Forex Market News and Analysis

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Wed, 29 May 2024 21:30:04 GMT

Airfares peak in EU and Asia

It has been reported that due to travellers looking for savings opportunities the prices for airline tickets might have peaked in Europe and Asia.

Wed, 29 May 2024 18:30:04 GMT

Toyota shows new engines

The Toyota Motor Company has showcased new compact engines that can be adapted to various fuels.

Wed, 29 May 2024 16:14:37 GMT

Gold recovery encounters resistance

The recovery of gold stopped at 2,360.00. The level held and caused a decline back to the 2,326.60/2,334.40 range that has acted as support. Economic Calendar Analysis On Thursday, at 12:30 GMT the publication of the United States Preliminary GDP and Unemployment Claims could impact the market via a move of the USD. On Friday, the top event of the week will take

Wed, 29 May 2024 16:09:41 GMT

USD/JPY shows signs of resuming the surge

In general, the pair is still near 157.00. However, a new hihg was booked at midnight to Wednesday at 157.40. In the meantime, during the morning hours of the day, the pair confimred that the 50 and 100-hour simple moving averages are acting as support. Economic Calendar On Thursday, at 12:30 GMT the publication of the United States Preliminary GDP and

Wed, 29 May 2024 15:39:21 GMT

GBP/USD bounced off 1.2800

The 1.2800 level has been reached as expected. It has acted as resistance and the scenario of a decline has been ongoing. At mid-Wednesday, the pair passed below the 200-hour simple moving average and the weekly simple pivot point near 1.2725. Next target was the 1.2700 mark Economic Calendar On Thursday, at 12:30 GMT the publication of the United States Preliminary

Wed, 29 May 2024 15:30:03 GMT

iPhone sales jump in China

Reuters has revealed that Chinese government data shows that in April iPhone sales in China surged by 52%.

Wed, 29 May 2024 15:25:16 GMT

EUR/USD fails to recover

On Monday the pair was once again approaching the 1.0875/1.0885 range. The range held and caused another decline of the pair that on Wednesday reached below the combination of the hourly moving averages and the weekly simple pivot point. Economic Calendar Analysis On Thursday, at 12:30 GMT the publication of the United States Preliminary GDP and Unemployment Claims could impact the market

Wed, 29 May 2024 15:02:30 GMT

Gold is back at support

The recovery of gold stopped at 2,360.00. The level held and caused a decline back to the 2,326.60/2,334.40 range that has acted as support. A recovery of the metal's price has to reach above 50 and 100-hour simple moving averages near 2,350.00 and the 2,360.00 mark. Higher above, the 200-hour SMA might act as resistance near 2,380.00, before teh 2,400.00

Wed, 29 May 2024 14:50:03 GMT

USD/JPY reveals new support

In general, the pair is still near 157.00. However, a new hihg was booked at midnight to Wednesday at 157.40. In the meantime, during the morning hours of the day, the pair confimred that the 50 and 100-hour simple moving averages are acting as support. A resumption of the prior surge of the Dollar against the Yen is set

Wed, 29 May 2024 14:35:07 GMT

GBP/USD bounced off 1.2800

The 1.2800 level has been reached as expected. It has acted as resistance and the scenario of a decline has been ongoing. At mid-Wednesday, the pair passed below the 200-hour simple moving average and the weekly simple pivot point near 1.2725. Next target was the 1.2700 mark If the 1.2700 level fails to hold, support could be looked for in

Wed, 29 May 2024 14:10:59 GMT

EUR/USD bounces off from 1.0875/1.0885

On Monday the pair was once again approaching the 1.0875/1.0885 range. The range held and caused another decline of the pair that on Wednesday reached below the combination of the hourly moving averages and the weekly simple pivot point. If the pair recovers, it might face resistance combination of the 50, 100 and 200-hour simple moving averages and the weekly

Wed, 29 May 2024 12:30:04 GMT

Kashkari wants progress on inflation

The President of the Minneapolis Federal Reserve Bank Neel Kashkari has stated to CNBC that the Fed needs to see more signs of declining inflation before a rate cut.

Wed, 29 May 2024 09:30:04 GMT

Amazon invests in Italy

Reuters has reported that Amazon has been in talks with the Italian government about investing billion in expansion of cloud infrastructure.

Wed, 29 May 2024 06:30:05 GMT

Japanese inflation declines

In April, the inflation measure that is used by the Bank of Japan has declined and reached below the 2.0% measure for the first time since August 2022.

Wed, 29 May 2024 03:30:04 GMT

Japanese net external assets reach record

In 2023, Japan has remained world's top creditor, as its net external assets have reached a new record high level.

Tue, 28 May 2024 21:30:04 GMT

Alibaba recruits Beckham

The online retailer AliExpress has recruited the famous UK football captain David Beckham for a promotional campaign.

Tue, 28 May 2024 18:30:04 GMT

Starbucks loses market share in China

Reuters has reported that Starbucks has been forced to reduce prices in China due to stiff local competition that has been taking the giant's market share.

Tue, 28 May 2024 15:30:04 GMT

Bill Gross comments on bonds and Trump

Bill Gross, the famous bond investor, has been interviewed by Financial Times. Gross has stated that a return of Donald Trump to the US Presidency would reduce the value of bonds.

Tue, 28 May 2024 14:37:57 GMT

US CB Consumer Confidence reveals positive outlook

The Conference Board has published the CB Consumer Confidence reading. The data surprised the markets with a positive reading of 102.00 instead of the expected bad reading of 96.00. US Dollar index reacted to the news by extending an ongoing recovery against peer currencies.

Tue, 28 May 2024 14:05:22 GMT

US CB Consumer Confidence reveals positive outlook

The Conference Board has published the CB Consumer Confidence reading. The data surprised the markets with a positive reading of 102.00 instead of the expected bad reading of 96.00. US Dollar index reacted to the news by extending an ongoing recovery against peer currencies.

Tue, 28 May 2024 12:30:03 GMT

Saudi Aramco plans stock sale

Reuters has reported that Saudi Aramco intends to sell the firm's shares as soon as June.

Tue, 28 May 2024 09:30:04 GMT

German business sentiment stagnates

In May, as shown by business surveys, German business morale remained unchanged, compared to April.

Tue, 28 May 2024 06:30:03 GMT

Japan pushes against Yen bears

At the G7 meeting, the Japanese representatives have confirmed a push against the excessive decline of the value of the Japanese Yen.

Tue, 28 May 2024 03:30:04 GMT

Firm advocates against Musk's pay

A proxy advisor Glass Lewis has advised Tesla shareholders to reject Elon Musk's $56 billion pay package. If approved, the pay would be the largest in US history.

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