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New Zealand’s services sector remained mired in contraction in September, with BNZ Performance of Services Index edging up modestly from 47.6 to 48.3. While the improvement marks a slight lift in momentum, the index has now stayed below the 50-point expansion threshold for 19 consecutive months. Activity and sales rose to 47.8, and new orders […]
The post NZ BNZ services at 48.3, contracts for 19th month as signs of strain persist appeared first on Action Forex.
It was a busy week in global markets. The Japanese yen weakened sharply after Sanae Takaichi won the ruling party leadership vote. In the U.S., the Federal Reserve’s meeting minutes showed that most officials support more interest rate cuts in 2025 because of a weaker job market. Fed Chair Jerome Powell said inflation is still […]
The post Gold Breaks Record While Yen Slides After Japan’s Political Shift appeared first on Action Forex.
AUDUSD: ⬇️ Sell AUDUSD broke support level 0.6525 Likely to fall to support level 0.6410 AUDUSD currency pair recently broke the support zone between the support level 0.6525 (low of wave (1) from September), 61.8% Fibonacci correction of the upward impulse (C) from August and the support trendline from April. The breakout of this support […]
The post AUDUSD Wave Analysis appeared first on Action Forex.
NZDUSD: ⬇️ Sell NZDUSD broke support zone Likely to fall to support level 0.5660 NZDUSD currency pair recently broke the support zone between the support level 0.5750 (which reversed the price in September) and the support trendline of the daily down channel from June. The breakout of this support zone should accelerate the active impulse […]
The post NZDUSD Wave Analysis appeared first on Action Forex.
At Monday open:
Hong Kong stocks open lower:
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This in relation to renewed tensions with Trump.
Late Friday:
China responds over the weekend:
Some TACO moves already, some murmurings of Trump already backing off. BRB with more on this:
Latest:
This article was written by Eamonn Sheridan at investinglive.com.
Dow Jones index: ⬇️ Sell Dow Jones index broke daily up channel from Likely to fall to support level 45470.00 Dow Jones index recently broke the daily up channel from end of July – which was preceded by the downward reversal from the key resistance level 46775.00 (former monthly high from last month). The breakout […]
The post Dow Jones Index Wave Analysis appeared first on Action Forex.
Australian Tesla owners have launched a class action lawsuit accusing the company of failing to deliver promised self-driving features on vehicles sold before 2024.
A lwyer for the legal firm representing owners said “thousands of Australians” have joined the proceedings, arguing that Tesla’s marketing overstated its vehicles’ capabilities and that many owners paid for upgrades that were never delivered
The dispute traces back to 2016, when Tesla said all cars leaving its factories from October that year included the hardware required for Full Self-Driving. However, that capability remains unavailable for many Australian owners nearly a decade later.
Tesla declined to comment on the case.
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The lawsuit adds to growing legal and regulatory scrutiny of Tesla’s autonomous-driving claims, potentially denting consumer trust and raising costs for the automaker in one of its key Asia-Pacific markets.
This article was written by Eamonn Sheridan at investinglive.com.
The People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate within a certain range, called a “band,” around a central reference rate, or “midpoint.” It’s currently at +/- 2%.
The previous close was 7.1360
Today’s mid rate is the strongest for CNY since November 6 last year.
In Open market operations (OMOs) the PBOC inject 137.8bn yuan at an unchanged rate of 1.4%
Note that the PBoC also injected 116bn yuan via 7-day RRs at 1.4% over the weekend. On Saturday.
This article was written by Eamonn Sheridan at investinglive.com.
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