The UK’s Labour Party, under the leadership of Keir Starmer, is projected to secure a significant majority in the upcoming 2024 election, according to an exit poll. This forecast suggests that Labour could potentially claim around 410 seats in the 650-seat House of Commons, while the Conservatives are estimated to only secure 131 seats. This
After reaching a high near the 0.6735 zone, AUD/USD has started to correct gains against the US Dollar. The pair is currently facing a downside correction, showing signs of weakening momentum. This correction is evident on the hourly chart of AUD/USD at FXOpen, where a key bullish trend line is forming with support at 0.6700.
The European stock markets experienced a surge in optimism on Thursday, driven by the expectation of U.S. interest rate cuts due to soft economic data. This positive sentiment was reflected in the rise of the pan-European STOXX 600 index by 0.6% to reach a one-week high. Investors were particularly keen on the London markets as
The US markets closed recently as the country commemorated its efforts to break free from monarchy rule. There has been some buzz in the media regarding the possibility of US President Biden running for re-election. Nevertheless, the markets are not expected to show any significant reaction to such speculations, at least not at this early
The Bank of Israel is facing a challenging decision regarding its short-term interest rates in the wake of the war in Gaza, sticky inflation, and a widening risk premium. The current situation calls for careful consideration of various factors that could impact the country’s economic performance in the coming months. The decision to hold the
China is currently in discussions with the European Union to avoid additional tariffs on Chinese electric cars. The European Commission has set a deadline for imposing tariffs if an agreement is not reached by July 4th. Both parties are encouraged to work towards a compromise to prevent these tariffs from taking effect. The Chinese Ministry
The Australian Trade Balance has been facing a deteriorating trend due to various economic factors. China’s lackluster demand, the collapse of the real estate market, and the slump in iron ore prices in the first half of 2024 have all contributed to this downward trend. Additionally, trade tensions between Australia and China, as well as
The market for initial public offerings (IPOs) in Hong Kong is expected to see significant improvement over the next five years, with the turnaround beginning in the second half of this year. George Chan, global IPO leader at EY, expressed optimism about the future of the Hong Kong IPO market, citing positive trends and a
The Federal Reserve officials, in their recent meeting on June 11-12, acknowledged that the U.S. economy was showing signs of slowing down. They also noted that “price pressures were diminishing,” indicating a possible decline in inflation. Despite these concerns, the officials decided to adopt a wait-and-see approach before making any commitments to interest rate cuts.
The American Reshoring ETF, introduced by Tema ETFs CEO Maurits Pot, is focused on supporting the revival of U.S. manufacturing jobs. Pot believes that this movement, often referred to as “deglobalization,” is just beginning and emphasizes the importance of job creation and bringing back local manufacturing positions. This ETF was launched in May 2023 and
When examining the monthly scale of EUR/USD, it becomes apparent that there is potential for a significant breakout. This is evidenced by the higher highs and higher lows that have been forming. In January 2023, the price reached a peak at $1.2448, followed by a higher low of $1.1803 in March 2023. Subsequently, another higher
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