Article by: ETO Markets
Chinese imports increased by 8.4% year over year in April, above estimates of 5.4%. Furthermore, export growth was 1.5% as opposed to analysts' predicted 1.0% increase. In the midst of worries about possible further US tariffs on Chinese exports, these most recent numbers were a welcome surprise. Though it was somewhat less than predicted at $76.7 billion, the Trade Balance USD climbed to $72.35 billion from March's reading of $58.55 billion.
The Federal Reserve's aggressive statements have bolstered the value of the US dollar. The Federal Reserve Bank of Boston, stressed on Wednesday the significance of a time of slowing in the US economy in order to meet the central bank's 2% inflation objective.
Any prospective shift toward monetary easing will have to wait until 2025, according to the Reserve Bank of New Zealand. The RBNZ justified this position by pointing to greater-than-expected inflation pressures in the first quarter. A judgment along these lines might help the New Zealand Dollar.
The significant over-the-counter market investment, ongoing central bank purchases, and growing demand from Asian customers, especially China and India, were the primary factors driving the expansion in global gold demand. In addition, classic safe-haven assets like gold may see an increase due to the risk-averse climate and the uncertainty surrounding geopolitical tensions in the Middle East.
Recent comments from ECB officials raised the prospect that the ECB will begin its easing program in June, which sparked conjecture about three interest rate reductions for the rest of the year, or 75 basis points. But questions remain about what the central bank will decide to do after the summer.
As the EUR/USD pair moves closer to the 200-HMA around … , EUR/USD keeps moving in the direction of median bids. Early on Wednesday, the pair attracted thin bids, reaching an intraday high of … before the positive impetus faded and the pair ended the day close to ...
A bearish technical rejection is strengthening, as seen by daily candles, and EUR/USD is being driven lower after failing to break above the 200-DMA at ... The pair is vulnerable to a slide to the last swing low into the … handle if the bearish trend continues. The pair's near-term peak is located at ...
Due to investor concerns over the UK's high pace of wage growth, predictions surrounding possible interest rate reduction by the Bank of England have been postponed until September. Core inflation, the preferred inflation gauge of the central bank, is being influenced by this wage growth. From 3.4% in February to 3.2% in March, the annual inflation rate decreased. It did, however, remain somewhat higher than the 3.1% market estimate. Since September 2021, this rate has not been this low.
After failing to break above the 200-DMA, which is currently at … , GBP/USD closed significantly below it earlier in the week. In addition, the 4-hour chart's Relative Strength Index fell near 45, indicating a bearish slant in the short-term technical picture.
The 4-hour chart's 200-SMA is immediately resistance on the downside, with … serving as the first target before … which the latest downtrend's Fibonacci 23.6% retracement is and ...
