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FxWirePro: AUD/ USD consolidates around 0.6745 ,good to buy on dips

Aug 21, 2024 04:21 am UTC| Technicals

AUD/ USD steadied on Wednesday as traders sold the greenback ahead of expected downward revisions to U.S. jobs data. Later on Wednesday, preliminary revisions to U.S. labor data are set to be released, with a...

FxWirePro: EUR/AUD pauses decline, downside risk remains

Aug 20, 2024 21:42 pm UTC| Technicals

EUR/AUD edged higher, but the gains were limited as investors took the opportunity to book profits following a three-day decline. Focus is now shifting to Federal Reserve Chairman Jerome Powell, who is set to speak at...

FxWirePro:GBP/AUD downtrend loses steam but outlook still bearish

Aug 20, 2024 20:54 pm UTC| Technicals

GBP/AUD remained within a narrow range on Tuesday as investors focused on the upcoming purchasing managers index (PMI) numbers from the UK. The upcoming flash PMI survey data for August will offer crucial insights into...

FxWirePro:GBP/NZD outlook weaker on renewed downside pressure

Aug 20, 2024 20:02 pm UTC| Technicals

GBP/NZD declined on Tuesday as the New Zealand dollar gained strength on encouraging trade data from New Zealand. New Zealands trade deficit decreased to NZ$0.963 billion, an improvement from the NZ$1.174 billion...

FxWirePro: EUR/USD rises to 8-month high, outlook strongly bullish

Aug 20, 2024 17:13 pm UTC| Technicals

EUR/USD hit 8-month high on Tuesday, climbing above the psychological 1.1100 level as dollar weakness intensified. The Feds decision could influence whether EUR/USD continues to rally. If Fed Chair Jerome Powell adopts...

FxWirePro: GBP/USD hits a one-month high, scope for further upside

Aug 20, 2024 16:48 pm UTC| Technicals

GBP/USD rose to hit a one-month high on Tuesday as sharp gains were driven by weaker dollar. Investors are paying close attention to Fed Chair Jerome Powells speech at the Jackson Hole economic symposium in Wyoming...

FxWirePro: USD/ CAD recovers slightly but trend is still bearish

Aug 20, 2024 16:28 pm UTC| Technicals

USD/ CAD initially dipped but recovered some ground as investors digested Canada inflation data. Canadas annual inflation rate fell to 2.5% in July from 2.7% in June, according to Statistics Canada. This matched the...

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Economy

Goldman Sachs, ANZ Cut Oil Forecasts Amid U.S.-Iran Ceasefire Hopes

Brent crude oil prices have tumbled more than 11% this week after the United States and Iran agreed to a two-week ceasefire, raising hopes that the Strait of Hormuz one of the worlds most critical oil shipping lanes ...

Bank of Japan Governor Signals Accommodative Stance Amid Negative Real Rates

Bank of Japan Governor Kazuo Ueda reaffirmed on Thursday that Japans real interest rates remain firmly in negative territory, signaling that the countrys financial conditions continue to support economic growth. His...

Japan Consumer Confidence Drops Sharply Amid Rising Fuel Costs and Middle East Tensions

Japans consumer confidence took a significant hit in March, declining for the first time in three months as escalating fuel costs linked to the ongoing Middle East conflict continued to weigh heavily on the countrys...

China Set to Exit Deflation Cycle in Early 2026, ANZ Analysts Say

China may be closer to ending its prolonged deflationary period than financial markets currently anticipate, according to a recent note from ANZ analysts. The bank projects that three key price indicators the producer...

Asian Currencies Hold Steady as Middle East Ceasefire Doubts Weigh on Markets

Asian currencies showed little movement on Thursday following strong gains in the prior session, as investor caution mounted over the stability of a U.S.-Iran ceasefire deal amid escalating Middle East tensions. The U.S....

Politics

Trump Warns Iran: No Deal Means Military Action as U.S. Forces Hold Position

President Donald Trump escalated tensions with Iran on Wednesday, declaring that all U.S. military assets including ships, aircraft, and personnel would remain stationed in the region until a formal agreement with Tehran...

U.S. Pushes for Crypto Regulation to Keep Digital Asset Growth at Home

Treasury Secretary Scott Bessent is calling on Congress to pass landmark federal cryptocurrency legislation, warning that regulatory uncertainty is pushing blockchain innovation and investment out of the United States. In...

North Korea Tests Advanced Cluster Bombs, Electromagnetic Weapons in Latest Military Display

North Korea has conducted a series of weapons tests this week, showcasing cutting-edge military technology including cluster-bomb warheads, electromagnetic weapons, and carbon-fibre bombs, according to state media outlet...

Trump Pardon Clears Juan Orlando Hernández as U.S. Court Dismisses Drug Conviction Appeal

A U.S. federal appeals court has dismissed the case against former Honduran President Juan Orlando Hernández, vacating his prior conviction following a presidential pardon granted by Donald Trump in December. The...

Taiwan Defense Budget: U.S. Senator Urges Legislature to Pass Spending Plan

Republican Senator Jim Banks visited Taipei and delivered a direct message to Taiwans President Lai Ching-te: the islands parliament must stop stalling and approve a proposed special defense budget. Banks, a member of the...

Science

China vs. NASA: The New Moon Race and What's at Stake by 2030

The space race is back and this time, its a direct competition between the United States and China for dominance on the lunar surface. NASAs Artemis II mission recently made history when four astronauts flew farther into...

NASA Artemis II: First Crewed Moon Mission Since Apollo Takes Four Astronauts on 10-Day Lunar Journey

NASAs Artemis II mission launched Wednesday, marking humanitys return to crewed lunar exploration for the first time since the Apollo era. Carrying four astronauts aboard the Orion spacecraft, this historic 10-day mission...

NASA's Artemis II Mission: First Crewed Lunar Journey Since Apollo

NASA's Artemis II Crew Arrives in Florida for Historic Moon Mission

The four astronauts chosen for NASAs Artemis II mission have touched down at Kennedy Space Center in Florida, marking the beginning of final launch preparations for the first crewed lunar journey in over 50 years. NASA...

SpaceX Pivots Toward Moon City as Musk Reframes Long-Term Space Vision

SpaceX CEO Elon Musk has revealed a significant shift in the companys near-term space exploration strategy, announcing that SpaceX is now prioritizing the development of a self-growing city on the Moon rather than focusing...

Technology

Bank of America Identifies Top Asia-Pacific Semiconductor Stocks Poised for AI-Driven Growth

Bank of America has spotlighted a select group of Asia-Pacific semiconductor companies well-positioned to ride the wave of surging artificial intelligence chip demand, with Taiwan Semiconductor Manufacturing Company...

China's AI Stocks Surge as Zhipu and MiniMax Hit Record Highs

Chinese artificial intelligence stocks continued their remarkable rally on Thursday, with Zhipu AI and MiniMax Group posting strong gains in Hong Kong trading as a wave of new model launches and product announcements...

Bendigo and Adelaide Bank Posts Strong Q3 Earnings, Announces AI-Driven Job Cuts

Bendigo and Adelaide Bank delivered an impressive financial performance in its third quarter, reporting a 12.8% surge in cash earnings to A$137.9 million for the three months ending March 31. The result came in roughly 12%...

Alibaba Shares Slide as Jefferies Slashes Price Target Over AI Spending and Business Losses

Alibabas Hong Kong-listed shares (HK:9988) dropped 2.9% to HK$122.70 on Thursday, emerging as one of the heaviest drags on the Hang Seng Index, which closed 0.6% lower. The selloff came after investment bank Jefferies...

Anthropic Fights Pentagon Blacklisting in Dual Federal Court Battles

A federal appeals court in Washington, D.C., has refused to halt the Pentagons national security blacklisting of AI company Anthropic, delivering a temporary win for the Trump administration. The ruling comes as another...