Berkshire Hathaway, the conglomerate led by Warren Buffett, made headlines by trimming its significant Bank of America holding for the first time in over four years. The move came after Bank of America’s impressive run in 2024, with Berkshire selling 33.9 million shares of the bank in separate transactions totaling nearly $1.5 billion. The sale,
The NZD/USD pair is currently facing a significant downturn, with the pair trading around 0.5996. One of the key factors contributing to this decline is the recent announcement by US President Joe Biden that he will not seek re-election in 2024. This unexpected news has strengthened the US dollar, as Biden endorsed Vice President Kamala
When it comes to making financial decisions, it is crucial to conduct thorough due diligence checks. Relying solely on the information provided by third parties or market makers can be risky. It is important to apply your own discretion and consult with competent advisors before taking any action. The information available on various websites may
Ukraine recently announced a preliminary deal with a bondholder group to restructure a significant amount of debt, totaling $19.7 billion. This agreement, which is still subject to approval by bondholders, includes several key aspects that could have a significant impact on the country’s financial future. One of the main elements of the deal is a
After analyzing the recent movement of the New Zealand Dollar (NZD), it is evident that there is still potential for the currency to drop below 0.6000. UOB Group FX strategists Quek Ser Leang and Peter Chia have noted that the NZD has shown signs of weakness and could continue to decline in the near future.
EUR/USD has started a steady increase and has managed to surpass the 1.0910 resistance level. This positive movement indicates a bullish trend for the Euro against the US Dollar. The pair has climbed above key moving averages, such as the 100 simple moving average and the 200 simple moving average on the 4-hour chart. However,
China made unexpected moves in lowering key short-term policy rates and benchmark lending rates on Monday in an attempt to stimulate growth in its economy. This decision comes after the country reported disappointing second-quarter economic data and as top leaders convened for a critical plenum meeting. The move signals China’s efforts to combat deflation, address
EUR/USD has seen a slight uptick to 1.0895 in the early Asian trading session on Monday, marking a 0.12% increase for the day. This movement can be attributed to various factors, including statements from key central bank officials and upcoming economic indicators. The Federal Reserve’s stance on a potential rate cut, as highlighted by Fed’s
The reaction from Nataxis Asia Pacific Chief Economist Alicia Garcia Herrero to China’s Third Plenum and press conference was overwhelmingly negative. She criticized the lack of change in direction and the absence of any mention of the power of market forces. This disappointment reflects a lack of confidence in China’s ability to shift towards consumption-led
China’s recent decision to cut short and long-term rates by 10 basis points has sent shockwaves through the global financial markets. The People’s Bank of China announced this move with the intention of supporting economic growth in the country. This decision came shortly after the release of a policy document outlining China’s economic ambitions for
Britain’s new finance minister, Rachel Reeves, is currently considering giving inflation-busting pay increases to almost 2 million government employees. This move comes as an attempt to avoid potential public sector strikes that could cripple essential services. The pay review bodies advising the government have recommended a substantial 5.5% wage rise for 460,000 teachers and 1.4
The People’s Bank of China is expected to keep the one-year and five-year Loan Prime Rates steady at 3.45% and 3.95% respectively. However, any unexpected cut could potentially boost demand for the Australian dollar. Lower lending rates in China could lead to an increase in credit demand and consumption, which in turn could benefit the