Most stock markets in the Gulf region saw an upturn on Sunday with the Saudi index leading the way. Saudi Arabia’s benchmark index rose 1.1% following a U.S. inflation reading that hinted at potential interest rate cuts from the Federal Reserve. This increase came after the index hit a more than five-month low on Thursday.
Development
The current estimate projects the unemployment rate to remain at 3.9%, with a possible high estimate of 4.0% and a low of 3.8%. This stability in the unemployment rate is a positive sign for the economy, indicating that job market conditions are relatively strong. However, it is crucial to monitor any fluctuations as they could
The CEO of VanEck, Jan van Eck, recently highlighted a significant sentiment shift in the cryptocurrency market following the U.S. Securities and Exchange Commission’s approval of a rule change that allows for Ethereum exchange-traded funds. Describing it as one of the most remarkable developments in his career concerning securities regulation, van Eck emphasized the importance
In 2019, Adam Moelis founded Yotta, a fintech startup with the intention of providing Americans with a novel approach to saving money. However, what began as a venture to help individuals navigate life’s financial ebbs and flows, has now turned into a source of immense anguish for countless customers. The troubles for Yotta commenced on
In recent months, China has been facing a crisis in its property sector, with new home prices rising slightly for the ninth consecutive month in May. The average new home price across 100 cities increased by 0.25% on a monthly basis, indicating a slow but steady recovery following a 0.27% gain in April. This growth
Billionaire investor Bill Ackman has taken a major step by selling a 10% stake in Pershing Square, a move aimed at eventually making his investment firm public. The fundraising round saw the company raise $1.05 billion, representing 10% of the management company and suggesting a valuation of $10.5 billion. The investors involved in the deal
France is making its name known in the world of artificial intelligence, positioning itself as the next superpower in this technological field. The Viva Technology conference held in Paris was abuzz with discussions about France’s advancements as an AI leader. One notable highlight was the French AI firm H, previously known as Holistic, which secured
Asian stocks are seeing a positive trend as they head towards the fourth consecutive month of gains. This trend is driven by various factors, including the performance of global currencies and key economic indicators. The recent data showing a downward revision in consumer spending in the U.S. has had a significant impact on Treasury yields
The GBP/USD pair is currently trading at 1.2695, showing a weaker performance due to the strength of the US Dollar. The rise in US yields and reduced expectations of a Fed rate cut in September have contributed to the stronger dollar. This has caused a downward pressure on the pair, with traders adjusting their bets
The recent rise in U.S. and global bond yields is causing turmoil in Asian markets, with investors feeling the effects of a strengthening dollar and tighter financial conditions. The lack of significant economic data and events in Asia on Thursday has left market participants to contemplate the implications of this trend, leading to a decline
The preliminary data on inflation in three German states in May indicates some interesting trends. While the inflation rate increased in North Rhine-Westphalia, Bavaria, and Saxony, it declined in Brandenburg. This mixed picture suggests that there are regional variations in price growth within the country. It will be crucial to monitor the national inflation data
The recent release of Australian economic data has had a notable impact on the AUD/USD pair, pushing it up to 0.6650. The consumer price index (CPI) in Australia accelerated to 3.6% year-on-year in April, showing a slight increase from the previous month. This rise in inflation has raised questions about the Reserve Bank of Australia’s
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