Goldman Sachs recently reported an impressive second-quarter profit and revenue, surpassing analyst estimates. However, one area where the company fell short was in its investment banking division. While investment banking fees rose by 21% to $1.73 billion, it was slightly below the $1.8 billion StreetAccount estimate. The main reason for this miss was the lower-than-expected
The cable maintained its bullish tone on Monday, reaching a new yearly high just below the psychological barrier of 1.30. However, after a strong advance in the past two weeks, bulls may start to lose traction as they face resistance at the 1.30 level. Daily studies suggest that the market is overbought, and the 14-day
As we begin the week, the financial markets are treading cautiously in response to reports of an assassination attempt on former President Donald Trump. This unsettling news has put investors on edge, leading to a subdued start to trading activities. Moreover, the economic calendar for the day does not feature any high-impact data releases, further
China’s highly anticipated policy meeting, the Third Plenum, is set to begin today, July 15th, and will run through Thursday, July 18th. This gathering holds significant importance, as past Third Plenums have led to major transformative periods in China’s economic policies. Notable examples include the bold move towards economic reform in 1978 under Deng Xiaoping’s
Pakistan’s benchmark share index experienced a significant increase of 1.44% on Monday, reaching a new record high following the announcement of a staff level agreement (SLA) between the International Monetary Fund (IMF) and Pakistan. This agreement entails a $7 billion, 37-month loan program that aims to provide much-needed financial stability to the country. The negotiations
China, the world’s second-largest economy, experienced a slowdown in the second quarter of the year. Official data revealed that the economy only grew by 4.7% in April-June, marking its slowest growth since the first quarter of 2023. This figure fell short of analysts’ expectations of a 5.1% growth, as projected in a Reuters poll. The
China’s National Bureau of Statistics recently released data showing that the country’s second-quarter GDP rose by 4.7% year on year, falling short of expectations of a 5.1% growth as per a Reuters poll. This figure indicates a slower economic recovery than anticipated, raising concerns about the pace of China’s post-pandemic rebound. In addition to the
The gold price has been on a downward trend, currently trading around $2,405 in the early Asian session. The unexpected acceleration of the US PPI in June has contributed to this decline, marking the highest rate since March 2023. This increase in wholesale price inflation in the United States has put pressure on the precious
The attempted assassination of former President Donald Trump on Saturday has sent shockwaves across the world, with Asian markets being the first to feel the impact. Analysts are closely watching to see if this event will strengthen Trump’s election hopes, leading to potential ‘Trump-victory trades’ such as a stronger dollar and a steeper U.S. Treasury
The strategic region of the Pacific Islands Forum is facing a financial crisis as Western banks continue to exit the unprofitable market. This exodus is prompting concern that China could potentially fill the void, leading to a situation that has been described as “Armageddon” by an Australian official. The small island nations in this region,
The recent assassination attempt on former President Donald Trump during a campaign rally in Pennsylvania has garnered widespread reactions from various analysts and investors. The incident, which left Trump with a wound on his upper right ear, has raised concerns about the potential implications on the upcoming election and the overall political landscape in the
Recent remarks by Fed Chair Powell have highlighted concerns about softening labor market conditions. This shift in focus towards potential weakness in the labor market has caught the attention of investors and analysts alike. With the Fed now considering the possibility of further rate cuts to combat this issue, the upcoming labor market data will