The NZD/USD pair has been gaining momentum, reaching as high as 0.6280 in the early Asian session, marking its highest level since January 4. This uptick in the New Zealand Dollar (NZD) can be attributed to the recent surge in New Zealand’s Business confidence. According to the ANZ Business Outlook Survey, business confidence in New
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Xpeng, a Chinese electric car company, recently introduced its new mass-market Mona brand with prices starting at $16,812, significantly lower than Tesla’s Model 3. The launch of the Mona M03 electric coupe garnered impressive reception, with orders exceeding 10,000 in just 52 minutes after the unveiling event in Beijing. This positive response from consumers resulted
The U.S. dollar has been struggling against a basket of peers, lingering near its lowest point in over a year. Traders have been eagerly awaiting hints regarding the anticipated U.S. interest rate cut next month. Chair Jerome Powell’s recent dovish stance has solidified market expectations of a rate cut, with the debate now shifting towards
Recent statements by Federal Reserve officials hinted at a rate cut in September, with Deutsche Bank economists suggesting that it is quite likely to happen. The exact magnitude of the rate cut remains uncertain, depending on various data points. The economists at Deutsche Bank believe that the upcoming September meeting’s rate cut will be influenced
The Indian Rupee has weakened in Tuesday’s early Asian session due to month-end USD demand and higher crude oil prices. Traders are anxiously awaiting the US August CB’s Consumer Confidence report, as well as other key events scheduled later this week. According to Anuj Choudhary, a Research Analyst at Sharekhan by BNP Paribas, the rupee
The Dow Jones Industrial Average reached a historic peak on Monday, although major tech companies decided to pause, resulting in a mixed finish for U.S. stock indexes. While the S&P 500 dropped by 0.3%, getting close to its July record which is only 0.9% away, the Nasdaq experienced a 0.9% decline. This decrease can be
Recently, the Japanese yen has been on the rise, with the USD/JPY pair hitting a three-week low at 143.99. This movement can be attributed to a variety of factors including the weakening of the US dollar and significant statements made by the Bank of Japan (BOJ) and the US Federal Reserve. The Governor of the
Boeing’s Starliner faced significant technical issues with its propulsion system, jeopardizing the safe return of its first crew from the International Space Station. Glitches in Starliner’s propulsion system, including five failed thrusters and leaks of helium, raised serious concerns about the spacecraft’s ability to bring astronauts back to Earth safely. This posed a major setback
The S&P 500 showed signs of recovery after a weak Thursday close, with indications suggesting that interest rate sensitive plays would perform better than large caps on Friday. This shift was seen as a result of rates not posing a threat and growing confidence in a soft landing. The implications of this were evident in
Pavel Durov, the billionaire founder and CEO of the popular messaging app Telegram, found himself in legal trouble when he was reportedly arrested at the Bourget airport outside Paris. This unexpected event shocked many as Durov is a prominent figure in the tech world. The reasons behind his arrest were said to be related to
Reports surfaced on Saturday evening that Pavel Durov, the billionaire founder and CEO of the popular messaging app Telegram, was arrested at Bourget airport in Paris. This incident has sparked widespread speculation and concern about the reasons behind his arrest. Telegram, known for its significant influence in Russia, Ukraine, and other former Soviet Union countries,
Gold prices have once again reached $2500/oz amidst a retracement that occurred during the US session on Thursday. The surge in prices can be attributed to various factors, including a stronger US Dollar, rising US Yields, and potential profit-taking in anticipation of Fed Chair Powell’s speech at the Jackson Hole Symposium. Market participants have been
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