Will RBA Maintain Tightening Bias After CPI Miss?

Australian dollar surged 0.9% vs Kiwi dollar in Wednesday’s morning, lifted by fresh hawkish signals that the RBA may opt for a rate hike next month, after Australia’s inflation rose above expectations and hit new multi-month high in May. A full-figure rise broke through three Fibo barriers (38.2%; 50% and 61.8% retracement of 1.1030/1.0732 downtrend) […]

Key Highlights Gold prices are struggling to recover above the $2,040 resistance. A key bearish trend line is forming with resistance near $2,040 on the 4-hour chart. Bitcoin price declined heavily and traded below $40,000. The US Manufacturing PMI could remain at 47.9 in Jan 2023 (Preliminary). Gold Price Technical Analysis Gold found support near […]

The British pound is slightly lower on Friday. GBP/USD is trading at 1.2636 early in the North American session, down 0.17% on the day. UK retail sales hit 4-month high UK retail sales jumped 2.9% m/m in May, an impressive turnaround from the revised 1.8% decline in April and blowing past the market estimate of […]