The recent breakout in the USDCHF currency pair has confirmed a strong bearish bias. The medium-term bullish corrective cycle that started in December 2023 has completed, leading to a continued decline in the pair. This bearish sequence is about to break below the second low, indicating a clear downward trend. Analyzing the weekly chart, it
JD Vance, Donald Trump’s new running mate, made headlines with his strong stance on China during his recent speech at the Republican National Convention. Vance emphasized the need to protect the wages of American workers and prevent the Chinese Communist Party from benefiting at the expense of American citizens. His tough rhetoric reflects a growing
Gold prices in the United Arab Emirates have remained relatively stable, with slight fluctuations observed over the past few days. According to data compiled by FXStreet, the price for Gold stood at 290.59 United Arab Emirates Dirhams (AED) per gram on Thursday, showing minimal change compared to the previous day. The price for Gold per
The US Dollar has observed a significant fall recently, reaching its lowest value since March. This decline can be attributed to the Federal Reserve’s bets leaning in favor of a dovish stance. The market sentiment towards the Federal Reserve’s monetary policy has been on the dovish side, which has put downward pressure on the USD.
The recent request made by Senators Roger Wicker and Jim Risch to President Joe Biden regarding the Philippines’ standoffs with Beijing in the South China Sea highlights the escalating tensions in the region. Central to these tensions is the disputed Second Thomas Shoal, which has been a focal point of conflict between the Philippines and
The recent 4-week rally of EUR/CHF from 19 June has started to show signs of exhaustion. Political uncertainties, particularly in France, have had a significant impact on the movement of the currency pair. The ongoing weakness of the France CAC 40 has triggered a negative feedback loop towards EUR/CHF. The EUR/CHF cross pair has managed
The Canadian Dollar (CAD) is showing slight gains this morning, although it is considered a relative underperformer compared to a weakening US Dollar (USD). Shaun Osborne, Chief FX Strategist at Scotiabank, highlights that the Mexican Peso (MXN) is also losing ground amidst speculation surrounding President Trump’s interest in implementing tariffs. Data from yesterday’s Canadian Consumer
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Citizens Financial (NYSE:CFG) reported better-than-expected second-quarter profits, driven by a strong performance in capital markets that partially offset the impact of weaker lending activities. The U.S. economy’s resilience has led to an increase in corporate bond sales, resulting in higher fees for investment banks involved in underwriting these deals. Capital markets fees surged by 63%,
Federal Reserve Governor Christopher Waller recently hinted at potential interest rate cuts in the near future, assuming there are no major surprises in terms of inflation and employment data. He expressed his belief that current economic indicators are aligning towards a soft landing, indicating that a rate cut may be warranted soon. Waller outlined three
HSBC made a significant announcement on Wednesday, revealing that Georges Elhedery will be taking over as the group CEO starting September 2. This move comes after the departure of Noel Quinn, who had been at the helm for nearly five years. Elhedery, the current chief financial officer, will step into his new role in September,
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