The EUR/USD pair is showing signs of an uptrend, reaching 1.0895 during the early Asian trading session on Monday. This marks a 0.12% increase from the previous day. The weakening of the US Dollar is playing a significant role in supporting the major pair as investors navigate through uncertain market conditions. Federal Reserve’s John Williams
EUR/USD has shown a steady increase recently, surpassing the 1.0910 resistance level. This positive momentum has seen the pair climbing above the 1.0910 resistance, moving into a bullish zone. The 4-hour chart indicates that EUR/USD tested the 1.0950 level and settled above both the 100 simple moving average and the 200 simple moving average. However,
China’s recent decision to cut both short and long-term rates by 10 basis points is a significant move aimed at supporting economic growth. The People’s Bank of China (PBOC) took this step following the release of a policy document outlining the country’s economic goals. This decision is likely to have a direct impact on various
Recently, Nataxis Asia Pacific Chief Economist Alicia Garcia Herrero expressed disappointment in the lack of progress in China’s economic policies. She criticized the lack of change in direction, noting the absence of consumer-led growth initiatives and acknowledgment of the power of market forces in the country. This sentiment reflects a broader concern about the stagnation
Britain’s new finance minister Rachel Reeves is currently contemplating the possibility of granting inflation-busting pay increases for nearly 2 million government employees to prevent potential public sector strikes. Pay review bodies have recommended a 5.5% wage hike for 460,000 teachers and 1.4 million staff within the National Health Service. Reeves emphasized the significance of valuing
The People’s Bank of China is expected to set the one-year and five-year Loan Prime Rates (LPR) at 3.45% and 3.95% respectively. While economists anticipate no change, an unexpected cut could potentially boost demand for the Aussie dollar. Lower lending rates might drive increased credit demand, leading to higher consumption levels. This increase in demand
The current trend in the market of increased investment in small-cap stocks may not simply be a rotation from previous winning growth trades, according to Dave Nadig, an ETF journalist and financial futurist. In fact, Nadig believes that investors are actively diversifying their portfolios rather than shifting their focus solely towards small caps. This diversification
The second-quarter results of U.S. banks have revealed a concerning trend of boosted provisions for credit losses. This increase is primarily due to deteriorating commercial real estate (CRE) loans and the impact of high interest rates, which have sparked fears of potential defaults. Among the banks affected, M&T Bank is taking steps to reduce its
The Brent oil price experienced a rollercoaster ride this week, initially plummeting to a monthly low of USD 83.5 per barrel due to weak Chinese data. However, the price quickly rebounded thanks to some positive developments in the market. Commerzbank’s commodity strategist Carsten Fritsch highlighted that the time spreads of the Brent forward curve widened
The gold price has experienced a significant downside correction after reaching the $2,485 zone. The price surged above the $2,425 resistance level but faced strong resistance near $2,483 before the bears took control. The downward movement led to a break below key support levels, including $2,450 and the 50-hour simple moving average. If the bearish
Netflix, Inc. recently released its second-quarter earnings report, showcasing an impressive performance that solidified its position as a leader in the streaming industry. The company reported a significant increase in global paid memberships, surpassing expectations with a 16.5% year-over-year growth. This growth was accompanied by a 17% rise in revenue, reaching $9.56 billion, driven by
In a recent development, two European Central Bank policymakers have stepped forward to advocate for additional interest rate cuts, citing growing confidence in the trajectory of inflation towards the ECB’s target for next year. This comes in the wake of the ECB’s decision to maintain interest rates at their current levels, with President Christine Lagarde