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
As investors gear up for the new trading week, the European political landscape is shrouded in uncertainty. The recent European Parliament elections have resulted in a significant gain for eurosceptic-nationalists, displacing liberals and greens. Additionally, President Emmanuel Macron’s decision to dissolve the French Parliament and call for early legislative elections has added to the instability
Pakistan’s coalition government is gearing up to announce ambitious fiscal targets in the upcoming 2024/2025 budget. The budget, set for July-June, is crucial in strengthening Pakistan’s case for securing a new bailout deal with the International Monetary Fund (IMF). As the economy faces challenges, officials and analysts anticipate significant measures to bridge the revenue-expenditure gap
Recent data from the Recruitment and Employment Confederation in the UK revealed that the fall in permanent hiring by employers in Britain was the least severe in over a year in May. This is a promising sign that the recruitment market might be on the brink of a recovery. The report indicated that permanent hiring
French President Emmanuel Macron’s announcement of snap elections following the European Union (EU) elections took many by surprise. The decision to dissolve parliament and call for new legislative elections came after exit polls showed his alliance suffering a heavy defeat to Marine Le Pen’s far-right National Rally (RN) party. Macron’s call for lower house elections
The recent shock election called by French President Emmanuel Macron has sent ripples through the euro and European markets. The euro has skidded, falling 0.3% to a one-month low of $1.0764, while also slumping to a 21-month low against the pound. EuroSTOXX 50 equity futures have dipped by 0.4% and French bond futures have also
The recent US Jobs Report has had a significant impact on the USD/JPY exchange rate, pushing it closer to the 157 level. With the US CPI Report on the horizon, investors are closely watching for potential shifts in the value of the Japanese Yen. The increase in average hourly earnings by 4.1% year-on-year in May
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