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The price of Gold plummeted last week due to the US Federal Reserve rate hike. The rate declined as low as 1,942.50/1,943.40, where it found support. Since the event, the price has managed to break the 50, 100 and 200-hour simple moving averages. At mid-Monday, the commodity had reached above 1,970.00. A continuation of the commodity's recovery could aim
The USD/JPY currency pair has reached the resistance of the 142.70/143.10 range. In addition, it is assumed that the weekly R1 is also acting as resistance. Meanwhile, mid-Monday, support was found in the 142.00 level. A potential decline below 142.00 could look for support in the 141.55/141.90 range, prior to declining to the combined support of the 50, 100
The GBP/USD currency exchange rate has been trading around the 1.2850 mark since mid-Friday. Support is found in the 1.2830/1.2840 range and the 50-hour simple moving average. Resistance is provided by the 1.2870/1.2890 zone, which is strengthened by the weekly simple pivot point at 1.2868 and the 100 and 200-hour simple moving averages. A move above the 1.2890 and 1.2900
The EUR/USD has surged above the 1.1000 mark. On Monday, the pair traded in the 1.1005/1.1045 range. It was observed to be ignoring the 50 and 100-hour simple moving averages, the weekly simple pivot point at 1.1035 and the support and resistance range at 1.1020/1.1040. A potential decline of the rate below 1.1000 might look for support in the support
Reuters has revealed that Tesla has announced new price cuts for Model 3 and Model Y in Hong Kong. The company continues an ongoing price war in the electric vehicle market.
Biogen Incorporated has announced that it would fire nearly 1,000 employees or 11% of the company's workforce, as the company has started a new cost reduction program.
General Electric Company has increased its 2023 full-year profit forecast due to a boom in aviation. The company has reported resilient demand for jet engine parts and airlines services.
Dow Chemical has published a 70% decline in quarterly profits. The company has attributed the decline to lower product prices and weak sales volume. Moreover, the company expects the macroeconomic environment to continue to be challenging.
Mexican authorities have been urging US appeals court to revive a $10 billion lawsuit against US gun manufacturers, which allegedly have facilitated gun trafficking to drug cartels.
General motors has announced that due to declining profits in the second quarter of the year the company would continue its cost cutting campaign.
Dear Dukascopy clients, note that the requirements for equity are bound to change during the weekend. Please, adjust your positions accordingly to avoid unexpected margin calls. Maximum available leverage for the weekends and other market closure days is set to 1:30 (1:60 for accounts with maximum leverage of 1:200). The purpose of this policy is to mitigate risks caused by potential
The Indonesian government is creating a new package of incentives for electric vehicle makers to invest in the country. Moreover, the government has revealed that it is in talks with BYD and Tesla.
Vietnam has revealed plans to increase its raw rare earths production to 2.02 million tonnes per year by 2030.
The Canadian government has created legal framework for the elimination of inefficient fossil fuel subsidies. Canada is set to become the first G20 country to rationalise and phase out fossil fuel sector subsidies.
Taiwan Semiconductors Manufacturing Company has announced plans to invest $2.87 billion in a new advanced facility in the northern part of Taiwan.
The French government had agreed with a 75 food company group for a limit of price increases of 10.00%. However, Nestle and Danone have not complied with the deal by increasing prices for some products up by 36.6%. The companies are expected to be under government scrutiny.
More than 1,500 app developers have sued Apple in the UK over app store fees. The class action lawsuit amounts to a total of $1 billion.
The ECB has just increased its base interest rate from 4.00% up to 4.25%. In addition, the central bank has released its Monetary Policy Statement, which explains the reasoning behind the policy decision. The move follows yesterday's Federal Reserve's 0.25% hike. The central banks have tightened monetary policy in a tandem effort to combat inflation without disrupting currency exchange rates Note
The ECB has just increased its base interest rate from 4.00% up to 4.25%. In addition, the central bank has released its Monetary Policy Statement, which explains the reasoning behind the policy decision.
The owner of Facebook released its quarterly financial results after Wednesday's market close. Good results have caused a surge of the stock price in Thursday's pre-market trading of $25.00 or 8.50%. The company has reported increases of both revenue and costs. However, the end balance reveals an increased net income of 16% and growth of earnings per share of 21%.
The owner of Facebook released its quarterly financial results after Wednesday's market close. Good results have caused a surge of the stock price in Thursday's pre-market trading of $25.00 or 8.50%.
The Federal Reserve hiked just 0.25% that were expected. Moreover, follow up comments by the head of the Federal Reserve have been perceived by the markets as dovish for the USD. Namely, the US Dollar's value and demand for it will not grow due to monetary tightening, as the Fed remains indecisive and "data dependant." The weakness of the US Dollar
The Federal Reserve hiked just 0.25% that were expected. Moreover, follow up comments by the head of the Federal Reserve have been perceived by the markets as dovish for the USD. Namely, the US Dollar's value and demand for it will not grow due to monetary tightening, as the Fed remains indecisive and "data dependant." The decline of USD boosted gold's
The stocks of various Chinese real estate property firms have surged during this week due to the Chinese government pledging domestic economic stimulus.