Oil prices saw a downward trend on Tuesday as the Federal Reserve continued to take a cautious stance despite the recent softening of inflation. This cautious approach has raised concerns that US interest rates may remain at elevated levels for a prolonged period. Both Brent crude and WTI futures experienced a nearly 2% decrease from
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The tragic news of the Iranian President Ebrahim Raisi’s death in a helicopter crash near the border with Azerbaijan sent shockwaves through the financial markets. Alongside the President, the helicopter also carried Foreign Minister Hossein Amir-Abdollahian and other officials, all of whom perished in the crash. As the search for the helicopter unfolded in the
China’s recent moves to provide support for the real estate sector have been met with cautious optimism. Analysts believe that while the government’s efforts are commendable, it will take time for these policies to yield tangible results. S&P has maintained its stance that the property market in China is still in search of a bottom,
The Reserve Bank of Australia (RBA) recently published the Minutes of its May monetary policy meeting, revealing that the board members had debated the possibility of raising rates. Interestingly, they ultimately determined that the case for maintaining a steady policy stance was the stronger one. The board also acknowledged the difficulties associated with predicting future
The impact of artificial intelligence on productivity in the workforce is becoming increasingly evident. According to a recent report by PwC, industries that are most likely to utilize AI technologies have experienced a significant growth in productivity. The data shows that professional and financial services, as well as information technology, have seen a remarkable 4.3%
The recent statements made by FOMC members Michael Barr and Raphael Bostic have shown a hesitancy towards supporting a rate cut, emphasizing the need for more confidence in inflation returning to the target before taking such action. This caution has impacted investor expectations, with the markets still leaning towards a potential rate cut in September.
As Americans embark on their summer travels, they are witnessing a mixed bag when it comes to airfare prices. While there has been a general decrease in airline fares overall, a closer look reveals that certain regions and destinations are experiencing a significant hike in prices compared to the previous year. Analysis of data from
The U.S. inflation data for the first months of 2024 has been deemed as “disappointing” by the Fed vice chair for supervision, Michael Barr. In a statement on Monday, Barr expressed his lack of confidence in the current data, stating that it has not provided the necessary support for easing monetary policy. This revelation comes
AUDCAD has shown a steady increase, currently trading above 0.9100. Both the RSI and MACD indicators are holding in positive regions, indicating a bullish trend. The currency pair reached a 14-month high of 0.9125 on February 8, showcasing a strong upward movement. Despite facing resistance in the 0.9100 area, the technical indicators suggest that the
Sri Lanka is on the cusp of a major economic transformation as it prepares to introduce a new law aimed at attracting investors and boosting productivity. The country’s state minister of finance, Shehan Semasinghe, has highlighted the importance of these measures in ensuring Sri Lanka’s economic recovery and sustainable growth. The Economic Transformation Bill, which
Gold prices have surged to new highs, surpassing the previous peak and reaching a fresh high of 2,450. This significant movement in the market indicates the potential for further increases in the coming days. The MACD shows strengthening positive momentum above its trigger and zero lines, while the RSI is approaching the overbought territory, remaining
The global venture capital investment in crypto companies has seen a significant increase, reaching $2.4 billion in the first quarter of 2024. This marks a potential resurgence in investor interest in the crypto space after a period of decline. Data from PitchBook revealed that venture capital flows in the crypto industry reached a peak of