The recent sell-off in Wall Street has prompted a surge in the safe-haven Japanese yen, with riskier currencies like the Australian dollar and sterling taking a hit. Traders are seeking cover due to concerns about a potential hard landing for the U.S. economy. The catalyst for this market reaction was the release of soft U.S.
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The Malaysian central bank, Bank Negara Malaysia (BNM), is set to leave its key interest rate unchanged as growth remains strong and inflation remains under control, according to a recent poll conducted by Reuters. Despite the fact that inflation is currently at 2.0%, the Malaysian ringgit has shifted from being one of the weakest performing
Upon closer examination of the BTC/USD chart, it is evident that Bitcoin’s price is currently facing a critical juncture. The analysis reveals that the cryptocurrency is navigating within two distinct channels: a bullish channel that originated in 2023 amidst rumors of Bitcoin ETF approval, and a bearish channel that materialized in March 2024 following the
China recently made headlines for its first attempt at a top-tier video game with Black Myth: Wukong, an action game based on mythological China. The game managed to sell over 10 million units within three days of its launch in August. This success has been seen as a significant milestone for the Chinese gaming industry,
The correlation between the party affiliations of U.S. presidents and economic growth has long been a subject of research and discussion. Over the years, studies have indicated a pattern where the economy tends to grow at a faster rate under Democratic presidents compared to Republican presidents. However, it is essential to note that correlation does
The recent US PCE report has caused a stir in the financial markets, particularly in relation to the Federal Reserve’s policy on interest rates. There is now an increased likelihood of a rate cut in September, with traders betting heavily on a 25 basis point reduction. This cautious approach by the Fed has led to
Gold has been struggling to break through the $2525 resistance level on the spot market for the past couple of weeks. Despite several attempts to rally above this price point, it seems to have hit a glass ceiling that it cannot seem to break through. The increasing frequency of rallies and decreasing pullbacks indicate significant
Chinese President Xi Jinping recently emphasized the importance of finding “a right way” for the United States and China to get along. Despite the growing tensions between the two countries in various sectors, Xi reiterated China’s commitment to a stable and healthy relationship with the U.S. during a meeting with U.S. national security advisor Jake
Warren Buffett, widely known as the “Oracle of Omaha,” recently celebrated his 94th birthday with Berkshire Hathaway reaching new milestones. The conglomerate became the first non-technology company to surpass a $1 trillion market capitalization, while its Class A shares surged past $700,000 each for the first time in history. As friend and fellow investor, Howard
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
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
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