The recent fluctuations in the exchange rate between the pound and the yen have sparked speculations among traders and analysts. While positive British data has contributed to the pound’s bounce back, Japan’s GDP release has managed to avert a technical recession for the time being. There are even rumors circulating that the Bank of Japan
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Bitcoin experienced a decline to a one-week low in volatile trading on Friday, driven by profit-taking after reaching a record high and in response to an unexpected increase in U.S. inflation. The cryptocurrency fell over 5% during the Asian session, hitting a low of $66,629.96, before partially recovering to trade 3.5% lower. This fluctuation came
Recently, there has been a resurgence in discussions around the implementation of a wealth tax on the global super-rich, with the aim of addressing wealth inequality and boosting government revenues. U.S. President Joe Biden has proposed a “billionaire tax” as part of his 2025 budget proposals, targeting Americans with a wealth exceeding $100 million. This
The Indian Rupee (INR) has been trading on a negative note on Friday due to a stronger US Dollar. In addition, India’s Wholesale Price Index-based inflation has dropped to a four-month low, which was weaker than expected. Investors are closely watching the Indian Trade Balance data and US preliminary Michigan Consumer Sentiment, both of which
The U.S. stock market experienced a drop on Thursday, primarily due to chipmaker stocks extending losses for a second consecutive day. In addition, a significant increase in producer prices left investors wondering about the potential impact on future decisions by the Federal Reserve regarding interest rates. Rate-sensitive Sectors Take a Hit The data revealed that
The USD/JPY pair is currently undergoing a recovery wave from the 146.50 support level. Despite a heavy decline below the 148.00 zone, the pair found support near 146.50 and has begun a fresh increase. On the 4-hour chart, a key rising channel is forming with support at 147.50. Although there was a move above the
Despite recent inflation data signaling higher than anticipated inflation rates, Kristina Hooper, chief global market strategist at Invesco, believes that the Federal Reserve will likely initiate interest rate cuts by the end of the second quarter. The Fed has been increasing borrowing costs to combat high inflation levels seen during the pandemic. While inflation has
As the 2024 presidential election looms closer, investors are bracing themselves for a potential rematch between President Joe Biden and former President Donald Trump. Political landscapes have become increasingly emotional, leading to heightened tensions and uncertainty in the market. The stakes are high, and the impact of these emotions on investor decisions cannot be underestimated.
Despite facing headwinds due to a slowdown in traditional economic pillars such as real estate, infrastructure, and exports, HSBC remains optimistic about the mid to long-term outlook for the Chinese economy. The Chinese government has responded to these challenges by focusing on bolstering manufacturing and domestic tech sectors to modernize the economy and maintain global
WTI crude oil futures have recently bounced off the 200-day simple moving average (SMA) at 78.00, indicating a strong support level. This level has been crucial in providing both resistance and support from January to March, showcasing its importance in the current price action. Uptrend Since Mid-December The price of WTI crude oil has been
The latest inflation gauge, along with the producer price index for February, is causing investors to closely monitor the economic data. The uptick in inflation, as seen in the consumer price index, has raised concerns about the potential for a rate cut by the Federal Reserve. The producer price index is particularly crucial as it
The United States Census Bureau is scheduled to release Retail Sales data on Thursday, with expectations of a 0.8% expansion in February. This data is crucial for understanding consumer spending patterns in the US economy and can have implications for monetary policy decisions by the Federal Reserve. The upcoming Retail Sales report is anticipated to