The recent economic data coming out of China has painted a bleak picture of the country’s economic health. With new home prices plummeting, industrial output slowing, export and investment growth declining, and unemployment on the rise, the pressure is mounting on Beijing to take decisive action to jumpstart growth. While there were some data points
As investors turn their attention towards the potential for Fed rate cuts in 2024, the US dollar is facing a critical week. The upcoming FOMC Meeting Minutes on August 21 will be closely scrutinized, with a focus on the sentiment towards the US economy, the labor market, and the Fed rate path. These factors are
Indonesia’s outgoing government recently submitted a 2025 budget plan to parliament targeting a narrower deficit and higher expenditure than the current year. The budget proposal, worth 3,613.1 trillion rupiah, projects a deficit of 2.53% of GDP – narrower than this year’s 2.7%. This move signifies that Southeast Asia’s largest economy intends to remain fiscally prudent
The recent surge in the US stock market can be attributed to positive economic data that has alleviated concerns about an impending recession. Following a significant sell-off earlier in the month, the S&P 500 has managed to bounce back by over 6%. This recovery has been fueled by reports on retail sales, inflation, and producer
China’s People’s Bank of China Governor, Pan Gongsheng, recently stated in state media interviews that the financial risks in China have significantly decreased, including those stemming from local government debt. According to Pan, the central bank will collaborate with the Ministry of Finance to ensure that China achieves its annual growth targets. He emphasized that
The NZD/JPY pair has experienced a slight increase, reaching 89.30 and approaching the 20-day Simple Moving Average (SMA). This movement suggests that there may be some bullish momentum in the market. Looking at the Relative Strength Index (RSI), it is hovering around the 50 mark. This indicates that the market is neither oversold nor overbought
As per the recent analysis, the bearish scenario suggests selling positions below 2470 with intraday profit targets at 2463, 2460, and 2456. It is recommended to place a stop loss above 2473 or at least 1% of the account capital. Conversely, the bullish scenario recommends buying positions after a pullback above 2460 with profit targets
The Dollar Index (DXY) is currently at $102.911, showing a slight decrease of 0.06% for the day. The index recently retraced to the 38.2% Fibonacci level at $103.039, where a bearish engulfing candle appeared on the 4-hour chart. This indicates the possibility of a further downward correction. The 50-day and 200-day EMAs, located at $103.027
After the release of the University of Michigan’s Consumer Sentiment Index figures and softer-than-expected housing market data, the US Dollar Index (DXY) experienced a decline, indicating a reaction to the economic data. The Consumer Sentiment Index recorded an improved figure for early August, which exceeded market expectations. However, the Current Conditions Index illustrated a decline,
The AUD/USD pair saw a rise of 0.40% during the recent session, reaching levels around 0.6950. This increase can be attributed to the hawkish stance maintained by Reserve Bank of Australia’s (RBA) Governor Michele Bullock. Her comments emphasized vigilance toward potential inflation risks, stating that it is premature to consider any rate cuts at the
Wealth managers utilize cash sweep programs to transfer uninvested cash in brokerage accounts to partner banks, allowing clients to earn returns on idle funds. However, these programs have come under scrutiny due to disputes surrounding the interest rates paid by partner banks, which are often lower than alternative options such as money market funds. Recent
The recent appointment of Alan Taylor, an economics professor specializing in international economics and financial crises, to the Bank of England’s Monetary Policy Committee has drawn attention from economists and financial experts alike. Taylor, a British-born professor currently at Columbia University in New York, brings a wealth of experience from both academia and the financial