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
Development
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
Argentina’s dollar-denominated bonds faced significant challenges this week, as all restructured bonds experienced a decline in price by over 1 cent. This drop comes on the heels of investor concerns surrounding the government’s decision to sell dollars and its potential impact on reserve accumulation. The 2035 maturity bond bore the brunt of the fall with
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
The USD/JPY pair is showing an upward trend, currently trading around 158.30 during the early Asian trading session. This rise can be attributed to the slight recovery in the US Dollar (USD) market. Investors are closely monitoring the US June Retail Sales data and eagerly anticipating the speech by Federal Reserve Chair, Adriana Kugler, for
China’s Third Plenum is a highly anticipated policy meeting that holds significant weight in shaping the country’s economic policies. In the past, Third Plenums have led to transformative periods for China, as seen in 1978 under the leadership of Deng Xiaoping. During that year’s Third Plenum, China made a bold move to open its doors
Pakistan’s benchmark share index rose by 1.44% to reach a record high following the announcement of a staff level agreement (SLA) between the International Monetary Fund (IMF) and Pakistan for a $7 billion, 37-month loan program. This positive development comes after months of negotiations, signaling a step towards stabilizing the economy and averting a sovereign
China’s National Bureau of Statistics recently reported that the country’s second-quarter GDP only rose by 4.7% year on year, which fell short of the expected 5.1% growth. This news has left many economists and investors concerned about the slower than anticipated growth in the Chinese economy. Additionally, June retail sales also missed estimates, only rising
The World Bank, with the backing of the U.S. and Australia, is taking steps to provide a financial lifeline for Pacific Island nations as they face the risk of being cut off from global finance due to Western banks exiting the region. The proposal, amounting to $77 million, aims to ensure emergency access to major
The recent attempted assassination of former President Donald Trump has sent shockwaves through the global markets, with Asian assets being the first to react to the news. This incident has further intensified the already high political tension in the U.S., raising questions about the potential impact on trading and investing in Asia. This article will
The recent assassination attempt on Former President Donald Trump during a rally in Butler, Pennsylvania has sent shockwaves across the nation. The news of Trump being injured in the attack, with one bullet ripping the upper part of his right ear, has raised concerns about the safety and security of political figures in the United
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