The USD/JPY pair has been on an upward trend for the fourth consecutive day, reaching near 157.15 during Asian trading hours. Traders are taking a cautious approach as they await key economic events that could significantly impact the pair’s movement. One of the major events to watch is the release of the US Consumer Price
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The US annual inflation rate is projected to remain at 3.4% in May, according to economists. However, there is an expectation for the core inflation rate to soften slightly from 3.6% to 3.5%. Any deviation from these forecasts could have significant implications on investor expectations of a potential Fed rate cut in September. A higher-than-expected
The collaboration between Affirm and Apple is set to revolutionize the buy now, pay later sector for Apple device users. This partnership will provide additional payment options for U.S. Apple Pay users on their iPhones and iPads, giving them the flexibility and transparency that Affirm is known for. Affirm’s presence on Apple’s ecosystem indicates that
Poland is facing significant challenges in managing its fiscal policy due to rising expenditure needs related to infrastructure, climate risks, and security costs driven by the war in Ukraine. The International Monetary Fund (IMF) has emphasized the importance of setting a “very high bar” for more fiscal loosening in order to address these growing financial
As we look at the current state of the USD/CHF pair, it is evident that traders are staying calm and adopting a cautious stance. This behavior can be attributed to the looming Federal Reserve’s interest rate decision scheduled for Wednesday. The pair is hovering around 0.8950 during the early European hours on Tuesday, indicating a
The GBPUSD pair made significant advances, reaching its highest level since March 13, signaling a strong bullish momentum. However, the rally eventually lost steam as the market deemed the upward movement to be overstretched. This resulted in a reversal of the pair’s direction as profit-taking activities kicked in. Despite this pullback, momentum indicators remain in
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As Asian markets cautiously gauge the fallout from the success of right-wing parties in the European Union, there is growing concern about what this might mean for the cohesion of the bloc. While EUROSTOXX 50 futures edged up slightly, the overall sentiment remains cautious. The first opinion poll suggested that the far-right National Rally party
The tech sector experienced mixed results in the latest trading session. Infineon Technologies and SAP both suffered losses, with decreases of 0.78% and 0.30% respectively. This trend could be a cause for concern, as it may indicate a broader downturn in the tech industry that investors should keep an eye on. Similarly, auto stocks displayed
After the recent US Job Report, there are expectations of a pickup in hiring which could potentially support wage growth and increase disposable income. This, in turn, may fuel consumer spending and demand-driven inflation. The net effect of this could lead to a higher-for-longer Fed rate path to raise borrowing costs and reduce disposable income.
The recent pause in China’s gold buying spree is expected to be short-lived, with industry players predicting a resumption once prices ease from the record highs hit in May. China, the biggest official sector buyer of gold, has been steadily increasing its gold reserves for 18 consecutive months. Despite a halt in May, experts believe
GameStop shares took a significant hit, plummeting over 14% on Monday following a rough few days of trading. The downward spiral began after the company released an underwhelming earnings report, which showcased a 29% decline in sales for the first quarter. This disappointing financial outcome set the stage for the stock to drop even further.