Asian stocks are seeing a positive trend as they head towards the fourth consecutive month of gains. This trend is driven by various factors, including the performance of global currencies and key economic indicators. The recent data showing a downward revision in consumer spending in the U.S. has had a significant impact on Treasury yields
The recent downside correction in USD/JPY from the 157.70 zone is a cause for concern. While there is a major bullish trend line forming with support at 156.00 on the 4-hour chart, the pair started a downside correction and traded below 157.20. The move below the 23.6% Fib retracement level of the upward move raises
The latest data on Japanese Retail Trade shows a positive YoY growth of 2.4% in April, surpassing the forecast of 1.9%. This growth is a significant improvement from the previous period’s 24-month low of 1.1%. The increase in Retail Trade is a positive sign for the Japanese economy, indicating an uptick in consumer spending. On
Economists are predicting a 2.8% increase year-on-year in the Core PCE Price Index for April, with personal income and spending expected to rise by 0.3%. While personal income saw a 0.5% increase in March and spending was up by 0.8%, a higher Fed rate path could lead to a rise in borrowing costs and a
The US Dollar Index (DXY) faced a setback after a strong rebound on Wednesday, as markets reacted negatively to the latest US economic indicators. The increase in Weekly Jobless Claims exceeded expectations, signaling a potential softening in the labor market. This, combined with the revised GDP figures showing a growth rate of 1.3%, raised concerns
As the New York Federal Reserve President John Williams addressed concerns about inflation during a recent event, he acknowledged that inflation levels are still too high. However, Williams expressed confidence that inflation will start decelerating later this year. Despite the markets being on edge regarding the direction of monetary policy, Williams did not provide clear
Kohl’s faced a significant blow as its shares dropped by more than 20% in premarket trading following the release of its first quarter financial results. The market was taken by surprise as the company reported a loss per share instead of the expected profit. This unexpected turn of events put the company’s performance in sharp
The commodity market is facing challenges in maintaining its upward momentum, frequently experiencing sell-offs. Recent data shows that the price of Brent crude oil dropped to 83.60 USD per barrel, indicating a decline. This fall in prices can be attributed to various factors such as expectations surrounding lending costs and the possibility of high interest
The Euro is currently facing a period of consolidation as a result of a sharp decline on Wednesday, marking its biggest daily loss since April 30. This decline was largely driven by fresh risk aversion in the market, leading to a cautious approach among investors. Despite finding support at the key level of 1.0790/80, which
The CEO of Swedish fintech startup Trustly, Johan Tjarnberg, recently discussed the company’s decision to delay its initial public offering (IPO) despite a 51% increase in operating profit. Tjarnberg revealed that Trustly intends to wait another year or two before going public to demonstrate the value of its open banking technology to potential investors. He
Upon analyzing the daily chart of the VanEck Semiconductor ETF (SMH), it is evident that the function is trending with an impulsive mode and motive structure. The position of Minor wave 5 indicates an upside movement in the near future. This analysis highlights the potential for a wave {iv} of 5 to initiate a sideways
The US economy saw a significant slowdown in growth during Q1 2024, with an expansion rate of only 1.3% compared to 3.4% in the previous quarter. In addition, initial jobless claims are expected to rise slightly from 215k to 218k by the end of May. These numbers indicate a potential shift in economic momentum, which