Market Overview - Page 29

The US dollar rebounded to 50-day MA but remains on a long-term decline.

Gold experienced a downturn but rebounded after being bought back during an intraday dip. The price increased, testing a downward resistance line with potential for growth.

The Reserve Bank of New Zealand cuts key rate by 25 basis points to 3.25% to stimulate economic recovery. Bullish news supports New Zealand dollar against US dollar despite interest rate spread.

Market Picture Market capitalisation has risen 0.5% in the last 24 hours to $3.44 trillion, but that’s below Tuesday’s intraday peaks of $3.49 trillion and last Friday’s highs of $3.54 trillion. This is an interesting development given the risk appetite.

Preliminary data shows a smaller drop in US durable goods orders than expected, mainly due to the transport sector. Concerns arise over potential stagnation or contraction in the economy.

Japan's high debt burden may lead to a reversal in monetary policy to support the bond market and exports. The USDJPY pair is seen to have retreated from long-term support at 140, with the potential to rise to 160 or higher.

The EU tariff shift led to a bounce in the S&P500 off its 200-day MA after US President delayed imposing tariffs, pushing the index towards potential historical highs.

US drilling activity declines due to low oil prices, with rig count dropping to its lowest level in late 2021. Meanwhile, OPEC plans to increase production, affecting oil prices negatively.

It’s been a wild week in the markets. U.S. stocks are sliding, the dollar’s under pressure, and Bitcoin just hit a new record. What’s behind the chaos?

The US dollar faces increasing risks due to trade wars, credit rating downgrade, fiscal problems, and tariffs threats, leading to a decline in confidence and value.

Strong retail sector data and accelerating consumer inflation in Britain limit room for Bank of England rate cuts. This news boosts the pound, hitting 39-month highs, supported by strong retail sales figures exceeding expectations.

EURUSD is seeing a tactical retreat towards 1.13 after a rapid rise. The 1.12-1.15 area is a key pivot, with a longer-term uptrend targeting 1.20-1.25.