Britain’s newly appointed finance minister, Rachel Reeves, has inherited a challenging economic landscape from her Conservative predecessor. Reeves recently revealed to Parliament that public spending is set to exceed the budget by a staggering £21.9 billion this year. In response to this alarming trend, she has announced immediate cuts of £5.5 billion and plans for
The upcoming Bank of Japan (BoJ) meeting is creating a buzz in the financial markets as speculations are rife about a potential rate hike. The BoJ is anticipated to unveil a strategy to halve its bond purchases in the coming years, a move that could have significant repercussions on the global economy. The decision, scheduled
As the week kicks off, USDJPY is facing a challenging battle to overcome the 20-period Simple Moving Average (SMA). Despite some positive momentum in the near-term, the bulls are finding it difficult to secure the upper hand in the 4-hour chart. Both the stochastics and RSI have shown signs of reversal to the upside, but
The stock market saw a rebound on Friday, with the S&P 500 index closing 1.11% higher. However, it is essential to note that it closed well below the daily high of 5,488.32, which indicates consolidation rather than a significant change in the short-term trend. The market may attempt to reverse the downtrend today, as the
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The upcoming week is poised to witness significant events in the financial world, with various central banks convening policy meetings. The Federal Reserve, the Bank of England, and the Bank of Japan are all scheduled to make crucial decisions regarding interest rates and monetary policy. The Federal Reserve, in particular, is expected to maintain its
Federal Reserve officials are expected to maintain current interest rates during the upcoming meeting, with the possibility of a 25 basis point rate cut in September looming on the horizon. Evercore ISI strategists have expressed their belief that the Fed will refrain from explicitly signaling a rate reduction at the September meeting. They argue that
The AUD/USD pair is currently on the rise, inching towards 0.6552 on Monday. This comes after the Australian dollar recently hit a 12-week low, experiencing a more than 3% drop in the past two weeks due to a global sell-off in risky assets and weak reports from China. Investors are eagerly awaiting the Australian inflation
In the wake of a tumultuous week in the market, stock futures are showing modest gains on Monday. While the S&P 500 and Nasdaq experienced losses last week, the Dow and Russell 2000 managed to secure gains. This week, the focus of investors will be on tech earnings reports from big players like Microsoft, Meta,
The New Zealand Dollar (NZD) is expected to continue range trading with the range likely to be between 0.5875 and 0.5920. Analysts at UOB Group, Quek Ser Leang and Peter Chia, have noted that despite the possibility of further weakness in the NZD, the severely oversold conditions suggest limited downside potential. The key level to
EUR/USD recently saw a correction from the 1.0950 level against the US Dollar. The pair dipped below 1.0900 before finding support near 1.0825. On the 4-hour chart, EUR/USD managed to remain above the 200 simple moving average which was a positive sign for the bulls. After hitting a low at 1.0825, the pair started to
Quantitative Tightening (QT) has been a topic of discussion among economists, with some suggesting that it could have a significant impact on the strength of the Yen. The Bank of Japan (BoJ) is planning to announce cuts to its JGB purchases in July, a move that could potentially influence the Yen’s value. However, the implications