China and the United States are joining forces to establish a more stable and predictable environment for businesses, according to Chinese Commerce Minister Wang Wentao. Following the visit of U.S. Commerce Secretary Gina Raimondo to China last summer, the two nations have committed to regular meetings at various levels. Discussing this ongoing communication during a
Japan’s core inflation rate in Tokyo has fallen below the central bank’s 2% target, signaling the continuation of easing cost pressures in the months ahead. While corporate service inflation remains steady at a nine-year high, rising service prices are gradually replacing escalating costs as the primary driver of price gains. This article analyzes the latest
The GBP/USD pair remains trapped in a narrow trading range in the Asian session on Friday. Traders are eagerly waiting for the release of the US PCE Price Index before placing any fresh directional bets. The lack of a breakthrough in a descending trend-line is hampering the prospects for additional gains. The GBP/USD pair is
The People’s Bank of China (PBoC) recently announced plans to reduce the Reserve Requirement Ratio (RRR) by 0.5 percentage points on February 5. This move by the PBoC is aimed at boosting bank lending to qualified developers and stimulating the real estate market. The announcement of these measures indicates the PBoC’s commitment to supporting economic
JPMorgan Chase, the largest bank in the United States, has announced a series of executive role changes as the organization continues its search for a potential successor to CEO Jamie Dimon. These changes aim to provide key executives, namely Jennifer Piepszak and Marianne Lake, with more experience and exposure to different areas of the bank.
The USD/JPY pair is currently experiencing a downside correction after reaching a peak near 148.80. The pair has traded below a key bullish trend line with support at 147.75 on the 4-hour chart, signaling a possible decline in the near future. Furthermore, the pair has tested the 146.80 support zone and the 23.6% Fibonacci retracement
Gold prices have witnessed a slight decrease of 1% over the past week and a 2% dip since the start of 2024, currently standing near $2,030. This dip in gold prices may be attributed to various factors, including market uncertainties and changes in investor sentiment. The overall market structure on the daily timeframe of XAUUSD
Japan’s top currency diplomat, Masato Kanda, is closely monitoring how central bank decisions, particularly the expected end to negative interest rates in Japan, will affect markets. He acknowledges that these events have the potential to trigger volatile asset movements but refrains from commenting on the growing expectations that the Bank of Japan (BOJ) will put
EUR/USD is trading lower near 1.0880 during the Asian session on Thursday, as the US Dollar (USD) is making efforts to retrace its recent losses. The 14-day Relative Strength Index (RSI) for the EUR/USD pair is positioned below the 50 mark, indicating a bearish momentum in the market. The lagging indicator Moving Average Convergence Divergence
Bank of Japan Governor Kazuo Ueda recently discussed the blueprint for exiting negative rates, shedding light on two focal points: wage growth and the services sector. The Jibun Bank Services PMI unexpectedly increased from 51.5 to 52.7 in January. This significant growth indicates a noteworthy rise in input prices and hiring among service sector firms.
In a surprising move, billionaire hedge fund manager Bill Ackman and his wife Neri Oxman have acquired a nearly 5% stake in the Tel Aviv Stock Exchange (TASE). This acquisition comes as the Israeli exchange announced a secondary offering of its shares, making Ackman and Oxman’s purchase worth approximately $25 million. The news highlights the
Looking at the monthly timeframe, it is evident that the trend for EUR/CHF is firmly to the downside. A significant technical observation on this scale is the completion of a bearish chart pattern. This breakout lower beneath the lower boundary of a descending triangle formation, which extended from the high of CHF1.0042 and a low