Xiaomi, a well-known Chinese smartphone company, has stepped into the electric vehicle market and has seen remarkable success with its new electric SUV model. With more than 70,000 orders received for its latest electric vehicle, the SU7 sedan, Xiaomi is on track to surpass its initial full-year delivery target. The company’s CEO, Lei Jun, revealed
Gold prices have shown minimal movement recently, hovering in a narrow band as traders closely watch for any developments in U.S. economic data. Despite a slight increase to $2,325.23 per ounce, the overall market sentiment remains cautious. The anticipation of upcoming GDP and PCE reports has heightened, with the potential to impact the dollar and
The European markets have been experiencing strong business activity indicators, leading to a rise in the value of the euro above $1.07. This positive trend has been encouraging for investors, displaying a promising outlook for the region’s economy. The increase in business activity suggests a growing and thriving market environment, which could attract more investment
The Indian Rupee is currently trading on a softer note due to increased US Dollar demand from importers, as well as expectations that the US Federal Reserve will not be cutting interest rates anytime soon. Despite this, the positive outlook for the Indian economy is expected to lend support to the INR and limit the
The recently released economic data showing better-than-expected numbers has provided some support to investor expectations that the US economy will manage to steer clear of a recession. This positive news is likely to have a certain impact on investor sentiment, at least in the immediate future. However, it is important to note that these numbers
The GBP/USD pair has experienced a recent downtrend, breaking below key support levels and testing the 1.2300 zone. However, there are signs of a potential recovery as the pair has started to move higher. On the 4-hour chart, GBP/USD has managed to surpass the 23.6% Fibonacci retracement level and also broke a bearish trend line
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The recent fluctuations in global currency markets have had a significant impact on the value of the US dollar compared to other major currencies such as the euro and sterling. Despite a series of robust European activity data releases, the dollar has taken a hit due to a cooling in US business growth. The dollar
German Chancellor Olaf Scholz and Finance Minister Christian Lindner have recently expressed doubts about the reform of Germany’s debt brake. The debt brake, which limits public deficits to 0.35% of GDP, is a hot topic of discussion among politicians, with some calling for adjustments to the system. Challenges Ahead for Reform Scholz stated that he
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The Securities and Exchange Commission (SEC) of the Philippines has taken a firm stance against cryptocurrency exchange Binance. The regulatory body has instructed tech giants Google and Apple to remove Binance from their respective app stores. SEC Chairperson Emilio Aquino highlighted the potential risks posed to Filipino investors by allowing continued access to Binance sites
Gold has experienced a significant pullback this week, dropping to $2300 per troy ounce. The decline since Friday has been over 3.7%, with the trigger being a less severe escalation in the Palestinian-Israeli conflict than initially anticipated. Despite the recent pullback, many analysts view this as a much-needed technical correction. There is a possibility that