Mexico’s peso is currently facing a challenging landscape, with a mixture of positive and negative factors influencing its performance in the foreign exchange market. Despite a relatively firm economy, the currency has experienced a minor 1% drop year-to-date. This depreciation is expected to continue in the medium-term, with a forecasted additional 2.6% decline in the
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The Japanese Yen has been on an upward trend for the past three days, reaching a three-week high and showing signs of strength in the market. Speculation regarding Japan’s financial authorities intervening in the market for the second time this week has contributed to this upward movement. Additionally, the post-FOMC selling of the US Dollar
A former trader at Societe Generale, Kavish Kataria, was dismissed from the bank’s Delta One desk due to unauthorized risky bets that were not supposed to be made. However, Kataria claims that the bank made him a “scapegoat” for the failed trades and did not take their share of responsibility. He mentioned that the profits
Indian Rupee (INR) appears to gain momentum on Friday due to the cautious comments made by Federal Reserve Chair Jerome Powell, which have led to selling pressure on the US Dollar (USD). Moreover, the positive sentiment in the Indian equity markets and the inflow of foreign capital have further supported the INR. The market players
The analysis of the EURJPY pair using the short term Elliott Wave view suggests that the rally from the low on 12.7.2023 is currently in progress as a 5 wave pattern. This indicates a significant uptrend in the market movement, with wave 1 ending at 163.71 and a subsequent pullback in wave 2 closing at
As the Governor of the Bank of Greece, Yannis Stournaras, suggests that the European Central Bank (ECB) will likely reduce borrowing costs three times in a year rather than four, the implications for the Euro become apparent. Stournaras’s remarks indicate a cautious approach to monetary policy, taking into account the pace of economic growth and
The Internal Revenue Service (IRS) has announced its intentions to significantly increase audit rates for big corporations, partnerships, and multimillionaires over the next three years. This decision comes as the agency ramps up its enforcement spending and hiring to boost collections. Targeted Audits The IRS plans to triple the audit rate on corporations with assets
In the world of finance, it is crucial to conduct thorough due diligence before making any investment decisions. The content provided on various websites, including news, analysis, and opinions, should be taken with caution. It is essential to remember that this information is intended for educational and research purposes only. Any financial decisions should be
The recent drop in Brent crude oil prices to $83.95 per barrel has been attributed to the increase in crude oil inventories and production in the United States. The Department of Energy reported a rise of 7.30 million barrels in inventories, contrary to the predicted decrease of 2.3 million barrels. This unexpected surge in supply
The Federal Reserve recently made the decision to hold its ground on interest rates, choosing not to cut rates despite facing increasing challenges with inflation. This decision comes as the U.S. central bank continues to grapple with inflation that has proven to be more troublesome in recent times. The federal funds rate has been at
In the world of finance, it is crucial to remember that the information provided is for educational and research purposes only. This means that any decisions made based on this content should be thoroughly researched and analyzed. It is not enough to simply rely on the opinions and analysis provided by others, as the ultimate
In the world of finance, it is crucial to conduct thorough due diligence before making any decisions. The information provided on various websites may include general news, opinions, and analysis, which are not personalized for individual financial situations. Therefore, it is important for individuals to carefully research and consult with their advisors before taking any