The Australian Trade Balance has seen a deterioration due to various factors such as lackluster demand from China, the collapse of the real estate market, and the slump in iron ore prices during the first half of 2024. Additionally, trade tensions between countries and the weak global demand environment have also played a significant role
The latest meeting minutes of the Federal Reserve officials highlighted their concerns about the U.S. economy showing signs of slowdown. The officials noted that “price pressures were diminishing” and that there were various developments in both the product and labor markets indicating a decline in inflation. Despite these warning signs, the officials decided not to
The American Reshoring ETF, managed by Tema ETFs CEO Maurits Pot, stands as a beacon of hope for U.S. manufacturing job resurgence. Pot believes that the trend towards deglobalization is only beginning, with a focus on job creation and bringing back local manufacturing jobs to the forefront. Launched in May 2023, the ETF has already
The monthly scale of the currency pair has shown promising signs of a potential breakout. The price has been forming higher highs and higher lows, indicating a bullish trend. In January 2023, the pair reached a high of $1.2448, followed by a higher low of $1.1803 in March 2023. Subsequently, another higher high was reached
The AUD/USD pair has recently seen an uptick to 0.6676, indicating a potential shift in market dynamics. However, despite this increase, the currency pair remains trapped in a sideways pattern, highlighting the lack of clear directional momentum at the moment. The Australian dollar’s rise can be attributed to the weakening stance of the US dollar,
The EUR/JPY cross is currently trading around 173.80 in the European session, showing a 0.20% increase for the day. This positive momentum can be attributed to the weakening of the Japanese Yen (JPY) against the Euro (EUR) as Japanese business activity turned contractionary in June. The final reading of Japan’s Services PMI fell to 49.4
China remains a dominant force in the global supply chain for many critical minerals, including tungsten. This metal, known for its hardness and high energy density, is a key material in various industries such as weapons, autos, electric car batteries, semiconductors, and industrial cutting machines. Chipmakers like Taiwan Semiconductor Manufacturing Company and Nvidia heavily rely
The trend of passion tourism is gaining momentum, with Americans traveling overseas to attend events that match their personal interests or hobbies. This form of travel is not solely driven by the destination but instead by the desire to engage in a particular activity or attend a cultural event that resonates with the individual. Recent
GBPCAD recently experienced a bounce off the uptrend line, recovering above the 50-day simple moving average (SMA) following a 2% correction in June. This correction caused the price to dip below the SMA, but it managed to stay above the upper ascending trendline that has been in place since the autumn of 2023. While the
European Central Bank policymaker Gabriel Makhlouf expressed his comfort with the idea of just one more interest rate cut for the rest of the year. Despite market expectations of potentially two more interest rate reductions by December, Makhlouf, who serves as Ireland’s central bank governor, struck a more cautious tone during an interview. While he
Federal Reserve (Fed) Chairman Jerome Powell and European Central Bank (ECB) President Christine Lagarde recently shared their insights on the monetary policy outlook during the ECB Forum on Central Banking in Sintra. Powell emphasized that “Services inflation is usually stickier,” indicating that the inflation in the services sector tends to be more persistent. Lagarde pointed
Wall Street’s index futures experienced a slight dip on Tuesday following a strong session, primarily driven by a pullback in megacap stocks. Companies such as Microsoft, Apple, Amazon.com, and Tesla experienced fluctuations in premarket trading after significant gains in the previous day. This shift in stock prices raises concerns regarding the stability of the market