European shares saw a positive trend for the third consecutive session on Monday, as investors anticipated an interest rate cut from the European Central Bank (ECB). The STOXX 600 index closed 0.3% higher, with notable gains in Spanish and Italian stocks leading the way. This surge in stock prices was driven by expectations of a
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The EURCHF market has seen significant movement recently, hitting a 14-month high before experiencing a sharp decline towards the 50-day SMA. This market volatility has presented challenges for traders looking to capitalize on the fluctuations in the exchange rate. The momentum indicators for EURCHF have turned bearish, signaling a shift in market sentiment. This change
Upon assuming office, Mexican president-elect Claudia Sheinbaum will be tasked with upholding her promises of expanding social programs, despite inheriting a budget deficit that reached its highest level since the 1980s due to increased spending by her predecessor. With a deficit of 5.9% of GDP in 2024, up from 4.3% in previous years, Sheinbaum will
Dutch digital bank Bunq is setting its sights on obtaining a banking license from U.K. financial regulators, with hopes of achieving this milestone by the end of the year or early next year. CEO and founder Ali Niknam expressed optimism about the process, acknowledging the differences in regulatory procedures between the U.K. and Europe. Bunq’s
After touching a three-week low on Friday, the Gold price (XAU/USD) continues to struggle for momentum during Monday’s Asian session. Several factors are leading to this lackluster performance, including speculation around potential Federal Reserve rate cuts and geopolitical risks. These factors are balancing each other out, leaving the precious metal lingering near recent lows. One
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
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%