Asian stocks displayed a lack of stability in early trading as traders awaited a crucial U.S. inflation report. The yen lingered just below the 160 per dollar threshold, raising concerns about potential intervention by Japanese authorities. The hawkish comments from Federal Reserve officials also played a role in keeping U.S. rate cut expectations in check,
Art
Recently, crude oil prices have shown an upward trend, aiming for a move above the $80.00 resistance zone. The 4-hour chart of XTI/USD reveals a key expanding triangle with resistance at $82.50. After breaking the $80.00 resistance, the price encountered some hurdles. Despite settling above the 200 simple moving average and the 100 simple moving
When it comes to investing, it is essential to be aware of the risks involved. The information provided on various platforms may contain forward-looking statements that come with uncertainties and potential risks. It is crucial to understand that any investment decision should be made after thorough research and not solely based on the information provided
Cisco’s Greater China head, Ming Wong, expressed his optimism about the growing business with Chinese electric car companies as they expand overseas. The electric vehicle (EV) segment is the second-largest for Cisco in the region, generating most of its revenue from manufacturing companies, with electric cars being the largest category. Chinese EV-makers have been increasing
The Indian Rupee is currently experiencing a boost against the weaker US dollar, with inflows into India potentially lifting the INR. However, the overall strength in major Asian currencies and rising oil prices pose a challenge to further upside movement. Additionally, traders are closely watching key economic indicators such as the US Chicago Fed National
During Monday’s trading session, the GBPJPY pair continued its upward movement, hitting a peak of approximately 202.50, the highest level seen since 2007. Despite initial efforts by sellers to drive the pair down to 106.14, buyers managed to take control and push the pair to new cycle highs. The Daily Relative Strength Index (RSI) at
The Bank of Japan is sending strong signals regarding its quantitative tightening (QT) plan, hinting that it may be bigger than anticipated by the markets. Furthermore, there is talk of a possible interest rate hike accompanying this move, signifying a significant shift away from its massive monetary stimulus. These hawkish hints come in response to
The short-term Elliott Wave analysis of XAGUSD (Silver) suggests that the cycle from the 5.20.2024 high is still in progress, forming a complex double three structure. The price action reveals that wave ((a)) ended at 30.03, wave ((b)) rallied to 32.29, and wave ((c)) dropped to 29.36, completing wave W. The subsequent rally in wave
The Jibun Bank Services PMI unexpectedly fell to 49.8 in June, marking the first contraction since August 2022. This decline, coupled with a slowdown in output price inflation, has raised concerns about the strength of the Japanese economy. As a result, the Bank of Japan may need to reassess its monetary policy approach and place
Boeing has reportedly made an offer to acquire Spirit AeroSystems in a deal that values the supplier at around $35 per share. This offer, which includes a significant premium over Spirit’s stock closing price, represents a strategic move by Boeing to stabilize its supply chain following a mid-air incident involving the 737 MAX. Initially, Boeing
The market saw a mixed reaction in stock futures as June came to a close, with the first half of 2024 ending at near record highs. The S&P 500 hit an intraday record last Thursday, continuing its bullish trend with an 0.6% gain for the eighth positive week in nine. Nvidia, a key player in
The yen has reached a level of weakness against the US dollar that has not been seen since late April. This has prompted the Bank of Japan to intervene in the currency market, deeming a rate above 160 yen per USD as unacceptable. Japanese officials have issued warnings against “excessive” volatility, hinting at the possibility
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