Warren Buffett turned 94 on Friday and his sprawling, one-of-a-kind conglomerate has never been worth more than it is today. Berkshire Hathaway became the first nontechnology company to top a $1 trillion market capitalization this week. Moreover, Berkshire Class A shares also topped $700,000 apiece for the first time ever. Howard Marks, a great investor
The price of gold continues to maintain its firm tone, holding near a new all-time high as investors await the release of US PCE data. This data is expected to provide fresh signals that will impact the market’s direction. Gold has been well supported by strong demand, acting as a safe haven asset and experiencing
In Friday’s early Asian session, the EUR/USD pair was seen trading stronger near 1.1080. This recovery came after the US Gross Domestic Product (GDP) growth rate rose at an annual rate of 3.0% in the second quarter (Q2). This figure surpassed expectations and the initial estimate of 2.8% which was released by the Department of
China’s recent announcement of an anti-subsidy investigation into imported dairy products from the European Union has raised tensions between the two economic powerhouses. The probe, which includes various types of cheeses, milks, and creams intended for human consumption, was initiated based on a complaint from the Dairy Association of China and the China Dairy Industry
The Euro has faced resistance at the 1.12000 level, leading to a correction down to 1.1100. The current range-bound trading between 1.1200 and 1.1090 raises questions about potential scenarios in upcoming sessions. A break below 1.1090 could trigger a downward correction towards 1.1050-1.0980, while consolidation above 1.1200 may resume the upward momentum towards 1.1400-1.1300. Technical
The White House has announced that President Joe Biden and Chinese President Xi Jinping are scheduled to have a phone conversation in the “coming weeks.” This comes as U.S. national security adviser Jake Sullivan travels to Beijing for discussions with Wang Yi, China’s top diplomat. The two leaders are expected to address a range of
The NZD/USD pair has been showing strength around 0.6280 in the early Asian session, marking a 0.57% increase for the day. One of the key factors influencing this movement is New Zealand’s Business Confidence, which has surged to the highest level in a decade based on the recent ANZ Business Outlook survey. This positive outlook
Recently, the U.S. dollar has been holding near its lowest point in over a year against a basket of currencies, with sterling also trading near multi-year highs. The focus of the market has shifted towards predicting the extent of the upcoming U.S. interest rate cut. Traders are closely watching for any clues that could shed
The Indian Rupee (INR) is under pressure in Wednesday’s early Asian session due to weakening in Asian peers and month-end USD demand. The local currency is also impacted by US Dollar (USD) demand from importers. Despite these challenges, positive domestic markets and Federal Reserve (Fed) Chair Jerome Powell’s dovish comments at the recent Jackson Hole
The NZD/USD pair has shown significant strength in recent trading sessions, breaking above the 0.6050 and 0.6120 resistance levels. This bullish momentum has been driven by a positive outlook for the New Zealand Dollar, with the pair now consolidating gains below the 0.6250 level. On the 4-hour chart, a major bullish trend line is forming
Xpeng, the Chinese electric car company, made waves in the automotive industry on Tuesday with the launch of its new mass-market Mona brand. The Mona M03 electric coupe, priced as low as $16,812, quickly garnered attention with over 10,000 orders in just 52 minutes after its formal introduction in Beijing. This launch solidifies China’s position
The recent comments made by AMP’s Head of Investment Strategy and Chief Economist Shane Oliver regarding the Aussie Labor Report shed light on the current economic situation in Australia. Oliver’s statement about the increasing unemployment rate being the highest since November 2021 raises concerns about the state of the labor market. However, he also mentioned