Asian shares have reached a 15-month high, driven by renewed confidence in U.S. interest rate cuts. This positive trend is evident in various indexes, with Japan’s Nikkei gaining 1.3% and the S&P 500 futures remaining steady. A notable factor contributing to this momentum is the softer-than-expected U.S. jobs data, as well as remarks from Federal
Gold prices have been on a positive trajectory for the past few days, mainly due to the weaker US dollar. The recent US Nonfarm Payrolls data indicated a slower job growth rate, leading to speculations of potential rate cuts by the Federal Reserve. This anticipation of an easing cycle has made gold a more attractive
Citigroup CEO Jane Fraser recently discussed how consumer behavior in America is diverging as inflation continues to rise, affecting the lives of many individuals. According to Fraser, there is a clear distinction between the spending habits of affluent consumers and lower-income Americans. The affluent continue to spend, driving growth in certain sectors, while lower-income individuals
Berkshire Hathaway, the conglomerate led by renowned investor Warren Buffett, has reported a significant surge in operating earnings in the first quarter of the year. The operating profit of $11.22 billion represents a 39% increase from the previous year, driven primarily by a rise in insurance underwriting earnings. This strong performance has propelled Berkshire’s Class
The crypto market capitalization has seen a 2% increase over the past week, with a significant 13% upsurge from the lows of early May. The market witnessed a slight bottom formation followed by a modest rebound, and eventually, more robust buying after the release of the monthly US jobs report. However, this growth faced resistance
The USDJPY currency pair has been experiencing a downward trend recently, slipping below 153 on Friday morning. This three-week low marks a loss of over 4.5% from its peak of 160.2 at the beginning of the trading week. One of the fundamental factors driving this movement is the significant and widening interest rate differential between
The relationship between the Chinese economy and the Australian Dollar (AUD) is a complex and significant one. The latest data published by Caixin shows that China’s Services Purchasing Managers’ Index (PMI) eased to 52.5 in April, compared with the March print of 52.7. This has implications for various factors that influence the value of the
The EUR/USD pair has shown signs of recovery above the 1.0650 resistance level, indicating a positive trend in the market. The break of a major bearish trend line at 1.0720 on the 4-hour chart suggests a shift in momentum towards a bullish trajectory. However, the pair is currently facing resistance at the 76.4% Fib retracement
The recent soft U.S. jobs report has caused a stir in the currency markets, with the dollar remaining largely stable. Despite last week’s strong gains, the yen weakened on Monday to start the week. This came after the currency hit a three-week high of 151.86 per dollar on Friday following suspected Japanese government interventions aimed
Pakistan is eagerly anticipating the visit of an International Monetary Fund (IMF) mission this month to discuss the possibility of a new programme. This comes as Islamabad gears up to kickstart its annual budget-making process for the upcoming financial year. The previous $3 billion short-term programme, which Pakistan successfully completed last month, played a vital
The European Union (EU) has recently launched an investigation into China’s procurement of medical devices, as part of its ongoing efforts to protect home-grown manufacturers. This investigation is just one of several probes that the EU has initiated to determine whether Chinese companies are engaging in unfair practices, such as dumping subsidised goods on the
The stock markets in the Gulf region experienced a positive trend on Sunday, with the Qatar index leading the way. This upward movement was a result of the slowing U.S. jobs growth in April, which raised hopes of early interest rate cuts by the U.S. Federal Reserve. The Labor Department’s employment report revealed that the