The latest data on EUR/USD reveals an intriguing economic landscape within the Euro Zone. While overall inflation has seen a decline, services have emerged as a key player with an annual rate of 4.2% in August, surpassing the previous month’s 4.0%. This rise in services costs has led to speculation about a potential “Olympic effect”
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Brazilians are set to experience an increase in their electricity bills for the month of September. This decision was made by the local power regulator Aneel in response to a decline in reservoir levels at hydroelectric plants. Despite the country’s efforts to incorporate wind and solar power into its energy mix, over half of Brazil’s
The recent US Personal Consumption Expenditures (PCE) report has sent shockwaves across the market, particularly affecting the price of gold. Following the report, there has been a significant drop in gold prices, with it slipping below $2,500. This fall has further fueled expectations of a rate cut by the Federal Reserve in September. The Fed’s
Chinese President Xi Jinping recently met with U.S. national security advisor Jake Sullivan and expressed his hope for Washington to find “a right way” to foster better relations between the two countries. Despite escalating tensions in recent years, Xi emphasized China’s commitment to a stable and healthy relationship with the United States. Xi Jinping highlighted
China’s manufacturing sector faced a setback in August as it slowed to a six-month low, according to an official factory survey. This decline, as indicated by the Purchasing Managers’ Index (PMI), has raised concerns about the country’s economic growth prospects. The official PMI fell to 49.1 in August from 49.4 in July, marking the fourth
Over the past few trading sessions, Wall Street stocks have shown a positive trend, with the Dow reaching a new all-time high. Companies like Tesla, Amazon, Broadcom, and Marvell have seen significant gains, reflecting investor optimism due to the latest economic data. The market seems to be reacting positively to the possibility of a rate
At the ripe age of 94, Warren Buffett, the investment magnate, saw Berkshire Hathaway surge to a market capitalization of over $1 trillion, marking a historic milestone. Howard Marks, a distinguished investor and close friend of Buffett, attributes his enduring success to a meticulously crafted strategy executed with unwavering discipline, consistency, and exceptional insight. According
Gold has maintained a firm tone and is currently near its all-time high, as it eagerly awaits the release of US PCE data. This data, due later today, is expected to provide fresh signals for the precious metal. The strong demand for gold, as a safe haven asset and due to large purchases by central
The EUR/USD pair saw some upward movement, trading near 1.1080 in the early Asian session on Friday. This came after the US Gross Domestic Product (GDP) growth rate exceeded expectations in the second quarter, as reported by the Department of Commerce. The figure of 3.0% annual growth outperformed the forecast of 2.8%, signaling a strong
When it comes to making financial decisions, it is crucial to conduct thorough due diligence checks. While there is an abundance of information available online, not all of it is accurate or up-to-date. It is imperative to verify and cross-reference information from multiple sources before making any investment or buying any products. Consulting with competent
The euro has recently seen a decline from its previous highs, facing strong resistance at the 1.12000 level. After two unsuccessful attempts to break through this resistance, the price has corrected to 1.1100 and seems to be range-bound between 1.1200-1.1090. A potential downward correction could occur if the price breaks and holds below 1.1090, leading
China’s recent decision to open an anti-subsidy probe into imported dairy products from the European Union has added fuel to the ongoing tensions between the two economic giants. This move comes on the heels of Brussels releasing a revised draft decision related to tariffs on China-made electric vehicles, further complicating trade relations between China and