China’s manufacturing activity showed a decline for the third consecutive month in July, according to an official factory survey. The official purchasing managers’ index (PMI) dropped to 49.4 in July from 49.5 in June, falling below the 50-mark that separates growth from contraction. This decline has raised concerns about the need for Beijing to introduce
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Gold has recently shown signs of recovery after finding support near the $2,352 level against the US Dollar. The price has managed to break above the $2,380 level and the 200 Simple Moving Average on the 4-hour chart. Additionally, a connecting bearish trend line with resistance at $2,388 was cleared, indicating a possible uptrend. As
The Japanese government recently revised its growth forecasts for the fiscal year ending March 2025, lowering it from 1.3% to 0.9%. This adjustment was made due to concerns about the weak Yen and its impact on households’ purchasing power. The Bank of Japan’s Deputy Governor also highlighted the influence of exchange-rate fluctuations on economic activity
The newly appointed British finance minister, Rachel Reeves, recently announced that there would be a need to raise taxes in the upcoming October 30 budget. This confirmation aligns with the expectations of many individuals, given the significant 22 billion pound shortfall that was highlighted in this year’s budget. Reeves emphasized the importance of increasing taxes,
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The Australian Dollar (AUD) has experienced a significant decline of approximately 3.5% against the US Dollar (USD) since July 12. While the Australian economy has been creating more jobs per month than before the pandemic, the recent labor market data did not have the expected positive effect on the AUD. This should have supported the
It seems that Warren Buffett’s Berkshire Hathaway is on a selling streak when it comes to its big Bank of America stake. Over the past nine trading sessions, Berkshire has sold a total of 71.2 million shares of the bank, amounting to over $3 billion in sales. This indicates that the conglomerate is not just
When examining the short term Elliott Wave view in E-Mini Dow Jones Futures (YM), it is clear that the trend is poised to continue higher within the sequence that originated from the April-2024 low. The current analysis favors an upside movement in wave 5 of (5) since April 18, 2024 low, as long as any
Making financial decisions can be daunting, especially when it comes to trading and investing. It is crucial to perform your own due diligence checks and not rely solely on the information provided by third parties. While the content on websites may offer insights and analysis, it should not be considered as personalized financial advice. Each
Britain’s newly appointed finance minister, Rachel Reeves, wasted no time in addressing the financial challenges left behind by her Conservative predecessor. In a bold move, Reeves announced to parliament that public spending was on track to exceed the budget by a staggering 21.9 billion pounds for the current year. To tackle this issue head-on, she
As the Bank of Japan gears up for its upcoming meeting, the anticipation surrounding a possible rate hike is causing ripples in the financial markets. The BoJ is expected to unveil a strategy that could see a significant reduction in bond purchases, a move that has the potential to shake up the status quo. The
As Federal Reserve officials convene for their upcoming meeting, the expectation is that interest rates will remain unchanged, with a potential signal for a 25 basis point rate cut at the following meeting in September. The strategic approach taken by the Fed leadership aims to methodically build a case for the rate cut, establishing internal
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