BlackRock, the asset management giant, saw a significant rise in profits during the second quarter of the year. The company reported a 10% increase in net income, reaching $1.5 billion, or $9.99 per share. This exceeded analysts’ estimates, showcasing the strong performance of the firm. Additionally, BlackRock achieved a record $10.6 trillion in assets under
Forex News
The USD/JPY pair is currently trading around 158.30 during the early Asian trading hours on Tuesday. This uptick in the pair can be attributed to the moderate rebound in the US Dollar (USD). Investors are closely watching the US June Retail Sales data and a speech by Federal Reserve official Adriana Kugler for further direction
The markets have kicked off the new week cautiously due to reports of an assassination attempt on former President Donald Trump. This unsettling news has set a tone of caution in the markets as investors navigate through uncertain waters. While the economic calendar for the day does not include any high-impact data releases, all eyes
Gold prices have been on a decline, reaching around $2,405 in Monday’s early Asian session. The unexpected acceleration of the US Producer Price Index (PPI) in June, reaching its highest rate since March 2023, has contributed to this downward trend. The rise in wholesale price inflation in the United States has put pressure on the
The recent rally in Butler, Pennsylvania took a terrifying turn when an assassination attempt targeted Former President Donald Trump. With multiple shots fired, one bullet ripped through the upper part of his right ear, causing chaos and panic. The quick response of the Secret Service led to the shooter, identified as a 20-year-old man from
The US Dollar Index (DXY) has been on a downward trend lately, hitting lows not seen since April. This can be attributed to the disappointing US Consumer Price Index (CPI) figures released recently, along with softer University of Michigan (UoM) sentiment data. These factors have bolstered the belief in the market that the Federal Reserve
The Australian Dollar (AUD) has continued its positive trajectory against the USD, reaching 0.6780 in Friday’s session. The momentum was fueled by market participants adjusting their positions on the Federal Reserve (Fed) after the release of US inflation data. The AUD managed to rise by 0.30%, maintaining its bullish stance and reaching the highest level
Analyzing the past performance of the 4H Hour Elliott Wave chart of VanEck Gold Miners ETF ($GDX) reveals an interesting pattern. The rally from 2.28.2024 low at $25.64 unfolded as a 5 waves impulse, indicating a strong bullish momentum. This suggested that a pullback would occur in 3 swings before finding buyers again. The 4H
Jerome Powell’s recent visit to the House Financial Services Committee stirred up some uncertainty in the markets. Despite his reluctance towards immediate rate cuts, investors are eagerly awaiting the release of June’s Consumer Price Index (CPI) data on Thursday for clearer guidance. Powell’s hints at ongoing data assessment have kept the markets on edge, with
The recent comments made by Federal Reserve Chairman Jerome Powell have had a significant impact on the US Dollar. While the market expected a more dovish stance from Powell, his remarks during the congressional testimony suggested a more patient approach towards rate cuts. Powell reiterated the importance of strong economic data before considering any policy
Despite the initial surprise from France’s election results, the EUR/USD pair continues to rise for the sixth day in a row, reaching around 1.0830 during the Asian trading session on Tuesday. The unexpected victory of a leftist alliance in France has prevented Marine Le Pen’s far-right party from dominating the leadership race, leading to a
The US Dollar faced a challenging week, dropping by 0.80% and reaching its lowest level since mid-June. Investors are closely watching the upcoming release of the June inflation figures and Federal Reserve talks. The market is currently pricing in less than a 10% probability of a rate cut in July and approximately 80% odds in