GBPJPY has recently pulled back from its 16-year peak of 208.10, signaling a shift in momentum. The pair has fallen to its lowest level since May 16, indicating a potential correction in the market. Both the RSI and MACD indicators are warning of an overstretched retreat, suggesting that bearish pressure may continue in the short
In recent trading sessions, the USD/JPY pair witnessed a significant decline, plummeting below key support levels. The 4-hour chart clearly indicates the bearish momentum, with the pair breaching the crucial 155.50 level along with the 100 and 200 simple moving averages. Despite a slight recovery from the 152.00 support, the pair faces a major bearish
The cryptocurrency markets have witnessed a significant milestone this week as spot ether exchange-traded funds have made their debut. Among the notable players in this development is Franklin Templeton, one of the nine spot ether ETF applicants that received approval from the Securities and Exchange Commission on Tuesday. The Franklin Ethereum ETF (EZET) has experienced
In recent weeks, Berkshire Hathaway, led by Warren Buffett, has been on a selling spree when it comes to its stake in Bank of America. Over the course of six trading days, the conglomerate has sold millions of shares of the bank, totaling billions of dollars. One possible reason for this sell-off could be valuation
Sotheby’s, a renowned auction house, is taking a new approach to selling in Hong Kong with the introduction of its first retail outlet. This retail space will offer a wide range of items, from collectible trainers to dinosaur fossils, at prices ranging from several hundred dollars to millions. Luxury spending in China has experienced a
The GBP/USD is currently facing a decline as market participants speculate about a potential rate cut by the Bank of England. There is a 53% chance of rate cuts in August according to market participants, but economists polled predict an 80% chance of a cut. The possibility of a rate cut has caused concerns about
South Korea has recently proposed tax cuts as a part of its strategy to stimulate the domestic stock market and address the declining birth rate, which is currently the lowest in the world. This move aims to enhance the “Corporate Value-up Programme” that was introduced earlier this year. Among the proposed measures is a revision
Making financial decisions can be a daunting task, and it is crucial to perform your own due diligence before taking any action. The information provided on various platforms, including websites, may not always be accurate or up-to-date. It is essential to consult with competent advisors and apply your own discretion before making any investments. The
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