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Russia’s central bank made a significant move by increasing its key interest rate by 200 basis points to 18% on Friday. This decision was driven by concerns about high inflation and an overheated economy. As a result, the cost of borrowing has reached its highest level in more than two years. The central bank also
GBPJPY recently experienced a pullback from its 16-year peak of 208.10, marking its lowest level since May 16. The pair has been on an uptrend since early 2024, hitting a high on July 11. However, the price has since violated both the supportive trendline from January and the 50-day SMA. This indicates a potential downward
The financial markets have been experiencing mixed actions, which has led investors to adopt a cautious stance on Friday. The upcoming economic data releases, particularly the Personal Consumption Expenditures (PCE) Price Index data and the revisions to the July Consumer Sentiment Index, are being closely monitored for insights into the state of the economy. The
As Wall Street prepares to wrap up a challenging week, all eyes are on the Federal Reserve’s preferred gauge of inflation. The personal consumption expenditures (PCE) price index is expected to reflect a 0.1% month-over-month increase, with an annualized figure of 2.5%, closely aligning with the Fed’s 2% target. Analysts at JPMorgan anticipate a 0.2%
The cryptocurrency market is experiencing a significant milestone this week, as spot ether exchange-traded funds (ETFs) have made their debut. This development marks a historic moment for investors and the overall landscape of digital assets. One of the nine spot ether ETF applicants that received approval from the Securities and Exchange Commission is Franklin Templeton.
The USD/JPY pair experienced a significant decline, dropping below key support levels before finding some relief near the 152.00 mark. A major bearish trend line is being formed with resistance at 155.50 on the 4-hour chart. The pair broke through the 156.50 support level, signaling a move into a bearish zone. It further dropped below
Over the past six trading days, Berkshire Hathaway, led by Warren Buffet, has been consistently reducing its stake in Bank of America. The conglomerate has sold a total of 52.8 million Bank of America shares, amounting to $2.3 billion in value, resulting in the stake being lowered to 12.5%. Possible Valuation Concerns Buffet’s decision to
The GBP/USD currency pair is currently experiencing a decline, mainly due to the speculation of a Bank of England (BoE) rate cut and concerns about global growth. Market participants are actively pricing in a 53% chance of rate cuts in August, with economists predicting an even higher probability of 80% for a rate cut. This
Sotheby’s, the renowned auction house, is making waves in Hong Kong with the launch of its first retail outlet. This innovative concept showcases a diverse range of items, from collectible trainers to dinosaur fossils, at prices starting from just a few hundred dollars. Changing Market Dynamics The decision to venture into retail comes at a
Gold price has been on a downward spiral for the second consecutive day, reaching a two-week low. While technical selling may be one of the reasons behind this decline, it is expected to remain limited. The looming possibility of a rate cut by the Federal Reserve in September, coupled with a prevailing risk-off sentiment, could
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