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Gold price rises on weak US economic growth, high US inflation data
Gold prices climb following US Q1 GDP results falling below expectations. Sharp increase in Q1 inflation to 3.7% tempers expectations for immediate Fed rate cuts and underpins higher Treasury yields. Fed officials maintain cautious stance on monetary policy, echoing concerns over persistent inflatio
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New Zealand's annualized Trade Balance declines $-9.87 billion after a rise in MoM Exports
New Zealand's Trade Balance in NZD terms fell $-9.87 billion through the year ended in March, slightly less than the previous YoY period, which declined $-12.06 billion, a slight downside revision from the initial print of $-11.99 billion. New Zealand's Exports rose to a 10-month high of 6.5 billion
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Elliott Wave Analysis on Tesla (TSLA): Is Correction Over?
Short Term Elliott Wave view on Tesla (TSLA) suggests decline from 2.27.2024 high is in progress as a 5 waves impulse lower. Down from 2.27.2024 high, wave 1 ended at 160.51 and rally in wave 2 ended at 184.25. Down from there, wave ((i)) ended at 162.01. Wave ((ii)) rally ended at 170.21 as the 45
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Commodity Currencies Rise As Asian Shares Rebound On Tempered Middle East Fears
Commodity currencies such as Australia, the New Zealand and the Canadian dollars strengthened against their major currencies in the Asian session on Monday amid risk appetite, as fears of a wider conflict in the Middle East ebbed. Investors gravitated back towards riskier assets after Iran played do
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EUR/JPY Price Analysis: Bullish push persists, eyes on waning momentum
Flattening indicators on the daily chart may signal a period of consolidation. The flat RSI slope and falling MACD bars on the hourly chart translate into a neutral sentiment for the session. The EUR/JPY currency pair stands at 164.71, reflecting a persistent bullish upsurge as it cleared daily loss
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Central bank speak and geopolitical issues rock markets
This has been a busy week for financial markets. Central bank speak, geopolitical issues, economic data and earnings reports have all rocked markets, and the vast majority of indices in the US, Europe and Asia are set for another weekly loss. The FTSE 100 is bucking this trend, but as we mentioned,
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Fed's Bowman: Inflation progress slows and possibly halts
Federal Reserve (Fed) Governor Michelle Bowman said Wednesday that inflation progress slows and possibly halts. Bowman further stated that monetary policy is currently restrictive and time will tell if it is "sufficiently" restrictive. Key quotes “Inflation progress slows and possibly halts.” “Stren
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Gold Prices Rise on Powell's Remarks Amid Middle East Tensions
#XAU/USD# At the end of Tuesday's US trading session, the price of gold rose higher by 0.22%, following Federal Reserve Chairman Jerome Powell's hawkish remarks. This provided a favorable momentum for gold's growth amid escalating political tensions between Iran and Israel. Looking at
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