The latest data on U.S. manufacturing reveals that the sector continues to face significant challenges, hindered further by recent strikes and interest rate hikes. Despite slight improvements in some areas, the overall performance of the manufacturing industry remains lackluster. This article explores the struggles and weaknesses experienced by U.S. factories, shedding light on the obstacles
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Gold price experienced a significant rally, surpassing the $2,040 resistance level and reaching as high as $2,060 against the US Dollar. However, the bullish trend was short-lived as the price underwent a downside correction. The bears managed to push the price below key support levels including $2,030 and the 50-hour simple moving average. The price
The USD/JPY currency pair experienced a significant rally of 1.03% on Tuesday, following a previous gain of 0.55%. This surge resulted in the pair’s session closing at 147.178, after fluctuating between a low of 145.582 and a high of 147.310. In the upcoming days, the USD/JPY’s performance will heavily depend on several factors such as
Artificial intelligence (AI) has long been a topic of both fascination and concern. Many believe that AI will one day become so advanced that it will reshape the world and disrupt various industries. However, Sam Altman, the CEO of OpenAI, argues that these concerns may be overblown. Altman specifically refers to artificial general intelligence (AGI),
The ongoing hostilities in the Middle East region and the Red Sea shipping route have introduced a potential “floor” in oil prices due to the increasing risk of supply disruptions. However, the demand side has remained weak as China’s top policymakers have signaled a less forceful approach in enacting stimulus measures. This article analyzes the
The Indian Rupee (INR) is facing challenges as tensions escalate in the Red Sea and the US Dollar (USD) gains strength. The recent rise in India’s wholesale inflation further adds to the pressure. This article examines the factors impacting the INR and its outlook in the current market conditions. The ongoing tensions in the Red
The Westpac Consumer Confidence Index for January showed a decrease of 1.3% to 81.0. This was contrary to the forecasted increase of 0.5% to 82.5 by economists. Consumer confidence trends are closely monitored by the Reserve Bank of Australia (RBA) as they can serve as an indicator of consumer spending behavior. A decline in consumer
Asian shares plunged to their lowest level in a month on Tuesday as hawkish remarks from central bankers dampened expectations of interest rate cuts. MSCI’s broadest index of Asia-Pacific shares (excluding Japan) dropped 1%, reaching its lowest level since mid-December. Japan’s Nikkei, after an impressive six-session winning streak, dipped 0.7% away from Monday’s 34-year high.
The Atlanta Federal Reserve (Fed) President, Raphael Bostic, recently expressed concerns about the potential impact of cutting interest rates too soon. He cautioned that such a move could result in inflation shifting unpredictably, as opposed to steadily reaching the central bank’s desired 2% target. Bostic emphasized the importance of ensuring inflation firmly returns to the
As the Japanese equity market continues its relentless climb, investors are left wondering if there is anything that can stop its upward momentum. With not much on the Asian economic and policy calendar to sway the market, attention turns to the upcoming Japanese producer price figures, which could potentially give a pause to the bullish
The CEO of Circle, the company behind the popular stablecoin USD Coin, Jeremy Allaire, is optimistic about the future of stablecoin regulation in the United States. With a $135.3 billion market, stablecoins have become an integral part of the cryptocurrency industry. However, unlike other jurisdictions around the world, the United States has yet to pass
The price of Brent crude oil has been on the rise for three consecutive days, reaching $79.00 per barrel as of today. This surge can be attributed to the unfolding events in the Red Sea, where transportation disruptions could potentially impact crude oil supply. With numerous tankers carrying energy carriers passing through these waters, any