RBA Governor Michele Bullock recently spoke at a press conference following the central bank’s August monetary policy decision. During the conference, she highlighted the key aspects discussed by the board, emphasizing the importance of maintaining the current interest rate at 4.35%. Bullock also expressed concerns about the slow progress in reaching the inflation target and
The short term Elliott Wave view in Oil (CL) suggests that the cycle from the high of 4.12.2024 is currently in progress, following a 5 waves impulse Elliott Wave structure. The downward movement from the high saw wave (1) ending at 72.48, followed by the rally in wave (2) ending at 84.55. Subsequently, the commodity
Currency carry trades, a popular strategy in the foreign exchange (FX) market, involve borrowing in a low-interest-rate environment to invest in a higher-interest-rate environment. This practice can be lucrative for investors seeking higher returns, but it also comes with substantial risks. In the case of the USD/JPY pair, carry trades typically involve being long on
Warren Buffett’s Berkshire Hathaway has been consistently selling off Bank of America shares, with a significant divestment of 19.2 million shares over a three-day period, totaling nearly $779 million. This recent selling spree marks the 12th consecutive day of sales, surpassing $3.8 billion in total. The conglomerate’s remaining stake, consisting of 942.4 million shares, is
The Monetary Authority of Singapore recently established a task force aimed at bolstering the city-state’s stock market. The review group’s primary goal is to evaluate measures to enhance the vibrancy of the Singapore equities market. This initiative is essential for addressing market challenges, fostering listings, and facilitating market revitalization. Additionally, the MAS aims to enhance
The gold price has recently shown a steady increase, surpassing the $2,440 resistance level. It began its upward trend from the $2,420 zone and formed a key bullish trend line with support near $2,440. The price found significant support near the $2,320 zone and continued its bullish momentum above $2,400. The bulls successfully pushed the
PortfolioPilot, an automated financial advisor, has managed to accumulate an impressive $20 billion in assets within a short period of time. Started by Alexander Harmsen, co-founder of Global Predictions, this service has witnessed a surge in users since its inception two years ago. Thanks to recent investments from Morado Ventures and the NEA Angel Fund,
Character.AI, a startup in the AI industry, recently announced a major agreement with Alphabet’s Google, granting the tech giant a non-exclusive license to their large language model technology. This deal comes in the wake of similar agreements made by Microsoft and Amazon in recent months, indicating a growing trend among tech giants to invest heavily
The cryptocurrency market experienced a 0.75% loss in a 24-hour period, bringing its total market value down to $2.29 trillion. This decline follows a day of mixed performance, with cryptocurrencies slipping while equities showed positivity on Wednesday. However, Thursday saw a wave of synchronized selling across the board. This bearish sentiment is reflected in the
The US Dollar (USD) took a significant hit following the release of the disappointing July jobs report, leading to increased speculation about a rate cut by the Federal Reserve in September. The DXY index, which measures the strength of the USD, plummeted to lows not seen since March, hovering around 103.20. This downward trend reflects
In the current global market scenario, investors are facing a significant amount of volatility as concerns arise about the overvaluation of stocks. Despite a relatively strong earnings season, the market sentiments remain uneasy. Central banks around the world have started cutting interest rates, which has resulted in a rally in stocks, cryptocurrencies, and bonds. However,
As fears of a potential recession loom over the global economy, major share indices in Asia took a significant hit on Monday. This downward trend was sparked by concerns that the United States may be on the brink of an economic downturn, leading to a surge in risk aversion among investors. The Nasdaq futures plunged