The US annual inflation rate is predicted to remain at 3.4% in May, while the core inflation rate is expected to soften from 3.6% to 3.5%. These numbers are crucial as they can influence investor expectations of a September Fed rate cut. A more hawkish Fed rate path could lead to increased borrowing costs and
Apple device users are in for a treat as they will soon have the option to utilize buy now, pay later loans from Affirm for their purchases. Affirm, a fintech company based in San Francisco, announced that it will be available as a payment choice for U.S. Apple Pay users on iPhones and iPads later
Poland is facing significant challenges in its fiscal policy, as highlighted by a senior International Monetary Fund official. The European Commission has projected that Poland’s budget deficit will rise to 5.4% of gross domestic product this year, which is among the highest in the European Union. This is primarily due to the government’s increased expenditure
The USD/CHF pair has shown remarkable stability in the face of the looming Federal Reserve policy decision. Traders are cautiously navigating the thin trading environment, with the pair hovering around 0.8950 during early European hours. This calmness can be attributed to investors adopting a wait-and-see approach as they anticipate the Fed’s interest rate decision on
GBPUSD recently advanced to its highest level since March 13th, showcasing a strong bullish momentum in the market. However, this rally was short-lived as the pair started to reverse lower, signaling that the uptrend may have become overstretched. The price action was driven by profit-taking activities, leading to a temporary pullback in the exchange rate.
The global markets are currently on edge as Asian markets cautiously assess the impact of the recent success of right-wing parties in the European Union on the cohesion of the bloc. While EUROSTOXX 50 futures have shown a slight uptick of 0.2%, FTSE futures remain stagnant. The euro is holding steady at $1.0766, slightly above
European tech stocks like Infineon Technologies and SAP experienced losses, while auto stocks had a mixed session with companies like Daimler Truck Holding and Volkswagen declining, and others like Mercedes Benz Group and Porsche advancing. The upcoming speech by ECB Chief Economist Philip Lane could provide insights into inflation, economic outlook, and ECB interest rate
The largest official sector buyer of gold, China, is expected to resume its bullion shopping once prices ease from the record highs experienced in May. This information was revealed at a recent conference where industry players discussed the fundamental case for the metal moving forward. Despite a pause in their gold reserves in May, the
Following the recent US Job Report, there are expectations of a pickup in hiring which could potentially support wage growth. This increase in wages may lead to higher trends in disposable income, ultimately fueling consumer spending and demand-driven inflation. The net effect of this could result in a higher-for-longer Fed rate path to raise borrowing
GameStop shares took a steep nosedive, dropping over 14% on Monday, following a significant sell-off triggered by disappointing earnings and an underwhelming livestream by Keith Gill. The stock, which had already plummeted nearly 40% on Friday, hit a low of around $24 per share on Monday. The release of GameStop’s earnings report ahead of schedule
Recently, the USD/CHF pair has been trading near 0.8970, with the US Dollar showing signs of strength. This strength in the USD can be attributed to the diminishing Fed rate-cut expectations for the September meeting. The US Nonfarm Payrolls report for May indicated a robust labor demand and stronger-than-expected wage growth, leading to a shift
It is often considered unusual for gold prices to be strong alongside equities. Typically, when stock prices rise, it indicates a risk-on environment, while gold demand tends to increase during times when investors seek a safe haven. However, as of late May, front-month Gold futures prices were up 17% year-to-date, while the S&P 500 had
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