The recent economic figures coming out of China have put immense pressure on Beijing to take action in order to revive the economy. With a growth target of roughly 5% in mind for this year, the world’s second-largest economy is struggling to gain momentum after a disappointing second quarter. Various economic indicators such as falling
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The XAUUSD market is currently showing signs of a bullish trend, with potential for new all-time highs in the short term. Traders are advised to consider sell positions below 2470 and buy positions after a pullback above 2460, while setting profit targets and stop losses accordingly. On the daily timeframe, price consolidation is observed below
The recently submitted 2025 budget plan by Indonesia’s outgoing government highlights a commitment to fiscal prudence, aiming for a narrower deficit compared to the current year. This proposal, with a total worth of 3,613.1 trillion rupiah ($230 billion), projects a deficit of 2.53% of GDP for the next year, which is lower than the expected
China’s financial risks have been a topic of concern for quite some time, particularly when it comes to local government debt. People’s Bank of China Governor Pan Gongsheng recently stated in state media interviews that these risks have decreased. He mentioned that the central bank would collaborate with the Ministry of Finance to help China
The NZD/JPY pair has experienced a mild increase, reaching a level of 89.30 and testing the important 20-day Simple Moving Average (SMA). This signifies a potential shift in the movement of the currency pair, as it hovers near this key technical indicator. Upon closer examination, it is evident that the Relative Strength Index (RSI) is
After the release of the University of Michigan’s Consumer Sentiment Index figures and the housing market data, the US Dollar (USD) showed a decline. Despite this, markets still maintain confidence in a potential cut in September. This confidence implies that investors are expecting further easing by the Federal Reserve (Fed) in the near future. The
The Dollar Index (DXY) is currently experiencing a slight decrease in price, trading at $102.911. This decrease is reflected in a bearish engulfing candle formation on the 4-hour chart, indicating a potential further downside correction. The 50-day and 200-day EMAs also point towards bearish momentum, with immediate support levels at $102.708, $102.452, and $102.166. The
Recent data has sparked hopes of an economic soft landing, leading to a surge in U.S. stocks. The S&P 500 has bounced back by over 6% after a significant drop earlier this month, signaling relief from recession concerns. Additionally, the Cboe Volatility Index, known as Wall Street’s “fear gauge,” has rapidly retreated from last week’s
The Australian Dollar (AUD) saw a rise against the US Dollar (USD), climbing to 0.6950. This increase was fueled by comments from Reserve Bank of Australia’s (RBA) Governor Michele Bullock, who maintained a hawkish stance. Despite mixed economic forecasts and rising inflation, the RBA’s commitment to its current policy stance has led to market expectations
The recent surge in regulatory scrutiny surrounding wealth managers’ cash sweep programs has the potential to negatively impact their credit ratings, according to Moody’s. This poses a significant threat to the high-margin business of firms such as Morgan Stanley and Wells Fargo. A ratings downgrade could result in increased costs for wealth managers, particularly at
Alan Taylor, a renowned economics professor specializing in international economics and financial crises, has been selected to join the Bank of England’s Monetary Policy Committee (MPC), as announced by Britain’s finance ministry. Taylor is currently a professor at Columbia University in New York, with a distinguished career that includes serving as a senior advisor at
In the midst of economic turmoil and recession fears, U.S. stocks managed to end the week on a high note. The S&P 500 and the Nasdaq rebounded, posting their biggest weekly percentage gains of the year. This rally comes in the wake of concerns over a potential downturn in the economy, which have now been