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
The news of Mike Lynch’s acquittal in June was a moment of relief for the British technology entrepreneur who had been embroiled in a lengthy legal battle with Hewlett Packard. However, just two months after being cleared of fraud charges, tragedy struck as Lynch was reported missing following the sinking of a superyacht off the
The dollar has fallen to its lowest point this year against the euro, with traders anxiously awaiting potential revisions to the U.S. payrolls data. This uncertainty is further compounded by an upcoming speech from Federal Reserve Chair Jerome Powell, adding to the volatility in the market. The pressure on the U.S. currency is evident as
In recent months, the Australian labor market has shown remarkable resilience, posing challenges for the country’s inflation outlook. Despite this resilience, annual inflation rates have remained in line with expectations. However, concerns have been raised regarding the sustainability of this trend, especially in the services sector. The strong jobs market has been a driving force
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Electric vehicles (EVs) have been touted as a more cost-efficient option for consumers compared to traditional gasoline-powered cars. While initial purchase prices may be higher for EVs, the long-term savings on fuel and maintenance costs make them a potentially cheaper choice over the lifetime of the vehicle. However, various factors such as the EV model,
BTCUSD, also known as Bitcoin, has been stuck in a sideways trading pattern over the past few sessions. The sentiment surrounding this cryptocurrency has been deteriorating, especially after facing multiple rejections at the 50-day SMA. This lack of upward momentum has caused concerns among traders and investors. Downside Potential and Key Levels to Watch In