GBPCAD has recently bounced back above the 50-day simple moving average (SMA) following a 2% correction in June. This correction led the price below the SMA, towards the upper ascending trendline that has been intact since the fall of 2023. While momentum indicators are showing positivity again, there are hints that the uptrend may be
admin
Federal Reserve (Fed) Chairman Jerome Powell and European Central Bank (ECB) President Christine Lagarde recently shared their insights on the monetary policy outlook at the ECB Forum on Central Banking in Sintra. They highlighted key points such as the stickiness of services inflation, the cooling off of the labor market, and the expectation for inflation
The UK 100 stock index (cash) has experienced a prolonged downward trend for the sixth consecutive trading day, highlighting the challenges faced by investors. The index has reached a critical support zone of 8,110 just ahead of the impending election day on July 4. This indicates a sense of uncertainty and caution among market participants,
Wall Street’s index futures took a hit on Tuesday as megacap stocks saw a pullback following a strong session. Companies such as Microsoft, Apple, and Amazon.com slipped in premarket trading after experiencing significant gains the day before. Tesla also shed 1% after a notable jump on Monday, while AI chip leader Nvidia and other semiconductor
The FX Empire article discusses the Reserve Bank of Australia (RBA) and the potential for an interest rate hike in the coming months. The article emphasizes the importance of monitoring the RBA’s determination to reach its inflation target, even at the expense of other economic indicators such as the labor market and macroeconomic environment. The
The news of meme stock trader “Roaring Kitty,” whose real name is Keith Gill, buying just over 9 million shares of Chewy created quite a stir in the financial market. This move amounted to a 6.6% stake in the pet food e-commerce retailer, making him the third-largest shareholder in the company. The value of his
A U.S. court has recently been asked to postpone a hearing to present the winning bid in an auction of shares in the parent company of Venezuela-owned refiner Citgo Petroleum. The request was made in order to allow the court officer evaluating bids to complete his assessment and negotiations with potential buyers. The auction, originally
Recent reports from Reuters suggest that Marine Le Pen’s far-right party, the National Rally (RN), emerged victorious in the first round of parliamentary elections in France. The victory of a right-wing party like the RN has caused ripples in the financial market, particularly affecting the euro’s exchange rate against other major currencies. Upon closer examination
The EUR/USD pair has initiated a recovery wave above the 1.0710 resistance level. This recovery wave has prompted the pair to move into a short-term positive zone. One significant development is the clearing of a major bearish trend line with resistance at 1.0725. Furthermore, there has been a move above the 38.2% Fib retracement level,
Recent data from a central bank survey in Japan shows that while big manufacturers are feeling more confident than they have in over two years, the service sector is facing challenges due to rising costs. The weak yen has been a key driver of these increased costs, leading to a mixed economic outlook in the
The gold price has been oscillating in a narrow trading band recently, influenced by mixed fundamental cues. With rising bets for a September Fed rate cut, the US Dollar has been under pressure, thereby lending some support to the precious metal. However, the uncertainty surrounding the timing and extent of the rate cuts has left
In a bold move to address the challenges posed by a corporate and industrial crisis, Boeing has announced its intention to acquire Spirit AeroSystems in a $4.7 billion all-stock deal. This decision comes after months of negotiations between the two companies, signaling a significant shift in the aerospace industry landscape. According to Boeing, the total