The recent data on the Australian labor market shows that the unemployment rate is currently at its highest since November 2021. The rise in unemployment is attributed to an increase in the labor supply, which may not be as concerning as a rise in unemployment due to job losses. According to AMP’s Head of Investment
Mahanadhi
GBPUSD has recently broken above the previous peak on 7.14.2023 high at 1.3143, indicating a higher high bullish sequence from the 9.26.2022 low. This breakout clearly identifies the right side and direction of the pair, which is higher. The rally from the 4.22.2024 low is currently ongoing, forming a 5 waves impulse Elliott Wave structure.
Recent statements from both the Bank of Japan (BOJ) and the US Federal Reserve have played a significant role in the recent strengthening of the Japanese yen. Governor Kazuo Ueda of the BOJ hinted at a potential adjustment of monetary policy in line with economic trends, raising speculation of a future interest rate hike. This
In recent news, the Canada Industrial Relations Board has ordered a halt to work stoppages at the country’s largest railways, Canadian National Railway (CNR) and Canadian Pacific (CPKC) Kansas City, to put an end to the unprecedented service disruption. This decision comes after Canada requested the intervention of the labor tribunal to resolve an impasse
Pavel Durov, the billionaire founder and CEO of the Telegram messaging app, was reportedly arrested at the Bourget airport outside Paris. The investigation that led to his arrest was said to be focused on a lack of moderators on Telegram, which allowed criminal activity to thrive on the platform. These allegations have raised concerns about
Wall Street saw a significant uptick on Friday as the benchmark S&P 500 index edged closer to a record high. The surge in stock indexes followed Federal Reserve Chair Jerome Powell’s remarks at the annual economic conference in Jackson Hole. Powell’s endorsement of imminent policy easing citing risks in the job market and inflation nearing
The AUD/USD pair recently experienced a drop, moving down to 0.6950 due to a recovery in the USD. This adjustment comes after a strong uptrend that saw the pair gaining around 2% in previous sessions. The narrative of monetary policy divergence between the Federal Reserve (Fed) and the Reserve Bank of Australia (RBA) has been
The USD/JPY pair faced challenges in capitalizing on its slight upward movement during the Asian session, failing to maintain momentum towards the 148.00 mark. Currently hovering just below the mid-147.00s, the pair is at risk of continuing its retracement from the recent two-week high. One of the key factors hindering significant gains for the USD/JPY
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 escalation of geopolitical tensions in the Middle East has contributed to the relatively stable yet mild gains in the price of West Texas Intermediate (WTI) crude oil. The assassination of Hamas leader Ismail Haniyeh in Tehran, with fingers pointing towards Israel, has sparked concerns over potential supply risks in the region. Despite ongoing
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 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,