Indian rupee hits record low as Iran war sparks oil supply shock

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2024.05.24 2024.05.24 XAUUSD: Elliott wave analysis and forecast for 24.05.24 – 31.05.24 Alex Geutahttps://www.litefinance.org/blog/authors/alex-geuta/ Main scenario: consider long positions from corrections above the level of 2277.15 with a target of 2500.00 – 2560.00. Alternative scenario: breakout and consolidation below the level of 2277.15 will allow the pair to continue declining to the levels of 2154.83…

The New Zealand dollar has surged on Friday. In the European session, NZD/USD is trading at 0.5950, up 0.90% on the day. New Zealand retail sales blow past estimate New Zealand ended the week on a high note, as retail sales climbed 0.8% q/q in the first quarter. This crushed the market estimate of 0.1%…

On 15 December, we highlighted that USD/JPY was sliding towards a key support area near the lower boundary of its ascending channel. Since then (as shown by the arrow), the pair has reversed higher, gaining around 1.5% and moving close to an important high set last month. Notably, the advance has occurred despite two bearish…

Gold sees significant sell-off on developments in the Middle East. Markets viewed Scott Bessent’s appointment as Treasury Secretary positively. Possible ceasefire between Israel and Lebanon keeps Gold heavy. Gold price (XAU/USD) plummeted during Monday’s North American session as news from a ceasefire between Lebanon and Israel crossed the wires, exacerbating appetite for riskier assets. This,…

Gold prices are under pressure at the start of the week due to market caution surrounding rising tariffs, recessionary fears, and geopolitical uncertainty. US CPI data is expected later in the week, with potential for higher inflation to further impact market sentiment. Technical analysis indicates mixed signals for gold (XAU/USD), with a current downtrend on…