The Bank of Japan’s decision to exit negative interest rates has had a significant impact on the USD/JPY exchange rate, causing it to tumble to the 154 handle. This move was influenced by forward guidance, which affected buyer demand for the Japanese Yen. The BoJ signaled the need for accommodative policy measures, leading to a
The short-term Elliott Wave view in Nikkei Futures (NKD) indicates that the rally to 40960 marked the end of wave 3. Currently, the market is experiencing a pullback in wave 4, which is unfolding as a double three Elliott Wave structure. The downward movement from wave 3 saw wave (a) ending at 40025 and wave
The financial sector in Vietnam has been rocked by the revelation of a major fraud at Saigon Joint Stock Commercial Bank (SCB). According to documents obtained by Reuters, the situation at SCB is dire, with the bank on the brink of collapse. The new information provided to Reuters outlined the unprecedented scale of the cash
Sheila Bair, the former chair of the U.S. Federal Deposit Insurance Corp, has expressed concerns about the upcoming regional bank earnings. She believes that these quarterly numbers could shed light on critical weaknesses within the industry. Bair specifically pointed out that some regional banks are still heavily reliant on industry deposits, exposed to concentrated commercial
The EUR/USD pair has been trading on the defensive around 1.0615 in the early Asian session on Wednesday. This comes as Federal Reserve Chairman Jerome Powell made comments indicating that it is appropriate to maintain a restrictive policy given the strength of the labor market. Powell also mentioned that inflation is not progressing as desired
The CME FedWatch Tool recently showed a decline in the probability of a June Fed rate cut, dropping from 20.7% to 18.8% on April 16. This shift comes after a significant decrease from 56.1% to 20.7% just a week prior on April 9. Additionally, bets on a September rate cut have also become less dovish,
The 2023-24 budget presented by Finance Minister Chrystia Freeland introduces a significant change in the inclusion rate on capital gains. Individuals with capital gains exceeding $250,000 annually will now face an inclusion rate increase from one-half to two thirds. Moreover, corporations and trusts will also be subjected to this higher inclusion rate on all capital
Bank of America recently released its first-quarter earnings report, showcasing a strong performance that exceeded analysts’ expectations. The bank reported earnings of 83 cents per share, beating the expected 76 cents per share. Additionally, the revenue reported was $25.98 billion, surpassing the forecasted $25.46 billion. Despite these positive figures, the bank saw a decline in
When it comes to Morgan Stanley’s first quarter results, the numbers speak for themselves. With earnings coming in at $2.02 a share, surpassing the $1.66 LSEG estimate, and revenue reaching $15.14 billion, beating the expected $14.41 billion, it’s clear that the bank has had a successful start to the year. One of the key highlights
The XAU/USD gold chart today is showing that the historical record price of gold has surpassed USD 2,400 per ounce. This increase in price can be attributed to a variety of factors, including fears of a new round of inflation due to rising commodity prices and ongoing geopolitical tensions around the world. Active military conflicts
The latest data on China’s real estate market reveals that new home prices experienced the sharpest decline in over eight years in March. This drop in prices is attributed to the ongoing debt crisis facing major property developers, which has had a significant impact on demand and the overall economic outlook of the country. The
The NZD/USD currency pair has been on a downward trend, with the New Zealand Dollar depreciating to near 0.5880 during the Asian trading session. This movement can be attributed to the escalated geopolitical tensions in the Middle East, specifically the anticipation of Israel’s response to Iran’s recent assault. As a result, investors have been turning