Following heavy rains and severe flooding in the United Arab Emirates, Emirates and flydubai have announced the restoration of normal operations. The flagship carrier, Emirates, had to cancel nearly 400 flights and experienced extensive delays due to a record storm that hit the desert city of Dubai earlier in the week. The airlines were heavily
Social media platform X has taken a bold stance by announcing its intention to challenge an order from an Australian regulator that demands the removal of certain posts related to the stabbing of a bishop in Sydney. The incident involved a 16-year-old boy being charged with a terrorism offense for allegedly stabbing Bishop Mar Mari
The International Monetary Fund (IMF) Managing Director, Kristalina Georgieva, emphasized the pressing need to address the challenges faced by low-income countries during a recent meeting with shareholders. According to reports from the IMF and the World Bank, many low-income developing countries are grappling with unsustainable debt burdens and economic instability due to the lingering impacts
With gold prices surpassing $2400.00 USD and reaching a new all-time high, it is evident that market demand for “safe-haven” assets is on the rise. The current economic and geopolitical landscapes are rife with uncertainty, leading investors to seek out stable and secure investment options. The escalating tensions in the Middle East have only exacerbated
Procter & Gamble (PG), American Express (AXP), and Schlumberger (SLB) are scheduled to release their quarterly earnings reports before the market opens on April 19, 2024. Procter & Gamble is expecting a modest increase in earnings, with a projected growth rate of 3.65%. Meanwhile, American Express anticipates a more substantial 23.75% rise in earnings, rebounding
Recent reports of Israeli missiles striking a site in Iran have heightened tensions in the Middle East, leading to a wave of risk-aversion across global financial markets. The uncertainty surrounding the situation has caused investors to flock to safe-haven assets, such as Gold, pushing prices towards record highs. The S&P 500 futures have taken a
A wave of risk aversion hit the markets, causing a sharp decline in the Australian and New Zealand dollars, while the yen gained support as investors sought safe-haven assets. The news of explosions in Iran raised concerns about the escalation of the Israeli-Hamas conflict in the Middle East, leading to a flight to safety. This
China’s fiscal stimulus efforts are facing challenges as noted by S&P Global Ratings senior analyst Yunbang Xu. The current strategy seems to be losing its effectiveness and it is now viewed more as a tactic to buy time for industrial and consumption policies rather than a sustainable solution to boost the economy. Xu emphasized that
Taiwan Semiconductor Manufacturing Company (TSMC) recently reported impressive first-quarter results, surpassing both revenue and profit expectations. With a net revenue of 592.64 billion New Taiwan dollars and a net income of NT$225.49 billion, TSMC showcased its strong position in the market. The firm saw a 16.5% increase in net revenue from the previous year and
Upon examining the short term Elliott Wave view in EURJPY, it is evident that the rally to 165.35 marked the end of wave 3. The subsequent wave 4 pullback unfolded as a double three Elliott Wave structure. The detailed breakdown of the waves, such as wave ((w)), wave ((x)), wave (w), wave (x), and wave
The USD/JPY pair has been experiencing a continuous decline, with the US Dollar correction putting pressure on the pair. The Japanese Yen, on the other hand, seems to have received support from Japan’s trade balance shifting to a surplus in March. This shift in trade balance might have contributed to the strengthening of the Yen
The recent comments from Federal Reserve officials have solidified the expectation of monetary settings remaining restrictive for a while longer, leading to the dollar’s rise. Traders are now evaluating the U.S. interest rates outlook based on strong economic data and persistent inflation. The tension in the Middle East has further strengthened the dollar’s safe-haven appeal,