The USD/JPY exchange rate is currently hovering around 154.784, but intervention risks are looming large. Masato Kanda recently issued a warning, stating that the government would step in if there are any speculative or disorderly movements in the foreign exchange markets. This has sparked concerns among investors, especially after the currency pair experienced a sharp
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Billionaire investor Stanley Druckenmiller recently made headlines for his decision to slash his significant investment in chipmaker Nvidia earlier this year. He cited concerns that the rapid growth in artificial intelligence may be overblown in the short term. Druckenmiller revealed his rationale, stating, “We did cut that and a lot of other positions in late
The U.S. stock futures showed minimal changes on Tuesday, following a positive streak in the Dow. The slight increase in Dow futures, along with higher S&P 500 futures and a dip in Nasdaq 100 futures, reflected the optimism among investors. This positive sentiment came on the heels of April’s weaker-than-expected job growth, which raised hopes
The optimism surrounding potential interest rate cuts in the United States has propelled Asian stocks to 15-month highs, with investors closely monitoring the situation. The MSCI’s broadest index of Asia-Pacific shares outside Japan saw a 0.3% increase at the onset of trading, indicating a positive sentiment among investors. However, Hong Kong shares experienced a slight
The crypto market capitalisation has experienced a 2% increase over the past week, with a significant 13% surge from the lows observed on May 1st. This growth was marked by a bottom formation on Wednesday, followed by a moderate rebound on Thursday and stronger buying activities on Friday. However, the market hit a roadblock over
The relationship between the Chinese economy and the Australian Dollar (AUD) is a complex and intricate one, with multiple factors influencing the value of the currency. In this article, we will delve into the various aspects of this relationship and how movements in the Chinese economy can impact the AUD. The Services Purchasing Managers’ Index
The EUR/USD pair initiated a recovery wave above the resistance level of 1.0650. Interestingly, there was a breakthrough of a significant bearish trend line with resistance at 1.0720 on the 4-hour chart. This development indicates a potential shift in market sentiment towards the Euro against the US Dollar. GBP/USD Rallies On the other hand, GBP/USD
The European Union has recently initiated a series of investigations into various Chinese industries in an effort to protect its home-grown manufacturers. These investigations focus on the procurement of medical devices, subsidies for wind turbines, solar panels, and electric vehicles. The European Commission, responsible for carrying out these probes, aims to address unfair competition and
The International Monetary Fund (IMF) is scheduled to send a mission to Pakistan this month to discuss the possibility of a new program. This development comes as Pakistan embarks on its annual budget-making process for the upcoming financial year. With the completion of a short-term $3 billion program last month, which helped prevent a sovereign
The Gulf stock markets closed higher on Sunday with the Qatar index leading the way. This surge in stock prices was driven by the slowing U.S. jobs growth in April, which raised hopes among investors of early interest rate cuts by the U.S. Federal Reserve. The Labor Department’s employment report revealed that the U.S. economy
The Bank of England is set to meet for the third time in 2024 on Thursday. The decision on interest rates will be announced along with the release of the Monetary Policy Report and minutes of the meeting. Market expectations do not anticipate a change in the current bank rate of 5.25%. Instead, the focus
Foreign exchange experts have conducted a Reuters poll on the future of Mexico’s peso, indicating that the currency is expected to face some challenges in the medium-term. Despite a relatively firm economy, the peso has experienced a 1% decline year-to-date. This drop is considered minor when considering the various negative factors affecting the currency, such