The CEO of UBS, Sergio Ermotti, recently expressed concerns about the potential intensification of market volatility in the second half of the year. This comes after a period of sharp sell-offs in global equities, triggered by weak economic data from the U.S. While there are fears of an economic downturn, Ermotti does not believe that
Potential
The Commonwealth Bank of Australia recently reported a smaller-than-expected drop in its annual cash profit. This news came as a surprise to many analysts who were predicting a larger decrease. Despite the dip in margins and rise in overdue home loan payments, the bank managed to achieve a cash profit of A$9.84 billion, exceeding the
Following the unexpected decision by the Bank of Japan to raise interest rates to around 0.25%, the financial markets experienced a series of reactions. The Yen rallied while the Nikkei 225 briefly collapsed. Economists have expressed concerns over the unwinding of the Yen carry trade, suggesting that more volatility could be on the horizon for
Zeekr, a Chinese electric car brand, has recently unveiled new batteries that are being hailed as the fastest charging batteries in the world. This groundbreaking technology aims to address the long-standing concerns of consumers regarding battery driving range and charging convenience. The company claims that these new batteries can go from a 10% to an
After a period of consistent upward movement, Brent crude oil is now undergoing a phase of consolidation, resulting in prices retracting to 81.80 USD per barrel on Tuesday. The market sentiment has taken a hit due to renewed concerns regarding global oil demand, specifically following OPEC’s decision to lower its demand forecasts for 2024 and
The recent trading sessions have seen the USD/CHF pair trading in positive territory near 0.8670. The focus of investors has now shifted towards the upcoming US economic data releases. The US Producer Price Index (PPI), Consumer Price Index (CPI), and Retail Sales data are set to be released this week on Tuesday, Wednesday, and Thursday
The dollar seemed to be in a state of limbo on Tuesday, leaving investors on edge as they eagerly awaited the release of U.S. economic data. The greenback was seen idling at 147.17 yen, after briefly reaching a one-week high of 148.23 yen. There was a sense of uncertainty as profit-taking emerged, causing the dollar
The USD/CAD pair is currently trading around 1.3740 in the Asian session, with traders awaiting the US Producer Price Index (PPI) data for fresh trading impetus. The recent surge in crude oil prices and expectations of a Fed rate cut in September are factors that might support the Canadian Dollar (CAD) in the short term.
The AUD/USD pair saw a significant boost, settling near the 0.6600 level. This move came as a result of the Reserve Bank of Australia (RBA) maintaining its hawkish position. The RBA’s unwavering stance, coupled with stronger Chinese inflation figures, provided a strong foundation for the Australian Dollar (AUD). However, the escalating geopolitical tensions in the
In the early days of the week, gold prices have continued to rise, marking a third consecutive day of recovery. This comes after a significant drop last week, with the precious metal benefiting from indications that the Federal Reserve might implement a 50 basis point rate hike in September. The uncertainty surrounding the US economy,
As the New Zealand dollar continues to rise against the US dollar, reaching 0.6014, all eyes are on the upcoming Reserve Bank of New Zealand (RBNZ) meeting. Analysts predict that the official cash rate will remain at 5.5%, marking the ninth consecutive time without a change. Concerns about the strength of New Zealand’s economy persist,
In response to the recent allegations made by US-based shortseller Hindenburg Research, India’s markets regulator, Securities and Exchange Board of India (SEBI), has urged investors to remain calm and exercise due diligence before making any hasty decisions. The report by Hindenburg alleged that SEBI’s head, Madhabi Puri Buch, had previous investments in offshore funds used
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