Gold prices surged to $2500/oz as investors brace themselves for Fed Chair Powell’s speech at the Jackson Hole Symposium. The market saw a rebound in the European session, driven by a combination of factors including a stronger US Dollar, rising US Yields, and potential profit-taking. With the upcoming speech from Powell, many are speculating on
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Wall Street saw a significant uptick on Friday as the benchmark S&P 500 index edged closer to a record high. The surge in stock indexes followed Federal Reserve Chair Jerome Powell’s remarks at the annual economic conference in Jackson Hole. Powell’s endorsement of imminent policy easing citing risks in the job market and inflation nearing
When it comes to trading foreign exchange, it is crucial to understand the risks involved. Trading on margin carries a high level of risk, which may not be suitable for all investors. The high degree of leverage can work against you, leading to significant losses. Before diving into foreign exchange trading, it is essential to
Remote work has become a significant trend in the U.S. labor market, emerging as a result of the Covid-19 pandemic. Economists are noting that this shift towards remote work is one of the most significant changes in the labor market over the past few decades. According to Nick Bunker, an economic research director at Indeed,
The dynamics of business price-setting behaviors are undergoing a significant shift in response to intensified upward pressures on wages. According to a recent paper on service prices, authors have highlighted the need for a comprehensive analysis to investigate whether this phenomenon will continue to spread. This shift poses a challenge for businesses as they navigate
The AUD/USD pair recently experienced a drop, moving down to 0.6950 due to a recovery in the USD. This adjustment comes after a strong uptrend that saw the pair gaining around 2% in previous sessions. The narrative of monetary policy divergence between the Federal Reserve (Fed) and the Reserve Bank of Australia (RBA) has been
The recent rail stoppage in Canada, initiated by the two biggest freight rail operators CN and CPKC, has the potential to devastate the country’s economy. Economists and analysts warn that if the stoppage continues for weeks, Canada could see a significant shrinkage in its GDP, leading to job losses and a rise in consumer prices.
The JP 225 stock index has shown promising signs of recovery, reclaiming the losses it experienced in August. The index has displayed soft positive momentum for the past two days, reaching a three-week high of 38,421. This indicates a bullish potential in the market, with technical indicators pointing towards an upward trend. Despite a slight
Philadelphia Federal Reserve President Patrick Harker made a bold statement at the Fed’s annual retreat in Jackson Hole, Wyoming, indicating that an interest rate cut is imminent. He emphasized the need to start the process of moving rates down methodically in September to address potential weaknesses in the labor market and inflation concerns. With markets
EUR/USD has seen a significant uptrend recently, breaking through the key resistance level of 1.1000. The pair has entered a bullish territory against the US Dollar, with the bulls driving the price above the 50-hour simple moving average and reaching a high near 1.1132. Despite some consolidation, immediate support lies near the 1.1090 level, with
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The recent RBA Minutes have indicated that the current cash rates are likely to stay in place for a longer period. This has led to speculation that the Australian Dollar may continue to advance its gains in the near future. Despite the suggestion that a rate cut is unlikely soon, the market sentiment towards the