The dollar has been hovering around five-week lows due to Federal Reserve Chair Jerome Powell’s recent comments indicating a potential rate cut in September. Powell’s remarks regarding U.S. inflation readings and the need for sustainable price increases have shifted market expectations towards a rate cut. The dollar index, measuring the U.S. unit against its peers,
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Bitcoin prices experienced a resurgence over the weekend, breaking above the $60,000 mark and overcoming several key technical barriers in the process. The recent inflow of $1.04 billion into Bitcoin Spot ETFs underscores the growing confidence among investors in the cryptocurrency market. This influx of capital suggests a potential short-term uptrend in Bitcoin’s price, signaling
Following the attempted assassination of former President Donald Trump at a Pennsylvania rally, the leaders of Wall Street’s most powerful firms have come forward to denounce the act of violence. JPMorgan Chase CEO Jamie Dimon expressed deep sadness over the incident and emphasized the need to stand together against hate and violence that threaten democracy.
The Nikkei 225 index, also known as Japan 225 on FXOpen, has shown a significant upward trend in recent weeks as indicated by the blue channel on the chart. The price surged above 42,500 points on 10th July, marking a yearly high. However, the gains from 9-10 July were completely offset as the bears made
Goldman Sachs recently reported an impressive second-quarter profit and revenue, surpassing analyst estimates. However, one area where the company fell short was in its investment banking division. While investment banking fees rose by 21% to $1.73 billion, it was slightly below the $1.8 billion StreetAccount estimate. The main reason for this miss was the lower-than-expected
The cable maintained its bullish tone on Monday, reaching a new yearly high just below the psychological barrier of 1.30. However, after a strong advance in the past two weeks, bulls may start to lose traction as they face resistance at the 1.30 level. Daily studies suggest that the market is overbought, and the 14-day
As we begin the week, the financial markets are treading cautiously in response to reports of an assassination attempt on former President Donald Trump. This unsettling news has put investors on edge, leading to a subdued start to trading activities. Moreover, the economic calendar for the day does not feature any high-impact data releases, further
China’s highly anticipated policy meeting, the Third Plenum, is set to begin today, July 15th, and will run through Thursday, July 18th. This gathering holds significant importance, as past Third Plenums have led to major transformative periods in China’s economic policies. Notable examples include the bold move towards economic reform in 1978 under Deng Xiaoping’s
Pakistan’s benchmark share index experienced a significant increase of 1.44% on Monday, reaching a new record high following the announcement of a staff level agreement (SLA) between the International Monetary Fund (IMF) and Pakistan. This agreement entails a $7 billion, 37-month loan program that aims to provide much-needed financial stability to the country. The negotiations
China, the world’s second-largest economy, experienced a slowdown in the second quarter of the year. Official data revealed that the economy only grew by 4.7% in April-June, marking its slowest growth since the first quarter of 2023. This figure fell short of analysts’ expectations of a 5.1% growth, as projected in a Reuters poll. The
China’s National Bureau of Statistics recently released data showing that the country’s second-quarter GDP rose by 4.7% year on year, falling short of expectations of a 5.1% growth as per a Reuters poll. This figure indicates a slower economic recovery than anticipated, raising concerns about the pace of China’s post-pandemic rebound. In addition to the
The gold price has been on a downward trend, currently trading around $2,405 in the early Asian session. The unexpected acceleration of the US PPI in June has contributed to this decline, marking the highest rate since March 2023. This increase in wholesale price inflation in the United States has put pressure on the precious