Russia’s central bank has recently raised its key interest rate by a significant 200 basis points to 18%. This move comes as the country faces challenges related to high inflation and an overheated economy. The decision brings the cost of borrowing to its highest level in over two years, highlighting the severity of the situation
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GBPJPY recently pulled back from its 16-year peak of 208.10, marking its lowest level since May 16. The pair has been on an uptrend since early 2024, but has been undergoing a correction since reaching its recent high. The price has broken below the supportive trendline from January and the 50-day simple moving average, indicating
The financial markets saw mixed action on Thursday, leading investors to adopt a cautious stance on Friday. The upcoming US economic reports will include the Personal Consumption Expenditures (PCE) Price Index data for June. This data is crucial as it is the Federal Reserve’s preferred gauge of inflation. Additionally, reports on Personal Income and Personal
As Wall Street prepares to close a challenging week, focus remains on the Federal Reserve’s preferred gauge of inflation. The market is eagerly awaiting the release of June’s personal consumption expenditures (PCE) price index, with expectations of a 0.1% monthly increase and an annual figure of 2.5%, in close proximity to the Fed’s 2% target.
The USD/JPY pair has experienced a substantial decline recently, reaching a low of 151.93 before beginning a recovery phase. However, the pair is facing significant resistance levels, with the main hurdle at 155.50. A clear break above this resistance could push the pair towards the 156.20 level. On the other hand, immediate support is seen
The cryptocurrency market is witnessing a historic moment this week with the introduction of spot ether exchange-traded funds. Among the nine applicants who received approval from the Securities and Exchange Commission, Franklin Templeton stands out with its Franklin Ethereum ETF (EZET). Despite the initial excitement, the ETF has experienced a significant decrease of about 10%
Sotheby’s, a renowned auction house, is venturing into new territory with the opening of its first retail outlet in Hong Kong. This move marks a shift from the traditional auction model, offering a diverse range of products at varying price points. Despite the economic challenges faced by China, Sotheby’s remains optimistic about the long-term spending
Berkshire Hathaway, the conglomerate led by Warren Buffet, has continued to reduce its stake in Bank of America. Over the course of six consecutive trading days, the Omaha-based holding company has sold a total of 52.8 million shares of Bank of America. This recent sell-off culminated in the sale of another 18.9 million shares on
The GBP/USD pair is currently experiencing a decline in value, with market participants speculating about a potential rate cut by the Bank of England (BoE) and expressing concerns about global economic growth. There is a notable shift in market sentiment, with a 53% chance of rate cuts in August being priced in by investors. Economists
South Korea recently proposed a series of tax cuts in an effort to stimulate the domestic stock market and address the country’s declining birth rate, which is currently the lowest in the world. These tax cuts are part of a broader strategy known as the “Corporate Value-up Programme,” introduced earlier this year by the finance
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The gold price has been struggling as it continues to lose ground for the second consecutive day, reaching a two-week low. This decline can be attributed to technical selling, which has put pressure on the precious metal. However, the extent of the downward movement is expected to be limited. Additionally, the upcoming September Fed rate