The gold price has been on the decline for the second consecutive day, reaching a two-week low. While technical selling is one of the reasons for this downfall, it is expected to be limited in scope. The Fed’s anticipated rate cut in September and the prevailing risk-off sentiment in the market could provide some support
As we navigate through the second quarter of 2024, household spending trends continue to show a decline, with a 1.2% drop in April followed by a further 0.3% decrease in May. This weakening in consumer spending raises concerns about the overall demand-driven inflationary pressures that may be looming on the horizon. Such trends could potentially
Former New Federal Reserve President Bill Dudley has recently shifted his stance on the U.S. central bank’s monetary policy, urging the Fed to cut rates in the face of looming recession concerns. Dudley, who had previously advocated for a higher-for-longer rate regime, now believes that the changing economic landscape necessitates a more accommodative approach. Dudley
The continuous decline in Brent crude oil prices down to 81.14 USD per barrel is attributed to the significant reduction in US oil inventories. The recent data from the API shows a decrease of 3.9 million barrels, surpassing the forecasted reduction of 2.5 million barrels, and indicating the fourth consecutive week without correction. Moreover, current
In the upcoming year, many workers may find themselves disappointed with the size of their annual pay raise as the job market enters a phase of cooling off. According to a recent poll conducted by WTW, a consulting firm, the average worker is projected to receive a 4.1% pay raise for 2025, down from the
With the Bank of Canada poised to potentially cut interest rates today, it raises questions about the impact on the Canadian Dollar. This move would make the BoC the second G10 central bank to do so this cycle, following the Swiss National Bank. Commerzbank FX strategist, Michael Pfister, highlights the potential reasons behind this decision
Delta Air Lines has been facing massive disruptions in its flight operations, with over 6,000 cancellations since last Friday. However, the U.S. airline reported a significant improvement in its operations on Wednesday, with only 47 flights cancelled, which is just 1% of its total flights. This marks a stark contrast to the 511 cancellations on
As the Euro struggles to clear the 1.0950 resistance level, it has started a downward trend against the US Dollar. The hourly chart of EUR/USD shows a failed attempt to surpass the 1.0900 support, resulting in a decline below the 1.0875 support and the 50-hour simple moving average. Currently, the pair is consolidating losses near
The semiconductor industry has been witnessing a significant shift in recent years, especially in China. According to a recent report by Bank of America analysts, four of the world’s largest semiconductor equipment manufacturers, including ASML, have experienced a substantial increase in their China revenue since late 2022. This surge in revenue is attributed to China’s
The NZD/USD pair has weakened around 0.5945 in Wednesday’s early Asian session, marking a 0.25% decrease on the day. This downward movement can be attributed to rising expectations of rate cuts by the Reserve Bank of New Zealand (RBNZ) and sluggish Chinese economic activity. The market sentiment has turned risk-off, leading to a modest rebound
Alphabet, the tech giant, saw a 1% drop in its stock price despite beating both top and bottom line expectations in the second quarter. The company reported earnings of $1.89 per share on $84.74 billion in revenue, surpassing the consensus estimates. However, the revenue generated from its YouTube advertising segment fell short of forecasts. Shares
In recent weeks, the dollar index has shown signs of regaining strength after a period of decline. This upward movement, however, appears to be temporary, with technical indicators pointing towards a potential new downward trend. The Federal Reserve’s stance on inflation reduction has led to increased expectations of a rate cut in September, causing short-term