Market Update

Bitcoin’s price saw a modest recovery on Monday, rising more than 2% to $62,838.9 by 08:59 ET. This rebound came amidst broader market uncertainty and concerns surrounding the impending distribution of stolen Bitcoin from the now-defunct exchange Mt. Gox. Mt. Gox Liquidation and Potential Selling Pressure The liquidators of Mt. …

The eurozone’s manufacturing sector experienced a deeper contraction in June, as demand plummeted despite factories continuing to lower prices, according to a recent survey. HCOB’s final eurozone manufacturing Purchasing Managers’ Index (PMI), compiled by S&P Global, dropped to 45.8 in June from 47.3 in May, slightly exceeding the preliminary estimate …

Gold prices experienced a slight dip in Asian trading on Monday, hovering within a narrow range as traders cautiously await key signals from the Federal Reserve and further economic data. Despite increased expectations of a U.S. interest rate cut, the yellow metal struggled to capitalize on the weakening dollar, maintaining …

Asian stocks experienced a mixed session on Monday, with most indices hovering within a flat-to-low range. Investors grappled with conflicting signals from Chinese business activity surveys and lingering uncertainty surrounding the future of U.S. interest rates. Key Takeaways: Mixed Chinese PMIs: Government data revealed a second consecutive month of contraction …

In this report, we take a look back at the latest five trading days with a focus on the market news, economic data and headlines that had the most impact on key financial assets; including oil and gold prices as well as the key correlated assets. It is an opportunity …

The US dollar is preparing for French elections risk over the weekend, with early recovery thanks to recent statements by Trump and Suzuki. The PCE data is in line with expectations, with the index hovering around 106.00, back to Wednesday’s levels. Traders are still digesting the Trump-Biden debate, where many …

Nike shares declined in early Friday trading, setting up the stock for a loss of around $21 billion. The world’s biggest sportswear group issued gloomy near-term sales forecasts that could test investor patience for its ongoing turnaround strategy. Nike launched a $2 billion cost-cutting plan last year under CEO John …

U.S. inflation eased in May, matching economists’ expectations and potentially bolstering the case for the Federal Reserve to implement interest rate cuts in 2024. The headline personal consumption expenditures (PCE) price index, the Fed’s preferred inflation gauge, remained flat month-over-month, a significant slowdown from April’s 0.3% increase. The annual rate …

Key Points: Stronger Rebound: Britain’s GDP grew by 0.7% in Q1 2024, exceeding initial estimates, signaling a faster recovery from the previous recession.Weak Long-Term Growth: Despite the rebound, GDP is only marginally higher than a year earlier, highlighting persistent challenges to sustained economic growth.Election Impact: The weak economic outlook is …

U.S. stock index futures climbed on Friday, marking a robust first half of the year, as investors awaited the release of crucial inflation data that could influence the Federal Reserve’s interest rate decisions. Key Points: Market Performance: Dow Jones Futures rose 0.1%, S&P 500 Futures gained 0.4%, and Nasdaq 100 …