The Treasury will send officials to China this week to discuss a variety of economic issues. Talks will focus on business and market practices that have put the superpowers at odds. The Treasury envoy will visit China this week as the two giants work to resolve economic tensions following last …
Read More »EUR/GBP surges following Eurozone PMIs
The EUR/GBP pair saw a 0.25% increase in Monday’s trading, trading at 0.8560, gaining 0.25% and moving towards the 20-day Simple Moving Average (SMA) at 0.8565. Despite pressures from a stagnant Euro Area economy and anticipations of the ECB’s rate cut, the daily chart indicates buyers’ dominance. However, hourly indicators …
Read More »Caterpillar stock on track for record high on higher than expected earnings
Higher prices helped Caterpillar boost profit margins and offset a drop in sales volume. Higher prices helped Caterpillar boost profit margins and offset a drop in sales volume. Caterpillar shares were on pace to close at a record high after the excavator and bulldozer builder reported a fourth-quarter profit that …
Read More »McDonald’s stock slightly dipped after sales disappoint
McDonald’s stock fell marginally in premarket trade Monday as the world’s largest fast food restaurant failed earnings projections and, like Starbucks last week, blamed weaker sales on the Israel-Hamas war.McDonald’s reported Q4’s revenue of $6.41 billion, 7.5% higher than the $5.92 billion recorded in the same period previous year and …
Read More »RBA Rate Decision Preview: Forecast by eight major banks
The Reserve Bank of Australia will announce its next Interest Rate Decision on Tuesday, February 6 at 03:30 GMT. As the release date approaches, here are estimates from economists and researchers at eight major banks about the next central bank decision.The customary rate decision and post-meeting statement will be followed …
Read More »Gold Prices Retreat Amid Dollar Strength and Rising Treasury Yields
On Monday, gold prices experienced a decline as the dollar strengthened, and U.S. Treasury bond yields rose following a robust jobs report. The data indicated a strong performance in the job sector, dampening expectations of an imminent interest rate cut by the Federal Reserve. Gold Price Movements Spot Gold Drops …
Read More »European stocks open higher on positive business results
European stocks saw a positive start to the trading session on Monday, fueled by more upbeat corporate results, although investor confidence faced headwinds from global economic considerations and reassessment of interest rate expectations. Market Overview STOXX 600 Index Rises 0.2 Percent The European STOXX 600 index demonstrated resilience, rising by …
Read More »Dollar Hits 8-Week High Amidst Diminished Rate Cut Expectations
On Monday, the US dollar surged to its highest level in eight weeks against major currencies as traders recalibrated their expectations for significant interest rate cuts by the Federal Reserve this year. The robust performance of the US economy, coupled with a stronger-than-expected jobs report, contributed to the dollar’s ascent. …
Read More »Nikkei Rises on Weaker Yen and Wall Street Gains
On Monday, Japan’s Nikkei index experienced a rise, propelled by the weakening yen and positive momentum from Wall Street over the weekend. The Nikkei climbed 0.54 percent, closing at 36,354.16 points. The broader Topix index also witnessed an increase of 0.67 percent. Market Dynamics and Stock Movement Support from Wall …
Read More »Oil Prices Stabilize Amidst Middle East Tensions and Ceasefire Efforts in Gaza
In the early hours of Monday’s Asian trading session, oil prices steadied following significant declines last week. The market’s focus remained on ongoing attempts to negotiate a ceasefire agreement in the Gaza Strip. Despite these diplomatic efforts, the United States has signaled its intention to carry out additional attacks on …
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