The Core PCE Price Index is a key indicator to watch as economists predict a 2.8% year-on-year increase in April. This data, along with expectations of a 0.3% rise in personal income and spending, can have significant implications for the AUD/USD exchange rate. The rise in personal income and spending in March may lead to
In April, Japanese Retail Trade experienced a modest growth of 2.4% year-over-year, surpassing the anticipated 1.9% rise. This positive trend marks a recovery from the previous period’s 24-month low of 1.1%, which was later revised even lower to 1.2%. Alongside this growth, Japanese Large Retailer Sales also increased by 3.0% year-over-year in April. However, this
John Williams, the New York Federal Reserve President, recently shared his views on the current state of inflation, expressing his belief that it is still too high. However, he remains optimistic that inflation will begin to decelerate later in the year. Despite the market’s anticipation of potential interest rate cuts, Williams did not provide any
The US Dollar Index (DXY) experienced a retreat on Thursday after a sharp recovery the previous day. This decline can be attributed to the release of US Gross Domestic Product (GDP) revisions and soft Jobless Claims figures. The bond market surge on Wednesday that resulted in gains for the USD has now been reversed due
Kohl’s shares took a drastic nosedive of more than 20% in premarket trading as the company shocked investors with a loss per share instead of the expected profit. The loss equated to 24 cents per share, a stark contrast to the 4 cents profit that Wall Street had anticipated. Additionally, the revenue fell short of
The Euro experienced a significant drop on Wednesday, marking the largest daily loss since April 30th. This decline was primarily driven by fresh risk aversion in the market. However, bears were able to find support around the 1.0790/80 zone, which includes the top of the thick daily cloud, 200DMA, and the Fibo 38.2% of the
The commodity market is notorious for its constant fluctuations and struggles to maintain a steady upward momentum. Recently, on Thursday, the price of Brent crude oil experienced a significant drop to 83.60 USD per barrel. This downturn was preceded by a loss of nearly 1% in value on Wednesday evening, driven by concerns over lending
The CEO of Trustly, Johan Tjarnberg, recently disclosed to CNBC that the Swedish fintech startup is not in a rush to go public with an initial public offering (IPO) despite a substantial increase in operating profit. Tjarnberg emphasized the importance of proving the value and impact of the company’s open banking technology to investors before
In the recent Elliott Wave analysis of the VanEck Semiconductor ETF (SMH), it was observed that there is an impulsive trend in play with a motive structure. The ETF is currently positioned in Minor wave 5, indicating an upward movement in Minor wave 5. The Medium Level at $250 has already been reached, signaling a
The dollar surged to a two-week high against other major currencies, driven by a sharp drop in Treasury yields. This increase in U.S. yields, coupled with heightened demand for safe-haven assets, has improved the attractiveness of the dollar in the forex market. As long-term Treasury yields spiked over two days, climbing above 4.6%, investors grew
The US economy saw a significant slowdown in the first quarter of 2024, with growth only expanding by 1.3% compared to the previous quarter’s 3.4% growth. Economists are also predicting an increase in initial jobless claims, which could impact consumer spending and inflation levels. With tight labor market conditions supporting wage growth, disposable income is
The GBP/USD pair has seen a decline to 1.2695 amid a stronger US Dollar (USD) on Thursday. The increase in US yields and the reduced expectations of a Federal Reserve (Fed) rate cut in September have contributed to the firmer USD. Fed officials have expressed caution regarding the inflation outlook, causing traders to adjust their