The recently elected Indonesian President, Prabowo Subianto, has announced a bold economic strategy that involves allowing the nation’s debt-to-GDP ratio to rise to 50%. This decision is contingent upon the administration’s ability to significantly increase tax revenues. According to Prabowo’s brother and adviser, Hashim Djojohadikusumo, Indonesia could maintain its investment-grade rating even with a higher
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Wall Street is abuzz with excitement as a new wave of cryptocurrency exchange-traded funds (ETFs) is set to hit the market. Among these new offerings are spot ether ETFs, which could potentially receive approval from the U.S. Securities and Exchange Commission as early as this week. The upcoming launch has caught the attention of industry
The dollar weakened on Wednesday as Federal Reserve Chair Jerome Powell hinted at potential interest rate cuts in the near future. Powell expressed a desire to see further declines in inflation before making any decisions. This comes ahead of the release of the consumer price index (CPI) data which is expected to show easing prices
After Federal Reserve Chair Jerome Powell’s testimony before the House Financial Services Committee, market observers noted his cautious stance on immediate rate cuts and his persistence in data-driven decision making. Despite signs of disinflation in the US economic outlook, the markets remain confident in a potential rate cut in September. Powell’s reluctance to commit to
In a recent speech to the Asia House think tank in London, Bank of England Chief Economist Huw Pill expressed caution regarding the possibility of an interest rate cut in August. Pill highlighted the strong price pressures in Britain’s economy, stating that services inflation and wage growth displayed “uncomfortable strength.” Despite headline inflation meeting the
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The recent performance of the Australian dollar versus the New Zealand dollar has raised concerns among investors and traders following the release of the latest Reserve Bank of New Zealand (RBNZ) monetary policy statement. The AUD/NZD cross pair has experienced significant fluctuations, with the Kiwi being labeled as the worst intraday performer among major currencies.
Bill Gross, a seasoned investor, recently shared his thoughts on Tesla’s stock behavior, likening it to a speculative play among retail investors. He expressed concerns about the company’s fundamentals appearing to take a backseat to the price action, describing the situation as reminiscent of a meme stock trend. Gross’s comments suggest a growing trend in
Athletic Brewing Company, a leading nonalcoholic brewer, has recently secured an additional $50 million in equity financing, with General Atlantic leading the round. This investment is expected to propel the company’s growth and expansion plans, further solidifying its position in the market as a key player. With a focus on transforming the way modern adults
The US Dollar recently saw a slight recovery, with the DXY rising to 105.20, following Federal Reserve Chairman Jerome Powell’s remarks in Congress. Powell’s cautious stance on immediate rate cuts and emphasis on waiting for economic data has instilled confidence in the market for a potential September rate cut. Despite disinflation indicators, there is optimism
Looking at the XAU/USD chart, it is evident that the price of gold experienced a significant increase on Friday, July 5th, surpassing the $2390 level for the first time in over a month. This rise was attributed to the release of key US employment data, which hinted at a weakening labor market and subsequently heightened
Turkey’s Statistical Institute (TUIK) has been under scrutiny due to credibility concerns surrounding its inflation data. The institute faced criticism earlier this year when it admitted to not having historical data on product prices beyond May 2022 and stopped sharing it. This lack of transparency raised suspicions among economists and analysts. In an attempt to