Sheila Bair, the former chair of the U.S. Federal Deposit Insurance Corp, has expressed concerns about the upcoming regional bank earnings. She believes that these quarterly numbers could shed light on critical weaknesses within the industry. Bair specifically pointed out that some regional banks are still heavily reliant on industry deposits, exposed to concentrated commercial
The EUR/USD pair has been trading on the defensive around 1.0615 in the early Asian session on Wednesday. This comes as Federal Reserve Chairman Jerome Powell made comments indicating that it is appropriate to maintain a restrictive policy given the strength of the labor market. Powell also mentioned that inflation is not progressing as desired
The CME FedWatch Tool recently showed a decline in the probability of a June Fed rate cut, dropping from 20.7% to 18.8% on April 16. This shift comes after a significant decrease from 56.1% to 20.7% just a week prior on April 9. Additionally, bets on a September rate cut have also become less dovish,
The 2023-24 budget presented by Finance Minister Chrystia Freeland introduces a significant change in the inclusion rate on capital gains. Individuals with capital gains exceeding $250,000 annually will now face an inclusion rate increase from one-half to two thirds. Moreover, corporations and trusts will also be subjected to this higher inclusion rate on all capital
Bank of America recently released its first-quarter earnings report, showcasing a strong performance that exceeded analysts’ expectations. The bank reported earnings of 83 cents per share, beating the expected 76 cents per share. Additionally, the revenue reported was $25.98 billion, surpassing the forecasted $25.46 billion. Despite these positive figures, the bank saw a decline in
When it comes to Morgan Stanley’s first quarter results, the numbers speak for themselves. With earnings coming in at $2.02 a share, surpassing the $1.66 LSEG estimate, and revenue reaching $15.14 billion, beating the expected $14.41 billion, it’s clear that the bank has had a successful start to the year. One of the key highlights
The XAU/USD gold chart today is showing that the historical record price of gold has surpassed USD 2,400 per ounce. This increase in price can be attributed to a variety of factors, including fears of a new round of inflation due to rising commodity prices and ongoing geopolitical tensions around the world. Active military conflicts
The latest data on China’s real estate market reveals that new home prices experienced the sharpest decline in over eight years in March. This drop in prices is attributed to the ongoing debt crisis facing major property developers, which has had a significant impact on demand and the overall economic outlook of the country. The
The NZD/USD currency pair has been on a downward trend, with the New Zealand Dollar depreciating to near 0.5880 during the Asian trading session. This movement can be attributed to the escalated geopolitical tensions in the Middle East, specifically the anticipation of Israel’s response to Iran’s recent assault. As a result, investors have been turning
The global economy is currently facing a period of uncertainty, with forecasts for industrial production and retail sales pointing towards weaker trends. Economists are predicting that retail sales will only advance by 4.5% year-on-year in March, down from the 5.5% increase seen in February. Similarly, industrial production is expected to increase by 5.4% year-on-year in
The recent development of British stock trading app Freetrade reaching breakeven in the first quarter of 2024 marks a significant milestone for the company. After incurring losses in 2023, Freetrade reported adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) of £100,000 in the first quarter of 2024. This achievement is attributed to the company’s
The recent retaliatory attack by Iran on Israel has led to a significant slump in Asian shares and a rise in gold prices. The escalating tensions between both countries have raised fears of a wider regional conflict, leaving traders on edge. The possibility of open warfare involving the United States has further heightened the level