The Consumer Electronics Show, now known as CES 2024, is just around the corner, and the tech world is abuzz with anticipation. While OpenAI boss Sam Altman won’t be making a physical appearance at the event, the impact of his startup’s generative artificial intelligence (AI) technology will be felt throughout the show. Just like Apple’s
The first week of 2024 proved to be a wild ride for U.S. stock indexes, as investors navigated through a topsy-turvy session that ultimately closed marginally higher. Despite the small gains, the S&P 500 and Nasdaq Composite experienced their worst weekly performance in months. Uncertainty surrounding interest rate cuts and mixed macroeconomic data played a
The EUR/USD experienced a turbulent day of trading on Friday, fueled by the release of Eurozone inflation data and US labor data. European inflation figures for December surprised the market, with the Eurozone Harmonized Index of Consumer Prices (HICP) rising to 2.9% year-on-year (YoY), surpassing the forecasted 2.4% and November’s 2.4% reading. Despite expectations for
The U.S. corporate bond market had a strong start to the year, with nearly $59 billion in high-grade bond issuance in the first week of 2024. This exceeded forecasts of $50 billion to $55 billion. The rush was driven by top-rated companies looking to take advantage of lower borrowing costs due to a tightening of
The US Dollar (USD) has experienced a retreat in the wake of the latest string of US data. While the Nonfarm Payrolls (NFP) from December exceeded expectations, the Services ISM PMI for the same month disappointed. These mixed results, along with indications of a dovish stance by the Federal Reserve, have caused the Dollar Index
The U.S. Dollar Index experienced a pullback as traders reacted to the Non Farm Payrolls report, which revealed that the U.S. economy added 216,000 jobs in December. Surprisingly, despite the positive report, the American currency did not receive significant support from traders, who remain inclined towards a dovish Federal Reserve. If the U.S. Dollar Index
Crypto investors worldwide are anxiously awaiting a long-awaited ruling from the U.S. Securities and Exchange Commission (SEC) that could finally approve the trading of a spot bitcoin exchange-traded fund (ETF). This decision comes more than a decade after initial attempts to introduce a bitcoin ETF were rejected by the SEC. This time, however, things seem
The US 500 cash index has been experiencing a continuous downward trend, with its sixth consecutive red candle marking a negative start to 2024. This correction in the index may see further decline if the upcoming data releases on Friday disappoint market participants. It is worth noting that despite the correction, the US 500 index
China, the world’s second-largest economy, has been considering implementing a substantial stimulus package to support its economy and drive up demand. This move is crucial for the Chinese economy as it accounts for one-third of Australian exports. The Australian economy heavily relies on trade, with a trade-to-GDP ratio above 50%. Additionally, about 20% of the
The USD/CAD pair has experienced a shift in momentum as Crude oil prices show signs of improvement. This has put downward pressure on the currency pair, with the Canadian Dollar (CAD) receiving upward support. In addition, heightened tensions in the Red Sea region have fueled the rise in Crude oil prices. This article delves into
South Korea’s government has recently announced its biannual economic policy plan, which prioritizes supporting people’s livelihoods and managing potential risk factors. This decision comes as the country reduces its GDP forecast for 2024 and raises its inflation projection. The finance ministry expects the economy to grow by 2.2% in 2024, a decrease from the initial
The AUD/JPY currency pair experienced moderate gains on Wednesday, recording a 0.46% increase. However, it started Thursday’s session on a slightly lower note, trading below the previous day’s close of 96.42. Despite this, the pair has shown potential for further gains as buyers reclaim the Kijun-Sen and find support around the bottom of the Ichimoku