The Indian Rupee (INR) faced some challenges on Wednesday as a result of increased demand for the US Dollar (USD) and the belief that the US Federal Reserve won’t be cutting interest rates anytime soon. However, despite these setbacks, the INR managed to hold its ground due to positive signals from the local stock market
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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
As the Research Team continues to monitor various economic indicators such as the 2-year and 10-year UST yields, the US Dollar Index, and energy markets, it is essential to recognize the significance of these metrics in assessing market trends. The upcoming release of the US GDP Advance estimate and the PCE Price Index will provide
Taiwan Semiconductor Manufacturing Company (TSMC) exceeded revenue and profit expectations in the first quarter of this year, thanks to the strong demand for advanced chips, especially those used in AI applications. The net revenue reported was 592.64 billion New Taiwan dollars ($18.87 billion), surpassing the expected NT$582.94 billion. Moreover, the net income was NT$225.49 billion,
Following the Bank of Japan’s decision to exit negative interest rates, the USD/JPY exchange rate experienced a significant decline to the 154 handle. This move was largely influenced by the forward guidance provided by the BoJ, which signaled the implementation of accommodative policy measures. While this decision may have bolstered buyer demand for the Japanese
The NZD/USD pair has been on a downward trend, reaching levels near 0.5880 during the Asian trading session. This decline can be attributed to investors seeking safe-haven assets like the US Dollar amid escalating tensions in the Middle East. Traders are closely monitoring Israel’s response to Iran’s recent airstrike, which has added to the cautious
The forecasts for industrial production and retail sales in China are indicating weaker trends. Economists are expecting retail sales to increase by 4.5% year-on-year in March, following a 5.5% rise in February. Similarly, industrial production is predicted to grow by 5.4% year-on-year in March, after a 7.0% increase in February. These numbers hold significant importance
The EUR/USD pair has experienced a significant decline below the key support level of 1.0780, indicating a shift in market sentiment. This downward movement was further exacerbated by the breach of a crucial bullish trend line with support at 1.0850 on the 4-hour chart. The escalation of geopolitical tensions, specifically Iran’s launch of more than
Investors should pay close attention to the Bank of Japan’s commentary as a response to the escalating tensions in the Middle East. The central bank’s reactions to the rising threat of a prolonged conflict in the region could have a significant impact on the financial markets. Any statements or actions taken by the Bank of
The inflation figures released on Friday will play a vital role in influencing the Bank of Japan’s rate path. It is anticipated that service sector-driven inflationary pressures could potentially prompt discussions about the timing of an interest rate hike. Economists predict that the annual inflation rate will hold steady at 2.8% in March, while core
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China, the world’s largest auto market, is undergoing a significant transition towards electric vehicles (EVs). With EV sales expected to make up 40% of the 23 million cars sold this year, the demand for gasoline is predicted to peak by 2025 and could halve by 2045. This shift has prompted major oil companies like Sinopec