As investors eagerly await the conclusion of the U.S. Federal Reserve meeting, all eyes are on whether interest rate cuts are still on the table for this year. While it is unlikely that there will be any rate action, Federal Reserve Chair Jerome Powell’s comments about potential policy easing later in 2024 will be closely
Investment
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Deutsche Bank shares surged to a more than six-year high following the release of its first-quarter results. The German lender reported a 10% rise in profit, surpassing analyst expectations and indicating a positive trend in its investment banking division. The stock, which initially declined in the morning, rallied 7.2% in London, reaching its highest intraday
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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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German Chancellor Olaf Scholz and Finance Minister Christian Lindner have both expressed skepticism about reforming the country’s ‘debt brake’. The debt brake, which limits public deficits to 0.35% of gross domestic product, is constitutionally enshrined and would require a two-thirds majority in both houses of parliament to reform. Despite some regional politicians raising the possibility
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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
Japanese Finance Minister Shunichi Suzuki made remarks regarding the government’s readiness to respond to excessive foreign exchange moves. He emphasized the need for close monitoring of FX movements and expressed a high sense of urgency in addressing any issues that may arise. Suzuki refrained from commenting on the current FX situation but assured that all
The once thriving landscape of Western financial firms in China is beginning to face challenges, as doubts arise about China’s economic recovery and its markets fail to keep up with their global counterparts. This shift is evident in the recent actions taken by firms like Fidelity International Ltd (FIL), Morgan Stanley, and Legal & General,
China’s data-driven quant trading funds are rapidly expanding overseas as competition intensifies at home. With regulators tightening scrutiny of the $260 billion sector, firms like Meridian & Saturn Capital (MS Capital) are beginning to offer their China strategy to offshore investors. DH Fund Management recently established its first offshore fund in March, signifying a move