XAUUSD Gold price is moving in the Descending channel and the market has rebounded from the horizontal support area of the minor Box Pattern.
Pakistan is currently facing a shortage in produce due to the floods that destroyed majority of the crops in the region. As a result, Pakistan is now looking to import almost 300K tons of Wheat from Russia. This decision is being frowned upon by the international community.
USDCHF has broken the Ascending channel in Downside.
Switzerland has been accused by border control agents in the EU for allowing migrants to exist the country into other EU states without the necessary documentation. This is especially the case of migrants coming from Austria who are able to travel to other regions now.
GBPUSD is moving in the Rising wedge pattern and the market has rebounded from the higher low area of the pattern.
Ever since the boom in crypto, the majority of world leaders have been trying to stay away from this mode of transaction. However, the new PM of the UK Rishi Sunak has actually embraced the crypto trade, and it seems like the UK might be leading in this industry very soon.
AUDUSD is moving in an Ascending channel and the market has rebounded from the higher low area of the channel.
The Reserve Bank of Australia has recently revealed their new interest rates for the term. It was revealed they raised their rates by a quarter point which shows they are going the slow method. This is the second time in a row the rates were raised by 25 basis points.
NZDUSD is moving in an Ascending channel and the market has rebounded from the higher low area of the channel.
It is a big day for New Zealand as they are ready to face one of their familiar foes on the battleground in a cricket match against England. Fans expect that England will take the crown in the end due to past history with this team however, the community remains optimistic.
EURGBP is moving in the Descending channel and the market has reached the lower high area of the channel.
We recently revealed how Russia has decided to retract its contract of supplying grain to the EU countries. It is now revealed that the EU is practically begging Russia to recontinue their agreement. However, Russia may now require some removal of sanctions for this to happen.
EURJPY is moving in an Ascending channel and the market has reached the higher low area of the channel.
Japan has been among the few countries that hold a very mixed stance with Russia. While Japan supports Ukraine in the war crimes it has to face, it is still continuing to hold trade agreements with the Kremlin. Japan is still an investor in Russian oil today.
CADCHF is moving in the Descending channel and the market has reached the lower high area of the channel.
Recently we talked about how international students in Canada can now work full time due to labor shortages. These students have come out revealing that Canada is exploiting them for cheap labor by not paying them enough wages to survive in the country.
CADJPY has broken the ascending channel in Downside.
Many island flights have been put on hold since the pandemic since they were deemed unnecessary. However, Air Canada recently revealed that they are going to be resuming flights to Cuba once again. This decision is met with delight as this is a popular vacation spot.
Crude Oil Analysis
Crude Oil is moving in an Ascending channel and the market has rebounded from the higher low area of the channel.
Even though real estate is meant to be one of the safest assets to invest in since it almost certainly increased in value, this has not been the case for China. Chinese properties are now facing depreciating due to falling market demands as a result of the pandemic and inflation.
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