Hong Kong has built up a gilt-edged reputation as one of the world's most reputable financial market centres. The city of Hong Kong enjoyed a unique position for many years. It is situated in the Asia Pacific region, very close to Shenzhen in mainland China, whilst being a global investment and banking leviathan. Hong Kong's stature as the 'New York of the East' alluded to the investment banking sector, global institutional trading venues and currency clearing capacity, which stood it out as a gateway to the world for Chinese companies as well as a gateway to the Eastern markets for European ..read more

The Consumer Price Index for Australia was released this morning. According to ForexFactory: → CPI in quarterly terms: actual = 1.0%, expected = 0.8%, previous value = 0.6%; → CPI in annual terms: actual = 3.5%, expected = 3.4%, previous value = 3.4%. Rising inflation figures suggest that the Reserve Bank of Australia's tight monetary policy may continue beyond expectations - which is why the Australian dollar has jumped higher relative to other currencies. Thus, from the minimum of the year against the US dollar, recorded on April 19, the Ausssie rose in price by more than 2%. Technical ana ..read more

Yesterday, TSLA trading closed at USD 144.68 per share, after which Tesla reported its results for the 1st quarter: → earnings per share: actual = USD 0.45, forecast = USD 0.49; → gross income: actual = USD 21.45 billion, forecast = USD 22.2 billion. However, in the post-market, TSLA's share price rose approximately 13% thanks to Elon Musk's plans and statements: → We faced numerous challenges in Q1, including the conflict in the Red Sea and the arson attack at the Gigafactory in Berlin. We think the second quarter will be much better. → EV adoption rates around the world are under pressure ..read more

Gold price rallied above $2,400 before correcting lower. Crude oil price is rising and it could climb further higher toward the $85.50 resistance. Important Takeaways for Gold and Oil Prices Analysis Today · Gold price rallied significantly above $2,400 and recently corrected lower against the US Dollar. · It cleared a key bearish trend line with resistance at $2,310 on the hourly chart of gold at FXOpen. · Crude oil prices are moving higher above the $82.00 resistance zone. · There was a break above a connecting bearish trend line with resistance at $82.00 on the hourly chart of XTI/USD at F ..read more

For a number of years now, there has been a lot of discourse over the current situation and the future of the German domestic economy. From both inside Germany and globally, analysts, government officials, and corporate leaders have demonstrated a pessimistic position and, perhaps more interestingly, have done so for a number of years. Germany is the European Union's largest economy and is also the most populous nation in the European Union, and traditionally, it has been a linchpin within mainland Europe due to its strong manufacturing industries, which export renowned products globally. In ..read more

GBP/USD At the end of last week, the British currency fell sharply, testing a significant support level at 1.2300. The resumption of the downward trend for the pair became possible after some statements by British officials: On Wednesday, Bank of England Governor Andrew Bailey said he expects a strong decline in inflation from next month. Dave Ramsden, Deputy Chairman of Markets and Banking, was also quite optimistic, noting that the recently published UK core CPI data was nothing more than a “glitch” in the deflationary process, and risks to sustainability and domestic inflationary pressure ..read more

On Monday, the price of gold fell from USD 2,386 to USD 2,333 per ounce — this is the strongest drop in one day in almost 2 years, according to Bloomberg. On Tuesday morning in the Asian session, the price continued to decline, reaching USD 2,300 per ounce. This happened against the backdrop of: → easing tensions in the Middle East. According to Tehran's official statement, Israel received "the necessary response at this stage." → signs that the Federal Reserve will keep rates high for longer. One of the reasons for the intensification of sales can also be considered the desire to take profit ..read more

The Asia Pacific region has once again become an area of great interest to investors and traders as some remarkable patterns of volatility have begun to make their presence felt. This morning, a few examples of Hong Kong-listed Chinese companies which have made headway are apparent as the Asia Pacific region's trading session spearheaded the beginning of the week ahead for financial markets. One such company is China Pacific Insurance, whose Hong Kong-listed stock is available for trading as a CFD on FXOpen's TickTrader platform. The company has made some remarkable headway over the past few ..read more

On April 19, 2024, a halving occurred in the Bitcoin network, resulting in the reward for the mined block amounting to 3.125 BTC. Historically, after the halving (which is associated with a reduction in supply), the price of Bitcoin heads to all-time highs. But, as Forbes reports, Goldman Sachs analysts warn against extrapolating the results of Bitcoin price movements after past halvings to the current moment. After all, back then, the halvings occurred during a period of loose monetary policy by the Federal Reserve, while this time the Fed is struggling with harsher-than-expected inflation ..read more

Navigating the nuances of Smart Money Concept (SMC) trading requires a keen understanding of market signals like the Change of Character (CHoCH). This concept can help traders detect and react to potential trend reversals. Today, we’ll delve into the mechanics of CHoCHs, explaining how they manifest in different market conditions and how they can be strategically leveraged for trading decisions. Understanding Breaks of Structure Understanding Breaks of Structure (BOS) is essential for traders before delving into concepts like Change of Character (CHoCH). A BOS in trading signifies a continuat ..read more