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Preliminary data from CME Group indicates that open interest in crude oil futures markets increased for the fourth consecutive session on Monday, registering a gain of approximately 4.3K contracts. Conversely, trading volume decreased for the third consecutive session, declining by roughly 260.5K contracts. Technical analysis indicates that the crude oil price...

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During the Asian session, gold is showing a decline towards a critical support level of HKEX:1 ,970.00. The price movement is influenced by the US Dollar Index (DXY) recovery, driven by optimistic forecasts that the Federal Reserve (Fed) will raise interest rates by 25 basis points (bps) on Wednesday. The XAU/USD price appears to have broken the lower side of a...

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Early Monday, the EUR/USD reached a new intraday low as the bears targeted the 1.1000 round figures. The US Dollar gained strength due to sluggish market activity caused by holidays in many bourses. Keep an eye on the First Republic bidding results to join in on the hawkish Fed bets that may further pressure the EUR/USD before the crucial monetary policy meetings....

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The GBP/USD currency pair is currently attempting to breach the significant resistance level of 1.2600, despite a notable recovery in the US Dollar Index. The US economy has exhibited robustness in consumer spending on essential goods and services, thereby increasing the likelihood of further interest rate hikes by the Federal Reserve. Conversely, inflationary...

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The EUR/USD pair bounced back from its daily low and regained the 1.1000 level after US data was released. This occurred even though the US core PCE, which is the Federal Reserve's preferred gauge for inflation, showed a rise of 4.6% in March, which is the same as in February. The high inflation in the US is likely to warrant higher rates, thus driving the EUR/USD...

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According to recent developments, the end of the first quarter was weak, and this, coupled with the negative but temporary effect of the public sector strike on Q2 GDP, could potentially increase the risk of a contraction in economic activity during the second quarter. Despite this, the Bank of Canada remains determined to focus on trying to get and keep inflation...

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Alibaba, one of the world's leading e-commerce and cloud computing companies, has a rich corporate history that is sure to capture the attention of many. Founded by the charismatic and unconventional Chinese entrepreneur Jack Ma, the company was able to attract investments from the likes of Yahoo and SoftBank during its early days. However, it wasn't until its...

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Tesla's stock has been on a year-to-date rally, with a 73% increase in 2023. However, despite this growth, the company's stock price is still significantly lower than its all-time high of HKEX:410 achieved in late 2021. The current economic climate, characterized by high levels of inflation and interest rates, is making it challenging for the auto industry to...

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Can you believe it? Meta Platforms stock has risen by over 70% this year, outpacing the S&P 500's 7.5% growth over the same period. At first glance, it might seem like everything is going great for Meta, right? However, the reality is a bit different. In the fourth quarter, Meta reported a 4% decline in year-over-year earnings, and analysts predict that there will...

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Recent market activity indicates that the Bitcoin price experienced liquidity on April 23rd, which could potentially lead to a price increase. However, it is important to note that the price has faced resistance in its efforts to surpass the bearish breaker range of HKEX:29 ,630 to HKEX:30 ,480, and investors should expect the price to remain below the crucial...

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The price of gold (XAU/USD) has rebounded from HKEX:1 ,976.00 to climb above HKEX:1 ,990.00 during the Asian trading session. However, the precious metal experienced a sharp decline on Thursday after House Speaker McCarthy commented that the debt limit cannot pass without budget negotiations, as reported by Bloomberg. Market analysts expected that the potential...

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During early Friday trading, the GBP/JPY currency pair rallied to a fresh yearly high of 168.15 as market bulls celebrated the Bank of Japan's (BoJ) decision to maintain the status quo. The technical breakout and strong UK sentiment data also contributed to the pair's upward momentum. As widely anticipated, the BoJ retained its benchmark interest rates at -0.10%...

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As of today, the AUD/CAD exchange rate has been displaying a consistent bearish trend, characterized by a series of lower highs and lower lows. Notably, on 23 April 2023, the pair reached a high of 0.9100, followed by a subsequent drop in value to its current level of 0.9000. Further analysis reveals that the exchange rate has been trading within a symmetrical...

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The EUR/NZD currency pair has been continuing its upward trend, with the main trend displaying a pattern of making higher highs and higher lows. In the last trading session, the price began a retracement, bringing the current value of the pair to approximately the 61.8% Fibonacci level, and it may potentially reach the 78.6% level. It's possible that during this...

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Since the 23rd of April, the AUD/NZD has remained entrenched in a formidable Bearish trend, which shows no signs of abating. This trend began when the price reached the key level of 1.09200, from which point it has continued to follow a steadfast downtrend trajectory. However, there is a possibility that the price may experience a temporary rebound and recuperate...

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The EUR/USD pair has been on a multi-week rally and has sustained its upward momentum for two consecutive sessions. Currently, the immediate target is set at the 1.1100 round level, and the pair has closed with gains in eight out of the last nine weeks. Since late February, the pair has gained more than 5 cents, which is a notable achievement. Furthermore, the...

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The currency pair GBP/NZD has demonstrated a persistent uptrend, which has been sustained by the Dynamic trendline as a reliable support level. As a result, the price has surged and achieved new highs consistently. Currently, the price level hovers just above the 2.0350 threshold, and there is potential for further growth towards the 2.050 area. However, it is...

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The price of gold is currently encountering difficulties breaking through the psychological resistance level of HKEX:2 ,000.00 during the Asian session. The precious metal experienced a significant upsurge on Tuesday, as investors sought refuge in bullions amidst the resurgence of banking apprehensions. Currently, the price of gold is trading within a sideways...