Reddit is making waves in the social media world as it prepares for its upcoming initial public offering (IPO). The company is set to debut on the NYSE under the ticker symbol “RDDT”, with expectations of becoming the largest social media IPO since Pinterest in 2019. One interesting aspect of Reddit’s IPO plan is its
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The New Zealand dollar has been experiencing a rough patch, particularly due to the recent decline in retail sales. In the fourth quarter of 2023, retail sales in New Zealand fell by a significant 1.9% quarter-on-quarter. This marks the eighth consecutive quarter of decline in retail spending, signaling a concerning trend for the country’s economy.
The GBPUSD pair has recently bounced off the 200-day SMA, showing some signs of recovery. However, despite this rebound, the pair is still stuck within a short-term trading range. This indicates that there is a lack of strong directional momentum in the near future. Both the RSI and MACD indicators are showing weak momentum for
The AUD/USD pair is failing to hold onto its modest intraday gains as USD buying emerges in the market. The Federal Reserve’s hawkish outlook has led to elevated US bond yields, which is supporting the US dollar against other major currencies. Equity Markets Influence A minor pullback in the equity markets is further driving flows
The U.S. dollar experienced a decline in value last week, marking the first weekly fall in 2024. This shift was driven by investors taking a step back following a decrease in expectations for future Federal Reserve rate cuts, which had previously pushed the greenback up. Meanwhile, the yen continued its downward trajectory, heading for a
Singapore recently reported a slower increase in its key inflation rate than what was originally anticipated by the market. Specifically, the core inflation rate, excluding private road transport and accommodation costs, only rose by 3.1% year-on-year, falling short of the 3.6% forecasted by economists. This unexpected decline could potentially prompt the central bank to consider
The Indian Rupee (INR) has been losing ground despite the weakening of the US Dollar (USD). This surprising trend comes amidst the decision by the Reserve Bank of India (RBI) to keep the key repo rate steady at 6.5%. This move indicates that the battle against persistently high inflation in India is far from over.
The Federal Reserve Governor, Christopher Waller, made it clear that there is no immediate rush to begin cutting interest rates. He emphasized the need for further evidence that inflation is indeed cooling before he would support any rate cuts. According to Waller, the decision to start policy easing and the number of rate cuts will
Block stock saw a significant increase of up to 14% in extended trading following their fourth-quarter earnings report, which exceeded analyst expectations. The company reported earnings per share of 45 cents, adjusted, which was not comparable to estimates. Additionally, Block’s revenue of $5.77 billion surpassed the expected $5.70 billion. The company also posted $2.03 billion
The USD/JPY pair is currently eyeing a fresh increase above the 150.80 resistance level. After finding support near 149.50 against the Japanese Yen, USD/JPY started a new uptrend and breached the 150.00 resistance. The 4-hour chart shows that the pair is trading above both the 100 simple moving average (red) and the 200 simple moving
The US Federal Reserve has reached a critical juncture in its decision-making process regarding interest rate cuts. Fed Governor Christopher Waller has warned against rushing into rate cuts, suggesting that the recent increase in inflation may be a temporary bump rather than a long-term trend. Waller’s cautious approach is based on a variety of economic
Intuit, a financial software company, saw its shares dip by roughly 1% after posting a revenue of $3.39 billion in the second quarter. Although the revenue matched analyst expectations, the adjusted earnings exceeded Wall Street’s estimates. This indicates a positive performance by the company in terms of profitability. Live Nation Entertainment experienced a 1% increase