Dutch digital bank, Bunq, is eagerly anticipating the acquisition of a banking license from U.K. financial regulators by the end of this year or the beginning of next year. CEO and founder, Ali Niknam, expressed his hopes during an interview at the Viva Tech conference in Paris. Niknam acknowledged the potential challenges that may arise
The latest data released on Monday revealed that China’s Caixin S&P Global Manufacturing Purchasing Managers’ Index (PMI) increased from 51.4 in April to 51.7 in May. This reading surpassed the market consensus of 51.5 for the reported month. Production expanded at the most pronounced pace since June 2022, with the fastest purchasing activity growth in
As Asia ushers in the new trading month for global markets, there is a keen focus on manufacturing PMI data from the continent’s major economies. Investors are anticipating a shift in interest rates from the U.S. and other countries, which could have a significant impact on market trends. Key indicators to monitor include factory activity
As we delve into the current market trends concerning the AUD/USD exchange rate, it is essential to take into account various influential factors. While finalized S&P Global Manufacturing PMI numbers for May are significant, the spotlight remains on the more impactful ISM Manufacturing PMI survey-based data. Moreover, the absence of any FOMC member speeches, as
In our recent assessment of the NASDAQ 100 (NDX), QQQ ETF, SP500 (SPX), SPY, Apple (AAPL), Tesla (TSLA), Amazon (AMZN), Nvidia (NVDA), Microsoft (MSFT), Meta Platforms (META), Netflix (NFLX), and Alphabet (GOOGL), we have identified a potential Elliot Wave pattern. Our analysis suggests that we are currently witnessing the development of Wave iii of (i)
North Dakota Governor Doug Burgum recently denied claims that former President Donald Trump had made promises to oil executives in exchange for financial support for his potential reelection bid. The allegations stated that Trump had offered to reduce regulations on the oil industry if they raised $1 billion to help him return to the White
Most stock markets in the Gulf region saw an upturn on Sunday with the Saudi index leading the way. Saudi Arabia’s benchmark index rose 1.1% following a U.S. inflation reading that hinted at potential interest rate cuts from the Federal Reserve. This increase came after the index hit a more than five-month low on Thursday.
The Australian housing market has shown remarkable resilience in the face of various economic challenges. Despite high interest rates, cost of living pressures, and consumer pessimism, home prices in Australia have continued to climb steadily. According to data from property consultant CoreLogic, national home prices rose by 0.8% in May, marking the sixteenth consecutive month
The current estimate projects the unemployment rate to remain at 3.9%, with a possible high estimate of 4.0% and a low of 3.8%. This stability in the unemployment rate is a positive sign for the economy, indicating that job market conditions are relatively strong. However, it is crucial to monitor any fluctuations as they could
The AUD/USD pair is heavily influenced by economic data releases from both Australia and the United States. These data points can significantly impact buyer demand for the Aussie dollar and dictate the overall direction of the currency pair. In this article, we will analyze the potential effects of key economic indicators on the AUD/USD pair
The CEO of VanEck, Jan van Eck, recently highlighted a significant sentiment shift in the cryptocurrency market following the U.S. Securities and Exchange Commission’s approval of a rule change that allows for Ethereum exchange-traded funds. Describing it as one of the most remarkable developments in his career concerning securities regulation, van Eck emphasized the importance
The recent decision by Standard & Poor’s (S&P) to downgrade France’s sovereign debt rating from “AA” to “AA-” is expected to have more of a political sting than a financial market impact in the short term. Citigroup analysts predict that the downgrade could push the spread between French and German benchmark bonds out by 3-5
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