In recent news, U.S. President Joe Biden and Chinese President Xi Jinping are scheduled to have a phone call in the “coming weeks,” according to the White House. This announcement comes as U.S. national security adviser Jake Sullivan visits Beijing to meet with Wang Yi, China’s top diplomat. Both countries have also agreed to have
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Recently, the NZD/USD pair managed to break through key resistance levels at 0.6050 and 0.6120, signaling a bullish trend. This surge was supported by a major bullish trend line forming with a strong support level at 0.6120. The pair also successfully surpassed the 0.6200 mark and even tested 0.6235, showcasing its strength in the market.
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 Indian Rupee has been under pressure in Wednesday’s early Asian session, driven by the weakening of Asian peers and increased demand for the US Dollar. However, positive sentiments in domestic markets and dovish comments from Federal Reserve Chair Jerome Powell at the Jackson Hole meeting may provide some support to the local currency. Investors
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
In a groundbreaking move, Volkswagen has invested $700 million into Xpeng, a Chinese electric car startup, with the aim of developing two electric vehicles specifically for the Chinese market by 2026. This partnership marks a significant step forward in the electric car industry, as traditional auto giants like Volkswagen are embracing the shift towards battery-only
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
The role of Federal Reserve holdings of mortgage bonds in influencing the economy’s momentum has been a topic of discussion among academics and economists. A recent paper presented at a central bank research conference highlights the significance of these holdings in how monetary policy affects various aspects of the economy. The Federal Reserve’s actions of
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
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