One of the key factors influencing the near-term trends of the AUD/USD is the private sector PMIs from China and Australia. These data points provide crucial insights into the health of the manufacturing sectors in these countries, which in turn can impact the value of the Australian dollar against the US dollar. Another important factor
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As Asia kicks off the new trading month for global markets, all eyes are on the latest manufacturing PMI data from the continent’s biggest economies. This data will set the local tone and provide valuable insights for investors who are eagerly anticipating potential interest rate adjustments. With a mix of economic indicators coming out of
China’s Caixin S&P Global Manufacturing Purchasing Managers’ Index (PMI) rose from 51.4 in April to 51.7 in May, according to the latest data released on Monday. The reading beat the market consensus of 51.5 in the reported month. Production expands at most pronounced pace since June 2022. Fastest purchasing activity growth in three years as confidence
North Dakota Governor Doug Burgum has found himself at the center of controversy following allegations made against former President Donald Trump. Trump reportedly told oil executives at a meeting in Palm Beach, Florida that he would reduce regulations in exchange for significant financial support for his potential re-election campaign. However, Burgum has vehemently denied these
Upon meticulously analyzing the Elliott Wave patterns on various key market indicators such as the NASDAQ 100 (NDX), QQQ ETF, SP500 (SPX), and individual stocks like Apple (AAPL) and Tesla (TSLA), a clear picture emerges. The current scenario points towards a developing Wave iii of (i) of v) of 1 of (5) of 3) of
The Australian housing market continues to show strength, with home prices climbing steadily despite economic challenges. According to data from property consultant CoreLogic, national home prices rose by 0.8% in May, marking the largest monthly gain since October. This trend of growth has persisted for sixteen consecutive months, with prices up by 8.3% compared to
Stock markets in the Gulf showed positive movement on Sunday, with the Saudi index leading the gains. After hitting a five-month low, the benchmark index in Saudi Arabia rose by 1.1%. This increase was driven by growth in various sectors, particularly in IT, utilities, and healthcare stocks. Notable performers included ACWA Power with a 4.4%
The unemployment rate is projected to hold steady at 3.9%, with the high estimate at 4.0% and the low at 3.8%. This stability in the unemployment rate may provide a sense of relief, but it is essential to note that even small fluctuations can have significant impacts on the economy. Additionally, wage growth is expected
Australia is set to release its GDP numbers for Q1, which are expected to show a modest expansion of 0.2%. This follows a 0.2% growth in Q4 of the previous year. The trade data for April will also be crucial, with economists predicting an increase in both imports and exports. A wider trade surplus would
Jan van Eck, the CEO of VanEck, has observed a significant shift in sentiment within the cryptocurrency market. This shift is closely linked to the recent approval by the U.S. Securities and Exchange Commission for a rule change that paves the way for Ethereum exchange-traded funds (ETFs). VanEck was the pioneer in applying to the
Following Standard & Poor’s (S&P) decision to downgrade France’s long-term sovereign debt rating from “AA” to “AA-“, the financial markets are expected to react slightly with a potential spread between French and German benchmark bonds widening by 3-5 basis points. This minor impact may push the spread to approximately 50 basis points, a level comparable
The inception of Yotta by Adam Moelis in 2019 was rooted in the noble intention of providing Americans with a novel approach to saving money, thereby insulating them from the vicissitudes of life. However, what transpired was a catastrophic turn of events, unfurling a saga of anguish for thousands of customers who had entrusted their