According to a source familiar with the matter, BHP Group is contemplating an enhanced offer for Anglo American after its initial $39 billion proposal was turned down by the London-listed miner. Discussions are underway regarding a revised bid, which is expected to be presented in the upcoming weeks. However, the group has not yet finalized
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As the U.S. Treasury Department gears up to announce its refunding plans for the upcoming quarter, investors are eagerly anticipating a sense of relief after several quarters of auction size increases. The expectation is that the Treasury will maintain the size of most of its auctions, with potential increases in specific issues such as the
After the Bank of Japan decided to keep its monetary policy unchanged, the Japanese Yen (JPY) faced bearish pressure, resulting in the currency trading at its weakest level in over three decades against the US Dollar. The BoJ maintained the key interest rate target range at 0%-0.1% and removed the reference to buying about 6
The US economy experienced a slowdown in the first quarter of the year, falling below the Federal Reserve’s estimates of its long-run potential. This deceleration, coupled with a rapid rise in inflation, presents a unique challenge for the central bank. While the 1.6% growth rate indicated a cooling economy, the persistently high inflation rates have
Recent economic data releases have sparked investor interest and scrutiny regarding the Federal Reserve’s next monetary policy moves. The S&P Global Flash manufacturing PMI for the U.S. revealed a four-month low of 49.9 in April, signaling sector contraction. This unexpected downturn has raised concerns about the overall health of the economy and its potential impact
The recent movement in gold prices has been relatively stagnant, with minimal fluctuations as traders closely monitor U.S. economic data. The price of gold edged up slightly to $2,325.23 per ounce, but overall market sentiment remains cautious. The focus is on the upcoming GDP and PCE reports, as they have the potential to influence the
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Xiaomi, the Chinese smartphone company, has seen overwhelming success with its new electric vehicle, the SU7 sedan. With over 70,000 orders received as of April 20, the company is well on its way to achieving its goal of delivering 100,000 units this year. This comes as a surprise, considering the SU7 is priced $4,000 lower
The European market is currently experiencing strong business activity indicators, which have contributed to pushing the euro above $1.07. This surge in the euro’s value has been influenced by promising news from Tesla, with the electric vehicle maker’s shares seeing a significant increase of 13% in after-hours trading. It is worth noting, however, that despite
The recent data showing a surprisingly robust business activity in the euro zone has had a significant impact on the currency market. The euro strengthened against the dollar, causing the dollar index to drop. This unexpected boost in European activity has raised questions about the strength of the U.S. economy in comparison to its European
The GBP/JPY cross saw a rise in the 190.85-190.80 region on Tuesday and continued to climb during the European session, reaching around 191.60. This increase was in response to the upbeat UK Services PMI, which exceeded expectations by rising to 54.9 in April. Risk Tone and Safe-Haven Currency The positive risk tone in the market
Gold prices recently experienced a downside correction after reaching a high of $2,430. The pullback was initiated after trading below a key bullish trend line with support at $2,375 on the 4-hour chart. This correction also saw the price drop below the 23.6% Fib retracement level of the upward move from the $2,147 swing low