As we delve into the recent developments in the US job market, it is evident that there has been significant softening in labor market conditions. Federal Reserve Chair Jerome Powell highlighted this during his testimony on Capitol Hill. This shift in focus towards the possibility of weakness in the labor market is a departure from
Development
The recent shooting at former President Donald Trump’s election rally has generated significant speculation about its impact on the upcoming presidential election. Investors believe that this incident may increase Trump’s chances of winning back the White House. The first shooting of a U.S. president or major party candidate since 1981 could potentially upend the Nov.
Recent reports from the Washington Post have shed light on the controversial practices of the artificial intelligence company, OpenAI. Whistleblowers have come forward with complaints filed to the U.S. Securities and Exchange Commission, calling for an investigation into OpenAI’s allegedly restrictive non-disclosure agreements. These agreements are said to have placed undue restrictions on employees, particularly
The recent fall of the dollar against the yen for two consecutive days has raised concerns about Japan’s possible intervention in the currency markets. Meanwhile, global equities saw a rise as investors shifted their attention towards the anticipated U.S. Federal Reserve interest-rate cuts. The fluctuation in the benchmark 10-year U.S. Treasury yield, following the release
In the week ending July 5, foreign investors poured a significant amount of money into Japanese stocks, totaling a net purchase of 916.05 billion yen, marking their most substantial weekly investment since January 12. This surge in investments was primarily fueled by a market rally and optimism surrounding the solid corporate earnings expected in the
Taking a closer look at the past performance of VanEck Gold Miners ETF ($GDX), it is evident that the rally from the 2.28.2024 low at $25.64 unfolded in a 5-wave impulse. This indicated that a pullback was expected to occur in 3 swings, followed by a resurgence of buyers. Current Elliott Wave Count A more
Silver prices have been on the rise, driven by a supply and demand gap that has persisted for the fifth year in a row. With demand continuing to outstrip supply, the market deficit is expected to almost double by the end of 2024. Historically, the demand for silver was evenly split between industrial use and
In a recent article by the Financial Times, it was reported that Prabowo Subianto, the President-elect of Indonesia, plans to allow the nation’s debt-to-GDP ratio to rise to 50%. This decision is based on the condition that his administration can increase tax revenues. While this may seem like a bold move to boost economic growth
Following Federal Reserve Chair, Jerome Powell’s cautious stance during his appearance before the House Financial Services Committee, the US Dollar experienced a slight decline. Despite indications of disinflation in the US economic outlook and market expectations of a rate cut in September, Powell emphasized the Fed’s data-dependent decisions over immediate actions, keeping investors uncertain. Importance
The recent monetary policy statement released by the Reserve Bank of New Zealand (RBNZ) has caused a significant shift in the performance of the Kiwi against its major counterparts, particularly the Australian Dollar. The RBNZ, for the eighth consecutive meeting, decided to keep its official cash rate at 5.50%. However, the surprising aspect was the
The recent movement in the price of gold, as depicted by the XAU/USD chart, has been quite volatile. While there was a significant rise above the $2390 level on Friday, indicating a bullish trend, the price subsequently fell to $2360 per ounce on Monday. This sudden decline suggests that the bulls were unable to maintain
The EUR/USD pair has been steadily climbing for the past six days, reaching around 1.0830 during the Asian session on Tuesday. This upward trend comes as a surprise to many, especially after France’s election results. A leftist alliance unexpectedly took the lead, preventing Marine Le Pen’s far-right party from dominating the leadership race. This unexpected
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