Australia’s biggest banks are facing a challenging first half of the year, with weaker profit forecasts on the horizon. High operating costs and intense competition in the mortgage and deposit markets are putting pressure on margins, leading to a possible reversal of the recent stock rally that analysts have described as overheated. Traditionally, the Big
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Amazon saw a nearly 2% increase in its shares after beating both top and bottom line expectations. With earnings of 98 cents per share and revenue of $143.31 billion, the company outperformed analyst forecasts. The advertising and Amazon Web Services segments also surpassed expectations. However, the second-quarter revenue forecast fell short of estimates, indicating potential
In a recent 19-page report, Goldman Sachs pointed out a critical threshold for equity investors to keep an eye on – 5% on the 10-year Treasury yield. According to the Wall Street firm’s analysis of market data dating back to the 1980s, once the 10-year Treasury yield hits this level, the correlation between bond yields
The GBP/JPY pair has been steadily rising as the market mood brightens, leading to reduced flows into the safe-haven Yen. Positive lending data in the UK indicates that credit remains ample, which has contributed to the bullish sentiment surrounding the GBP/JPY pair. The BRC Shop Price Index also shows disinflation in the UK, although it
Since the beginning of the trading day on Tuesday, the price of silver has experienced a significant decline of 2.6% to reach $26.4 per ounce. This drop comes after a failed attempt to break above the $30 per ounce mark on 7th April. Following this unsuccessful rally, silver seems to have entered a phase of
Upon conducting Elliott Wave analysis on the Australian Stock Exchange (ASX) with REA Group LTD, it appears that wave 2-red may have recently concluded, signaling the potential for wave 3-red to soar even higher. This major trend in the minor degree, red, shows a Mode of Motive and Position of Wave 3-red. The current short-term
The Eurozone preliminary core CPI rate for April has shown a gradual decline, reaching 2.7% year-over-year, which marks the slowest pace of inflationary pressure since February 2022. This downward trend in inflation is accompanied by a widening spread between the 2-year and 10-year Eurozone sovereign bonds and US Treasuries. The widening of these yield spreads
Germany’s Retail Sales saw a significant jump of 1.8% month-on-month in March, following a 1.9% decline in February. This positive change in retail activity indicates a potential recovery in consumer spending habits within the country. The rebound in Retail Sales provides a glimmer of hope for the German economy, which has been facing challenges due
The Options on Secured Overnight Financing Rate (SOFR) futures are indicating a higher likelihood of the Federal Reserve raising interest rates by a quarter percentage point both this year and next. This sentiment is primarily driven by the resilience of U.S. inflation and the labor market. Investors in the bond market tend to rely on
China’s Caixin Manufacturing Purchasing Managers’ Index (PMI) showed a significant increase to 51.4 in April, surpassing the previous month’s expansion rate of 51.1. This exceeded market expectations of 51.0, indicating a strong performance in the manufacturing sector. Production expanded at the most pronounced pace since May 2023, reflecting a positive trend in output. Additionally, new
The upcoming session will shed light on employment cost – wages and the CB Consumer Confidence, both of which are crucial factors that could influence the AUD/USD trends. Economists predict a 0.9% increase in employment cost – wages in Q1 2024, following a similar rise in Q4 2023. Higher-than-expected wages could potentially impact investor expectations
Japan’s currency, the yen, experienced a dramatic surge against the dollar recently, leaving many traders speculating about the reasons behind this sudden move. This intervention by Japanese banks is the first of its kind in 18 months and has caused ripples in the foreign exchange market. As we delve deeper into the implications of this