The USD/MXN exchange rate continues to fall for the third consecutive session, reaching near 17.00 during the early European trading hours. This decline is attributed to the weakening of the US Dollar, which has been struggling after poor US manufacturing data was reported in February. Despite a slight improvement in US Treasury yields, with the
Gold (XAU/USD) has recently seen a significant surge in its weekly gain, marking a 2.33% increase on 1 March 2024. This spike represents the highest weekly gain year-to-date and the best return seen in the past three months. Positive technical indicators and a softer real US 10-year Treasury yield below 2.15% are reinforcing the potential
The AUD/USD pair has been weakening, hovering near 0.6525 despite the softer US Dollar on Monday. This decline can be attributed to the US ISM Manufacturing PMI falling to 47.8 in February, below the previous reading of 49.1. The weaker-than-expected data is creating downward pressure on the pair, indicating potential economic challenges in the US
China’s parliament is gearing up to unveil moderate stimulus plans in an effort to stabilize economic growth as it convenes for its annual meeting. Premier Li Qiang is set to present economic targets for the year and deliver his first work report to the National People’s Congress. Focus on Near-Term Support Despite mounting pressure due
The ISM Non-Manufacturing PMI report, scheduled for release on Tuesday, is a crucial indicator of service sector activity in the US economy. With the service sector contributing over 70% to the overall economic output, any significant shift in this sector could have a substantial impact on investor sentiment. Economists are predicting a slight decline from
The Toronto Stock Exchange’s parent company, TMX Group, recently made a significant move by acquiring ETF education company VettaFi. According to TMX Group CEO John McKenzie, this acquisition will play a crucial role in expanding the exchange-traded fund business on a global scale. McKenzie emphasized the importance of ETFs in the investment landscape, calling it
In a passionate speech to Congress, Argentine President Javier Milei vowed to accelerate his plans for reform in the country in order to address its economic challenges. He challenged lawmakers to pass a new set of bills after a previous version of his comprehensive reform package was rejected the month before. Milei’s tone was forceful
The US Dollar trades near flat for this week, with Friday’s gains abating after the latest US data points. The US Dollar Index remains around 104.00, struggling to break away in either direction. The contradiction between the Global Purchase Managers Index and the ISM is causing uncertainty among traders regarding the Fed’s future rate hike
Making financial decisions should not be taken lightly. It is important to conduct thorough due diligence before making any investments or purchasing any products. This involves carefully researching and analyzing the options available to you, consulting with financial advisors, and using your own discretion to make informed choices. It is crucial to note that the
The GBP/USD pair is currently in the midst of a recovery wave from the 1.2600 level after facing resistance at 1.2700. There is a noticeable bearish trend line forming with resistance around 1.2665 on the hourly chart of GBP/USD at FXOpen. The recent decline led the British Pound to break below the 1.2650 support level,
New York Community Bancorp stock took a nosedive of over 20% in after-hours trading on Thursday following the announcement of a major leadership change within the regional lender. The bank revealed that Alessandro DiNello, who previously served as the executive chairman, will now be stepping into the roles of president and CEO effective immediately. This
In recent times, Japan’s Nikkei index has been on a steady rise, hitting a fresh record high. The surge of 7.9% the previous month was a clear indicator of the market’s bullish sentiment towards Japanese stocks. The recent 1.8% gain has propelled the Nikkei to levels last seen in 1989. This steady growth showcases the