In a new turn of events, hardline U.S. House Republicans have urged Speaker Mike Johnson to abandon discussions with Senate Democrats regarding bipartisan spending legislation. The ultraconservative House Freedom Caucus, a faction within the Republican majority in the House of Representatives, proposed implementing an automatic spending cut instead of negotiating with Democrats. This drastic request
The world of trading can be a rollercoaster ride, with bulls and bears constantly battling it out in the market. Analyzing the market scenarios is crucial for making informed decisions that can lead to profitable outcomes. In this article, we will delve into different trading scenarios and how to navigate them effectively. According to the
Gold price has remained stable within the $2020-30 range after the US Federal Reserve (Fed) released January’s meeting minutes, indicating that the Fed is not in a rush to cut rates in the near future. Although this could be perceived as “hawkish,” US Treasury bond yields and the value of the Dollar showed minimal reaction
The U.K. saw an impressive record of £16.7 billion ($21.1 billion) net budget surplus in January, as reported by the Office for National Statistics. This surplus in January is not uncommon, as it is typically driven by receipts from self-assessed annual income tax payments. In January, combined self-assessed income and capital gains tax receipts reached
EUR/USD has shown bullish momentum as it surpassed the crucial resistance level of 1.0800. This bullish trend has been supported by a key bullish trend line with a support level around 1.0790 on the hourly chart. The pair managed to climb above the resistance zone and settled above the 50-hour simple moving average, indicating a
In recent days, Asian stocks have experienced a slide due to diminishing expectations of early interest rate cuts from the Federal Reserve. This has impacted risk appetite among investors, leading to a decline in stock prices. The MSCI’s broadest index of Asia-Pacific shares outside Japan was down by 0.09% on Wednesday, reflecting the cautious sentiment
Asian shares slipped from 1-1/2 month highs on Tuesday as a record rate cut in China failed to excite investors. Despite the China’s five-year loan prime rate being lowered by 25 basis points to 3.95%, which was more significant than forecasted, the reaction from the market was lackluster. The Shanghai Composite remained flat and blue
The recent bullish trend in the gold price (XAU/USD) has been largely attributed to comments from Federal Reserve (Fed) policymakers indicating that inflation is on a downward trajectory. Despite stubborn Consumer Price Index (CPI) and Producer Price Index (PPI) data for January, Fed policymakers remain confident that inflation is moving in the right direction. This
Barclays recently reported a fourth-quarter net loss of £111 million, which was significantly lower than the expected net profit of £60.95 million, as predicted by analysts. Despite the challenging financial results, the British lender announced an extensive strategic overhaul to reverse declining profits. CEO C.S. Venkatakrishnan stated that the bank will implement a major restructuring
The Conference Board’s report in December highlighted weak consumer sentiment, leading to concerns about a potential Fed rate cut in May. With six out of ten leading indicators contributing positively to the headline figure in December, forecasts are now pointing towards a potential economic downturn. It is essential for investors to not only focus on
The Australian dollar faced a significant decline last Tuesday, dropping by 1.18% due to higher-than-expected US inflation figures. This surge in US inflation boosted the US dollar, causing the Aussie to plummet. However, the currency has since bounced back and is currently trading at a two-week high against the US dollar. Investors are eagerly awaiting
Recent data has revealed that both the UK and Japan are facing a technical recession, marked by a consecutive decline in gross domestic product. While the UK’s economic downturn can be attributed to high inflation and strict policies imposed by the Bank of England, Japan’s recession may be linked to its ongoing population decline spanning