Financial Japanese authorities had a meeting to address the weaker JPY and have agreed to act if the yen continues weakening. Despite falling on threats of an intervention by Japan, the GBP/JPY pair managed to gain 1.30% within a week.The GBP/JPY pair fell on Friday and trimmed weekly gains of …

Tesla announced in its annual proxy statement released late Friday it will seek shareholder approval to split its stock 3-for-1.Tesla said the proposed stock split, “would help reset the market price of our common stock so that our employees will have mor flexibility in managing their equity, all of which, …

Credit card companies are sweetening the bonuses they offer their customers, and American Express is doing just that through a new partnership with crypto wealth management platform and wallet provider Abra. The two companies announced the launch of the Abra Crypto Card on the Amex network today at Coindesk’s Consensus …

Next week, the Bank of England will have its monetary policy meeting. Analysts at MUFG Bank consider the meeting will pose some upside risk for the pound but they warn any rally should be short-lived in light of the still unfavourable UK cyclical backdrop. Key Quotes: “The weak outlook for …

US stocks sharply dropped on Friday after new data showed that inflation accelerated in May. The S&P 500 was recently down 2.4%. The Dow Jones Industrial Average declined 675 points, or 2.1%, while the Nasdaq Composite dropped about 3%. US stock benchmarks posted their biggest declines in more than three …

Economic data released on Friday showed the jobs in Canada rose by 39,800 in May, surpassing expectations. Analysts at CIBC, consider that recent economic data means that the Bank of Canada could raise its interest rates a little higher. Key Quotes: “A further solid rise in employment, decline in the …

The University of Michigan’s headline Consumer Sentiment Index slumped to 50.2 in June, its worst level since records began back in the 1970s, according to the preliminary release of the university’s widely followed monthly consumer survey. That was a large miss on the expected slight decline to 58.0 from 58.4 …

WTI crude, futures on NYMEX, holds above $119.00 and faces a minor time correction after a vertical upside move. The black gold is holding its gains despite the renewed fears of a lockdown in China to contain the spread of the Covid-19. The Chinese economy was recovering from lockdown measures …

WTI crude, futures on NYMEX, holds above $119.00 and faces a minor time correction after a vertical upside move. Crude oil is enjoying its gains despite the renewed concerns of another lockdown in China to contain the spread of the Covid-19.The Chinese economy was recovering from lockdown measures in Shanghai …

US government bond yields rose to 3.03% from 2.98% on Jun 8 on inflationary pressures-linked concerns ahead of the awaited CPI data. Earlier, this week, Treasury Secretary Janet Yellen acknowledged that the United States is currently facing “unacceptable levels of inflation.”To contain it, the Federal Reserve has enacted 75 bps …