The recent decline in silver prices by 2.6% on Tuesday to $26.4 per ounce has created a stir in the market. This downward trend follows a failed attempt to break above $30 per ounce on 7 April. The subsequent sideways consolidation without significant bounces has raised concerns about the future direction of silver prices. The
The Eurozone preliminary core CPI rate for April has continued to decrease, indicating a slow pace of inflationary pressure. This trend, along with the widening spread between 2-year and 10-year Eurozone sovereign bonds and US Treasuries, suggests a potential medium to long-term bearish trend on the EUR/USD. The key resistance level to watch is at
GBP/JPY has shown a steady rise recently, mainly due to the overall positive market sentiment that has led to a reduction in flows towards the safe-haven Japanese Yen. The positive lending data in the UK indicates that credit remains ample, adding to the bullish outlook for the Pound. Despite disinflationary trends in the UK, analysts
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When it comes to trading on the Australian Stock Exchange (ASX), analyzing wave patterns can provide valuable insights into potential market movements. Take, for example, REA GROUP LTD – REA, where Elliott Wave analysis indicates that the major trend of wave 3-red is on the verge of pushing higher. The recent completion of a Double
Germany’s Retail Sales data for the month of March showed a significant jump of 1.8% month-on-month, signaling a strong rebound from the previous month’s 1.9% drop. This positive trend is indicative of a potential recovery in consumer spending within the Eurozone’s largest economy, which could have a ripple effect on the overall Eurozone economy. As
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China’s Caixin Manufacturing Purchasing Managers’ Index (PMI) exceeded expectations in April, reaching 51.4 compared to 51.1 in March. This uptick in the manufacturing sector indicates a positive outlook for the Chinese economy. The most significant growth was seen in production, which expanded at the most pronounced pace since May 2023. Additionally, new export orders rose
Amidst the current economic landscape, Options on Secured Overnight Financing Rate (SOFR) futures are indicating a heightened probability of the Federal Reserve hiking interest rates by a quarter percentage point both this year and next. Analysts have highlighted that U.S. inflation and the labor market are showing resilience, contributing to these increased odds. Investors often
The employment cost, specifically wages, is expected to increase by 0.9% quarter-on-quarter in Q1 2024. This potential rise in wages could have significant implications on investor expectations of a September Fed rate cut. Higher wages may lead to increased disposable income and consumer spending, potentially impacting inflation rates. However, it is important to note that
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