Chinese officials recently emphasized the importance of focusing on the country’s internal affairs amidst rising trade tensions. Han Wenxiu, deputy director at the Chinese Communist Party’s central committee office for financial and economic affairs, highlighted three key areas of focus. These include the stable and healthy development of the real estate market, accelerated development of
Gold prices in the Philippines experienced a decline on Thursday, according to data from FXStreet. The price of Gold per gram dropped to 4,580.42 Philippine Pesos (PHP) from 4,607.54 PHP on Wednesday. Similarly, the price per tola decreased to 53,425.16 PHP from 53,741.41 PHP the day before. FXStreet calculates Gold prices in the Philippines by
India’s central bank recently announced that the country’s natural rate of interest has been on the rise since the onset of the pandemic. This trend is expected to continue, driven by the growth of potential output. Analysts have pointed out that this increase in the natural rate of interest may constrain the central bank’s ability
The recent breakout in the USDCHF currency pair confirmed the bearish bias that was shared with members of Elliottwave-Forecast. This breakout signals a continuation of the bearish sequence that began after the completion of the medium-term bullish corrective cycle that started in December 2023. The analysis of the weekly chart showed a high likelihood of
China’s economic growth has led to the rapid expansion of its middle class, with the number of upper-middle and high-income households expected to reach 200 million next year according to McKinsey. However, despite this growth, China still lags behind the U.S. in terms of per capita income. The per capita disposable income of China’s middle-income
Gold prices in the United Arab Emirates have shown minimal change, with the price per gram remaining relatively stable at 290.59 United Arab Emirates Dirhams (AED). This slight increase from the previous day’s price of AED 290.38 indicates a steady market for this precious metal. Additionally, the price for Gold per tola has also remained
The Canadian Dollar (CAD) has shown some signs of firmness, although the increase is marginal. In comparison to the broad softness of the US Dollar (USD), the CAD is not performing as well as expected. Shaun Osborne, Scotiabank’s Chief FX Strategist, mentions that the Mexican Peso (MXN) is also losing ground amidst President Trump’s support
Recently, the US Dollar observed a significant fall, reaching the lowest value since March. This decline can be attributed to several factors, including Federal Reserve bets leaning towards a dovish stance and strong housing data that could not prevent the downward pressure on the USD. The Federal Reserve’s dovish stance has had a substantial impact
Over the past four weeks, the EUR/CHF cross pair has experienced a significant rally, bouncing back from losses incurred between 10 June and 19 June. This initial decline was triggered by political uncertainties surrounding the abrupt announcement of a French legislation snap election by President Macron on 9 June. As a result, the currency pair
Federal Reserve Governor Christopher Waller recently expressed his belief that interest rate cuts are on the horizon, provided there are no unexpected developments in inflation or employment. In a speech at the Kansas City Fed, Waller indicated that the current data align with the possibility of a “soft landing” and mentioned that he will closely
Citizens Financial (NYSE:CFG) has exceeded expectations for its second-quarter profit, despite facing challenges with weaker lending. The bank’s performance was buoyed by the strength of capital markets, which helped mitigate the impact of the decline in lending activity. As the U.S. economy remains resilient, corporate executives have been taking advantage of favorable market conditions to
The ongoing disputes over the contested Second Thomas Shoal in the South China Sea have escalated tensions between the Philippines and China. The Philippines has maintained a grounded warship on the shoal since 1999, sending regular supply missions to the troops stationed there. Recent clashes, including a June 17 incident where a Filipino sailor lost