Xiaomi, the Chinese smartphone company, has seen overwhelming success with its new electric vehicle, the SU7 sedan. With over 70,000 orders received as of April 20, the company is well on its way to achieving its goal of delivering 100,000 units this year. This comes as a surprise, considering the SU7 is priced $4,000 lower
The Indian Rupee (INR) faced some challenges on Wednesday as a result of increased demand for the US Dollar (USD) and the belief that the US Federal Reserve won’t be cutting interest rates anytime soon. However, despite these setbacks, the INR managed to hold its ground due to positive signals from the local stock market
GBP/USD has shown signs of a recovery as it bounced back from the support level of 1.2300. The pair managed to break a bearish trend line with resistance at 1.2420 on the 4-hour chart, indicating a potential shift in momentum. Despite testing the 1.2300 zone, the pair has started a wave of recovery and is
The European market is currently experiencing strong business activity indicators, which have contributed to pushing the euro above $1.07. This surge in the euro’s value has been influenced by promising news from Tesla, with the electric vehicle maker’s shares seeing a significant increase of 13% in after-hours trading. It is worth noting, however, that despite
The recent data showing a surprisingly robust business activity in the euro zone has had a significant impact on the currency market. The euro strengthened against the dollar, causing the dollar index to drop. This unexpected boost in European activity has raised questions about the strength of the U.S. economy in comparison to its European
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The Securities and Exchange Commission (SEC) in the Philippines made a bold move by ordering Google and Apple to remove cryptocurrency exchange Binance from their app stores. This action came after the regulator expressed concerns about the security of Filipino investors’ funds due to continued access to Binance sites and apps. SEC Chairperson Emilio Aquino
German Chancellor Olaf Scholz and Finance Minister Christian Lindner have both expressed skepticism about reforming the country’s ‘debt brake’. The debt brake, which limits public deficits to 0.35% of gross domestic product, is constitutionally enshrined and would require a two-thirds majority in both houses of parliament to reform. Despite some regional politicians raising the possibility
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The AUD/USD pair has been on an upward trend for the second consecutive day, reaching a one-week high near 0.6453. This positive movement follows a period of rapid decline and is supported by encouraging economic data from Australia. The latest manufacturing PMI report for April showed a significant increase to 49.9 points, up from 47.3