The rate passed below the 1.0766/1.0771 range. By mid-Tuesday the currency pair was heading to the 1.0700 mark. Note that the 1.0700 level was strengthened by the lower trend line of the channel down pattern. Economic Calendar Analysis Watch the
The price for gold has reacted to the surge of the US Dollar by extending its decline. On Tuesday, the commodity price was heading to the 1,925.00 mark. In the near term future, support might be found in the 1,920.00/1,923.00 range that has previously acted as both support and resistance. Below 1,920.00, take into account the 1,910.25 level and
The surge of the US Dollar continues. The USD/JPY currency exchange rate reached above the 147.50 mark and the weekly R1 simple pivot point at mid-day on Tuesday. The two levels appeared to have become support to a potential resumption of the broader surge. A move of the currency pair higher is expected to encounter resistance in the 148.00 or
The broader strength of the US Dollar has resulted in the GBP/USD pair passing below the 1.2548/1.2579 range. However, the event has not been followed by a larger decline of the rate. During Tuesday's European trading hours, the rate fluctuated around the pierced support zone, as if confirming it as resistance before resuming the broader decline. A resumption of the
The 1.0800 mark provided enough resistance to keep the EUR/USD down until the 50-hour simple moving average approached and caused a decline. The rate passed below the 1.0766/1.0771 range. By mid-Tuesday the currency pair was heading to the 1.0700 mark. Note that the 1.0700 level was strengthened by the lower trend line of the channel down pattern. A potential recovery
The US energy company Chevron has started talks with its LNG facilities in Australia to avert a potential worker strike.
The United States Commerce Secretary Gina Raimondo has recently stated that China should create a fair and predictable playing field for US businesses so that stable commercial relationships could be created.
The Chief Executive Officer of Renault Luca de Meo has revealed that Chinese firms have become more competitive in the electric vehicle segment and European firms should catch up.
In August, Ryanair passenger traffic had reached a new record high, as it has increased by 12%, compared to August of 2022.
Tesla has announced that it would extend the delivery time for Model Y Long Range in China to 6-8 weeks.
The Biden administration has announced that it would offer $12 billion in grants and loans to car producers that would upgrade their plants to manufacture electric vehicles.
The decline of the metal's price has found support in the 100-hour simple moving average. Since finding support, up to mid-Monday, the rate fluctuated near the 1,940.00 level. Economic Calendar Analysis Watch the US ISM services PMI release on Wednesday at 14:00 GMT. Besides this release, there are no notable events scheduled that can impact the financial markets. XAU/USD short-term forecast In the
Reuters poll results have revealed that the markets expect the Reserve Bank of Australia to keep its base interest rate at 4.10%.
The recovery from the 144.50 mark has encountered resistance in the 146.30/146.60 range. Economic Calendar Watch the US ISM services PMI release on Wednesday at 14:00 GMT. Besides this release, there are no notable events scheduled that can impact the financial markets. Hourly Chart If the USD/JPY reaches above the 146.60 level, the rate could be slowed down by the 147.00 mark, before
On Friday, the GBP/USD reacted to the strengthening of the US Dollar, which was caused by the US monthly employment data release. The decline of the pair eventually found support in the 1.2548/1.2579 range and started a recovery. By mid-Monday, the rate had reached the combined resistance of the 50, 100 and 200-hour simple moving averages near 1.2650. Economic Calendar Watch the