Wall Street’s stock indexes saw a significant surge on Friday, with the S&P 500 index edging closer to a record high. Federal Reserve Chair Jerome Powell’s remarks at the Jackson Hole economic conference played a pivotal role in this rally. Powell’s indication towards an imminent interest rate reduction due to risks in the job market
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Gold prices have surged to retest $2500/oz ahead of Fed Chair Powell’s speech at the Jackson Hole Symposium. This comes after a retracement during Thursday’s US session, fueled by a stronger US Dollar, rising US Yields, and potential profit-taking. The market is eagerly anticipating Powell’s remarks, with many hoping for confirmation of September rate cuts.
The Covid-19 pandemic brought remote work to the forefront of the U.S. labor market, but economists now see it as a permanent fixture. Nick Bunker, economic research director for North America at Indeed, describes the work-from-home revolution as a significant shift that is here to stay. The concept of remote work includes both full-time home-based
When it comes to trading foreign exchange, it is important to understand that there is a high level of risk involved. The use of margin can amplify these risks, meaning that you could potentially lose more money than you initially invested. This is not suitable for all investors, as the possibility of sustaining a loss
The authors of a recent paper highlighted the shift in business price-setting behaviors due to intensified upward pressure on wages. This phenomenon raises questions about the potential implications for the global economy. The relationship between wage increases and price-setting behaviors is complex and requires a comprehensive analysis to understand its full impact. ARK Invest CEO
Canada’s economy is facing a potential crisis due to the rail stoppage that began on Thursday, which could result in significant economic losses if it continues for an extended period of time. Economists and analysts have raised concerns about the negative impact that a prolonged rail strike could have on Canada’s GDP, job market, and
The AUD/USD pair experienced a drop, adjusting to 0.6950, as a result of a USD recovery after a 2% rally in the last sessions. The narrative of monetary policy divergence between the Federal Reserve (Fed) and the Reserve Bank of Australia (RBA) has been a key factor in driving the pair. The less assertive approach
Philadelphia Federal Reserve President Patrick Harker recently provided a strong endorsement for an interest rate cut in September. Speaking during the Fed’s annual retreat in Jackson Hole, Wyoming, Harker expressed a certainty that monetary policy easing is on the horizon. This statement is one of the most direct acknowledgments from a central bank official regarding
The Japan’s 225 stock index (cash) has been showing a positive momentum for the second consecutive day, reaching a three-week high of 38,421. This indicates a reversal of more than half of the previous freefall seen in July and August. The technical indicators suggest that there is still bullish potential in the market, with the
EUR/USD has seen a significant uptrend recently, surpassing the key resistance level of 1.1000. The Euro’s surge against the US Dollar has been quite impressive, with the pair breaking through the 1.0950 resistance level. On the hourly chart of EUR/USD, we can see a connecting bullish trend line that is providing support around 1.1090. The
In a shocking turn of events, British technology entrepreneur Mike Lynch, who was recently acquitted of fraud charges in a landmark trial, has been reported missing after a tragic incident involving the sinking of a superyacht off the coast of Sicily. This news has left many stunned, as Lynch, once hailed as “Britain’s Bill Gates,”
The Australian labour market has shown remarkable resilience, posing a challenge for lower inflation rates. Despite the recent Consumer Price Index (CPI) report indicating that annual inflation is in line with expectations, the continuous growth in services inflation, which is being supported by a strong job market, makes it challenging for inflation to decrease. Moreover,