On Wednesday, the dollar edged closer to its highest level since November in anticipation of the Federal Reserve’s interest rate decision later in the day. This move followed Tuesday’s data indicating persistent inflationary pressures in the American economy. Meanwhile, the yen dropped to its lowest level since concerns emerged about …
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AstraZeneca is beating the odds this week. The COVID-19 vaccination is still controversial, but it doesn’t stop the company’s stock price rising. With the 1.3% increase today, the share price has recently surged over 8% within only five days, building on the enthusiasm from the strong Q1 results announced last …
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Markets expect the Fed rate to remain unchanged at the end of the Federal Open Market Committee meeting today, Wednesday, May 1, as inflation data for early 2024 has raised concerns that the transition to a 2.00% annual inflation rate may take longer than previously expected.Markets are awaiting the Fed’s …
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Beyond forecasts, Amazon’s performance during Q1 was a remarkable success, with continued dominance in both cloud computing and e-commerce. The path ahead is not free from challenges, though. To sustain development trajectory, Amazon needs to strategically manage issues including consumer spending patterns, address intensifying competition, and economic concerns. The massively …
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The Canadian GDP print came below forecast, further weakening the Canadian currency. US wage growth picks up speed once more, dash hopes for rate cuts. Tuesday saw a weakening of the Canadian currency relative to the US dollar following a risk-off surge in the US market session that followed above-average …
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On Tuesday, the yen retraced some of its substantial gains from Monday, attributed to potential intervention by Japanese authorities. The Japanese currency declined by 0.40 percent to 157.00 against the dollar, moving away from its 34-year low of 160.245 recorded on Monday. Traders speculated that Tokyo intervened by purchasing yen, …
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US stocks rose on Monday, extending last week’s rally into a week that is remarkably busy with corporate earnings, employment data, and a Federal Reserve policy meeting. The Dow Jones Industrial Average and Nasdaq Composite each gained 0.4%, while the S&P 500 rose 0.3%. Tesla (TSLA) shares soared after Elon …
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The price of Bitcoin, the most well-known cryptocurrency worldwide, is under pressure as it approaches $60,000. As of this writing, Bitcoin is trading at $62,727, down -1.88% from its peak. The Federal Reserve is the focus of attention in the cryptocurrency market this week due to the highly anticipated FOMC …
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Hong Kong is set to launch trading for spot Bitcoin and Ether exchange-traded funds (ETFs) on April 30, marking a significant milestone in developing regulated crypto investment products and ETFs worldwide. Three Chinese firms, China Asset Management, Bosera Asset Management, and Harvest Global Investments, are expected to launch crypto ETFs …
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The EUR/USD is struggling to maintain gains above 1.0700 amid uncertainty ahead of key economic events, including the release of Eurozone’s CPI, Q1 GDP, and the Fed’s policy outlook. The European Central Bank is expected to start reducing key borrowing rates in June, with the release of preliminary data on …
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