The recent movement in the price of gold, as depicted by the XAU/USD chart, has been quite volatile. While there was a significant rise above the $2390 level on Friday, indicating a bullish trend, the price subsequently fell to $2360 per ounce on Monday. This sudden decline suggests that the bulls were unable to maintain
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Thailand’s automotive landscape is shifting, with electric vehicles (EVs) taking the lead as the future of transportation. Chinese automaker BYD has recognized the potential of this market and is making strategic moves to solidify its position in Thailand. BYD’s decision to acquire a 20% stake in Rever Automotive, its local distributor, showcases its commitment to
The recent rally of Chewy shares was triggered by a picture posted by Roaring Kitty, also known as Keith Gill, on social media platform X. The image, which resembled the logo of the online pet food retailer, caused the stock to surge by as much as 34% to $39.10. However, these gains were short-lived as
Cisco’s Greater China head, Ming Wong, expressed his optimism about the growing business with Chinese electric car companies as they expand overseas. The electric vehicle (EV) segment is the second-largest for Cisco in the region, generating most of its revenue from manufacturing companies, with electric cars being the largest category. Chinese EV-makers have been increasing
The yen has reached a level of weakness against the US dollar that has not been seen since late April. This has prompted the Bank of Japan to intervene in the currency market, deeming a rate above 160 yen per USD as unacceptable. Japanese officials have issued warnings against “excessive” volatility, hinting at the possibility
In the cutthroat world of startups, it’s not uncommon to come across ambitious entrepreneurs making grand claims to entice investors. Foundation Robotics Labs, a humanoid robotics startup, found itself in hot water after allegedly fabricating ties with General Motors (GM) in a bid to secure funding. The company claimed that GM had committed to investing
GameStop shares took a steep nosedive, dropping over 14% on Monday, following a significant sell-off triggered by disappointing earnings and an underwhelming livestream by Keith Gill. The stock, which had already plummeted nearly 40% on Friday, hit a low of around $24 per share on Monday. The release of GameStop’s earnings report ahead of schedule
The recent rise in the price of WTI crude oil, as indicated by the chart, can be attributed to several key factors. Firstly, the upcoming OPEC+ meeting scheduled for 2 June has created a sense of optimism among investors. Additionally, expectations of high fuel demand due to the start of the summer driving season and
The GBPCAD currency pair has been advancing in a bullish sequence since late 2023, bouncing from an equal leg area. This sequence is part of a larger diagonal structure that began in October 2023. The primary degree wave ((1)) was completed on 22nd April 2024 at 1.6888, followed by wave (5) of ((1)) which quickly
In a bold move towards technological advancement, Swedish financial technology company Klarna has reported that a significant majority of its workforce is now utilizing generative artificial intelligence tools as part of their daily tasks. With over 87% of its employees engaging with AI tools such as OpenAI’s ChatGPT and the company’s own internal AI assistant,
The USDJPY pair has been experiencing a downward trend, slipping below 153 on Friday morning to reach a three-week low. This decline comes after the currency lost over 4.5% from a peak of 160.2 at the beginning of the trading week. Various factors contribute to this downward movement, including a widening interest rate differential and
Xiaomi, the Chinese smartphone company, has seen overwhelming success with its new electric vehicle, the SU7 sedan. With over 70,000 orders received as of April 20, the company is well on its way to achieving its goal of delivering 100,000 units this year. This comes as a surprise, considering the SU7 is priced $4,000 lower