As U.S. stocks were poised to open higher on a particular day, there was significant upward movement in some growth and chip stocks. Notably, megacap tech stocks such as Meta Platforms, Microsoft, and Amazon.com showed gains ranging from 0.5% to 1.3% in premarket trading. Additionally, chip stocks like Nvidia, Micron Technology, and Advanced Micro Devices
Potential
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
The Japanese Yen is facing a series of challenges, from divergent BoJ-Fed expectations to easing Middle East tensions, which are capping the safe-haven JPY. Investors are closely monitoring the possibility of a government intervention in the markets by Japanese authorities, leading to speculations and contributing to some support for the JPY. Despite this, a significant
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
The Elliott Wave analysis of Visa Inc. (V) presented in the report seems to suggest that the stock is currently in a corrective phase, specifically identified as a ZigZag structure within Intermediate wave (4). The analysis raises the possibility of Intermediate wave (3) completion, indicating a potential bottoming out in wave (4). However, the report
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,
The recent climb in U.S. Treasury yields has captured the attention of investors eagerly awaiting crucial economic indicators to gain insights into the economy and the potential trajectory of interest rates. The 10-year yield saw an increase of over two basis points, reaching 4.6414%, while the 2-year yield followed a similar upward trend. Market focus
EURJPY has been showing signs of bullish momentum, with the bulls gearing up to challenge the recent high of 165.34. However, the looming intervention threat is acting as a roadblock to a more aggressive bullish trend. The verbal commentary from Japanese officials, the upcoming BoJ meeting, and dovish statements from ECB members are all contributing
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
The gold price is currently trading near $2,385 on Monday, experiencing a slight decline. This is mainly attributed to the hawkish shift in market sentiment, which could potentially dampen the demand for the yellow metal. The recent comments by Federal Reserve officials have also contributed to capping the upside of gold. Interest Rates and Gold
The recent weakening of the Japanese Yen could lead to a rise in import costs and inflation, which may have implications for household spending and the overall Japanese economy. The upcoming release of inflation data from Tokyo will provide insight into how the weaker Yen is affecting consumer prices, giving the Bank of Japan valuable
China has a significant impact on Australian exports, accounting for one-third of the total exports. This relationship is crucial as it influences job creation and wage growth in Australia. With 20% of the Australian workforce in trade-related jobs, any improvements in trade terms with China could potentially lead to an increase in job opportunities and