Traders have been closely monitoring the USDCHF currency pair, especially after the recent breakout that confirmed a bearish bias. The completion of a medium-term bullish corrective cycle in April 2024 marked a significant turning point for the pair. The weekly chart analysis revealed a supercycle 4th wave completion in December 2016, indicating the beginning of
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JD Vance, the new running mate of U.S. presidential hopeful Donald Trump, made it clear in his recent speech at the Republican National Convention that protecting the wages of American workers is a top priority. Vance emphasized the need to stop the Chinese Communist Party from benefiting at the expense of American citizens and stressed
The price of Gold in the United Arab Emirates remained relatively stable on Thursday, with data collected by FXStreet indicating that it stood at 290.59 United Arab Emirates Dirhams (AED) per gram. This price was only slightly higher than the previous day’s cost of AED 290.38. Similarly, the price per tola of Gold also showed
The US Dollar has recently experienced a significant fall, reaching its lowest value since March. This decline can be attributed to several key factors, such as the Federal Reserve’s dovish stance and lower US Treasury Yields. The market sentiment towards the USD has been impacted by the expectation of potential rate cuts by the Federal
The tension between the Philippines and China over the disputed Second Thomas Shoal in the South China Sea has escalated, prompting two senior Republican U.S. senators to urge President Joe Biden to provide a comprehensive list of options developed by the Pentagon and State Department to aid the Philippines. The situation at the shoal, where
The Canadian Dollar (CAD) is facing challenges in the foreign exchange market as it struggles to gain ground against the US Dollar (USD). Despite some minor gains this morning, the CAD remains a relative underperformer compared to the USD. The Mexican Peso (MXN) is also losing ground, adding to the pressure on the CAD. The
Federal Reserve Governor Christopher Waller recently stated that interest rate cuts may be on the horizon, pending no major surprises in inflation and employment data. This cautious optimism is in line with other policymakers’ statements, hinting towards a potential rate cut in the near future. Waller emphasized the need to closely monitor economic indicators in
The recent movement of the EUR/CHF pair has been met with volatility and uncertainty, particularly in light of the ongoing weakness of the France CAC 40. This has led to a negative feedback loop affecting the EUR/CHF pair, with key resistance levels coming into play. The recovery of EUR/CHF from losses incurred in June has
Citizens Financial exceeded expectations for its second-quarter profit, reporting strong results due to the boost in capital markets fees. The surge in fees, up by 63%, was primarily driven by bond underwriting and loan syndication activities. This positive trend mirrors the quarterly reports of larger competitors such as Bank of America and JPMorgan Chase, indicating
HSBC made a significant announcement on Wednesday with the appointment of Georges Elhedery as the new group CEO, starting on September 2. This decision comes after the departure of Noel Quinn, who has been leading the company for nearly five years. Elhedery, who currently serves as the chief financial officer, will take over the role
The gold market witnessed a remarkable surge on Tuesday, with gold futures hitting a record high of $2,465.30, surpassing the previous peak set in May. This significant jump can be attributed to the growing anticipation of a September interest rate cut, which has fueled demand for bullion. As spot gold reached an all-time high of
The recent influx of $1.04 billion into Bitcoin Spot ETFs has sparked a renewed sense of confidence among investors in the cryptocurrency market. This surge in investment indicates a positive sentiment towards Bitcoin and may signal a potential short-term increase in its price. As more market participants diversify their crypto holdings, the approval of an
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