With gold prices surpassing $2400.00 USD and reaching a new all-time high, it is evident that market demand for “safe-haven” assets is on the rise. The current economic and geopolitical landscapes are rife with uncertainty, leading investors to seek out stable and secure investment options. The escalating tensions in the Middle East have only exacerbated
Procter & Gamble (PG), American Express (AXP), and Schlumberger (SLB) are scheduled to release their quarterly earnings reports before the market opens on April 19, 2024. Procter & Gamble is expecting a modest increase in earnings, with a projected growth rate of 3.65%. Meanwhile, American Express anticipates a more substantial 23.75% rise in earnings, rebounding
Recent reports of Israeli missiles striking a site in Iran have heightened tensions in the Middle East, leading to a wave of risk-aversion across global financial markets. The uncertainty surrounding the situation has caused investors to flock to safe-haven assets, such as Gold, pushing prices towards record highs. The S&P 500 futures have taken a
A wave of risk aversion hit the markets, causing a sharp decline in the Australian and New Zealand dollars, while the yen gained support as investors sought safe-haven assets. The news of explosions in Iran raised concerns about the escalation of the Israeli-Hamas conflict in the Middle East, leading to a flight to safety. This
China’s fiscal stimulus efforts are facing challenges as noted by S&P Global Ratings senior analyst Yunbang Xu. The current strategy seems to be losing its effectiveness and it is now viewed more as a tactic to buy time for industrial and consumption policies rather than a sustainable solution to boost the economy. Xu emphasized that
Taiwan Semiconductor Manufacturing Company (TSMC) recently reported impressive first-quarter results, surpassing both revenue and profit expectations. With a net revenue of 592.64 billion New Taiwan dollars and a net income of NT$225.49 billion, TSMC showcased its strong position in the market. The firm saw a 16.5% increase in net revenue from the previous year and
Upon examining the short term Elliott Wave view in EURJPY, it is evident that the rally to 165.35 marked the end of wave 3. The subsequent wave 4 pullback unfolded as a double three Elliott Wave structure. The detailed breakdown of the waves, such as wave ((w)), wave ((x)), wave (w), wave (x), and wave
The USD/JPY pair has been experiencing a continuous decline, with the US Dollar correction putting pressure on the pair. The Japanese Yen, on the other hand, seems to have received support from Japan’s trade balance shifting to a surplus in March. This shift in trade balance might have contributed to the strengthening of the Yen
The recent comments from Federal Reserve officials have solidified the expectation of monetary settings remaining restrictive for a while longer, leading to the dollar’s rise. Traders are now evaluating the U.S. interest rates outlook based on strong economic data and persistent inflation. The tension in the Middle East has further strengthened the dollar’s safe-haven appeal,
The Bank of Japan’s decision to exit negative interest rates has had a significant impact on the USD/JPY exchange rate, causing it to tumble to the 154 handle. This move was influenced by forward guidance, which affected buyer demand for the Japanese Yen. The BoJ signaled the need for accommodative policy measures, leading to a
The short-term Elliott Wave view in Nikkei Futures (NKD) indicates that the rally to 40960 marked the end of wave 3. Currently, the market is experiencing a pullback in wave 4, which is unfolding as a double three Elliott Wave structure. The downward movement from wave 3 saw wave (a) ending at 40025 and wave
The financial sector in Vietnam has been rocked by the revelation of a major fraud at Saigon Joint Stock Commercial Bank (SCB). According to documents obtained by Reuters, the situation at SCB is dire, with the bank on the brink of collapse. The new information provided to Reuters outlined the unprecedented scale of the cash