Cisco is expressing a great deal of optimism regarding its business expansion with Chinese electric car companies as they continue to expand overseas. According to Ming Wong, vice president and CEO of Cisco Greater China, the electric vehicle (EV) segment is currently the second-largest for the U.S. tech giant in the region. Chinese EV-makers have
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Recent hints from the Bank of Japan (BOJ) suggest that a change in its monetary policy approach may be on the horizon. The central bank is considering the possibility of increasing its quantitative tightening (QT) plan, which could be accompanied by an interest rate hike. This potential shift comes as the BOJ aims to gradually
The short term Elliott Wave analysis for XAGUSD (Silver) suggests that the cycle from the 5.20.2024 high remains in progress as a double three structure. This means that the market is currently undergoing a complex correction pattern. Wave Count Details Breaking it down further, wave ((a)) ended at 30.03 and wave ((b)) rally ended at
The Indian Rupee has been showing signs of strength against the US Dollar due to the weaker performance of the greenback in recent trading sessions. This has been attributed to the potential boost in India’s inflows, which could contribute to the appreciation of the INR. However, the upside for the Indian Rupee may be limited
Recently, Boeing made an enticing proposal to acquire Spirit AeroSystems Holdings. This acquisition deal, mainly funded by stock, values Spirit AeroSystems at approximately $35 per share. The offer provides a premium of nearly 6% over Spirit’s stock closing price on Monday, which was $33.07. Additionally, it represents a substantial 22.4% upside from Spirit’s closing price
The Jibun Bank Services PMI unexpectedly fell from 53.8 to 49.8 in June, marking the first contraction since August 2022. This decrease in the PMI, coupled with the slowest pace of output price inflation in seven months, has raised concerns about the Japanese economy. The Bank of Japan (BoJ) may need to reconsider its monetary
It is crucial to note that the CB Consumer Confidence Index dipped below 100 in April for the first time since July 2022. This drop was largely attributed to consumer concerns about inflation by Dana M. Peterson, the Chief Economist at the Conference Board. The Consumer Confidence Index serves as a key indicator of the
The GBPJPY pair has shown a strong uptrend during Monday’s session, reaching a high of approximately 202.50, which is the highest level seen since 2007. Despite initial efforts from sellers to push the pair down to 106.14, buyers managed to regain control and propel the pair to new cycle highs. The Daily Relative Strength Index
The Bank of England (BoE) is anticipated to start decreasing interest rates in August. The monetary policy statement released by policymakers indicates that the decision to maintain interest rates at 5.25% was seen as “finely balanced.” This has led to speculations that rate cuts are imminent, as investors interpret this as a signal that a
Moody’s credit-rating firm recently expressed that they would not take any negative rating action against Japan if the government fails to meet its primary budget-balancing target next fiscal year. According to Moody’s Japan sovereign analyst, Christian de Guzman, the target should be seen as a commitment to fiscal reform rather than a strict requirement that,
The recent weakness of the yen against the US dollar has raised concerns among Japanese officials, prompting warnings against the possibility of excessive volatility in the currency market. The Bank of Japan has intervened in the past to prevent the yen from strengthening beyond the psychological mark of 160 yen per USD, as it is
The stock futures for the upcoming week are displaying a mixed picture as the market edges closer to the end of June and the first half of 2024. Despite nearing record highs, there seems to be some uncertainty looming over key players. For instance, Nvidia, a prominent market heavyweight, experienced a significant 4% drop last