As Brazil enters its dry season, the country is grappling with a drop in reservoir levels at hydroelectric plants. Despite the development and growth of wind and solar power sources, hydroelectric plants still provide more than half of Brazil’s power supply. The local power regulator, Aneel, has decided to introduce an additional charge on electricity
China’s manufacturing sector experienced a significant slowdown in August, reaching a six-month low according to an official factory survey. The official purchasing managers’ index (PMI) dropped to 49.1 in August from 49.4 in July, falling below the 50-mark that distinguishes growth from contraction. This decline was unexpected, as it missed the median forecast of 49.5
Wall Street stocks surged on Friday, with the Dow Jones Industrial Average reaching a new all-time high for the second consecutive day. This increase was attributed to positive U.S. economic data that hinted at a potential interest rate cut by the Federal Reserve in September. The news led to a rise in consumer spending in
Warren Buffett, acclaimed as the “Oracle of Omaha,” celebrated his 94th birthday with Berkshire Hathaway reaching new milestones in its market capitalization. The company’s shares surpassed $700,000 apiece, making it the first non-technology firm to achieve a $1 trillion market capitalization. Howard Marks, a respected investor and friend of Buffett, attributes the success of Berkshire
Gold has continued to display a firm tone, remaining near its all-time high on Friday as it awaits the release of US PCE data later today for potential fresh signals. The metal has been well supported by strong demand, serving as a safe haven asset and witnessing large purchases by central banks. Geopolitical tensions and
The EUR/USD pair has shown signs of strength, hovering near 1.1080 in the early Asian session. This can be attributed to the fact that US GDP exceeded expectations in the second quarter. With a growth rate of 3.0%, the US economy is performing well, which could dampen hopes for a larger rate cut by the
When it comes to making financial decisions, it is crucial to perform thorough due diligence checks. This includes researching and analyzing the information available to you before taking any action. It is not enough to simply rely on the opinions or analysis of others, as your financial situation and needs may differ from theirs. By
The euro has recently faced resistance at the 1.1200 level, resulting in a correction down to 1.1100. This correction has established a range-bound trading pattern between 1.1200 and 1.1090. If the price breaks below 1.1090, we could see a downward correction towards 1.1050-1.0980. Conversely, if the price consolidates above 1.1200, there is potential for the
China’s recent decision to open investigations into imported dairy products from the European Union has led to increased tensions between the two economic blocs. This move comes shortly after Brussels revealed its revised draft decision regarding tariffs on electric vehicles manufactured in China. The probe into EU dairy imports is just one of the many
The White House announced that President Joe Biden and Chinese President Xi Jinping are scheduled to have a phone call in the coming weeks. This announcement comes as U.S. national security adviser Jake Sullivan visits Beijing to meet with China’s top diplomat, Wang Yi. Both sides also mentioned that their military leaders would have a
The New Zealand Dollar (NZD) gained momentum in Thursday’s early Asian session, reaching as high as 0.6280 against the US Dollar (USD). This increase of 0.57% on the day was largely attributed to New Zealand’s business confidence soaring to its highest level in a decade. According to the recent ANZ Business Outlook Survey, the headline
The Indian Rupee (INR) has been facing pressure in recent trading sessions, with sellers entering the market during the early Asian session on Wednesday. This downward movement can be attributed to the weakening of Asian currencies and increased demand for the US Dollar (USD) from importers. However, despite these challenges, positive developments in the domestic