The UK 100 stock index (cash) has been experiencing a downturn for the past six trading days, with the price dropping significantly to reach a critical support level of 8,110. The failure to surpass the key resistance area of 8,300 and the important resistance line from February 2022 has raised concerns about a potential negative
As the Reserve Bank of Australia (RBA) considers its next move to return inflation to target levels, investors are left questioning how determined the Board is in this pursuit. With a deteriorating labor market and macroeconomic conditions, the possibility of an August rate hike looms large. The RBA Meeting Minutes could offer insights into the
The recent revelation that meme stock trader Keith Gill, also known as “Roaring Kitty,” has acquired a 6.6% stake in Chewy sent the company’s shares soaring in premarket trading. Gill bought over 9 million shares, making him the third-largest shareholder in the pet food e-commerce retailer. This move has positioned him as a significant player
The recent motion filed with the U.S. court to postpone the hearing of the winning bid in the auction of shares of Citgo Petroleum’s parent company until September 19 raises concerns about the possible implications of delaying such a crucial decision. The request for a two-month delay, made by the Delaware court officer evaluating bids,
The recent parliamentary elections in France, where Marine Le Pen’s far-right party, the National Rally (RN), won the first round, had a significant impact on the financial markets. Exit polls revealed that the victory of RN led to a rise in the euro’s exchange rate against other currencies. The EUR/USD rate surged to its highest
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Boeing has announced its decision to acquire Spirit AeroSystems in a $4.7 billion all-stock deal after months of negotiations. The total deal value, including debt, amounts to approximately $8.3 billion. This move comes amidst a corporate and industrial crisis that has impacted both Boeing and Spirit AeroSystems. Under the terms of the acquisition, each share
Gold prices are currently experiencing a period of uncertainty and range-bound trading as various fundamental factors exert influence on the precious metal’s value. The price of gold has been unable to break above the $2,330 level, as traders adopt a cautious approach due to uncertainties surrounding the Federal Reserve’s rate-cut path. The recent hawkish comments
The US ISM Manufacturing Purchasing Managers’ Index (PMI) is a key economic indicator that provides insights into the health of the manufacturing sector in the United States. The latest data on the US ISM Manufacturing PMIs for the month of June is eagerly awaited by investors and analysts alike. It is important to note that
Gold prices are seeing a decline in early Asian trading hours, hovering near $2,325. The recent data on inflation in the US has shown a decrease to its lowest annual rate in over three years. This has impacted the market sentiment and contributed to the drop in gold prices. The upcoming US June ISM Purchasing
The EUR/USD pair has recently started a recovery wave above the 1.0710 resistance level, indicating a positive trend in the short term. The pair successfully cleared a major bearish trend line with resistance at 1.0725 on the 4-hour chart, which further supported the bullish momentum. However, despite the positive movement, the pair is currently facing
Recent data from Japan has shown a mixed economic outlook, with Japanese big manufacturers’ confidence reaching a more than two-year high, while the service-sector mood has soured due to rising costs driven by the weak yen. According to a central bank survey, the improvement in business sentiment may have peaked, especially for non-manufacturers. The findings