In a shocking turn of events, British multibillionaire Joe Lewis is set to face sentencing in a U.S. court for illegally sharing stock tips obtained through his investments. Despite the potential for a prison sentence of up to two years as per federal guidelines, both prosecutors and his attorneys have advocated for leniency due to
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The price of gold (XAU/USD) has recently surged to an all-time high above the $2,300 mark, driven by various factors such as the weaker-than-expected US ISM Services PMI data for March and speculation regarding the Federal Reserve’s rate hike cycle. Investors and traders are closely monitoring the situation, with markets now expecting the possibility of
U.S. Treasury Secretary Janet Yellen embarked on her second trip to China since the summer, emphasizing the importance of enhancing high-level communication between the two countries. Yellen’s visit comes at a time of tense relations between the U.S. and China, with efforts being made to bridge the gap and foster a deeper dialogue. By engaging
Recently, Jerome H. Powell, the Federal Reserve chair, made statements indicating that the central bank is adopting a patient stance when it comes to deciding on interest rate cuts. This cautious approach is grounded in the current economic landscape, which includes easing inflation rates and stable growth. Powell also emphasized the Fed’s independence from political
The Federal Reserve officials, led by Jerome Powell, are engaging in extensive discussions over the necessity of cutting interest rates. Despite market expectations for a rate cut in June, Powell emphasized the importance of more deliberation and data before taking such a step. He highlighted that recent indicators related to job gains and inflation have
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The USD/JPY chart indicates that the exchange rate has settled at 152 yen per US dollar. However, this apparent stability does not necessarily indicate a calm market environment. In fact, various factors suggest that the market may be on the brink of significant changes. In 2023, a drastic shift in trend occurred around the 152.00
Financial stress is becoming a pervasive issue among adults in major economies around the world. The International Your Money Financial Security Survey conducted by SurveyMonkey revealed that at least half of adults in countries like the U.S., Australia, Spain, and Mexico are feeling stressed about their personal finances. The primary reason cited for this stress
Despite the softer US Dollar, the EUR/USD pair is trading weaker around 1.0765. This comes after the German Harmonized Index of Consumer Prices (HICP) rose by 2.3% year-on-year in March, the lowest level seen since June 2021. The weaker US Dollar Index (DXY) below the 105.00 mark has provided some support to the major pair,
In a recent statement, Cleveland Federal Reserve President Loretta Mester suggested that interest rate cuts are still on the horizon for this year. However, she made it clear that the upcoming May policy meeting will not be the time for such a move. Mester’s perspective was echoed by San Francisco Fed President Mary Daly, who
In recent trading sessions, there has been a confirmed breakout from a small cup-and-handle pattern, with current trading indicating that the larger cup-and-handle pattern is nearing completion. The smaller pattern is a precursor to the completion of the larger pattern, suggesting that USD/JPY values are poised for a significant increase, which in turn could spell
The recent release of positive data regarding the US manufacturing sector has sent the EUR/USD pair tumbling to its lowest point since February 15th of this year. The Institute for Supply Management (ISM) reported a significant increase in the manufacturing business activity index, climbing to 50.3 points in March from 47.8 in the previous month.