The gold price is currently hovering near a three-week low as the market anticipates a potential rate cut by the Federal Reserve. The speculation surrounding a rate cut is driven by signs of easing inflationary pressures in the United States. This expectation is undermining the value of the US Dollar, which, in turn, is providing
Dutch digital bank Bunq has ambitious plans to expand its operations into the United Kingdom by securing a banking license from UK financial regulators. The firm’s CEO and founder, Ali Niknam, expressed optimism about the prospects of obtaining the license, citing the growing market of British digital nomads as a key opportunity for Bunq’s growth.
The AUD/USD currency pair is often influenced by a variety of economic data releases. These data points can provide crucial insights into the health of the economies of both Australia and the United States, leading to fluctuations in the exchange rate between the two currencies. One of the key factors that can impact the near-term
The latest data released on Monday shows that China’s Caixin S&P Global Manufacturing Purchasing Managers’ Index (PMI) increased from 51.4 in April to 51.7 in May, surpassing market expectations of 51.5. This indicates a growth in both supply and demand, with production expanding at the most significant rate since June 2022. Wang Zhe, an economist
North Dakota Gov. Doug Burgum has come out to deny claims made by the Washington Post that former President Donald Trump promised to reduce regulations for oil executives in exchange for financial support for his return to the White House. According to Burgum, who was present at the meeting in question, Trump did not ask
As Asia kicks off the new trading month for global markets, all eyes are on the manufacturing PMI data from the continent’s biggest economies. Countries such as China, Japan, Taiwan, Australia, South Korea, and India will release figures showing how factory activity fared last month. One of the most anticipated numbers is China’s unofficial Caixin
In the world of investing and trading, Elliott Wave analysis has become a popular method for predicting market movements. When looking at the NASDAQ 100 (NDX), QQQ ETF, SP500 (SPX), SPY, Apple (AAPL), Tesla (TSLA), Amazon (AMZN), Nvidia (NVDA), Microsoft (MSFT), Meta Platforms (META), Netflix (NFLX), and Alphabet (GOOGL), it is clear that a developing
The stock markets in the Gulf region saw a positive trend on Sunday, with the Saudi index leading the way. After hitting a five-month low, the benchmark index in Saudi Arabia rose by 1.1%. This increase was primarily driven by gains in various sectors, particularly in IT, utilities, and healthcare stocks. Notably, ACWA Power saw
The Australian housing market continues to show strong growth, with home prices climbing at a brisk pace in May. According to data from property consultant CoreLogic, national home prices rose 0.8% in May, marking the sixteenth consecutive month of growth. This surge in prices is largely attributed to a sustained squeeze on the supply of
The unemployment rate is expected to hold steady at 3.9%, with a high estimate of 4.0% and a low of 3.8%. Wage growth is projected to see a moderate increase from +0.2% to +0.3% between April and May, maintaining a year-over-year growth rate of +3.9%. In addition to these key figures, the upcoming week also
As we approach the release of GDP numbers for Q1 in Australia, the market is eagerly anticipating the impact it will have on buyer demand for the Aussie dollar. Economists are forecasting a modest expansion of 0.2%, following a 0.2% growth in Q4 of the previous year. Additionally, trade data for April will also be
Jan van Eck, the CEO of VanEck, shared his thoughts on the significant sentiment shift occurring in the cryptocurrency market following the U.S. Securities and Exchange Commission’s decision to approve a rule change allowing for Ethereum exchange-traded funds. Van Eck expressed his amazement at this development, highlighting it as one of the most remarkable occurrences