The upcoming US Personal Income and Outlays report holds significant importance for determining the prospects of a September Fed rate cut. Analysts are projecting a rise of 2.6% year-on-year in the Core PCE Price Index, a decrease from the previous figure of 2.8% in April. If the actual numbers come in below expectations, it could
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Chewy shares experienced a sudden surge in value after Roaring Kitty, also known as Keith Gill, posted a cryptic image on social media platform X that resembled the online pet food retailer’s logo. This is not the first time Roaring Kitty has impacted the stock market, as he has a history of stirring up trading
In a recent legal battle, French drugmaker Servier lost its court fight against the European Union over a 331 million euro fine imposed in 2014. The fine was related to deals Servier made with other companies to delay the release of generic versions of its popular blood pressure medication, perindopril. The EU also fined several
Banks within the European Union may be overestimating the value of high-risk debt utilized to fill holes in capital buffers designed to offer protection during financial crises, according to the EU’s banking watchdog. The issuance of Additional Tier 1 (AT1) bonds, also referred to as contingent convertibles or CoCos, has become a popular strategy for
The USD/JPY pair has surged to 160.34, a level not seen since 1986, amid growing expectations of interventions from Japanese authorities. Despite verbal assurances from the government, concrete financial actions have not been taken, leaving the yen exposed. Finance Minister Shunichi Suzuki has reiterated the government’s readiness to address sudden currency fluctuations, but the timing
As investors analyze the potential effects of the Australian inflation figures on the Reserve Bank of Australia’s rate decisions, attention is also focused on China. In particular, the industrial profit numbers from China play a crucial role in shaping buyer sentiment towards the Australian dollar. Economists are predicting a 4.1% year-on-year increase in Chinese industrial
Gold prices in India have been relatively stable, with minimal fluctuations in recent days. The price of Gold per gram and per tola has remained largely unchanged, reflecting the overall stability in the market. Gold has a rich history and has served as a store of value and medium of exchange for centuries. In addition
Europe is facing a critical risk of falling behind the United States and China in the field of artificial intelligence (AI) due to its heavy focus on regulating the technology rather than innovating in the space. Prince Constantijn of the Netherlands expressed his concern about the continent’s limited ambition of being good regulators, which is
The ASX 200 experienced a sharp decline of 1.01% on Wednesday, signaling a bearish trend in the market. This drop can be attributed to a variety of factors affecting investor sentiment and market dynamics. The hotter-than-expected Australian inflation numbers were a key driver behind the negative performance of the ASX 200. The Monthly CPI Indicator
In recent days, crude oil prices have shown a strong upward movement, surpassing the $80.00 resistance level. The price broke through the $80.00 mark, but encountered resistance as it approached higher levels. Upon examining the 4-hour chart of XTI/USD, it can be seen that the price has managed to settle above both the 200 simple
BoJ Deputy Governor Ryozo Himino emphasized the significant impact of exchange-rate fluctuations on economic activity, stating that it affects inflation beyond just import prices. The Bank of Japan may need to adopt a more hawkish stance to stimulate buyer demand for the Yen. With this in mind, can the economic indicators coming out of Japan
Amidst choppy early trade on Wednesday, Asian stocks struggled to find stability as investors awaited a key U.S. inflation reading. The yen lingered just below the 160 per dollar level, prompting concerns of potential intervention by Japanese authorities. Adding to the uncertain climate, hawkish comments from Federal Reserve officials kept near-term U.S. rate cut expectations