In a surprising move, billionaire CEO of Tesla, Elon Musk, publicly endorsed Donald Trump for the first time in the U.S. presidential race. Musk took to social media to express his support for the Republican former president, referring to him as “tough” and endorsing him for the upcoming election. This public endorsement marks a significant
Argentina’s central bank recently announced a new strategy to combat inflation and stabilize the country’s money supply. Economy Minister Luis Caputo revealed the plan on Saturday, noting that it would contribute to deepening the disinflation process. The move involves selling U.S. dollars in the parallel foreign exchange markets, marking a significant shift in the country’s
A group of whistleblowers from OpenAI have taken a stand against the company’s allegedly restrictive non-disclosure agreements. According to a report from the Washington Post, the whistleblowers have filed a complaint with the U.S. Securities and Exchange Commission (SEC) calling for an investigation into the matter. They claim that OpenAI’s employment, severance, and nondisclosure agreements
The recent news of potential interest rate cuts by the U.S. Federal Reserve has caused a mixed reaction on Wall Street. While the S&P 500 and Dow Jones Industrial Average reached intraday record highs, big banks like JPMorgan Chase and Wells Fargo saw their stock prices decline after reporting mixed results. This indicates that investors
The dollar experienced a sharp decline against the yen for the second consecutive day. Speculation arose regarding potential intervention by Japan amidst the weakening of the dollar. This decline coincided with a broader rise in global equities markets, driven by expectations of upcoming interest rate cuts by the U.S. Federal Reserve. Following the release of
The US Dollar Index (DXY) has been on a downward trend lately, hitting lows not seen since April. This can be attributed to the disappointing US Consumer Price Index (CPI) figures released recently, along with softer University of Michigan (UoM) sentiment data. These factors have bolstered the belief in the market that the Federal Reserve
The Australian Dollar (AUD) has continued its positive trajectory against the USD, reaching 0.6780 in Friday’s session. The momentum was fueled by market participants adjusting their positions on the Federal Reserve (Fed) after the release of US inflation data. The AUD managed to rise by 0.30%, maintaining its bullish stance and reaching the highest level
When it comes to financial decision making, it is crucial to note the importance of conducting your own research and due diligence. The information provided on various platforms, including websites, should be viewed as general news and publications. It is essential to understand that this information may not necessarily be real-time or accurate. Remaining Critical
The American annual headline inflation rate experienced a decline recently, marking the first time in over four years that the monthly Consumer Price Index (CPI) has decreased. This drop can be attributed mainly to the decreasing costs of energy, although other sectors such as shelter, vehicles, and transportation also played a role. Surprisingly, food inflation
The GBP/USD pair has been making significant strides in the market, hovering above the 1.2900 resistance level. A crucial bullish trend line has been forming with support around 1.2910, signaling a potential upward movement. The pair has managed to break above the 50-hour simple moving average and breach the 1.2900 mark, reaching as high as
In June, China experienced a decline in imports by 2.3% in U.S. dollar terms, missing expectations for slight growth. This contrasted with a forecast of 2.8% growth, highlighting a potential slowdown in the economy. On the other hand, U.S. dollar-denominated exports for June saw a significant increase of 8.6% year on year, surpassing expectations for
AUDUSD has made a significant move by breaking decisively above a sideways pattern that it has been trading within for over two months. This breakout has propelled the price to its highest level since January 2024, marking a notable shift in the market sentiment. Resistance and Support Levels With the pair now marching towards fresh