The Federal Reserve recently reported that production at U.S. factories increased by 0.9% in the month of May, surpassing the expectations of economists. This growth helped to recover from the declines seen in the prior two months. However, despite this positive growth, there are concerns about the sustainability of this momentum. Higher interest rates and
The article discusses the uncertainty observed in the price behaviour of the Nasdaq 100 near the resistance level of 18,840. This uncertainty was highlighted by a decline in price following the test of the resistance level and a subsequent test of the former resistance at 18,250. The long lower shadow on the candle indicated aggressive
The Reserve Bank of Australia (RBA) kept rates steady at 4.35% on Tuesday, in line with expectations. However, the bank warned about the need to remain vigilant against inflation risks. The decision had little impact on the Australian dollar, with the currency remaining relatively stable. The RBA seems poised to maintain this stance until there
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At the beginning of this week, gold prices took a hit as they slipped below the $2320 mark. This downward pressure was also influenced by the lack of safe-haven appeal due to quiet geopolitical events over the weekend. The back-and-forth price action last week, driven by market reactions to potential interest rate hikes and the
Recently, China has initiated an anti-dumping investigation into imported pork and its by-products from the European Union. This move is believed to be targeted towards countries such as Spain, the Netherlands, and Denmark, in response to restrictions on its electric vehicle exports. The investigation, announced by China’s commerce ministry, will specifically focus on various pork
The gold price has fallen to its lowest level in a month, indicating a downward trend in the market. This drop comes after hitting an all-time high of 2,450 and breaking below the 50-day simple moving average (SMA). The price reached a one-month low on June 7, signaling a significant pullback from its record peak.
Costco Wholesale Corp. has been analyzed using Elliott Wave Theory to provide insights into potential trading opportunities based on current market trends. The analysis focuses on both the daily and 4-hour charts to offer a comprehensive view of Costco’s price movements and market structure. The Elliott Wave analysis on the daily chart indicates an impulsive
Starboard Value, the well-known activist hedge fund led by Jeff Smith, has recently acquired a significant stake in graphics-design firm Autodesk. The firm has expressed serious concerns regarding Autodesk’s disclosure practices related to an internal investigation that ultimately led to the removal of their CFO. The activist fund’s stake in Autodesk is said to be
President Emmanuel Macron of France recently made headlines by dismissing extreme economic plans as unrealistic in the face of significant economic challenges. This bold move comes at a crucial time for the country, as decisions made now could have far-reaching consequences for its economy. Macron’s decision to dissolve the government was met with mixed reactions,
The European Central Bank policymakers have confirmed that there is currently no plan to discuss emergency purchases of French bonds, despite the recent turmoil in the French financial markets. The sell-off in French government bonds last week has raised concerns among investors, with the risk premium over safer German paper reaching levels not seen since
The Bank of England (BoE) is scheduled to hold a meeting on Thursday this week at 11:00 am GMT. However, the timing of this meeting has posed a challenge for traders due to the ongoing General Election in the country. It is expected that the central bank will refrain from making any major policy changes