China, as the biggest official sector buyer of gold, has been steadily increasing its gold reserves over the past 18 months. However, official data from the People’s Bank of China (PBOC) in May showed that their holdings remained unchanged. This news caused a sharp drop in global spot prices, but industry players believe that China
GameStop has experienced a drastic drop in its shares, with a staggering 14% decrease on Monday following a disappointing earnings report. This decline was further compounded by a lackluster livestream by Keith Gill, also known as Roaring Kitty. The stock, which had already fallen by nearly 40% on Friday, hit a new low of $24
Pakistan’s coalition government is gearing up to unveil its ambitious fiscal targets in the upcoming budget for the year 2024/2025. The budget, which is set to be announced on Wednesday, is expected to play a crucial role in solidifying Pakistan’s case for a new bailout deal with the International Monetary Fund (IMF). The country is
As investors kick off the week, they are met with a cloud of uncertainty looming over Europe’s political landscape. The recent results of the four-day European Parliament elections have shown a significant rise in eurosceptic-nationalists, displacing liberals and greens. This shift in power has led to President Emmanuel Macron dissolving the French Parliament and calling
The correlation between gold prices and equities is a topic of interest for many investors, as these assets are often viewed as having an inverse relationship. However, recent data has shown that gold prices can be strong alongside equities, which is unusual given the traditional risk-on environment associated with higher stock prices. Looking back at
The USD/CHF pair is showing strength near 0.8970 in Monday’s early European session. This rise can be attributed to the diminishing rate-cut prospects by the Federal Reserve (Fed), which has boosted the appeal of the US Dollar. The recent US Nonfarm Payrolls report for May revealed robust labor demand and stronger than expected wage growth.
The recent shock announcement by French President Emmanuel Macron calling for a snap election after disappointing results in the European Union vote has sent ripples through global markets. The euro plummeted to a one-month low of $1.0764 and reached a 21-month low against the pound. EuroSTOXX 50 equity futures and French bond futures also took
The US Jobs Report that was released on June 7 had a significant impact on the USD/JPY, pushing it closer to the 157 level. Following this, the focus has now shifted to the upcoming US CPI Report, which could potentially lead the Bank of Japan to engage in more substantial discussions regarding bolstering the Japanese
In the aftermath of the European Union (EU) elections, French President Emmanuel Macron made a surprising announcement that he would dissolve parliament and call for new legislative elections. This decision came after exit polls indicated a heavy defeat for Macron’s alliance in the European elections to Marine Le Pen’s far-right National Rally (RN) party. Macron
Recent data from the Recruitment and Employment Confederation (REC) in Britain indicates that the decline in permanent hiring by employers in the country has been the least severe in over a year. This encouraging trend suggests that the recruitment market may be on the path to recovery, providing hope for both job seekers and the
Owning a piece of pop culture history is a dream for many, and iconic celebrity homes are the epitome of this desire. Luxury real estate experts like Tomer Fridman and Josh Altman emphasize the unique and rare nature of these properties, comparing them to owning a Picasso or a Fabergé egg. The recent listings of
The recent departure of Chanel’s top designer has sent shockwaves through the luxury fashion industry, prompting speculation about the future direction of the brand. Chanel, along with other major players like Louis Vuitton and Dior, has relied heavily on marketing new styles from high-profile designers and increasing retail prices to drive sales growth. However, with