Sen. Elizabeth Warren has made serious allegations against the Federal Reserve Chair, Jerome Powell, claiming that he is caving to the demands of the financial industry. Warren’s concerns stem from Powell’s willingness to entertain changes to the Basel III Endgame regulations, which are designed to bolster the capital requirements for major American banks. In a
The recent price behavior of the Nasdaq 100 (US Tech 100 mini on FXOpen) has shown some interesting patterns. Initially, there was uncertainty near the resistance level of 18,840, followed by a decline and a test of the former resistance at 18,250. The long lower shadow on the candle indicated aggressive demand, giving the bulls
The Reserve Bank of Australia (RBA) decided to keep rates at a 12-year high of 4.35% on Tuesday, meeting expectations from the market. The central bank did warn about the importance of remaining cautious regarding inflation risks, leading traders to adjust their expectations on a potential rate cut for the rest of the year. Despite
China has recently announced an anti-dumping investigation into imported pork and its by-products from the European Union, a move that seems to be targeting Spain, the Netherlands, and Denmark. This investigation is seen as a response to restrictions placed on China’s electric vehicle exports. The probe will focus on various pork products intended for human
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Gold prices took a dive following a failure to sustain Friday’s gains, with a retest of the $2300 mark becoming a possibility. The US Dollar Index (DXY) showed strength, but encountered strong resistance at 105.63. Despite geopolitical tensions taking a backseat for the time being, risks still linger on the horizon. The beginning of the
Costco Wholesale Corp. (COST) has been under the lens of Elliott Wave Theory, which provides a detailed examination of the company’s price movements. Through this analysis, traders can gain insights into potential opportunities based on the current market trends and structural behavior. Upon scrutinizing the daily chart of COST, it becomes apparent that the company
Gold recently experienced a significant pullback from its all-time high of 2,450, resulting in a break below the 50-day simple moving average (SMA). This led to a dip in price, with gold hitting a fresh one-month low on June 7. However, since then, there has been a slight recovery as the bulls focus on the
Starboard Value, an activist fund led by Jeff Smith, has recently acquired a significant stake in graphics-design company Autodesk. The fund has engaged in discussions with Autodesk’s board regarding serious concerns about the company’s disclosures surrounding an internal investigation that ultimately led to the removal of its chief financial officer. This move comes as Starboard’s
France’s President Emmanuel Macron recently expressed skepticism towards extreme economic proposals, deeming them unrealistic in the face of significant economic challenges. This dismissal comes amidst a crucial time for the country, with major economic issues at stake. Macron’s focus is on swiftly reaching agreements to tackle looming economic obstacles. The Euro stands as the currency
The European Central Bank policymakers have indicated that they have no intention of discussing emergency purchases of French bonds. Despite the recent turmoil in French financial markets, the ECB is of the opinion that it is the responsibility of French politicians to reassure investors and address concerns related to the prospect of a far-right government
The Bank of England (BoE) is scheduled to convene on Thursday at 11:00 am GMT amid the ongoing General Election. With the political landscape uncertain, trading this event has become more challenging as the central bank is expected to maintain status quo to avoid potential confusion. The likelihood of a rate cut at this week’s