In a recent address to Parliament, Britain’s new finance minister, Rachel Reeves, highlighted the dire state of the country’s public finances. Coming into office after a landslide victory on July 4, the Labour government inherited a situation where public spending was set to exceed budget by a substantial 21.9 billion pounds. Reeves wasted no time
Stock prices saw a rebound on Friday, with the S&P 500 index closing 1.11% higher. However, it closed below the daily high, indicating consolidation rather than a shift in the short-term trend. The S&P 500 is expected to open 0.6% higher on Monday as well. The upcoming week will see key quarterly earnings releases from
The Bank of Japan (BoJ) is preparing to make a pivotal decision on interest rates at its upcoming meeting. With the global economy facing challenges such as inflation and economic uncertainties, the BoJ’s choice will hold significant weight in financial markets worldwide. Speculation has been mounting about a possible rate hike by the BoJ, as
When it comes to making financial decisions, it is crucial to perform thorough due diligence. This involves conducting research, seeking advice from experts, and using your own discretion. The information available on various platforms, including websites, newsletters, and publications, should not be taken at face value. It is imperative to verify the accuracy of the
The USDJPY pair has begun the week with some positivity, but the bulls are facing a challenging battle to gain control. Despite the reversal higher in both the stochastics and RSI indicators, the momentum appears to be lacking strength. The 20-period SMA is acting as a major resistance level, limiting the price’s upward movement. Additionally,
As the Federal Reserve officials gear up for their upcoming meeting, all eyes are on the potential for a rate cut in September. Evercore ISI strategists believe that while the Fed is likely to hold rates steady this time, there could be a signal for a 25 basis point cut at the next meeting. The
The AUD/USD pair is currently on an upward trend, approaching the 0.6552 mark on Monday. This comes after the Australian dollar experienced a 3% fall in the past two weeks, triggered by a global sell-off in risky assets and weak reports from China. Investors are eagerly awaiting the release of Australian inflation data this week,
After a week of ups and downs in the market, stock futures saw a modest rise on Monday. The S&P 500 and Nasdaq experienced declines, while the Dow and Russell 2000 showed gains. This volatility underscores the uncertainty that investors are facing, with tech earnings from Microsoft, Meta, Apple, and Amazon taking center stage this
The article discusses the upcoming central bank meetings of the Federal Reserve, the Bank of England, and the Bank of Japan. It mentions that the Federal Reserve is expected to keep its benchmark interest rate steady at the current range but hints at a possible rate cut in September due to signs of cooling prices.
The New Zealand Dollar (NZD) is currently expected to continue range trading in the near future, with analysts predicting a range between 0.5875 and 0.5920. Despite the possibility of further NZD weakness, analysts point out that severely oversold conditions suggest limited downside potential for the currency. One key level to monitor is 0.5850, according to
The EUR/USD pair recently found support near the 1.0825 zone after a slight correction from the 1.0950 level. The price has managed to clear a bearish trend line resistance at 1.0860, indicating a potential upside movement. The pair tested the 1.0825 support level and remained above the 200 simple moving average on the 4-hour chart.
In a recent independence day speech to Congress, President Dina Boluarte expressed optimism about Peru’s economy, despite facing accusations of corruption and abuse of power. Boluarte took office after the ousting and arrest of predecessor Pedro Castillo in late 2022, following his attempt to dissolve Congress. The economic challenges faced by Peru are significant, with