Research & Education

Trade Ideas

Market Analysis


Economic Stagnation Pressures NZDUSD

The combination of a negative consumer outlook indicating pessimism and prolonged economic stagnation in New Zealand, paired with a more hawkish than expected Federal Open Market Committee (FOMC) decision, which revealed the Fed's projection of only one interest rate cut for this year, despite the soft US Consumer Price Index (CPI) report, exerted downward pressure on the NZDUSD.

USDJPY Rallying Toward 2024 High

In response to the Federal Open Market Committee's (FOMC) decision to maintain the target range for the federal funds rate at 5-1/4 to 5-1/2 percent, the US Dollar has strengthened, impacting all major currency pairs. Traders are expected to closely monitor the currency market as significant economic data releases and price trends may impact currency valuations.

Investors Remain Cautious Ahead Of Fed's Decision

Gold has bounced back above the key level of 2314.75 after the sharp decline on June 7, ahead of the Fed's decision later today. Despite remaining on a downward trajectory, investors are in a wait-and-see state as they look for a clear direction from the Federal Reserve. Traders will closely monitor the precious metal today due to significant economic data releases and their potential impact on Gold and currency valuations.

GBPUSD Warning For A Bumpy Road Ahead

The Pound Sterling has registered an upward trend according to a convergence of technical indicators. However, the possibility of a consolidation or correction cannot be discounted, given the recent release of The Claimant Count data, which indicates an increase in the number of individuals receiving unemployment benefits from 8,900 to 50400. Additionally, the presence of a negative divergence signals a potential pause in the upward trajectory.

NFP To Shed Light On EURSD Direction

The EUR/USD is eyeing the 1.916 resistance, following the European Central Bank's interest rate cut from 4.50% to 4.25% and higher-than-expected U.S. initial claims, which totaled 229,000 for the week ending June 1.  Traders are expected to keep a close watch on this currency pair due to the upcoming release of significant economic data, including the Non-Farm Payrolls, which could potentially impact currency valuations.

GBPUSD On Upward Trend For the Fourth Consecutive Week

The Pound Sterling has been showing a sustained upward trend for the fourth consecutive week, indicating a positive trajectory characterized by a series of higher highs and higher lows. This trend is occurring in anticipation of the ECB Interest Rate Decision and the release of the Non-Farm Employment Change. Traders are expected to closely monitor the currency pair in light of the forthcoming release of significant economic data that could potentially impact currency valuations.

Mixed PMI Data Spark Discussions About Monetary Policy

The USDJPY currency pair remains on an upward trajectory despite the formation of the recent corrective wave. The mixed PMI data on Monday sparked rumors of a potential interest cut in September as monetary policy poses obstacles to expansion.

Crude Oil Downward Pressure Persists

Crude Oil declined amid worries about lower consumption, geopolitical turbulence, high interest rates, and economic uncertainty.  At the same time, US commercial Crude Oil inventories (excluding those in the Strategic Petroleum Reserve)  decreased by 4.2 million barrels from the previous week.

How Nvidia 10:1 Split Will Affect Investors

Nvidia Corporation, an American technology company based in Santa Clara, California, is a pioneer in accelerated computing and a major manufacturer of high-end graphics processing units (GPUs). For the first quarter that ended April 28, 2024, the company reported revenue of $26.0 billion, which represents an 18% increase from the previous quarter and a remarkable 262% increase from a year ago. Additionally, the company announced a 10-for-1 stock split, scheduled to take effect on July 7, 2024.

EURUSD Bulls Are Back

The EURUSD is on the rise due to recent data indicating a Q1 2024 expansion of the German economy. Additionally, the University of Michigan's consumer sentiment revealed 1-year inflation expectations of 3.3%, down from the preliminary 3.5%. Traders will closely monitor the currency pair this week due to the release of significant economic data that could potentially impact currency valuations.