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
The recent approval of Bitcoin ETFs has had a significant impact on the cryptocurrency market. With investments in these financial instruments amounting to about 9k bitcoins per day, and miners producing only 900 bitcoins per day, the total investment in Bitcoin ETFs is approaching USD 50 billion. This compared to just over USD 90 billion
The automotive industry is experiencing a significant shift towards electric vehicles, leading to a surge in the demand for cutting-edge in-vehicle technology. One of the key players in this space is Ecarx, a company founded by Geely’s Eric Li in 2017. Ecarx specializes in providing software and chip systems for digital car cockpits and driver-assist
The Western Texas Intermediate (WTI) prices took a hit, dropping to $77.75 in Thursday’s early Asian session. This decline can be attributed to the Federal Reserve’s decision to delay the first rate cuts. With rising US oil stocks adding pressure, the WTI benchmark is facing challenges in maintaining its price stability. The Energy Information Administration
The G20 finance ministers faced a contentious discussion over the handling of frozen Russian assets during their recent meeting in Sao Paulo. Western powers were at odds over the issue, with the Group of Seven major democracies divided on whether to use the assets to finance the reconstruction of Ukraine. U.S. Treasury Secretary Janet Yellen