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3 10, 2024

Coffee prices on the boil as natural disasters decimate crops

By |2024-10-03T15:19:33+03:00October 3, 2024|Forex News, News|0 Comments


Europe’s coffee lovers are bracing themselves for higher prices as natural disasters hit the world’s top two coffee-producing countries.

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Droughts in Brazil, the world’s largest coffee producer, and severe typhoons in Vietnam, the second-largest, have significantly disrupted global coffee supply chains, driving up production costs that are bubbling their way through to consumers.  

As one of the world’s largest coffee-drinking regions, Europe’s coffee lovers will find price hikes particularly hard to swallow. Europeans consume approximately 3.2 million metric tons of coffee a year, accounting for almost 33% of the world’s total coffee consumption, according to German consumer data company Statista.

Natural disasters have wreaked havoc

Brazil, responsible for around 40% of the world’s coffee production, has been grappling with one of its worst droughts in decades. The dry conditions have severely affected its arabica coffee-growing regions and reduced yields.

The 2023-2024 crop cycle has already seen a steep drop in production, some estimates suggest output could fall by as much as one-fifth (20%). 

The impact is being felt most acutely in Minas Gerais, Brazil’s largest coffee-producing state and the home of the high quality arabica bean, which has experienced months of below-average rainfall.

While Brazil dominates the arabica market, Vietnam is the world’s leading producer of the cheaper robusta bean – used in instant coffee. Earlier this month, the country’s key coffee-growing regions in the Central Highlands were decimated by Typhoon Yagi, which killed at least 60 people and left hundreds injured. 

Early assessments suggest thousands of hectares of coffee plantations were affected, with significant losses to both the current harvest and future production potential, as damaged trees will take years to recover. 

Perfect storm of challenges drive prices to a 10-year high

The combined effects of Brazil’s drought and Vietnam’s typhoon have triggered a sharp increase in global coffee prices. The International Coffee Organization (ICO), the intergovernmental body made up of coffee exporting and importing countries, reported that prices surged by nearly 20% in the third quarter of 2024, reaching their highest levels in almost a decade. 

Katharina Erfort, from international supply chain management company Inverto is gloomy about the prospect of a return to normal prices any time soon. Speaking to Euronews Business she said: “A quick recovery for the coffee sector is unlikely, even with potential improvements in supply. 

“The ongoing effects of climate change make a swift return to stability difficult. The sector remains vulnerable to extreme weather patterns that can continue to disrupt future harvests. Additionally, rising global demand, particularly in emerging markets like Asia, may continue to put upward pressure on prices, further slowing recovery efforts.”

Arabica coffee futures, traded on the Intercontinental Exchange (ICE), have risen dramatically, with prices now hovering above $2.50 (€2.25) per pound – up from $1.80 (€1.62) earlier in the year. Robusta prices have followed a similar trajectory, climbing by around 25% to reach more than $2,000 (€1,796) per metric ton.

The sharp price increases have sent shockwaves through the global coffee market. Coffee traders are facing heightened volatility, with concerns growing that continued weather-related disruptions and the cost of rebuilding after the natural disasters could push prices even higher. 

Agri-commodities analyst at Rabobank, Carlos Mera told Bloomberg that this crisis is compounded by logistical challenges, such as port congestion and a global shortage of shipping containers, which are hampering the movement of coffee worldwide.

Europe’s love affair with coffee is being tested

The effects of rising costs are particularly pronounced in Europe. In Germany, Europe’s largest coffee market, retail prices for ground coffee and coffee beans have risen by an average of 10% since 2022, according to Statista.

A survey by the Brussels based European Coffee Federation (ECF) found that nearly 65% of cafes in Europe have raised their prices by between 5% and 15% since the start of 2023. Researchers noted that increases were likely to be driven by a range of factors beyond the cost of coffee beans, as inflation had driven up the price of other essentials such as milk, sugar, and disposable cups.

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As the world’s big two coffee producers struggle to recover from their respective crises, the outlook for the global coffee market remains uncertain.

Climate change is reducing the availability of land on which coffee crops can thrive, and extreme weather events are increasing, creating a perfect storm of challenges for the sector and Europe’s coffee lovers.



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3 10, 2024

New Tea Drinking Tea Base Stilettos Market Poised to Reach USD 3.2

By |2024-10-03T14:29:22+03:00October 3, 2024|Dietary Supplements News, News|0 Comments


New Tea Drinking Tea Base Stilettos Market

Market Overview

New Tea Drinking Tea Base Market Size was estimated at 1.81 (USD Billion) in 2023. The New Tea Drinking Tea Base Market Industry is expected to grow from 1.92(USD Billion) in 2024 to 3.2 (USD Billion) by 2032. The New Tea Drinking Tea Base Market CAGR (growth rate) is expected to be around 6.57% during the forecast period (2024 – 2032).

The tea base market has evolved from a traditional beverage to a category driven by health-conscious trends. Consumers increasingly demand teas rich in antioxidants, vitamins, and adaptogens, which boost immune health and support stress relief. Functional teas containing added ingredients like matcha, turmeric, and positioning the tea base market as a key player in the wellness sector.

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Competitive Landscape

Key players in the tea base market, such as Unilever, Tata Tea, and Nestlé, are competing to capture market share by launching new products and expanding their distribution channels. Brands are focusing on sustainability, organic farming, and innovative packaging to attract environmentally conscious consumers. Companies like Harney & Sons and Bigelow Tea are gaining momentum due to their focus on premium and specialty tea blends. Moreover, small, artisanal tea producers are creating niche products catering to the demand for high-quality, locally sourced, and exotic ingredients.

Technological advancements in the production and packaging of tea bases are also allowing companies to offer unique and longer-lasting products, including ready-to-drink (RTD) teas and concentrated liquid tea bases. Additionally, the rise of e-commerce is facilitating direct-to-consumer sales, with brands utilizing online platforms to expand their reach.

Key Players are:

Beneo ,Symrise ,Archer Daniels Midland ,Univar Solutions ,Tereos ,Ingredion ,Tate & Lyle ,A&B Ingredients ,Givaudan ,Cargill ,Sensient Technologies Corporation ,Kerry Group

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Segmentation

The New Tea Drinking Tea Base Market can be segmented into the following categories:

Product Type:

Traditional tea bases (black, green, white, oolong)

Herbal tea bases (chamomile, rooibos, mint)

Functional tea bases (matcha, turmeric)

Specialty blends (floral, fruit-infused)

Form:

Loose-leaf tea

Tea bags

Liquid concentrates

Ready-to-drink (RTD) teas

Distribution Channel:

Supermarkets/Hypermarkets

Specialty stores

Online retail

Cafes and restaurants

End User:

Residential

Commercial (cafes, restaurants, hotels)

Regional Analysis

The tea base market is witnessing strong growth across various regions:

Asia-Pacific remains the largest tea producer and consumer, with countries like China, India, and Japan driving market demand. Green and herbal teas, alongside traditional favorites, are popular in this region. Japan, in particular, has a growing demand for matcha and other powdered tea bases, which are integral to its cultural traditions.

North America is expected to witness robust growth due to increasing awareness of tea’s health benefits. The U.S. and Canada are seeing rising demand for organic, functional teas and RTD tea products. Consumers are shifting from sugary soft drinks to healthier alternatives like tea-based beverages.

Europe has a rich tea culture, particularly in the UK and Germany. There is an expanding market for herbal and wellness-oriented teas, driven by a desire for natural, caffeine-free options.

Latin America and the Middle East are emerging markets, where health trends and rising disposable income are driving the adoption of premium tea products. In particular, Middle Eastern countries have a deep-rooted tea culture that continues to evolve, with a growing interest in herbal and functional blends.

Key Questions Answered in this Report

What are the challenges to market growth?

Who are the key vendors in this market space?

What will the market size be in 2024-2032 and what will the growth rate be?

What are the key market trends? What is driving this market?

What are the market opportunities and threats faced by the key vendors?

What are the strengths and weaknesses of the key vendors?

Table of Contents :

Section I : Industry Overview

Section II: Scoping, Methodology And Market Structure

Section Iii: Qualitative Analysis

Section IV: Quantitative Analysis

Section V: Competitive Analysis …

Grab More Report:

Instant Powdered Goat Milk Market : https://www.wiseguyreports.com/reports/instant-powdered-goat-milk-market

Green Pepper Sauce Market : https://www.wiseguyreports.com/reports/green-pepper-sauce-market

Food Coagulators Market : https://www.wiseguyreports.com/reports/food-coagulators-market

Ready To Drink Coffee Creamer Market : https://www.wiseguyreports.com/reports/ready-to-drink-coffee-creamer-market

Baby Fruit Mud Market : https://www.wiseguyreports.com/reports/baby-fruit-mud-market

Natural Clean Label Emulsifier Market : https://www.wiseguyreports.com/reports/natural-clean-label-emulsifier-market

Dry Feed Flavor Market : https://www.wiseguyreports.com/reports/dry-feed-flavor-market

Ready To Cook Prefabricated Dishes Market : https://www.wiseguyreports.com/reports/ready-to-cook-prefabricated-dishes-market

Organic Raw Chocolate Market : https://www.wiseguyreports.com/reports/organic-raw-chocolate-market

Sugar Cream Flavor Mixes Market : https://www.wiseguyreports.com/reports/sugar-cream-flavor-mixes-market

Extra Fine Sugar Market : https://www.wiseguyreports.com/reports/extra-fine-sugar-market

Soy Protein Powder Soy Peptide Powder Market : https://www.wiseguyreports.com/reports/soy-protein-powder-soy-peptide-powder-market

Liquid Soy Protein Market : https://www.wiseguyreports.com/reports/liquid-soy-protein-market

Offline Recipe Box Service Market : https://www.wiseguyreports.com/reports/offline-recipe-box-service-market

Gluten Free Chocolate Sauce Market : https://www.wiseguyreports.com/reports/gluten-free-chocolate-sauce-market

Ready To Eat Veggies Market : https://www.wiseguyreports.com/reports/ready-to-eat-veggies-market

Dairy Free Coconut Cream Market : https://www.wiseguyreports.com/reports/dairy-free-coconut-cream-market

Collagen Sparkling Water Market : https://www.wiseguyreports.com/reports/collagen-sparkling-water-market

Extra Coarse Salt Market : https://www.wiseguyreports.com/reports/extra-coarse-salt-market

Candy Hyaluronic Acid Market : https://www.wiseguyreports.com/reports/candy-hyaluronic-acid-market

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Wise Guy Reports is pleased to introduce itself as a leading provider of insightful market research solutions that adapt to the ever-changing demands of businesses around the globe. By offering comprehensive market intelligence, our company enables corporate organizations to make informed choices, drive growth, and stay ahead in competitive markets.

Integrity and ethical conduct are at the core of everything dI within Wise Guy Reports. We ensure transparency, fairness, and integrity in all aspects of our business operations, including interactions with clients, partners, and stakeholders, by abiding by the highest ethical standards.

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Office No. 528, Amanora Chambers Pune – 411028 Maharashtra, India 411028

Sales +91 20 6912 2998

This release was published on openPR.



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3 10, 2024

Euro could test 1.1000 unless risk mood improves

By |2024-10-03T13:43:55+03:00October 3, 2024|Forex News, News|0 Comments

  • EUR/USD struggles to gain traction after closing in the red on Wednesday.
  • The near-term technical outlook points to a lack of buyer interest.
  • The weekly Initial Jobless Claims and September ISM Services PMI data could drive the pair’s action.

Following Tuesday’s sharp decline, EUR/USD continued to stretch lower and closed in negative territory on Wednesday. The pair extended its slide in the Asian session on Thursday and touched its lowest level in three weeks below 1.1030 before staging a modest rebound toward 1.1050 in the European morning.

Euro PRICE This week

The table below shows the percentage change of Euro (EUR) against listed major currencies this week. Euro was the weakest against the US Dollar.

  USD EUR GBP JPY CAD AUD NZD CHF
USD   1.15% 2.04% 3.08% 0.10% 0.74% 1.79% 1.16%
EUR -1.15%   0.88% 1.93% -1.02% -0.36% 0.66% 0.09%
GBP -2.04% -0.88%   1.15% -1.88% -1.22% -0.22% -0.78%
JPY -3.08% -1.93% -1.15%   -2.85% -2.33% -1.24% -1.82%
CAD -0.10% 1.02% 1.88% 2.85%   0.69% 1.69% 1.12%
AUD -0.74% 0.36% 1.22% 2.33% -0.69%   1.01% 0.43%
NZD -1.79% -0.66% 0.22% 1.24% -1.69% -1.01%   -0.59%
CHF -1.16% -0.09% 0.78% 1.82% -1.12% -0.43% 0.59%  

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).

The risk-averse market atmosphere and the upbeat private sector employment data from the US helped the US Dollar (USD) hold its ground midweek and didn’t allow EUR/USD to gain traction. 

Meanwhile, cautious comments from European Central Bank (ECB) officials put additional weight on the Euro’s shoulders. ECB Vice President Luis de Guindos said that risks to Eurozone growth remains tilted to the downside and ECB board member Isabel Schnabel noted that they cannot ignore headwinds to growth, adding that a return to the ECB’s 2% inflation target in a timely manner is becoming more likely.

In the early American session, the weekly Initial Jobless data will be featured in the US economic calendar. Markets expect the number of first-time applications for unemployment benefits to come in at 220,000 in the week ending September 28. Ahead of Friday’s critical Nonfarm Payrolls data, a reading close to 200,000 in the weekly Initial Jobless Claims could help the USD gather strength with the immediate reaction.

Later in the day, investors will scrutinize the ISM Services PMI data for September. An unexpected drop below 50 could revive concerns over an economic downturn in the US and make it difficult for the USD to outperform its rivals.

Market participants will also keep a close eye on the risk perception. US stock index futures trade in negative territory in the European session. EUR/USD could stay under bearish pressure if risk-off flows dominate the action in the second half of the day.

EUR/USD Technical Analysis

EUR/USD was last seen trading near 1.1040, where the Fibonacci 38.2% retracement of the latest uptrend is located. In case the pair fails to stabilize above this level, technical sellers could remain interested. On the downside, 1.1000 (Fibonacci 50% retracement) could be seen as next support before 1.0940 (Fibonacci 61.8% retracement).

If EUR/USD manages to reclaim 1.1040, next strong resistance could be seen at 1.1100, where the 100-period and the 200-period Simple Moving Averages (SMA) meet the Fibonacci 23.6% retracement, ahead of 1.1150 (static level).

Euro FAQs

The Euro is the currency for the 19 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a day. EUR/USD is the most heavily traded currency pair in the world, accounting for an estimated 30% off all transactions, followed by EUR/JPY (4%), EUR/GBP (3%) and EUR/AUD (2%).

The European Central Bank (ECB) in Frankfurt, Germany, is the reserve bank for the Eurozone. The ECB sets interest rates and manages monetary policy. The ECB’s primary mandate is to maintain price stability, which means either controlling inflation or stimulating growth. Its primary tool is the raising or lowering of interest rates. Relatively high interest rates – or the expectation of higher rates – will usually benefit the Euro and vice versa. The ECB Governing Council makes monetary policy decisions at meetings held eight times a year. Decisions are made by heads of the Eurozone national banks and six permanent members, including the President of the ECB, Christine Lagarde.

Eurozone inflation data, measured by the Harmonized Index of Consumer Prices (HICP), is an important econometric for the Euro. If inflation rises more than expected, especially if above the ECB’s 2% target, it obliges the ECB to raise interest rates to bring it back under control. Relatively high interest rates compared to its counterparts will usually benefit the Euro, as it makes the region more attractive as a place for global investors to park their money.

Data releases gauge the health of the economy and can impact on the Euro. Indicators such as GDP, Manufacturing and Services PMIs, employment, and consumer sentiment surveys can all influence the direction of the single currency. A strong economy is good for the Euro. Not only does it attract more foreign investment but it may encourage the ECB to put up interest rates, which will directly strengthen the Euro. Otherwise, if economic data is weak, the Euro is likely to fall. Economic data for the four largest economies in the euro area (Germany, France, Italy and Spain) are especially significant, as they account for 75% of the Eurozone’s economy.

Another significant data release for the Euro is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period. If a country produces highly sought after exports then its currency will gain in value purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.

 

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3 10, 2024

Why XRP Price Fell By 15% Today After Breakout Attempt?

By |2024-10-03T13:42:18+03:00October 3, 2024|Crypto News, News|0 Comments

XRP price has noted a sharp decline today, declining more than 15%, after a recent breakout attempt. This price slump has sparked discussions in the digital assets space, especially amid a downturn momentum noted in the broader crypto market. Notably, the market was anticipating a “Uptober” rally, while the recent picture suggests otherwise, fueling speculations in the sector.

So, here we explore the potential reasons that may have caused the recent drop in Ripple’s native crypto today.

Why Is XRP Price Falling Today?

There could be several reasons that could have contributed to the recent slump in XRP price. Let’s take a look at the top reasons that may have triggered the recent selloff in the crypto, and see how it is performing now.

US SEC Files Appeal Notice In Ripple Case

The Ripple Vs SEC lawsuit has been one of the high-profile and closely watched legal battles in the crypto industry. Notably, in the latest development, the US SEC has filed a Notice of Appeal challenging some aspects of Judge Torres’s ruling just before the October 7 deadline.

Meanwhile, many in the crypto community were anticipating a potential last-minute appeal by the SEC in the Ripple case. However, this latest appeal seems to have dampened the market sentiment, indicating that the legal battle will be further extended in the coming days.

Simultaneously, Ripple CLO Stuart Alderoty recently said that the firm is considering a potential cross-appeal in the case. Having said that, the investors appear to be staying on the sideline, seeking more clarity on the future of Ripple SEC battle.

Broader Crypto Market Downturn

Another potential reason behind the recent drop in XRP price could be the gloomy trading scenario noted in the broader crypto market. During writing, the global crypto market cap fell nearly 4%, with Bitcoin, Ethereum, Solana, and other top altcoins declining.

This recent crypto market selloff could be attributed to a flurry of reasons like the recent Bitcoin ETF outflow and other macroeconomic factors. For instance, the latest US PMI data showed that the economy is shrinking, which might have sparked the investors’ concerns.

On the other hand, the market is likely to be taking a pause ahead of the US Job data, scheduled for Friday, October 4. The upcoming US nonfarm payroll and unemployment data are expected to provide further cues on the Fed’s potential stance with the monetary policy plans going ahead.

Recently, Fed Chair Jerome Powell signaled confidence towards a cooling inflation. Simultaneously, other Fed officials have also hinted towards another 50 bps rate cut at the US central bank’s upcoming meeting, which sparked market optimism earlier this week.

XRP Price Slips 15% Today

XRP price slipped over 15% today and exchanged hands at $0.5106, indicating the lowering interest of the investors. Its trading volume soared about 16% to $3.21 billion. Notably, the crypto has recently touched the $0.6622 level, sparking market discussions over a further rally in the crypto’s price.

In addition, many market pundits have also shared a bullish outlook on the crypto’s price, suggesting a potential rally ahead. For instance, one renowned analyst said that XRP is preparing for a rally, potentially hitting $3 by Christmas.

However, the latest appeal seems to have dampened the optimistic sentiment in the market. According to CoinGlass data, the XRP Futures Open Interest fell more than 14% to $712 million, indicating a waning market interest in the crypto. It appears that the market participants are seeking further clarity on the legal battle before putting their bets into the crypto.

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Rupam Roy

Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news.
Rupam’s career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.



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3 10, 2024

Natálie Taschlerová: Czech Ice Dancer National Champion Success Mantra “Patience, Passion, and Love for hard work”

By |2024-10-03T13:31:00+03:00October 3, 2024|Fitness News, News|0 Comments


Natálie Taschlerová is a Czech ice dancer. With her brother and skating partner, Filip Taschler, she is the 2020 Nebelhorn Trophy champion and two-time Czech national champion (2022–2023). They represented the Czech Republic at the 2022 Winter Olympics.

On the junior level, she is the 2019 JGP USA bronze medalist and has competed in the final segment at three World Junior Championships, their highest placement being fourteenth in 2019. Nationally, she is a three-time Czech national junior champion.

Taschlerová began learning to skate in 2004 and subsequently began learning ice dance alongside her brother Filip following the end of his partnership with Karolína Karlíková. Years later, Taschler would say that “our relationship is better since we started skating together. When we were younger, we fought like small kids, but now we are adults. We respect each other.”

Taschlerová/Taschler made their international junior debut in the 2017–18 season, including two appearances on the ISU Junior Grand Prix, placing twelfth in Poland and thirteenth in Austria. After winning what would be the first of three Czech junior national titles, they made their first appearance at the World Junior Championships, where they finished eighteenth.

Competing their second season on the Junior Grand Prix, Taschlerová/Taschler were thirteenth at JGP Lithuania and eleventh at their home JGP Czech Republic. They then won their first international junior medals competing at minor events, a bronze at the Open d’Andorra and a silver at the junior category at the Inge Solar Memorial. Junior national champions for the second time, they finished the season placing fourteenth at the 2019 World Junior Championships.

Women Fitness President Ms. Namita Nayyar catches up with Natálie Taschlerová an exceptionally talented Czech ice dancer and two-time Czech national champion here she talks about her fitness routine, her diet, and her success story.

Natálie Taschlerová: Czech Ice Dancer National Champion Success Mantra “Patience, Passion, and Love for hard work”

Namita Nayyar:

You were born in Brno, Czech Republic. You started skating at the age of three years and subsequently, you began learning ice dance alongside your brother Filip Taschler. In 2017–18 season you won first of three Czech junior national titles. This later propelled your career to the height where you have been at the top of the world of ice dancing. Tell us more about your professional journey of exceptional hard work, tenacity, and endurance?

Natálie Taschlerová:

I started with figure skating at the age of two, initially just to learn how to skate. Out of all the sports I’ve tried, I fell in love with figure skating the most. Alongside this, I was also engaged in sports gymnastics. However, a time came when I had to make a choice between the two. I had talent in both disciplines, but it was becoming increasingly difficult to maintain my commitment to each. Consequently, at the age of 11, I chose to continue with figure skating and stepped away from gymnastics.

My transition to ice dancing was prompted by a previous injury; I severely broke both bones in my right forearm for the second time, which resulted in a lengthy and difficult recovery. When I returned to the ice, the fear of jumping was overwhelming. I found myself contemplating whether to leave figure skating altogether to lead a more conventional life focused on school. The alternative was to switch disciplines, and I always had strong skating skills and an intuitive feel for music on the ice. It was then that my brother, Filip, suggested we try skating together. Now, here we are in a different country, chasing our dreams. Sometimes, it all feels quite surreal.

Our first junior medals gave us a glimpse of a promising future in the sport. These achievements fueled our ambition to reach higher levels. During the 2018-2019 season, we were still skating and living in our hometown, Brno, training under our former coach Nikola Višnová. Our coach had trained and lived in Milan during her professional career. Although home was comforting, we knew that to improve, we needed to step outside our country. We explored staying home as long as possible, trying to find suitable training conditions. However, this proved very challenging.

The first major change was our schooling. With training starting at 11 a.m. and ending around 5-6 p.m., attending school daily became nearly impossible. Some teachers were unsupportive of our journey, causing more problems. As a result, we switched to online homeschooling, which was a tremendous help. We both graduated high school and found we actually enjoyed studying. The best part just needed a computer and Wi-Fi to connect to our classes’ haha!

That season, we began collaborating with Matteo Zanni, travelling to Milan for weeks at a time to prepare for significant competitions like the 2018 Nationals and the 2019 Junior Worlds in Zagreb. After the season, Matteo invited us to move to the USA with him, offering us a chance to start a new life there. It was a pivotal opportunity, and we knew if we wanted to excel, we had to seize it. Our former coach, who was pregnant for the second time and planning to retire from coaching, supported this move. Leaving our family was tough, especially since our father was ill, but he encouraged us to pursue our dreams.

In the summer of 2019, we relocated to Chicago. It was a huge change – new country, different language – everything was unfamiliar, but it was exciting. We even spent the first week sleeping on the floor without beds, which is now one of my fondest memories. Exploring the USA, experiencing new culture, and meeting athletes and coaches were incredible. Besides training with Matteo Zanni, we worked with Collin Brubacker and Oleg Ebstain. Everything seemed perfect. It was the summer of my dreams. Until our lives were turned upside down.

In July 2019, our father passed away from cancer. It was devastating and brought everything to a halt. We returned to the Czech Republic, uncertain about our next steps – whether to continue skating or stay home to support our mom. The financial aspect was a significant concern since figure skating is very expensive. However, we tried to keep going. Skating became one of the things that saved us. While we didn’t have much time to process our grief, we continued, knowing this was what our dad wanted – for us to always fight and follow our dreams. Figure skating is a long journey where patience, passion, and a love for hard work are very important.

Full Interview is Continued on Next Page

This interview is exclusive and taken by Namita Nayyar President of womenfitness.net and should not be reproduced, copied, or hosted in part or full anywhere without express permission.

All Written Content Copyright © 2024 Women Fitness

Disclaimer
The Content is not intended to be a substitute for professional medical advice, diagnosis, or treatment. Always seek the advice of your physician or other qualified health provider with any questions you may have regarding a medical condition.



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3 10, 2024

What Exercise Burns The Most Calories? Best Workouts For Weight Loss

By |2024-10-03T12:27:33+03:00October 3, 2024|Dietary Supplements News, News|0 Comments


Most days, I want to get in and out of the gym as efficiently as possible. Sometimes that means focusing on a slow and controlled strength training sesh, and other times, it means getting my heart pumping, body sweating, and calories burning as fast as I can. Whether you’re squeezing in a session between meetings or trying to maximize a short window in your day, knowing which workouts are most aligned with your goals can help you make the most of every minute. If your goal is calorie burn (and that’s just one piece of the fitness puzzle!), the best calorie burning exercises can help you optimize your time and effort.

The thing is, certain workouts are way better at calorie-torching than others. While cardio often gets the credit as the ultimate burner, there’s more to the story—and the sustainable effects of strength training for weight loss might just surprise you.

It’s true that people tend to expend more calories while doing cardio, like running or jumping rope, compared to lifting weights, says Laura Miranda, CSCS, DPT, a physical therapist and fitness coach. “But anaerobic workouts (think weights) keep our excess post-exercise oxygen consumption (EPOC), or post-workout calorie-burn, going from hours to days,” she explains.

Meet the experts: Laura Miranda, CSCS, DPT, is a strength and conditioning specialist and founder of Pursuit. Jennifer Jacobs, CPT, is a personal trainer, creator of Beachbody’s Job 1, and founder of the J Method. Gabbi Berkow, CPT, RD, is a personal trainer and registered dietitian. Noam Tamir, CSCS, is a strength and conditioning specialist and founder of TS Fitness.

The reason weight training has a prolonged calorie-burning effect? When you work at that higher intensity, your body takes in more oxygen afterward to recover and repair muscles, Miranda says. By choosing exercises that ramp up that after-burn effect, “you get more bang for your buck in the long-term,” she says. “Muscle is the most metabolically active tissue, so the more of it we have, the more effective we are at burning calories all day long.”

And while the number of calories burned is an important part of weight loss, remember it’s only part of the equation. “Calories won’t measure the amount of strength you gain, your progress, or your improved endurance and stamina,” says Jennifer Jacobs, CPT, creator of Beachbody’s Job 1 and founder of the J METHOD.

Here’s what to know about the workouts with the highest calorie burn and how to up that number in any session, according to trainers.


Best Calorie Burning Exercises

TL;DR: Jumping rope boasts the highest calorie burn. You can torch up to 495 calories jumping rope for 30 minutes. But, it’s not the only worthwhile workout option if your goal is to maximize calories burned. The list below ranks the top 9 trainer-backed weight loss exercises by calories burned according to estimates by the American Council on Exercise. (FYI: The range of calories burned used for this list is s estimated for a 125 to 185-pound person.)


1. Jumping Rope

Calories burned: 667–990 calories/hour (at 120 skips per minute)

Yep, this blast from your playground past is a total torcher. Plus, “jumping rope is great for developing coordination, calf and ankle strength, core strength, posture, and cardiovascular endurance,” says Gabbi Berkow, CPT, a personal trainer and nutritionist. “It also helps build bone density, which guards against bone loss, osteoporosis, and bone loss.”

Ideally, the best way to start jumping rope is to start with a slow and sustainable pace, in 20- to 30-second intervals, Berkow suggests. Once you’ve mastered that flick-of-the-wrist and your footwork timing, work on increasing your speed and duration to burn more calories.

For a full-body workout challenge, give this calorie-torching jump rope workout from Carrie Underwood’s trainer a try. (It helped her score those iconic legs!)

Bonus burn: Use a weighted jump rope to engage your arms and shoulders even more.


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2. Running Sprints

Calories burned: 639–946 calories/hour

Whether you’re on a tread, at a track, or on the sidewalk, charging ahead at top speeds during a sprint workout is guaranteed to rev that inner engine.

“Sprinting is a maximal effort that requires a lot of power from your glutes and hamstrings,” says Berkow. By alternating between maximal efforts and recovery periods, you build cardiovascular endurance and promote fat-burning, she adds.

To make the most of your efforts, “you want to sprint at a pace you can only maintain for about 20 seconds,” Miranda says. “Follow that with a recovery run at half of the intensity but double the time.”

Bonus burn: To kick up the heat, take your sprints up a hill or up stairs and you also fight against gravity, which increases the intensity even more. Miranda recommends starting with 10 to 15 stairs at a time. Once you’ve found your groove, you can even take two steps at a time to amp up the power required of each stride, suggests Berkow.


3. Kickboxing

Calories burned: 582–864 calories/hour

“Kickboxing works your upper body and core without a lot of impact to your legs, so it’s great if you can’t jump or have knee pain while jumping,” says Berkow. Plus, kickboxing has been shown to improve cardio, strength, agility, balance, coordination, upper body fitness, and aerobic power, per research published in Muscles, Ligaments, and Tendons. And, let’s be real: Hitting something is seriously stress-relieving.

Bonus burn: Turn up the intensity by resting for just 30 seconds for every 90 seconds of sparring.

To get started, you’ll want to learn common boxing moves (like jabs, crosses, uppercuts, and hooks) and be ready to incorporate squats, lunges, and ducks.

Pro tip: Learn the handwork before you start the footwork, and decrease rest times between sets.


4. Indoor Cycling

Calories burned: 568–841 calories/hour

“Cycling is great for no-impact cardio and for strengthening your knees and hamstrings,” says Berkow, making it an excellent form of cardio if you have knee pain when running or jumping, or are recovering from knee issues. In addition to improving both aerobic and anaerobic function, doing intervals on an exercise bike has also been shown to be particularly effective for reducing body fat, per research published in the Journal of Education and Training Studies.

For best results, “make sure you maintain good posture (chest up, shoulders back and down, and a flat back) as you cycle,” says Berkow. From there, “adding sprint intervals at fast paces and recovery intervals and a moderate pace will burn more calories and yield a greater after-burn than a steady state ride.”

Bonus burn: Try an instructor-led spin class to guarantee you’ll hit those intervals hard. If cycling alone, alternate between one minute of high-intensity effort and 30 seconds at a calmer pace.


5. Running

Calories burned: 566–839 calories/hour (10-minute mile pace)

One major reason running is such an effective weight loss exercise? In addition to working the large muscles in your legs, it’s high-impact. “You have to push your body weight off of the ground with every stride,” says Berkow.

If you’re just getting started (or if running at a steady pace bothers your ankles or knees), opt for intervals, alternating running with light jogging or walking. “If you are new to running, use a 1:2 work to rest ratio, or recover for twice as long as you run,” Berkow says. Or, give yourself the goal of running a half-marathon or full marathon to make those miles really count.

Bonus burn: Run at a strong, steady pace (a seven out of 10 effort), and you’ll continue to burn extra calories over the rest of the day.


6. Kettlebell Circuits

Calories burned: 554–822 calories/hour

Haven’t hopped on the KB train yet? “Kettlebell circuits or complexes (sequence of movements you perform without putting your weight down) are my favorite calorie-burning exercise because they work both strength and cardio,” says Berkow. “You’re lifting weights in a way that keeps your heart rate up the whole time, so you build muscle and burn fat!”

Yep, working with kettlebells consistently has been shown to both improve overall strength and boost your metabolism, according to findings published in the Journal of Strength and Conditioning Research.

The key to KB success: “Include a squat, swing, push, pull, and core move in order to work your entire body,” says Berkow. Personal trainer Noam Tamir, CSCS, recommends alternating between upper- and lower-body movements so you can keep going for longer before fatiguing.

Want to really work your abs? Check out these kettlebell moves:

preview for 7 Kettlebell Moves For Great Abs

If you’ve never done a kettlebell complex before, try this: Perform a kettlebell deadlift to squat clean, then a kettlebell push press, and repeat. (You can also pick and choose some other moves from the best kettlebell exercises.)

Bonus burn: Perform your kettlebell magic high-intensity interval training-style (HIIT), working for one minute, resting for 30 seconds, and repeating.


7. Rowing

Calories burned: 481–713 calories/hour (150 watts, which you can check on the machine)

Because rowing engages both your cardiovascular system and major muscle groups, it’s a highly effective full-body workout for fat loss and muscle-building. “Rowing works your entire body—glutes, hamstrings, back, core, hips, and arms,” says Berkow. “It’s great for strengthening your posterior chain, a.k.a., the back of your body.”The result: Rowing can help you shed body fat and rev your metabolism, according to research published in the Annals of Rehabilitation Medicine.

Of course, proper form is key (and easy to miss): As you start each pull, “your legs push back first, then your torso leans back to about 45 degrees, and then your arms pull into your chest,” Berkow says. To reverse the movement, your arms reach forward past your knees, then you hinge your torso forward, and then your legs return to the starting position.” And while rowing might look like a mostly upper-body movement, the majority of the work—about 60%—comes from your legs!

Bonus burn: For maximum torching power, alternate super-fast, one-minute rowing intervals with 30- to 60-second active rest periods of squats, pushups, and planks.


8. Loaded Kettlebell Carries

Calories burned: 476–705 calories/hour

“Kettlebell (or dumbbell) carries are one of the best exercises you can do for your core and posture,” says Berkow. Kettlebell carries are a total-body move and can help build serious strength, especially if you keep upping your weights over time.

To really burn calories, “your weights should be heavy enough that you feel like you have to lead with your glutes,” Berkow says. “Hold the weights at your sides with shoulders down and back, chest open, lats engaged, abs tight, glutes squeezing, and shoulders and hips square.”

Bonus burn: Try Miranda’s 3-in-1 carry burner by walking as far as you can with weights extended up overhead, then as far as you can with weights on shoulders, and then as far as you can with weights down at sides. Rest for a minute, then repeat.


9. Stairs

Calories burned: 452–670 calories/hour (77 steps per minute)

If sprinting up stairs just doesn’t appeal (or sounds like a banged shin just waiting to happen), you can walk your way up and still burn the calories necessary to support weight loss.

“Stairs burn a ton of calories and work your legs and hips, which are muscles that really need to be strengthened after sitting all day,” says Berkow. In addition to promoting fat loss, stair-climbing can help lower cholesterol and boost your anaerobic fitness, according to research published in the British Journal of Sports Medicine.

Whether you’re working the StairMaster or running steps around town, à la Rocky, stair-climbing forces you to work against gravity and strengthen your muscles.

Bonus burn: To up the ante, hold light dumbbells in each hand to get your upper body fired up, too. Or, start taking two steps at a time.


How To Burn More Calories In Your Workout

The number one way to burn more calories is to keep moving, says Jacobs. “There’s not one magic exercise, and if there were we’d all know about it and we’d all be doing it,” she says. How long and hard you work plays an important role in torching calories, whether that be cardio or strength training, she explains.

Think about it this way. The more time you spend exercising and the higher the intensity, the more calories you burn during the session.

Time + intensity = calories burned

But that doesn’t mean you need to train for hours on end, stresses Jacobs. “Too much of a good thing isn’t always great, because a longer duration or higher intensity could lead to overtraining and mental burnout.”

Activity beyond your 30, 60, or more minutes in the gym actually matters more. Focus on training efficiently and adding intentional movement into other parts of your day, Jacobs adds. Take a walk after lunch, use the stairs instead of the elevator, or add yoga to your morning routine.

It’s important to note that the amount of time you train is a small fraction of the total calories expended within a day, says Jacobs. When it comes to caloric burn, non-exercise activity thermogenesis (the energy expended for everything we do that is not sleeping, eating, or sports-like exercise) accounts for 10 to 20 percent of your daily energy expenditure, and your basal metabolic rate (the amount of calories your body burns while performing basic life-sustaining functions like breathing, growing hair, and digesting food) accounts for 60 to 70 percent, she explains.

Headshot of Andi Breitowich

Andi Breitowich is a Chicago-based writer and graduate student at Northwestern Medill. She’s a mass consumer of social media and cares about women’s rights, holistic wellness, and non-stigmatizing reproductive care. As a former collegiate pole vaulter, she has a love for all things fitness and is currently obsessed with Peloton Tread workouts and hot yoga.  

Headshot of Ashley Mateo

Ashley Mateo is a writer, editor, and UESCA- and RRCA-certified running coach who has contributed to Runner’s World, Bicycling, Women’s Health, Health, Shape, Self, and more. She’ll go anywhere in the world once—even if it’s just for a good story. Also into: good pizza, good beer, and good photos.



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3 10, 2024

GBP/USD depreciates due to risk aversion

By |2024-10-03T11:41:43+03:00October 3, 2024|Forex News, News|0 Comments

GBP/USD drops to near 1.3200 due to risk-off mood amid rising tensions in the Middle East

GBP/USD extends its losing streak for the third consecutive day, trading around 1.3200 during the Asian session on Thursday. The risk-sensitive GBP/USD pair receives downward pressure due to the safe-haven flows amid escalating Middle-East tensions.

The Israeli Broadcasting Authority (IBA) reported that Israel’s security cabinet has decided to issue a strong response to the recent Iranian attack. On Tuesday night, Iran launched over 200 ballistic missiles and drone strikes on Israel. Read more…

GBP/USD softens below 1.3300 amid renewed US Dollar demand

The GBP/USD pair extends its downside to around 1.3265 during the early Asian session on Thursday. The renewed demand for the US dollar (USD) amid the rising geopolitical tensions in the Middle East provides some support to the major pair. The US September ISM Services Purchasing Managers Index (PMI), the weekly Initial Jobless Claims, and the final S&P Global Services PMI will be in the spotlight on Thursday. 

Iran fired more than 180 missiles at Israel on Tuesday, its biggest-ever direct attack on the country. Israel and the United States vowed retribution for the attack. A sign that conflict in the region is intensifying and the fear of wider war boosts the safe-haven flows, benefiting the Greenback against the Pound Sterling (GBP). Read more…

 

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3 10, 2024

As XRP Falls Ripple CEO Comments on XRP Price Chart

By |2024-10-03T11:40:44+03:00October 3, 2024|Crypto News, News|0 Comments

Ripple CEO Brad Garlinghouse has commented on the XRP price chart, which shows a significant decline in XRP that contrasts with the broader market trend.

XRP is presently trading at $0.5352 after shredding over 10.75% of its value over the last 24 hours. This double-digit percentage loss is only observable with XRP among the top-ranking crypto assets.

While the overall market is experiencing a downturn, most tokens have seen only a decline of just over 3% today.

XRP Crashing Amid SEC Appeal

Notably, XRP is experiencing a massive dump as the U.S. SEC has finally signaled that it is filing an appeal in the recently concluded lawsuit involving Ripple. 

Before this official announcement on Tuesday, SEC legal representatives had informed journalists that everyone at the SEC “truly” believes the July 2023 decision is incorrect, not a good interpretation of the law.

Notably, the part of the ruling that the SEC seeks to appeal concerns Ripple’s programmatic sales of XRP, which Judge Analisa Torres ruled in favor of Ripple. The appeal does not include the conclusion that XRP is not a security, as the SEC agrees.

With the agency officially moving to appeal the rulings ahead of the October 7 deadline, XRP’s price is taking a hit.

Crypto enthusiast Carlos Miguel shared a graph on X showing the dramatic collapse of XRP’s price following this development. Ripple CEO Garlinghouse sarcastically remarked that the XRP chart illustrates how the SEC is “protecting” investors.

His comment underscores how XRP holders are once again facing losses due to the SEC’s actions, suggesting that the agency is causing more harm than protection.

Ripple CEO Frustrated by SEC Appeal

While Ripple executives have stated that the SEC’s decision to file an appeal is not surprising, they find it disappointing. Garlinghouse expressed his frustration that the SEC continues to use taxpayer money on what he considers a losing battle.

“I’m pissed that they are able to act without recourse or consequence,” he said. Nonetheless, he emphasized that Ripple will continue to fight vigorously and ultimately prevail.

In a similar vein, Ripple’s Chief Legal Officer, Stuart Alderoty, stated that the SEC is merely prolonging what has already become a significant embarrassment for the agency. He lamented that rather than applying the law faithfully, the agency, under its current chair, continues to wage a litigation war against the crypto industry.

“We are evaluating whether to file a cross-appeal,” he added.

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.



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3 10, 2024

Bitwise Files for XRP ETF Amid Ongoing SEC Legal Battle | Key Points | Oct. 03, 2024

By |2024-10-03T11:21:59+03:00October 3, 2024|News, NFT News|0 Comments


GM. Welcome back to BitPinas Key Points: easily digestible news in concise formats for easy reading. In today’s daily recap: XRP is back in the news, but will it go up again, ever?

Here are the latest crypto news stories in the last 24 hours.


Market Analysis and Updates 📈

Here are the crypto highlights of the day:

Crypto Price Update

  • Bitcoin (BTC): $61,299.83, down 0.7% over the last 24 hours.
  • Ethereum (ETH): $2,389.72, down 3.8% over the last 24 hours.
  • Solana (SOL): $141.78, down 4.1% vs the previous day.

Trending Coins Update

  • Sudeng: $0.0120, up 54.2% vs the previous day.
  • Acet: $0.0218, up 20.7% over the last 24 hours.
  • Eigenlayer: $3.46, down 11.7% vs the previous day.

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For the daily price update, check out our post on Facebook.


Photo for the Article - Bitwise Files for XRP ETF Amid Ongoing SEC Legal Battle | Key Points | Oct. 03, 2024

Bitwise has filed for an XRP exchange-traded fund (ETF) in Delaware, aiming to give investors direct exposure to the cryptocurrency XRP.

Why does this news matter: If approved, this would mark one of the first XRP ETFs in the U.S., following a wave of Bitcoin and Ethereum ETF approvals by the U.S. SEC earlier this year.

  • XRP, however, has been entangled in legal battles with the SEC, raising questions about the likelihood of approval.
  • XRP, created by Ripple, has faced legal scrutiny from the SEC, which sued Ripple in 2020 over unregistered securities sales. While Ripple won a partial court victory, the legal battle may impact the approval of an XRP ETF.

The numbers: XRP remains as a top 10 cryptocurrency, although it slid in price by 11% vs the previous day and 9% vs the previous week.

What’s next: Approval is not guaranteed, especially given the SEC’s history with XRP and its ongoing legal challenges.

  • Still, sentiments suggest that an ETF approval is one of those final news that could move the price of XRP up. If it does happen, expect the XRP army, a large portion of them in the Philippines, to celebrate!

Philippine Crypto News 🇵🇭

Photo for the Article - Bitwise Files for XRP ETF Amid Ongoing SEC Legal Battle | Key Points | Oct. 03, 2024

Noteworthy 🌟

Key updates and announcements from around the crypto and blockchain world:

  • An Indiana man pleaded guilty to stealing over $37 million in cryptocurrency from nearly 600 victims through cyber intrusion and money laundering.
  • Rising stablecoin market cap is providing liquidity that could boost bitcoin prices.
  • DeFi leaders requested a meeting with Vice President Kamala Harris’ campaign to discuss policies for web3.

Educational Corner 🎓

Photo for the Article - Bitwise Files for XRP ETF Amid Ongoing SEC Legal Battle | Key Points | Oct. 03, 2024

Following Representative Joey Salceda’s resolution to review regulatory policies of the BSP and SEC on cryptocurrency exchanges, check out reaction of the Filipino crypto community on the potential impact of these hearings.


Regulation Watch 📜

Stay informed about the latest regulatory updates and what they mean for you:

  • The Australian Federal Police cracked a seed phrase to access $6.4 million in crypto as part of Operation Kraken.
  • Binance is now fully operational in Argentina after registering as a VASP)with the National Securities Commission.
  • The Bank of England and FCA launched a Digital Securities Sandbox to explore the use of digital ledger technology in the trading, settlement, and issuance of financial securities.

Photo for the Article - Bitwise Files for XRP ETF Amid Ongoing SEC Legal Battle | Key Points | Oct. 03, 2024

Meet Disi: He is a prominent figure in the web3 gaming community. He is highly regarded for his expertise in web3 games Axie Infinity and Parallel.

Disi often participates in events and bootcamps to help players improve their skills and strategies

  • Disi is the esports team captain for Yield Guild Games (YGG).
  • He also creates content on various web3 games.
  • Disi also often participates in events and bootcamps to help players improve their skills and strategies. (He was also at the Parallel event we previously covered.)

More Web3 and AI News 💡

Discover the latest in web3 and AI innovation.

  • EigenLayer’s EIGEN token was launched.
  • At this year’s Hong Kong FinTech Week, artificial intelligence will take center stage, reflecting a shift away from web3.
  • CoinW listed DRIFT for trading as DRIFT/USDT and launched a 2,000 USDT reward program to celebrate.

Web3 Gaming Section 🎮

The future of web3 is gaming, and here are the latest news.

  • Eragon launched its first real-time airdrop in the Eraverse Beta, allowing NFT holders to earn $EGON and other rewards during designated 30-minute airdrop session.
  • Space Nation launched its 12-week soft launch offering over 13 million OIK tokens through quests, NFT competitions, and a Proof of Contribution program.
  • Gods Unchained will launch its expansion Tower of Dread on October 10, 2024, introducing 40 new cards.

Event Announcements 📅

Don’t Miss Out: Upcoming events, webinars, and meetups in the crypto space!


Stay Connected:

We’d love to hear from you! Reply with your thoughts or questions.

This article is published on BitPinas: Bitwise Files for XRP ETF Amid Ongoing SEC Legal Battle | Key Points | Oct. 03, 2024



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3 10, 2024

XAU/USD looks to more US data for a fresh directional impetus

By |2024-10-03T11:17:04+03:00October 3, 2024|Forex News, News|0 Comments


  • Gold price remains capped below the key $2,670 resistance, despite the escalating Israel-Iran conflict.   
  • The US Dollar stands tall on reduced bets for an outsized Fed rate cut in November.     
  • Gold price could struggle for bullish traction ahead of top-tier US economic data, Fedspeak.

Gold price is trading listlessly in a narrow range under the key $2,670 static resistance, lacking a clear directional impetus so far this Thursday. The focus now shifts toward a fresh batch of US economic statistics and speeches from Federal Reserve (Fed) policymakers for fresh directives amid the escalating geopolitical conflict between Israel and Iran.

Gold price divided between Mideast woes and smaller Fed rate cut bets

Several media outlets reported that Israel delivered a harsh response to the recent Iranian attack by bombing central Beirut in the early hours of Thursday. Lebanese security officials said that three missiles also struck the southern suburb of Dahiyeh, the place of Hezbollah leader Hassan Nasrallah’s killing. Lebanese health officials also reported that multiple people were injured following Israel’s strike in Beirut. 

Iranian forces on Tuesday used hypersonic Fattah missiles for the first time and 90% of its missiles successfully hit their targets in Israel. Tehran said this attack was in response to Israeli killings of militant leaders and aggression in Lebanon against the Iran-backed armed movement Hezbollah and in Gaza.

Despite the increasing risks of the Israel-Iran conflict turning into a wider regional war in the Middle East, Gold price is struggling to capitalize on the risk-off flows, as diminishing odds of a 50 basis points (bps) interest rate cut by the Fed in November keep the sentiment around the US Dollar underpinned at the expense of the non-interest-bearing Gold price.

Data on Wednesday showed that US ADP private sector employment increased by  143,000 jobs for September, accelerating from the upwardly revised 103,000 in August and better than the 120,000 estimate. Strong ADP jobs report eased concerns about the health of the US labor market, supporting the expectations for Friday’s Nonfarm Payrolls data.

Markets are currently pricing in about a 34% chance that the Fed will opt for a big rate cut at its next meeting, compared with almost 60% last week, CME Group’s FedWatch Tool shows.

Next of note for Gold traders remain the US ISM Services PMI and the weekly Jobless Claims data for fresh signals on the state of the economy and the Fed’s next interest rate move. Also, Fedspeak will be closely scrutinized and will likely have a significant impact on the US Dollar valuation, eventually influencing the Gold price action.

Gold price technical analysis: Daily chart

The daily technical setup for Gold price remains constructive so long as the 14-day Relative Strength Index (RSI) remains in the bullish territory. The leading indicator is currently trading near 66.50.  

Gold price needs to yield a daily candlestick closing above the static resistance near $2,670 for a renewed upside. The next resistance is aligned at the record high of $2,686.

Furrther up, buyers will target the $2,700 round level, followed by the rising trendline resistance at $2,740.

Alternatively, if Gold sellers flex their muscles, acceptance below the September 24 low of $2,623 is critical to unleashing further downside toward the $2,600 threshold.

Gold sellers could then challenge the September 20 low of $2,585, where the 21-day Simple Moving Average (SMA) hangs around.

Economic Indicator

ISM Services PMI

The Institute for Supply Management (ISM) Services Purchasing Managers Index (PMI), released on a monthly basis, is a leading indicator gauging business activity in the US services sector, which makes up most of the economy. The indicator is obtained from a survey of supply executives across the US based on information they have collected within their respective organizations. Survey responses reflect the change, if any, in the current month compared to the previous month. A reading above 50 indicates that the services economy is generally expanding, a bullish sign for the US Dollar (USD). A reading below 50 signals that services sector activity is generally declining, which is seen as bearish for USD.

Read more.

 



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