The USD/CAD pair has seen a recovery near 1.3730 during the early Asian trading hours on Thursday. This comes after the Federal Open Market Committee (FOMC) held its benchmark lending rate steady for the seventh time in a row at its June meeting. The decision came as no surprise to market players, but the accompanying
The ASX 200 experienced a modest gain of 0.53% during the Thursday morning session. This increase was mainly driven by positive movements in iron ore and gold spot prices, as well as stable performance in WTI crude oil. However, the overall impact of commodity price fluctuations on the market was mixed, resulting in a varied
Recently, crude oil prices have seen a remarkable recovery, starting a strong upward trend that took them above the $75.00 resistance zone. This surge in prices was accompanied by a break above a key bearish trend line with resistance at $74.90 on the 4-hour chart. The price not only climbed above the $73.50 and $74.50
In the cutthroat world of startups, it’s not uncommon to come across ambitious entrepreneurs making grand claims to entice investors. Foundation Robotics Labs, a humanoid robotics startup, found itself in hot water after allegedly fabricating ties with General Motors (GM) in a bid to secure funding. The company claimed that GM had committed to investing
The recent softer-than-expected U.S. inflation data has had a significant impact on the foreign exchange market, particularly in Asia. While most Asian currencies were firm against a weakening dollar, the yen struggled ahead of a Bank of Japan meeting, and U.S. policymakers signaled that rates would remain high for the foreseeable future. Following the U.S.
The sell-off in GameStop shares was intensified on Wednesday afternoon, coinciding with a spike in trading volume in the call options owned by Roaring Kitty, whose legal name is Keith Gill. On Monday night, Gill disclosed that he still held 120,000 call options contracts with a strike price of $20 and an expiration date of
The Federal Reserve recently concluded its two-day meeting and made the decision to keep the key interest rate unchanged. Despite markets hoping for a more accommodative stance from the central bank, the Federal Open Market Committee (FOMC) indicated that only one rate cut is expected before the end of the year. This was a departure
As Roaring Kitty, also known as Keith Gill, observes the fluctuating GameStop shares, he faces a tough decision regarding his substantial options position that is nearing expiration. His current holdings include 5 million GameStop common shares and 120,000 call options, representing 12 million underlying shares. The call options have a strike price of $20 and
GameStop recently made headlines by raising more than $2 billion through a successful stock sale. This move came at a time when the company was able to capitalize on a renewed interest in meme stocks, fueled by the resurgence of trader Roaring Kitty. By completing an at-the-market equity offering and selling 75 million shares, GameStop
As we delve into the intricacies of the financial world this week, all eyes are on the upcoming FOMC interest rate decision. In the wake of rate cuts by the ECB and BOC, investors are eagerly anticipating the Fed’s stance on interest rates in June. Market expectations, backed by surveys and data, suggest that the
The dollar stabilized after reaching a four-week high against other major currencies as traders eagerly awaited key U.S. inflation data and the Federal Reserve’s updated interest rate projections. The U.S. dollar’s recent rebound can be attributed to Friday’s strong jobs report, which suggests sustained inflation alongside robust economic growth. Consequently, the likelihood of the Federal
In recent trading sessions, the USD/JPY pair has shown a positive trend, marking the fourth consecutive day of gains. This upward movement is significant and has caught the attention of traders and analysts alike. The pair is currently trading near 157.15 during the early Asian trading hours on Wednesday, indicating a bullish sentiment among market
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