Recent economic data and forecasts have the potential to greatly influence the direction of the AUD/USD currency pair. In particular, upcoming releases such as the ISM Services PMI, Australian GDP numbers, US Services PMI, and the US Jobs Report are likely to play a significant role in shaping market sentiment and investor decisions. The services
Potential
Emerging market currencies are facing a challenging time as the U.S. Federal Reserve shows no urgency to lower interest rates. The Fed’s cautious approach, combined with uncertainty surrounding key national elections, is putting pressure on these currencies. According to a recent Reuters poll of currency analysts, most emerging market currencies are expected to either weaken
In a recent announcement, buyout firm Apollo Global Management revealed plans to acquire a 49% equity interest in Intel’s manufacturing facility located in Ireland for a staggering $11 billion. This strategic investment marks a significant move in the semiconductor industry and is expected to have implications for both Intel and Apollo. With the acquisition of
In the world of meme stocks and online trading, Keith Gill has made a name for himself as a champion of GameStop. Starting with a $53,000 bet in his favorite video game retailer almost five years ago, Gill’s net worth has now skyrocketed to over $289 million. Known as “DeepF——Value” on Reddit and “Roaring Kitty”
The USD/JPY exchange rate experienced a pullback on Tuesday due to a risk-off market sentiment. The market’s risk-off tone generated safe-haven demand, benefiting the Yen and pressuring the USD/JPY pair. Additionally, rumors circulating that the Bank of Japan (BoJ) is considering reducing its bond purchases further supported the Japanese Yen and added downward pressure on
Bank of Japan Deputy Governor Ryozo Himino emphasized the importance of monitoring the impact of the yen’s movements on the economy. While the weakening of the currency may influence the timing of interest rate hikes, Himino also cautioned against directly targeting exchange rates in monetary policy decisions. He emphasized the need to carefully analyze the
The recently published PMI Manufacturing indices for several countries, including the US, have turned out to be disappointing. The Final Manufacturing PMI for the US came in at 51.3, slightly above the expected value of 50.9 but still lower than the previous value of 50.9. Similarly, the ISM Manufacturing PMI for the US was reported
The recent OPEC+ meeting held over the weekend seems to have had a limited impact on the price of crude oil. Looking at the chart data, WTI oil opened at $76.72 per barrel on Monday, just slightly higher than the Friday closing price of $76.57. This indicates that the decision made by oil producers has
EURCHF recently reached a 14-month high of 0.9928 before experiencing a sharp decline towards the 50-day SMA. This drop was accompanied by momentum indicators turning bearish, signaling a potential shift in the market sentiment. Despite the ongoing recovery since late December in an attempt to erase the significant downtrend from 2021-2023, the pair faced resistance
Gold prices have been oscillating recently, hovering near a three-week low. One of the key factors influencing this trend is the increasing likelihood of the Federal Reserve cutting interest rates later this year. This expectation has been fueled by signs of easing inflationary pressures in the United States, which in turn undermines the strength of
Dutch digital bank, Bunq, is eagerly anticipating the acquisition of a banking license from U.K. financial regulators by the end of this year or the beginning of next year. CEO and founder, Ali Niknam, expressed his hopes during an interview at the Viva Tech conference in Paris. Niknam acknowledged the potential challenges that may arise
As Asia ushers in the new trading month for global markets, there is a keen focus on manufacturing PMI data from the continent’s major economies. Investors are anticipating a shift in interest rates from the U.S. and other countries, which could have a significant impact on market trends. Key indicators to monitor include factory activity
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