The latest report on U.S. factory production in May showed a surprising increase, rebounding from declines in the previous two months. The Federal Reserve reported a 0.9% jump in manufacturing output, surpassing economists’ expectations. However, despite this positive development, the outlook for sustained momentum in the sector remains uncertain. Higher interest rates and softening demand
When it comes to financial decisions, it is crucial to conduct thorough due diligence checks. The information provided on websites, including general news and publications, personal analysis, and opinions, may not necessarily be accurate or real-time. Therefore, relying solely on this information without doing your own research can lead to significant risks. Cryptocurrencies and contracts
Senator Elizabeth Warren recently accused Federal Reserve Chair Jerome Powell of advocating for changes to financial regulations that would benefit large American banks. According to Warren, Powell is considering reducing the capital requirements for banks as outlined in the Basel III Endgame. Warren expressed disappointment in reports suggesting that Powell, after meeting with big bank
The Nasdaq 100 (US Tech 100 mini on FXOpen) has recently faced some uncertainty in its price behaviour near the resistance level of 18,840. A decline in price was seen followed by a test of the former resistance at 18,250. This test showed aggressive demand, as indicated by the long lower shadow on the candle.
The Australian dollar remained steady after the Reserve Bank of Australia (RBA) decided to keep rates at 4.35%, as expected. The central bank warned against inflation risks and traders adjusted their expectations accordingly. Despite the lack of surprises in the RBA decision, the Aussie dollar held firm at $0.6612. Market sentiment was further buoyed by
China has recently opened an anti-dumping investigation into imported pork and its by-products from the European Union. This investigation, announced by China’s commerce ministry, is mainly targeted at countries like Spain, the Netherlands, and Denmark, in response to curbs on its electric vehicle exports. The focus of the probe will be on pork intended for
The disclaimer on this investment website emphasizes the need for individuals to perform their own due diligence checks before making any financial decisions. It stresses the importance of applying personal discretion and consulting competent advisors. While this is a valid point, the language used could be more direct and assertive in conveying the message. The
The price of gold experienced a setback at the beginning of the week, dropping below $2320 as geopolitical tensions took a backseat. The recent volatility in the market was influenced by conflicting data regarding interest rates and market participants’ preference for US Treasuries. The US dollar index (DXY) faced resistance at 105.63, leading to a
Costco Wholesale Corp. (COST) has been under the lens of Elliott Wave analysts, particularly in terms of its impulsive trend and motive structure. The analysis indicates that COST is currently in wave 5, specifically within wave {iii} of 5, suggesting an upward trajectory. Following the completion of the triangle in wave 4, wave {ii} of
Gold prices have recently hit their lowest level in a month after experiencing a pullback from their all-time high. The price of gold broke below the 50-day simple moving average (SMA), signaling a downward trend in the market. However, in the midst of this decline, there have been signs of recovery as the price has
The Euro is the currency for the 20 European Union countries that belong to the Eurozone, making it the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions with an average daily turnover of over $2.2 trillion. The EUR/USD pair is
Starboard Value, the activist fund led by Jeff Smith, recently acquired a significant stake in graphics-design firm Autodesk. The fund has raised serious concerns over the company’s disclosures regarding an internal investigation that resulted in the removal of its CFO. It has been revealed that executives at Autodesk misled investors regarding the company’s free cash