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30 06, 2024

Fully Automatic Coffee Machines Market Trends And Forecast by 2032

By |2024-06-30T13:45:01+03:00June 30, 2024|Forex News, News|0 Comments


This document provides a basic overview of the industry, covering its definition, applications, and manufacturing technology. Further details about the main players in the global sector are included in the study. There are primary and secondary data sources in the research report on the global Fully Automatic Coffee Machines Market. During the research process, a variety of factors that affect the industry are examined, including legislation, market conditions, competitive levels, region, historical data, market conditions, technological improvements, and projected developments.



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29 06, 2024

Natural Gas Price Forecast: Bearish Trend Intensifies

By |2024-06-29T01:24:08+03:00June 29, 2024|Forex News, News|0 Comments


Decline Follows Failed Breakout Above the 20-Day MA

The decline today follows a successful test of resistance around the 20-Day MA and top trendline over several days earlier this week. Given that the June 24 swing low at 2.635 failed to hold as support today, it looks like the 200-Day MA around 2.47 will be tested as support before the retracement is complete.

Notice that the 50-Day MA has almost converged with the 200-Day line thereby confirming potential support around the 200-Day line. If the 200-Day line fails to act as support, lower potential targets are identified at the 50% retracement and 61.8% Fibonacci retracement at 2.37 and 2.18, respectively.

Drop to 200-Day MA More Likely

When measuring the full upswing beginning from the April 25 swing low, the 38.2% retracement shows at 2.55. But given the rejection of the price of natural gas as the 20-Day line and subsequent bearish reaction, it is at risk of being broken. Further, this weekโ€™s swing high of 2.86 established the BC leg of a descending ABCD pattern.

The pattern completes below the 200-Day MA and near the 50% retracement at 2.34. This would seem to increase the risk of a potential decline below the 200-Day line. The 200-Day line was successfully tested as support on May 28, shortly after natural gas rallied back above the line on May 16. If it falls back below the line and then stays below it, the correction is likely to continue with a deeper retracement or consolidation.

Lower Support Zone Starts Around 2.235

A lower potential support zone, below the 50% retracement, is identified from around 2.235 to 2.18. This week is on track to end, completing the second week down from the June 10 high. Moreover, selling continues to dominate into Friday afternoon. Therefore, next week natural gas is at risk of continuing the bearish decline.

For a look at all of todayโ€™s economic events, check out ourย economic calendar.



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28 06, 2024

XAU/USD remains directionless ahead of key macroeconomic events

By |2024-06-28T19:20:46+03:00June 28, 2024|Forex News, News|0 Comments


  • Gold managed to hold above $2,300 despite broad US Dollar strength.
  • The technical outlook highlights XAU/USDโ€™s indecisiveness in the near term.
  • Fed Chairman Powellโ€™s speech and key macroeconomic data releases from the US could help Gold find direction next week.

Gold (XAU/USD) came under bearish pressure and declined below $2,300 on Wednesday after starting the week in a calm manner. The pair, however, managed to recover its losses on Thursday and stabilized above $2,320. Federal Reserve (Fed) Chairman Jerome Powellโ€™s speech at the European Central Bankโ€™s (ECB) Forum on Central Banking in Sintra on Tuesday and key macroeconomic data releases from the US, including the June jobs report, could help Gold break out of its range next week.ย 

Gold has yet to decide on next direction

In the absence of high-tier macroeconomic data releases, the cautious market mood and hawkish comments from Fed officials allowed the US Dollar (USD) to stay resilient against its rivals and made it difficult for Gold to gain traction at the start of the week. Meanwhile, the data from the US showed on Tuesday that the Conference Board (CB) Consumer Confidence Index edged lower to 100.4 in June from 101.3 in May, while the Present Situation Index improved to 141.5 from 140.8 in the same period.

Fed Governor Michelle Bowman said on Tuesday that they are not yet at the point where it is appropriate to cut interest rates, adding that she is willing to raise rates at a future meeting if inflation progress were to stall or reverse.

The benchmark 10-year US Treasury bond yield gathered bullish momentum late Tuesday following Bowmanโ€™s comments and continued to push higher on Wednesday. In turn, XAU/USD dropped below $2,300 for the first time in two weeks.

Mixed data releases from the US opened the door for a rebound in XAU/USD on Thursday. The Bureau of Economic Analysis (BEA) announced that it revised the annualized Gross Domestic Product (GDP) growth for the first quarter to 1.4% from 1.3% in the previous estimate. On a negative note, Durable Goods Orders ex Defense declined 0.2% in May after staying unchanged in April, while Pending Home Sales contracted by 2.1% on a monthly basis in May, highlighting worsening conditions in the housing market.

The BEA reported on Friday that inflation in the US, as measured by the change in the Personal Consumption Expenditures (PCE) Price Index, edged lower to 2.6% on a yearly basis in May from 2.7% in April, as expected. On a monthly basis, the PCE Price Index was unchanged in May, while the annual core PCE Price Index, which excludes volatile food and energy prices, rose 2.6% in the same period, down from the 2.8% increase recorded in April. Finally, the monthly core PCE Price Index rose 0.1%. The USD struggled to find demand following the PCE inflation data, allowing gold to cling to its daily gains in the American session on Friday.

Gold investors await Powell speech, key US data

The ISM Manufacturing Purchasing Managers Index (PMI) data for June will be featured in the US economic docket on Monday. The headline PMI is forecast to improve to 49 from 48.7 in May. A reading above 50, which would point to a return to expansion in the sectorโ€™s business activity, could support the USD and limit Goldโ€™s upside in the American trading hours.

On Tuesday, the Bureau of Labor Statistics (BLS) will release the JOLTS Job Openings data for May. Investors are likely to ignore this report and stay focused on Fed Chairman Jerome Powellโ€™s speech at the ECBโ€™s Forum on Central Banking. This will be Powellโ€™s first public appearance since he spoke at the press conference following the June policy meeting.

If Powell voices a preference for a single rate hike this year, the initial reaction could provide a boost to the USD. On the other hand, investors could remain hopeful about an interest rate cut in September if Powell reiterates the data-dependent approach and refrains from dismissing the possibility of a policy pivot before the end of the year. According to the CME FedWatch Tool, markets are currently pricing in a 36% probability of the Fed leaving the policy rate unchanged in September.

Weekly Initial Jobless Claims, ADP Employment Change and the ISM Services PMI data will be released on Wednesday. Investors might remain reluctant to take positions based on these data because stock and bond markets will remain closed in observance of the July 4 holiday on Thursday. More importantly, the BLS will publish the June jobs report on Friday, which will include Nonfarm Payrolls (NFP), Unemployment Rate and wage inflation figures.ย 

Late Wednesday, the FOMC will release the Minutes of the June policy meeting. The publication is unlikely to offer any fresh clues regarding the Fedโ€™s interest rate outlook.

Following the stronger-than-forecast increase of 272,000 in May, NFP is expected to rise 180,000 in June. The Unemployment Rate is seen holding steady at 4% and the wage inflation, as measured by the change in the Average Hourly Earnings, is anticipated to grow 0.3%, down slightly from 0.4% growth in May. Unless there is a significant downward revision to the May NFP print, an increase of 200,000 or more in June could help the USD outperform its rivals ahead of the weekend. On the flip side, an increase of less than 150,000 could be seen as a sign of loosening conditions in the labor market and cause the USD to lose interest. In this scenario, XAU/USD is likely to end the week on a bullish note.

Gold technical outlook

The Relative Strength Index (RSI) indicator on the daily chart moves sideways near 50, highlighting a lack of directional momentum. Although Gold held above $2,300 (psychological level), it has yet to clear the 50-day Simple Moving Average (SMA), currently located near $2,340. If XAU/USD rises above this level and confirms it as support, technical buyers could take action. In this scenario, $2,380 (static level) could be seen as the next resistance before $2,400 (psychological level, static level).

On the downside, additional losses toward $2,280 (static level) and $2,265-$2,255 (Fibonacci 38.2% retracement of the mid-February-June uptrend, 100-day SMA) could be seen if $2,300 support fails.

Fed FAQs

Monetary policy in the US is shaped by the Federal Reserve (Fed). The Fed has two mandates: to achieve price stability and foster full employment. Its primary tool to achieve these goals is by adjusting interest rates. When prices are rising too quickly and inflation is above the Fedโ€™s 2% target, it raises interest rates, increasing borrowing costs throughout the economy. This results in a stronger US Dollar (USD) as it makes the US a more attractive place for international investors to park their money. When inflation falls below 2% or the Unemployment Rate is too high, the Fed may lower interest rates to encourage borrowing, which weighs on the Greenback.

The Federal Reserve (Fed) holds eight policy meetings a year, where the Federal Open Market Committee (FOMC) assesses economic conditions and makes monetary policy decisions. The FOMC is attended by twelve Fed officials โ€“ the seven members of the Board of Governors, the president of the Federal Reserve Bank of New York, and four of the remaining eleven regional Reserve Bank presidents, who serve one-year terms on a rotating basis.

In extreme situations, the Federal Reserve may resort to a policy named Quantitative Easing (QE). QE is the process by which the Fed substantially increases the flow of credit in a stuck financial system. It is a non-standard policy measure used during crises or when inflation is extremely low. It was the Fedโ€™s weapon of choice during the Great Financial Crisis in 2008. It involves the Fed printing more Dollars and using them to buy high grade bonds from financial institutions. QE usually weakens the US Dollar.

Quantitative tightening (QT) is the reverse process of QE, whereby the Federal Reserve stops buying bonds from financial institutions and does not reinvest the principal from the bonds it holds maturing, to purchase new bonds. It is usually positive for the value of the US Dollar.

ย 



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28 06, 2024

XAU/USD sellers refuse to give up, as US PCE inflation looms

By |2024-06-28T09:15:04+03:00June 28, 2024|Forex News, News|0 Comments


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  • Gold price returns to the red early Friday, awaiting US PCE inflation data.ย 
  • The US Dollar follows the USD/JPY and Treasury bond yields higher even as the mood improves. ย 
  • The fate of Gold price hinges on the top-tier US data but downside risks remain intact.

Gold price has snapped its rebound from two-week lows early Friday, losing ground after running into offers near the $2,330 resistance again. The next direction for Gold price now remains in the hands of the US Personal Consumption Expenditure (PCE) inflation data.

All eyes remain on US PCE inflation data and Japanโ€™s intervention risks

Gold price is back in negative territory in Asian trading on Friday, as the US Dollar extends Thursdayโ€™s late rebound and recovers lost ground on the back of the resumption of the USD/JPY uptrend and rising US Treasury bond yields.

Higher US Dollar and US Treasury bond yields trigger a fresh bout of selling in the non-yielding Gold price. Additionally, traders turn cautious and refrain from placing fresh bets on Gold price heading into the US inflation showdown.

The US annual PCE Price Index is seen rising 2.6% in May, compared to a 2.7% increase in April while the Federal Reserve (Fed) preferred inflation measure, the core PCE figure, is expected to accelerate by 2.6% YoY, slowing from a 2.8% growth in April.

If the inflation data points to slowing price pressures, Gold price is likely to regain its recovery momentum, as the US Dollar would come under strong selling pressure on increased bets for a September rate cut. On the contrary, the US Dollar could stretch its recent advance and weigh on Gold price should the data surprise to the upside.

Markets are now pricing in about a 64% chance of a Fed rate cut in September, a tad higher than the 62% seen Thursday, according to CME FedWatch Tool.

Meanwhile, the first US presidential election debateย in the showdown to the November 5 polls had little to no impact on the value of the US Dollar and that of Gold price.

On Thursday, mixed US growth, Durable Goods Orders and housing data exerted downward pressure on the US Dollar. The Greenback already bore the brunt of the correction in the USD/JPY. This helped Gold price stage a decent comeback from two-week troughs under $2,300.

Further, Fed Governor Michele Bowmanโ€™s change of words exacerbated the buckโ€™s pain. Bowman said, โ€œI am still willing to raise rates again if inflation doesnโ€™t ease.โ€ Atlanta Fed Presidentย Raphael Bosticย also delivered dovish remarks, suggesting that an interest rate cut in the fourth quarter was likely, with inflation moving in the right direction. ย 

Gold price technical analysis: Daily chart

ย 

Gold price downside remains intact, despite the previous rebound, as the 14-day Relative Strength Index (RSI) remains below the 50 level.

Therefore, any rebound in Gold price continues to remain a good selling opportunity. ย ย 

Adding credence to the bearish potential, the previous weekโ€™s 21-day Simple Moving Average (SMA) and the 50-day SMA bearish crossover continues to act as a headwind.

If sellers extend control, the $2,300 threshold will be put to test once again, below which the June low at $2,287 could come to the buyersโ€™ rescue.

Further down, the May 3 low at $2,277 will come into play. ย 

Alternatively, Gold price needs to take out the 21-day SMA at $2,328 on a daily closing basis to resume the recovery from the monthly low of $2,287. ย 

Further up, the 50-day SMA at $2,338 will be eyed, followed by the two-week high of $2,366.

Gold FAQs

Gold has played a key role in humanโ€™s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesnโ€™t rely on any specific issuer or government.

Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a countryโ€™s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves.

Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal.

The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.

ย 

  • Gold price returns to the red early Friday, awaiting US PCE inflation data.ย 
  • The US Dollar follows the USD/JPY and Treasury bond yields higher even as the mood improves. ย 
  • The fate of Gold price hinges on the top-tier US data but downside risks remain intact.

Gold price has snapped its rebound from two-week lows early Friday, losing ground after running into offers near the $2,330 resistance again. The next direction for Gold price now remains in the hands of the US Personal Consumption Expenditure (PCE) inflation data.

All eyes remain on US PCE inflation data and Japanโ€™s intervention risks

Gold price is back in negative territory in Asian trading on Friday, as the US Dollar extends Thursdayโ€™s late rebound and recovers lost ground on the back of the resumption of the USD/JPY uptrend and rising US Treasury bond yields.

Higher US Dollar and US Treasury bond yields trigger a fresh bout of selling in the non-yielding Gold price. Additionally, traders turn cautious and refrain from placing fresh bets on Gold price heading into the US inflation showdown.

The US annual PCE Price Index is seen rising 2.6% in May, compared to a 2.7% increase in April while the Federal Reserve (Fed) preferred inflation measure, the core PCE figure, is expected to accelerate by 2.6% YoY, slowing from a 2.8% growth in April.

If the inflation data points to slowing price pressures, Gold price is likely to regain its recovery momentum, as the US Dollar would come under strong selling pressure on increased bets for a September rate cut. On the contrary, the US Dollar could stretch its recent advance and weigh on Gold price should the data surprise to the upside.

Markets are now pricing in about a 64% chance of a Fed rate cut in September, a tad higher than the 62% seen Thursday, according to CME FedWatch Tool.

Meanwhile, the first US presidential election debateย in the showdown to the November 5 polls had little to no impact on the value of the US Dollar and that of Gold price.

On Thursday, mixed US growth, Durable Goods Orders and housing data exerted downward pressure on the US Dollar. The Greenback already bore the brunt of the correction in the USD/JPY. This helped Gold price stage a decent comeback from two-week troughs under $2,300.

Further, Fed Governor Michele Bowmanโ€™s change of words exacerbated the buckโ€™s pain. Bowman said, โ€œI am still willing to raise rates again if inflation doesnโ€™t ease.โ€ Atlanta Fed Presidentย Raphael Bosticย also delivered dovish remarks, suggesting that an interest rate cut in the fourth quarter was likely, with inflation moving in the right direction. ย 

Gold price technical analysis: Daily chart

ย 

Gold price downside remains intact, despite the previous rebound, as the 14-day Relative Strength Index (RSI) remains below the 50 level.

Therefore, any rebound in Gold price continues to remain a good selling opportunity. ย ย 

Adding credence to the bearish potential, the previous weekโ€™s 21-day Simple Moving Average (SMA) and the 50-day SMA bearish crossover continues to act as a headwind.

If sellers extend control, the $2,300 threshold will be put to test once again, below which the June low at $2,287 could come to the buyersโ€™ rescue.

Further down, the May 3 low at $2,277 will come into play. ย 

Alternatively, Gold price needs to take out the 21-day SMA at $2,328 on a daily closing basis to resume the recovery from the monthly low of $2,287. ย 

Further up, the 50-day SMA at $2,338 will be eyed, followed by the two-week high of $2,366.

Gold FAQs

Gold has played a key role in humanโ€™s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesnโ€™t rely on any specific issuer or government.

Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a countryโ€™s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves.

Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal.

The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.

ย 



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28 06, 2024

Natural Gas Price Forecast: Stuck in Consolidation as it Faces Key Resistance

By |2024-06-28T01:10:22+03:00June 28, 2024|Forex News, News|0 Comments


Bearish Continuation Below 2.635

A bearish continuation would be indicated on a drop below this weekโ€™s low of 2.635 (C). The 200-Day MA would then become a target for support around 2.47. There is an interim price level at the 38.2% Fibonacci retracement at 2.55, followed by the swing low of 2.475 from May 28 (A). The May 28 swing low carries significance as it is part of the price structure for the uptrend. A drop below it would violate the higher swing low.

Bulls Watching for Rally Above 2.86

Nevertheless, if this weekโ€™s low continues to hold as support and leads to higher prices, natural gas will have completed a new higher swing low as part of the price structure of the uptrend. A decisive rally above 2.86 will trigger a bullish breakout that should lead to a test of resistance around the trend high at 3.16 and is likely to continue to rise and test higher price levels. The first higher target is the completion of a rising ABCD pattern at 3.32. That target is followed by the January 8 swing high at 3.39.

The first bull breakout above the trendline two weeks ago could not be sustained, leading to the current minor pullback. A second breakout may have a greater chance of success as it would represent an important change in the chart given that it has represented trend resistance for a while.

Weekly Close to Leave Clues

Earlier this week natural gas triggered a bearish weekly continuation on the drop to 2.635. Unless it strengthens some during Fridayโ€™s session it is on track to close weak, in the lower area of the weekโ€™s trading range. Further, it may end with a weekly bearish shooting star candlestick pattern, which can be seen today. Unless there is a new high or low triggered for the week in Fridayโ€™s trading session, the halfway point for the weekโ€™s range is at 2.75.

For a look at all of todayโ€™s economic events, check out ourย economic calendar.



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27 06, 2024

XAU/USD back to its comfort zone around $2,330

By |2024-06-27T23:09:53+03:00June 27, 2024|Forex News, News|0 Comments


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XAU/USD Current price: $2,326.08

  • Generally encouraging United States data put pressure on the US Dollar.
  • The US will release the Personal Consumption Expenditures Price Index on Friday.
  • XAU/USD returned to its comfort zone at around $2,330ย but lacks bullish momentum.

Spot Gold rallied on Thursday, returning to its comfort zone at around $2,330, trading just below the level mid-American session. XAU/USD started grinding higher early in Europe, helped by decreased demand for the US Dollar and persistent risk aversion but added the most following the release of mostly encouraging United States (US) macroeconomic figures.

The country reported that ย Durable Goods Orders were up 0.1% MoM, better than the -0.1% expected, and confirmed the Gross Domestic Product (GDP) at 1.4% as expected, slightly above the previous estimate of 1.3%. Also, the country reported that Initial Jobless Claims for the week ended June 21 at 233K, better than the 236K expected, while the June Kansas Fed Manufacturing Activity Index printed at -11, deteriorating from the previous -1.

The improvement in the market sentiment reached Wall Street. Following sharp slides in Asian and European indexes, US ones pushed higher, with the Dow Jones Industrial Average and Nasdaq Composite currently trading in the green and the S&P500 hovering around its opening level. Meanwhile, US government bond yields retreated, with the 10-year note currently offering 4.28%, down 3 basis points (bps) in the day.

The focus now shifts to the most relevant US macroeconomic report, the Personal Consumption Expenditures (PCE) Price Index. The Federal Reserveโ€™s (Fed) favorite inflation gauge will be released on Fridayย and is expected to show inflation was up 2.6% YoY in May, slightly below the previous 2.7%. Easing inflationary pressures should boost hopes for a soon-to-come rate cut in the US and lead to a USD decline. Still, as markets may become optimistic, the chance of an XAU/USD rally is limited.

XAU/USD short-term technical outlook

XAU/USD hovers around $2,325, and the daily chart shows a limited bullish potential. The pair is meeting sellers at around a mildly bearish 20 Simple Moving Average (SMA), now at around $2,327.60. Technical indicators, in the meantime, turned higher, but remain within neutral levels, with the Relative Strength Index (RSI) indicator battling to overcome its 50 level. The 100 and 200 SMAs, in the meantime, maintain their bullish slopes below the current level, with the shorter one providing dynamic support at around $2,252.40.

According to the 4-hour chart, XAU/USD is neutral in the near term. Technical indicators bounced from their recent lows but turned flat around their midlines, reflecting decreased buying interest. At the same time, the intraday advance stalled around a flat 100 SMA, although the bright metal recovered above a now flat 20 SMA. Gold may find some upward strength in higher-than-anticipated US inflation figures, spurring risk-aversion.

Support levels: 2,308.30 2,293.50 2,279.60 ย 

Resistance levels: 2,327.60 2,337.00 2,345.20ย 

XAU/USD Current price: $2,326.08

  • Generally encouraging United States data put pressure on the US Dollar.
  • The US will release the Personal Consumption Expenditures Price Index on Friday.
  • XAU/USD returned to its comfort zone at around $2,330ย but lacks bullish momentum.

Spot Gold rallied on Thursday, returning to its comfort zone at around $2,330, trading just below the level mid-American session. XAU/USD started grinding higher early in Europe, helped by decreased demand for the US Dollar and persistent risk aversion but added the most following the release of mostly encouraging United States (US) macroeconomic figures.

The country reported that ย Durable Goods Orders were up 0.1% MoM, better than the -0.1% expected, and confirmed the Gross Domestic Product (GDP) at 1.4% as expected, slightly above the previous estimate of 1.3%. Also, the country reported that Initial Jobless Claims for the week ended June 21 at 233K, better than the 236K expected, while the June Kansas Fed Manufacturing Activity Index printed at -11, deteriorating from the previous -1.

The improvement in the market sentiment reached Wall Street. Following sharp slides in Asian and European indexes, US ones pushed higher, with the Dow Jones Industrial Average and Nasdaq Composite currently trading in the green and the S&P500 hovering around its opening level. Meanwhile, US government bond yields retreated, with the 10-year note currently offering 4.28%, down 3 basis points (bps) in the day.

The focus now shifts to the most relevant US macroeconomic report, the Personal Consumption Expenditures (PCE) Price Index. The Federal Reserveโ€™s (Fed) favorite inflation gauge will be released on Fridayย and is expected to show inflation was up 2.6% YoY in May, slightly below the previous 2.7%. Easing inflationary pressures should boost hopes for a soon-to-come rate cut in the US and lead to a USD decline. Still, as markets may become optimistic, the chance of an XAU/USD rally is limited.

XAU/USD short-term technical outlook

XAU/USD hovers around $2,325, and the daily chart shows a limited bullish potential. The pair is meeting sellers at around a mildly bearish 20 Simple Moving Average (SMA), now at around $2,327.60. Technical indicators, in the meantime, turned higher, but remain within neutral levels, with the Relative Strength Index (RSI) indicator battling to overcome its 50 level. The 100 and 200 SMAs, in the meantime, maintain their bullish slopes below the current level, with the shorter one providing dynamic support at around $2,252.40.

According to the 4-hour chart, XAU/USD is neutral in the near term. Technical indicators bounced from their recent lows but turned flat around their midlines, reflecting decreased buying interest. At the same time, the intraday advance stalled around a flat 100 SMA, although the bright metal recovered above a now flat 20 SMA. Gold may find some upward strength in higher-than-anticipated US inflation figures, spurring risk-aversion.

Support levels: 2,308.30 2,293.50 2,279.60 ย 

Resistance levels: 2,327.60 2,337.00 2,345.20ย 



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27 06, 2024

XAU/USD back to its comfort zone around $2,330

By |2024-06-27T21:09:03+03:00June 27, 2024|Forex News, News|0 Comments


XAU/USD Current price: $2,326.08

  • Generally encouraging United States data put pressure on the US Dollar.
  • The US will release the Personal Consumption Expenditures Price Index on Friday.
  • XAU/USD returned to its comfort zone at around $2,330ย but lacks bullish momentum.

Spot Gold rallied on Thursday, returning to its comfort zone at around $2,330, trading just below the level mid-American session. XAU/USD started grinding higher early in Europe, helped by decreased demand for the US Dollar and persistent risk aversion but added the most following the release of mostly encouraging United States (US) macroeconomic figures.

The country reported that ย Durable Goods Orders were up 0.1% MoM, better than the -0.1% expected, and confirmed the Gross Domestic Product (GDP) at 1.4% as expected, slightly above the previous estimate of 1.3%. Also, the country reported that Initial Jobless Claims for the week ended June 21 at 233K, better than the 236K expected, while the June Kansas Fed Manufacturing Activity Index printed at -11, deteriorating from the previous -1.

The improvement in the market sentiment reached Wall Street. Following sharp slides in Asian and European indexes, US ones pushed higher, with the Dow Jones Industrial Average and Nasdaq Composite currently trading in the green and the S&P500 hovering around its opening level. Meanwhile, US government bond yields retreated, with the 10-year note currently offering 4.28%, down 3 basis points (bps) in the day.

The focus now shifts to the most relevant US macroeconomic report, the Personal Consumption Expenditures (PCE) Price Index. The Federal Reserveโ€™s (Fed) favorite inflation gauge will be released on Fridayย and is expected to show inflation was up 2.6% YoY in May, slightly below the previous 2.7%. Easing inflationary pressures should boost hopes for a soon-to-come rate cut in the US and lead to a USD decline. Still, as markets may become optimistic, the chance of an XAU/USD rally is limited.

XAU/USD short-term technical outlook

XAU/USD hovers around $2,325, and the daily chart shows a limited bullish potential. The pair is meeting sellers at around a mildly bearish 20 Simple Moving Average (SMA), now at around $2,327.60. Technical indicators, in the meantime, turned higher, but remain within neutral levels, with the Relative Strength Index (RSI) indicator battling to overcome its 50 level. The 100 and 200 SMAs, in the meantime, maintain their bullish slopes below the current level, with the shorter one providing dynamic support at around $2,252.40.

According to the 4-hour chart, XAU/USD is neutral in the near term. Technical indicators bounced from their recent lows but turned flat around their midlines, reflecting decreased buying interest. At the same time, the intraday advance stalled around a flat 100 SMA, although the bright metal recovered above a now flat 20 SMA. Gold may find some upward strength in higher-than-anticipated US inflation figures, spurring risk-aversion.

Support levels: 2,308.30 2,293.50 2,279.60 ย 

Resistance levels: 2,327.60 2,337.00 2,345.20ย 



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27 06, 2024

Natural Gas Price Forecast: Will the Uptrend Continue?

By |2024-06-27T00:58:44+03:00June 27, 2024|Forex News, News|0 Comments


20-Day Line Tells a Story

The relationship to the price of natural gas and the 20-Day MA tells a story over the past few days. Notice that Monday ended above the 20-Day line and yesterdayโ€™s close was below the 20-Day line. At the time of this writing natural gas is on track to close weak, in the lower third of the dayโ€™s range and again below the 20-Day line. Since the line had shown support during the trendโ€™s rise, successful tests of the 20-Day line as resistance continue to keep the possibility of a deeper retracement as a possibility.

Further Weakness Below 2.635

A break below Mondayโ€™s low of 2.635 is a sign of weakness, and it opens the door to a deeper retracement. However, a dip below Tuesdayโ€™s low of 2.70 will provide an earlier signal of pending weakness. On the downside, the initial target is the 200-Day MA, currently at 2.47. Also, the 50-Day MA is a little lower than the 200-Day line at 2.43.

Recovery from Shallow Retracement is Bullish

Notice that Mondayโ€™s low found support near the 78.6% Fibonacci retracement level of the internal upswing. However, the larger upswing has a minimum 38.2% Fibonacci retracement of the full trend 2.55. It provides a potential support area that is above the 200-Day line. The fact that the recent retracement found buyers before testing support of the 38.2% Fibonacci level is a sign of strength. That is, if it follows through with additional bullish signals. Once there is a daily close above 2.95, natural gas would have cleared an important price level to indicate that the trend is indeed improving.

For a look at all of todayโ€™s economic events, check out ourย economic calendar.



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26 06, 2024

Coffee Shop Market Trends and Forecast 2024-2030: Exploring

By |2024-06-26T22:57:29+03:00June 26, 2024|Forex News, News|0 Comments


Coffee Shop Market

๐‚๐จ๐Ÿ๐Ÿ๐ž๐ž ๐’๐ก๐จ๐ฉ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐†๐ซ๐จ๐ฐ๐ญ๐ก ๐จ๐ซ ๐ƒ๐ž๐ฆ๐š๐ง๐ ๐ˆ๐ง๐œ๐ซ๐ž๐š๐ฌ๐ž ๐จ๐ซ ๐ƒ๐ž๐œ๐ซ๐ž๐š๐ฌ๐ž ๐Ÿ๐จ๐ซ ๐ฐ๐ก๐š๐ญ ๐œ๐จ๐ง๐ญ๐š๐ข๐ง๐ฌ??The popularity of coffee as a globally traded commodity, second only to oil, underscores its economic significance. Rising urban populations with increased disposable incomes are driving demand for specialty and mass-market coffee offerings. This trend is particularly prominent in tier 1 and tier 2 cities, where a blend of affordability and quality drives consumer preferences.

Specialty coffee shops, offering exotic blends and premium experiences, are gaining traction among discerning consumers seeking unique coffee experiences. Moreover, the shift towards remote work has spurred demand for cafes offering amenities like free internet and comfortable seating, positioning them as alternatives to traditional office spaces.

๐Œ๐š๐ซ๐ค๐ž๐ญ ๐†๐ซ๐จ๐ฐ๐ญ๐ก ๐„๐ฌ๐ญ๐ข๐ฆ๐š๐ญ๐ž:

Coffee Shop Market size was valued at US$ 212.97 Bn. in 2023 and the total revenue is expected to grow at 3.5% through 2024 to 2030, reaching nearly US$ 270.95 Bn.

๐’๐š๐ฆ๐ฉ๐ฅ๐ž ๐‘๐ž๐ช๐ฎ๐ž๐ฌ๐ญ ๐‘๐ž๐ฉ๐จ๐ซ๐ญ ๐‹๐ข๐ง๐ค ๐ƒ๐ž๐ญ๐š๐ข๐ฅ๐ฌ ๐‚๐ฅ๐ข๐œ๐ค ๐‡๐ž๐ซ๐ž: https://www.maximizemarketresearch.com/request-sample/113030/

๐‚๐จ๐Ÿ๐Ÿ๐ž๐ž ๐’๐ก๐จ๐ฉ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐’๐ž๐ ๐ฆ๐ž๐ง๐ญ๐š๐ญ๐ข๐จ๐ง

๐›๐ฒ ๐“๐ฒ๐ฉ๐ž

Specialty Coffee Shop

Mass Market

The mass market section of the coffee shop industry dominates the global market by having the largest customer base for reasonably priced coffee, which is typically purchased in raw form from nearby grocery stores, cafรฉs, and restaurants. The mass market has enormous potential because there is a sizable consumer base that can afford to pay US$ 1.50-3.50, which is a highly sought-after price range for coffee. Specialty coffee shops cater to a certain customer base and are considered high-end, offering the most unusual coffee options at a premium price point. However, the trend of specialty coffee shops is increasing as blue-sky businesses create massive chains at reasonable prices to get into the mass market.

๐›๐ฒ ๐‚๐ข๐ญ๐ฒ ๐’๐ข๐ณ๐ž

Metropolitan

Urban

Rural

๐‚๐จ๐Ÿ๐Ÿ๐ž๐ž ๐’๐ก๐จ๐ฉ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐‘๐ž๐ฉ๐จ๐ซ๐ญ ๐Ž๐ฏ๐ž๐ซ๐ฏ๐ข๐ž๐ฐ

Coffee shops have become integral social hubs, offering more than just a caffeine fix. They serve as venues for socializing, business meetings, and remote workspaces, catering to a diverse clientele seeking quality coffee and conducive environments.

๐‘๐ž๐ช๐ฎ๐ž๐ฌ๐ญ ๐๐ƒ๐… ๐’๐š๐ฆ๐ฉ๐ฅ๐ž ๐‚๐จ๐ฉ๐ฒ ๐จ๐Ÿ ๐‘๐ž๐ฉ๐จ๐ซ๐ญ: (๐ˆ๐ง๐œ๐ฅ๐ฎ๐๐ข๐ง๐  ๐…๐ฎ๐ฅ๐ฅ ๐“๐Ž๐‚, ๐‹๐ข๐ฌ๐ญ ๐จ๐Ÿ ๐“๐š๐›๐ฅ๐ž๐ฌ & ๐…๐ข๐ ๐ฎ๐ซ๐ž๐ฌ, ๐‚๐ก๐š๐ซ๐ญ) : https://www.maximizemarketresearch.com/request-sample/113030/

๐‚๐จ๐Ÿ๐Ÿ๐ž๐ž ๐’๐ก๐จ๐ฉ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐†๐ซ๐จ๐ฐ๐ญ๐ก ๐จ๐ซ ๐ƒ๐ž๐ฆ๐š๐ง๐ ๐ข๐ง ๐ฐ๐ก๐ข๐œ๐ก ๐ซ๐ž๐ ๐ข๐จ๐ง๐ฌ??

North America: Leads the global market with significant coffee shop revenues in the US, supported by a dense network of cafes and robust consumer demand. Major chains like Starbucks continue to dominate, despite challenges posed by the COVID-19 pandemic.

Europe: Shows rapid growth with a burgeoning coffee culture and increasing consumer preference for specialty coffee. The region’s high import volume of green coffee underscores its evolving market dynamics and potential for further expansion.

Asia Pacific: Witnessing substantial growth, driven by emerging markets like China and India. China’s market is poised to reach 47.9 billion Yuan by 2023, reflecting increasing urbanization and coffee consumption trends.

Competitive Landscape:

Key players like Starbucks and CCD are innovating with new product offerings and expanding their global footprint. Innovations in packaging, sustainability practices, and customer experience enhancements are pivotal in shaping market dynamics and consumer preferences.

๐‚๐จ๐Ÿ๐Ÿ๐ž๐ž ๐’๐ก๐จ๐ฉ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐Š๐ž๐ฒ ๐๐ฅ๐š๐ฒ๐ž๐ซ๐ฌ

1. The Kraft Heinz Company

2. The Coca-cola company

3. JM Smucker Company

4. JAB Holding Company

5. Starbucks

6. McCafe

7. Tully’s coffee

8. Ediya Espresso

9. Gloria Jean’s coffees

10. Caribou Coffee

11. Caffe Nero

12. Doutor coffee

13. Coffee bean and Tea leaf

14. Nestle SA

๐‚๐จ๐Ÿ๐Ÿ๐ž๐ž ๐’๐ก๐จ๐ฉ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐‘๐ž๐ฉ๐จ๐ซ๐ญ ๐’๐œ๐จ๐ฉ๐ž ๐š๐ง๐ ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก ๐Œ๐ž๐ญ๐ก๐จ๐๐จ๐ฅ๐จ๐ ๐ฒ

Market Research Report on Coffee Shop Market capabilities an investigation approximately this marketplace and its numerous factors having an effect on the marketplace and ecosystem. This report educates stakeholders on the investment feasibility, market competition, and key players of the Coffee Shop market. The report covers the sector from a qualitative and quantitative information perspective. The report covers a competitive analysis of the Coffee Shop market. It provides a comprehensive list and includes an in-depth explanation for each requirement. Research uncovers a long list of primary and secondary sources used in Coffee Shop Market analysis, such as governmental organizations, customer feedback, journals, and whitepapers.

๐…๐จ๐ซ ๐Œ๐จ๐ซ๐ž ๐ˆ๐ง๐Ÿ๐จ๐ซ๐ฆ๐š๐ญ๐ข๐จ๐ง ๐จ๐ซ ๐๐ฎ๐ž๐ซ๐ฒ, ๐•๐ข๐ฌ๐ข๐ญ @ : https://www.maximizemarketresearch.com/market-report/global-coffee-shop-market/113030/

๐Š๐ž๐ฒ ๐ช๐ฎ๐ž๐ฌ๐ญ๐ข๐จ๐ง๐ฌ ๐š๐ง๐ฌ๐ฐ๐ž๐ซ๐ž๐ ๐ข๐ง ๐ญ๐ก๐ž ๐‚๐จ๐Ÿ๐Ÿ๐ž๐ž ๐’๐ก๐จ๐ฉ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐š๐ซ๐ž:

What is Coffee Shop?

What will be the CAGR at which the Coffee Shop market will grow?

What is the growth rate of the Coffee Shop Market?

Which are the factors expected to drive the Coffee Shop market growth?

What are the different segments of the Coffee Shop Market?

What growth strategies are the players considering to increase their presence in Coffee Shop?

What are the upcoming industry applications and trends for the Coffee Shop Market?

What are the recent industry trends that can be implemented to generate additional revenue streams for the Coffee Shop Market?

Who are the leading companies and what are their portfolios in Coffee Shop Market?

What segments are covered in the Coffee Shop Market?

๐Š๐ž๐ฒ ๐Ž๐Ÿ๐Ÿ๐ž๐ซ๐ข๐ง๐ ๐ฌ:

Past Market Size and Competitive Landscape

Past Pricing and price curve by region

Market Size, Share, Size & Forecast by different segment

Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region

Market Segmentation – A detailed analysis by segment with their sub-segments and Region

Competitive Landscape – Profiles of selected key players by region from a strategic perspective

Competitive landscape – Market Leaders, Market Followers, Regional player

Competitive benchmarking of key players by region

PESTLE Analysis

PORTER’s analysis

Value chain and supply chain analysis

Legal Aspects of Business by Region

Lucrative business opportunities with SWOT analysis

Recommendations

๐€๐๐๐ข๐ญ๐ข๐จ๐ง๐š๐ฅ ๐‘๐ž๐ฅ๐ž๐ฏ๐š๐ง๐ญ ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก ๐‘๐ž๐ฉ๐จ๐ซ๐ญ ๐’๐ฎ๐›๐ฃ๐ž๐œ๐ญ๐ฌ:

โ™ฆ Tube Filling Machine Market: https://www.maximizemarketresearch.com/market-report/tube-filling-machines-market/148306/

โ™ฆ Global Variable Displacement Pumps Market: https://www.maximizemarketresearch.com/market-report/global-variable-displacement-pumps-market/25544/

โ™ฆ Grid Connected PV Systems Market: https://www.maximizemarketresearch.com/market-report/grid-connected-pv-systems-market/66884/

โ™ฆ Oil and Gas Waste Heat Recovery Market: https://www.maximizemarketresearch.com/market-report/oil-and-gas-waste-heat-recovery-market/71655/

โ™ฆ Adaptive Water Management Solution Market: https://www.maximizemarketresearch.com/market-report/adaptive-water-management-solution-market/66977/

โ™ฆ Marine Electrical Consumables Market: https://www.maximizemarketresearch.com/market-report/marine-electrical-consumables-market/71348/

โ™ฆ Global Land Incineration Plants Market: https://www.maximizemarketresearch.com/market-report/land-incineration-plants-market/12280/

โ™ฆ Global Fire Protection Valves and Fittings Market: https://www.maximizemarketresearch.com/market-report/global-fire-protection-valves-fittings-market/22982/

โ™ฆ Global Seed Drills Market: https://www.maximizemarketresearch.com/market-report/global-seed-drills-market/22765/

โ™ฆ Global Turbine Gearbox for Thermal Power Market: https://www.maximizemarketresearch.com/market-report/global-turbine-gearbox-for-thermal-power-market/77626/

Contact Maximize Market Research:

3rd Floor, Navale IT Park, Phase 2

Pune Banglore Highway, Narhe,

Pune, Maharashtra 411041, India

sales@maximizemarketresearch.com

+91 96071 95908, +91 9607365656

About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

This release was published on openPR.



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26 06, 2024

XAU/USD battles to retain the $2,300 mark

By |2024-06-26T20:56:46+03:00June 26, 2024|Forex News, News|0 Comments


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XAU/USD Current price: $2,301.49

  • Firmer US Treasury yields provide an additional impulse to the US Dollar.
  • Stock markets remain in the red, reflecting the dismal market mood.
  • XAU/USD maintains the downward route and challenges the $2,300 threshold.

XAU/USD bearish momentum accelerated on Wednesday, and the bright metal trades at around $2,300.00 a troy ounce mid-American afternoon, with the US Dollar firmer against all major rivals. As reflected by stock markets, a poor market mood remains behind the Greenbackโ€™s broad strength. European indexes closed in the red, while Wall Street is also in a bearish route. The Nasdaq Composite is an exception, posting modest gains amid NVIDIA’s comeback, underpinning the tech sector since the beginning of the day.

Firmer government bond yields contributed to the XAU/USD slide. The United States (US) 10-year Treasury note currently offers 4.31%, up 7 basis points (bps) in the day, while the 2-year note yields 4.74%, up 5 bps.

Regarding the US Dollar, it also found strength in market talks, suggesting the Federal Reserve (Fed) will likely deliver just a 25 bps interest rate cut before year-end, far from the roughly 100 bps trim anticipated earlier in the year.

Data-wise, US figures kept disappointing. The country released May New Home Sales, which fell a whopping 11.3% in the month. The country will release more interesting macroeconomic figures on Thursday, as the calendar includes May Durable Goods Orders, the final estimate of Q1 Gross Domestic Product (GDP), weekly unemployment figures and the May Goods Trade Balance.

XAU/USD short-term technical outlook

XAU/USD slid for a second consecutive day, reaching an intraday low of $2,293.54 during US trading hours. From a technical point of view, the risk of a bearish extension has increased. The daily chart shows the pair is below a mildly bearish 20 Simple Moving Average (SMA) ย while slowly but steadily getting closer to a bullish 100 SMA, currently at $2,249.60. At the same time, technical indicators head firmly south within negative levels and far from signaling downward exhaustion, supporting the case of another leg south.

The case for a bearish continuation is even stronger in the near term. The 4-hour chart shows XAU/USD has fallen below all its moving averages, while a firmly bearish 20 SMA crossed below a flat 100 SMA, usually a sign of persistent selling interest. At the same time, the Momentum indicator turned south after failing to overcome its midline, maintaining a clear downward slope. Finally, the Relative Strength Index (RSI) indicator accelerated south, now hovering around 30 with no signs of changing course.

Support levels: 2,293.50 2,279.60 2,265.60

Resistance levels: 2,316.60 2,329.50 2,337.00

XAU/USD Current price: $2,301.49

  • Firmer US Treasury yields provide an additional impulse to the US Dollar.
  • Stock markets remain in the red, reflecting the dismal market mood.
  • XAU/USD maintains the downward route and challenges the $2,300 threshold.

XAU/USD bearish momentum accelerated on Wednesday, and the bright metal trades at around $2,300.00 a troy ounce mid-American afternoon, with the US Dollar firmer against all major rivals. As reflected by stock markets, a poor market mood remains behind the Greenbackโ€™s broad strength. European indexes closed in the red, while Wall Street is also in a bearish route. The Nasdaq Composite is an exception, posting modest gains amid NVIDIA’s comeback, underpinning the tech sector since the beginning of the day.

Firmer government bond yields contributed to the XAU/USD slide. The United States (US) 10-year Treasury note currently offers 4.31%, up 7 basis points (bps) in the day, while the 2-year note yields 4.74%, up 5 bps.

Regarding the US Dollar, it also found strength in market talks, suggesting the Federal Reserve (Fed) will likely deliver just a 25 bps interest rate cut before year-end, far from the roughly 100 bps trim anticipated earlier in the year.

Data-wise, US figures kept disappointing. The country released May New Home Sales, which fell a whopping 11.3% in the month. The country will release more interesting macroeconomic figures on Thursday, as the calendar includes May Durable Goods Orders, the final estimate of Q1 Gross Domestic Product (GDP), weekly unemployment figures and the May Goods Trade Balance.

XAU/USD short-term technical outlook

XAU/USD slid for a second consecutive day, reaching an intraday low of $2,293.54 during US trading hours. From a technical point of view, the risk of a bearish extension has increased. The daily chart shows the pair is below a mildly bearish 20 Simple Moving Average (SMA) ย while slowly but steadily getting closer to a bullish 100 SMA, currently at $2,249.60. At the same time, technical indicators head firmly south within negative levels and far from signaling downward exhaustion, supporting the case of another leg south.

The case for a bearish continuation is even stronger in the near term. The 4-hour chart shows XAU/USD has fallen below all its moving averages, while a firmly bearish 20 SMA crossed below a flat 100 SMA, usually a sign of persistent selling interest. At the same time, the Momentum indicator turned south after failing to overcome its midline, maintaining a clear downward slope. Finally, the Relative Strength Index (RSI) indicator accelerated south, now hovering around 30 with no signs of changing course.

Support levels: 2,293.50 2,279.60 2,265.60

Resistance levels: 2,316.60 2,329.50 2,337.00



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