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Market Background Following yesterday's FOMC statement by the Federal Reserve, gold prices experienced significant volatility. After the announcement of a 50 basis point rate cut, gold briefly broke above the $2600 level but quickly retraced. The market exhibited marked volatility as investors reacted to the Federal Reserve's policy, reflecting the complexity of...

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The current silver price (XAG/USD) is fluctuating around $28.50. The technical chart shows that silver has experienced a double bottom, indicating a potential reversal signal of the "Double Bottom" pattern, which may suggest a price increase over the coming period. However, based on the moving averages, the market remains in a downtrend. The current key support...

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Based on the impact of recent economic data on the market, it is anticipated that Federal Reserve Chair Jerome Powell might adopt a more dovish policy stance during his speech at Jackson Hole, scheduled for Friday at 10 AM ET. This expectation is primarily driven by increasing signs of weakness in the U.S. labor market, particularly with the recent rise in...

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Market Review Yesterday, GBP/USD exhibited a moderate upward trend, with the closing price rising by 0.18% and the daily volatility reaching 0.57%. The pair continues to hover near the key resistance zone of 1.2845. This upward movement was primarily driven by a series of economic data releases: UK Economic Data: Q2 GDP Annual Growth Rate Revision: The...

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Over the past week, GBP/USD has experienced significant volatility. Since the Bank of Japan decided to raise interest rates, there has been a substantial shift in the market. However, despite their subsequent announcement of a pause in rate hikes, this hasn't entirely calmed market sentiment. The Bank of England's likely decision to keep rates higher for longer,...

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The situation for the Japanese yen is not optimistic, and the Bank of Japan is facing unprecedented challenges. The U.S. Treasury's move to add Japan to its "currency practices monitoring list" carries multiple implications and potential impacts: 1. **Policy Warning and Diplomatic Signal**: Including Japan in the monitoring list, without labeling it or any other...

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Exiting the world’s last negative rates, could the Japanese Yen see a significant reversal? Fundamental Key Points: 1. The Bank of Japan may exit its negative interest rate policy established since February 2016 in the coming months. 2. Given Japan's avoidance of a recession, core inflation rate (excluding food and energy prices) has been continuously above 2%...

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The gold market has experienced significant volatility in recent weeks but ultimately broke through to new highs with a strong bullish stance. This market's trends are influenced by various factors, including US economic data, Federal Reserve policies, and global geopolitical situations. Gold Highlights: Gold prices were relatively stable earlier last week but...

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GBP/USD remains within the narrow range of 1.2600 -- 1.2825, and whether it can break through the 1.2750 level depends on interest rate decisions and forward guidance, while the policy decisions of the Federal Reserve and the Bank of England (BoE) will play a crucial role in whether this narrow range can be breached. The pound is currently one of the...

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Despite current data indicating a slowdown in the US economy, the US CPI (Consumer Price Index) has been lower than expected, both year-over-year and month-over-month: The US CPI for October increased by 3.2% year-over-year, against an expectation of 3.3%. Month-over-month, it remained unchanged at 0.0%, below the expected 0.1% rise, with the previous value at a...

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Due to the difficulties in the British retail industry and market speculation on the Federal Reserve, EIGHTCAP:GBPUSD is blocked near 1.2500. Over the past week, the pound has been hovering around 1.2400. However, it encountered resistance when it broke through the 1.2500 mark. Mainly because UK retail sales were disappointing, falling 0.3% month-on-month,...

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Due to growing concerns about demand and oversupply in 2024. For the first time in four months, oil futures prices moved into contango, but that was short-lived and the price curve returned to the more common backwardation, where spot prices are higher than future delivery prices Contango status is viewed as a negative indicator and is often seen as an early sign...

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Despite failing to extend recent gains, EIGHTCAP:EURUSD EUR/USD hit a new monthly high of 1.0895. EUR/USD broke above the September high of 1.0882 after the US consumer price index fell short of expectations, and as expectations for US interest rate hikes fade, the exchange rate may continue to retrace the August high (1.1065). If the Relative Strength Index...

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In order to achieve its 2% inflation target, at its meeting on November 1, 2023, the Monetary Policy Committee (MPC) of the Bank of England decided by a majority vote of 6-3 to keep the bank rate at 5.25%. Global economic growth remains sluggish, despite stronger-than-expected GDP growth in the United States. Inflationary pressures within developed economies...

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Government bond yields are about to reach the 1% upper limit, and the Bank of Japan may further adjust its YCC policy. Market attention is focused on the actions the Bank of Japan will take regarding the 1% yield cap. On Tuesday of this week, the Asian economic calendar was filled with various important data releases, with the policy meeting of the Bank of Japan...

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Since October 2022, the Japanese yen has depreciated by 0.3% against the US dollar, falling to 150.32, a level never seen before. At Wednesday's close, the exchange rate against the US dollar fell by 0.2% to 150.25. It is well known that 150 is an important level for Japanese authorities, and the Bank of Japan has repeatedly stated that it does not rule out any...

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Since the beginning of the Israel-Palestine conflict, the market has been closely monitoring the situation. Reports suggest that Israel has the financial capacity and GDP to sustain a prolonged conflict of up to eight weeks. Bob Savage, Head of Market Strategy and Insights at BNY Mellon, has warned that "what global markets have not fully priced in is the...

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The recent escalation of conflict between Israel and Palestine began on Saturday when the markets were closed. This may have somewhat mitigated the impact on trading, as the initial concerns about a broader conflict in the Middle East would undoubtedly affect the markets. The week started with a surge in the price of gold, rising by nearly 1% (an increase of $17...