The GBP/USD pair is currently trading above the crucial level of 1.3100, indicating that buyers are in control of the market sentiment. The Relative Strength Index (RSI) also confirms this bullish view, suggesting that the pair may be eyeing the 1.3200 resistance level in the near term. If the pair manages to clear the hurdle
As the EUR/USD pair hovers around 1.1077, investors are treading cautiously ahead of crucial employment data from the United States. The upcoming ADP private sector jobs report serves as a precursor to Friday’s highly anticipated Nonfarm Payroll (NFP) report, offering a glimpse into market sentiment. The release of weekly unemployment claims data will also be
In a bold move, Visa has announced plans to revolutionize the way we make payments by introducing a dedicated service for bank transfers. This innovative approach will bypass traditional credit cards and direct debit processes, providing users with more control and ease in managing their finances. Let’s delve into the details of this groundbreaking development
Upon analyzing recent unemployment data, it is evident that the spike in unemployment in July was not solely due to Hurricane Beryl. The Chief Global Economist at Arch Capital, Parker Ross, highlighted that there is no common theme across the key drivers of unemployment in various states, industries, or reasons. The fact that temporary layoffs
The USD/JPY pair has seen a slight uptick, reaching 145.95 on Wednesday morning after hitting two-week lows. This upward movement, while encouraging, may not indicate a significant trend reversal given the uncertain economic conditions. Market players are treading carefully as they await crucial US employment data for August, which is expected later this week. The
The silver price has been on a downward trend for the fourth consecutive day, currently hovering around $27.90 during Wednesday’s early European session. The decline of 0.55% can be attributed to several factors including a stronger USD and concerns about Chinese demand. The recent slowdown in China’s service activity growth, as indicated by the drop
The semiconductor stocks in Asia experienced a decline on Wednesday morning due to the substantial drop in Nvidia’s share price in the U.S. This reaction was triggered by Nvidia’s over 9% decline in regular trading, which reverberated through the semiconductor sector as a whole. The sell-off on Wall Street was intensified by economic data released
The repercussions of soft U.S. manufacturing data were felt across the global financial markets as the safe-haven Japanese yen saw a significant rally. The Australian dollar and sterling, on the other hand, struggled as traders opted for safer investments following a sharp sell-off on Wall Street. The negative sentiment was exacerbated by fears of a
China’s property sector struggles and U.S. sanctions have had significant impacts on various cities across the country. The Milken Institute’s best performing cities China index has been studying China’s large- and mid-sized cities since 2015, analyzing their economic vibrancy and growth prospects. Hangzhou, the capital of the eastern Zhejiang province and home to tech giants
The Japanese Yen has seen a slight uptick as the government announced a substantial allocation of ¥989 billion towards energy subsidies. This move has provided support to the currency amid economic uncertainties and challenges. Recent weak manufacturing data in Japan has led to speculation that the Bank of Japan (BoJ) might delay any further rate
When analyzing the potential impact of the ISM Manufacturing PMI on USD/JPY trends, it is important to consider a multitude of factors that can influence the currency pair’s movement. Economists are predicting an increase in the ISM Manufacturing PMI from 46.8 in July to 47.8 in August, with better-than-expected numbers potentially supporting expectations of a
Gold has been performing exceptionally well in the past seven months, experiencing a continuous upward trend and achieving a 21% increase this year. This impressive streak has left many investors wondering if this momentum will carry on into September or if a correction is imminent. The future trajectory of gold prices rests heavily on upcoming