The Federal Reserve officials, in their recent meeting on June 11-12, acknowledged that the U.S. economy was showing signs of slowing down. They also noted that “price pressures were diminishing,” indicating a possible decline in inflation. Despite these concerns, the officials decided to adopt a wait-and-see approach before making any commitments to interest rate cuts.
Development
When examining the monthly scale of EUR/USD, it becomes apparent that there is potential for a significant breakout. This is evidenced by the higher highs and higher lows that have been forming. In January 2023, the price reached a peak at $1.2448, followed by a higher low of $1.1803 in March 2023. Subsequently, another higher
The AUD/USD pair has recently reached 0.6676, showing signs of a sideways pattern. This lack of clear direction indicates a mixed sentiment in the market. The positive movement of the Australian dollar can be attributed to the weakening stance of the US dollar, primarily influenced by the recent comments made by Federal Reserve Chair Jerome
EUR/JPY is currently trading around 173.80 during the early European session, up by 0.20% for the day. The weakening of the Japanese Yen can be attributed to the recent data showing contractionary business activity in Japan during June. The final reading of Japan’s Services PMI fell to 49.4 in June from 49.8 in May, marking
Recently, exit polls revealed that Marine Le Pen’s far-right party, the National Rally (RN), emerged victorious in the first round of parliamentary elections in France. This political development had an immediate impact on the financial markets, particularly on the euro’s exchange rate against other currencies. In response to the RN’s win, the EUR/USD rate experienced
The news of meme stock trader “Roaring Kitty” buying a 6.6% stake in Chewy sent the shares of the pet food e-commerce retailer soaring in premarket trading. With just over 9 million shares purchased, Roaring Kitty has become the third-largest shareholder in the company, according to FactSet. This move has added more than $245 million
The recent announcement of Boeing’s plan to acquire Spirit AeroSystems in a $4.7 billion all-stock deal has sent shockwaves throughout the industry. This strategic move comes after months of negotiations aimed at resolving the crisis that has affected both companies. Boeing highlighted that the total deal value, including debt, stands at approximately $8.3 billion. This
The fluctuation of gold price (XAU/USD) continues on Monday as it struggles to gain traction, oscillating below the $2,330 level during the Asian trading session. Traders are hesitant to make significant moves due to the uncertainty surrounding the Federal Reserve’s rate-cut path, leading to subdued price action. While recent US inflation data supports the likelihood
In the current market, there has been a notable recovery wave for the EUR/USD pair. The pair started this recovery wave above the 1.0710 resistance level, indicating a positive movement. This recovery wave has allowed the pair to move into a short-term positive zone. Additionally, on the 4-hour chart, a major bearish trend line with
The recent first round of France’s parliamentary elections has left investors and analysts uncertain about the future outcomes. The euro showed a slight increase in value as Marine Le Pen’s National Rally party emerged as the leading party in the initial results. However, the final result is contingent upon further rounds of voting and negotiations.
Australian home prices have continued to rise for the seventeenth consecutive month in June, with a 0.7% increase from May. This upward trend has persisted despite various downside risks such as the country’s cost of living squeeze, high interest rates, housing affordability issues, and strict credit policies from lenders. The CoreLogic Research Director, Tim Lawless,
The Bank for International Settlements (BIS) has issued a warning regarding the potential repercussions of rising government debt levels in the face of upcoming major elections. The BIS, often referred to as the central bankers’ central bank, has expressed concerns about the impact that excessive government debt could have on global financial markets. Despite some
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