May 9 2023 🕓 3 min
AUD/USD dips as crucial resistance holds – will bulls break it?
The major resistance at 0.68 is limiting the Aussie's gains, but it looks like we could see a breakout in the near future.
Market Movers
May 12 2023
NZD weakens on all fronts
The New Zealand dollar (NZD) fell on all fronts on Friday. NZD/USD is down 1.4% and NZD/JPY dropped 1.2%, while GBP/NZD is up 1.3%.
May 12 2023
Inflation levels update
The annual inflation rate in India dropped from 5.6% in March to 4.7% in April. Brazil’s inflation fell from 4.6% to 4.1%. However, inflation in Spain accelerated from 3.3% to 4.1%, and France’s inflation jumped from 5.7% to 5.9%.
May 12 2023
Mark Cuban praises AI
The potential of AI, according to Mark Cuban, is “beyond anything I’ve ever seen,” and he compared ChatGPT to the early days of the internet. Cuban has a straightforward piece of advice for businesses: join the AI race or perish. Cuban stated, “There are two types of companies in the world: those who are great at AI and everyone else.”
May 25 2022 🕓 3 min
NZD/USD erases initial gains after RBNZ hikes rates
This morning, the Reserve Bank of New Zealand raised rates by 50 basis points to 2.0 %, strengthening the Kiwi in the initial reaction.
May 24 2022 🕓 3 min
GBP/USD fails at 1.26 again
Bulls retreated quickly as the UK's services sector deteriorated notably.
May 20 2022 🕓 2 min
The US economy may grow more than China’s this year
China's economy is expected to grow by only 2% this year, while the US gross domestic product is expected to grow by 2.8% this year.
May 19 2022 🕓 3 min
AUD/JPY erases today’s gains, trades flat
Volatility continues to be elevated, but it looks like AUD/JPY might continue higher in the near future.
May 18 2022 🕓 3 min
GBP/USD drops below 1.24 after inflation numbers
This week, the UK's unemployment rate fell to a 48 year low of 3.7% in the first quarter of the year, while inflation accelerated to a 9% annual rate in April.
May 17 2022 🕓 3 min
AUD/USD soars above key resistance after RBA minutes
The Australian dollar has been supported today by the Reserve Bank of Australia's minutes from its May monetary policy meeting, which indicated that a more significant interest rate rise in June is still feasible.
May 12 2022 🕓 3 min
GBP/JPY craters toward 200-day average
This was a bad day for the GBP as the price fell below a critical support and the medium term outlook now changed to bearish.
May 12 2022 🕓 3 min
The Philippines is the fastest growing economy in East Asia
The Philippine economy grew faster than expected in the Q1, raising expectations of an interest rate hike to curb rising inflation.
May 11 2022 🕓 3 min
NZD/USD recovers slightly but remains bearish
This week, the NZD has been under pressure as investors fret over the global growth outlook and the Federal Reserve's next move.
May 10 2022 🕓 3 min
GBP/USD fails to stage a corrective rally, remains subdued
The positive sentiment failed to last, with US investors quickly selling today's rallies in risk assets.
May 9 2022 🕓 3 min
AUD/USD drops to 4-mth lows, tests 0.70
The Aussie has been pressured by a decline in industrial metals, which have been falling on concerns about global economic growth.
May 6 2022 🕓 3 min
USD/JPY recovers from FOMC induced losses
The USD has managed to quickly erase yesterday's decline as the bull market remains intact.