Taiwan Semiconductor Manufacturing Company (TSMC) recently reported impressive first-quarter results, surpassing both revenue and profit expectations. With a net revenue of 592.64 billion New Taiwan dollars and a net income of NT$225.49 billion, TSMC showcased its strong position in the market. The firm saw a 16.5% increase in net revenue from the previous year and
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Upon examining the short term Elliott Wave view in EURJPY, it is evident that the rally to 165.35 marked the end of wave 3. The subsequent wave 4 pullback unfolded as a double three Elliott Wave structure. The detailed breakdown of the waves, such as wave ((w)), wave ((x)), wave (w), wave (x), and wave
The USD/JPY pair has been experiencing a continuous decline, with the US Dollar correction putting pressure on the pair. The Japanese Yen, on the other hand, seems to have received support from Japan’s trade balance shifting to a surplus in March. This shift in trade balance might have contributed to the strengthening of the Yen
The recent comments from Federal Reserve officials have solidified the expectation of monetary settings remaining restrictive for a while longer, leading to the dollar’s rise. Traders are now evaluating the U.S. interest rates outlook based on strong economic data and persistent inflation. The tension in the Middle East has further strengthened the dollar’s safe-haven appeal,
The Bank of Japan’s decision to exit negative interest rates has had a significant impact on the USD/JPY exchange rate, causing it to tumble to the 154 handle. This move was influenced by forward guidance, which affected buyer demand for the Japanese Yen. The BoJ signaled the need for accommodative policy measures, leading to a
The short-term Elliott Wave view in Nikkei Futures (NKD) indicates that the rally to 40960 marked the end of wave 3. Currently, the market is experiencing a pullback in wave 4, which is unfolding as a double three Elliott Wave structure. The downward movement from wave 3 saw wave (a) ending at 40025 and wave
The financial sector in Vietnam has been rocked by the revelation of a major fraud at Saigon Joint Stock Commercial Bank (SCB). According to documents obtained by Reuters, the situation at SCB is dire, with the bank on the brink of collapse. The new information provided to Reuters outlined the unprecedented scale of the cash
Sheila Bair, the former chair of the U.S. Federal Deposit Insurance Corp, has expressed concerns about the upcoming regional bank earnings. She believes that these quarterly numbers could shed light on critical weaknesses within the industry. Bair specifically pointed out that some regional banks are still heavily reliant on industry deposits, exposed to concentrated commercial
The EUR/USD pair has been trading on the defensive around 1.0615 in the early Asian session on Wednesday. This comes as Federal Reserve Chairman Jerome Powell made comments indicating that it is appropriate to maintain a restrictive policy given the strength of the labor market. Powell also mentioned that inflation is not progressing as desired
The CME FedWatch Tool recently showed a decline in the probability of a June Fed rate cut, dropping from 20.7% to 18.8% on April 16. This shift comes after a significant decrease from 56.1% to 20.7% just a week prior on April 9. Additionally, bets on a September rate cut have also become less dovish,
The 2023-24 budget presented by Finance Minister Chrystia Freeland introduces a significant change in the inclusion rate on capital gains. Individuals with capital gains exceeding $250,000 annually will now face an inclusion rate increase from one-half to two thirds. Moreover, corporations and trusts will also be subjected to this higher inclusion rate on all capital
Bank of America recently released its first-quarter earnings report, showcasing a strong performance that exceeded analysts’ expectations. The bank reported earnings of 83 cents per share, beating the expected 76 cents per share. Additionally, the revenue reported was $25.98 billion, surpassing the forecasted $25.46 billion. Despite these positive figures, the bank saw a decline in