The EURUSD pair rebound to near the psychological resistance of 1.1000 in Friday’s New York session. The major currency pair bounced back as the US Dollar declined with investors gaining confidence that the Federal Reserve will start reducing interest rates from the September meeting. The DXY Dollar Index, which tracks the greenback’s value against six … Read more
West Texas Intermediate (WTI) ended a four-day losing streak, trading around $72.50 per barrel on Wednesday. The benchmark crude oil is getting support from rising concerns about supply constraints due to ongoing geopolitical tensions in the Middle East. Hamas named Yahya Sinwar as its new leader in Gaza following the assassination of former chief Ismail … Read more
Following mixed action in financial markets on Thursday, investors are clinging to a cautious stance on Friday. The US economic docket will feature Personal Consumption Expenditures (PCE) Price Index data for June, the Federal Reserve’s preferred gauge of inflation, alongside Personal Income and Personal Spending figures. Finally, the University of Michigan will release revisions to … Read more
West Texas Intermediate (WTI) extended losses for the third session, trading around $81.50 per barrel in Asian markets on Tuesday. Crude oil prices faced pressure after Hurricane Beryl, which struck a key US oil-producing hub in Texas, caused less damage than anticipated by markets. Despite slowdowns in refining activity and evacuations at production sites, major … Read more
The US Dollar is holding steady early Wednesday, as investors gear up for key macroeconomic events that could significantly impact the currency’s valuation. The Bureau of Labor Statistic will release the Consumer Price Index data for May in early U.S. trading. Later in the day, the Federal Reserve will announce monetary policy decisions and publish … Read more
The EURUSD pair edged higher in early Asian trading on Tuesday and is currently in the 1.0765-1.0770 range, albeit lacking strong follow-through buying. Moreover, the fundamental backdrop and the technical setup warrant some caution before positioning for an extension of the previous day’s modest rebound from the 1.0735-1.0730 region, or a one-month low. The US … Read more
reuters_tickers This content was published on June 6, 2024 – 17:58 ST PETERSBURG (Reuters) – The prospect of raising Russia’s corporate taxes was criticised by officials at last year’s St Petersburg economic forum as a counterproductive move that would suppress investment. This year, those same officials have changed their tune.The government approved tax hikes last … Read more
The global population of high-net-worth individuals (HNWIs) grew by 5.1% to 22.8 million in 2023, with their collective wealth reaching a record .8 trillion. This surge was driven by strong stock market performance, with major indices such as the Nasdaq and S&P 500 experiencing significant gains. North America led the growth in millionaires, surpassing Asia-Pacific and Europe. Discussions about taxing the ultra-wealthy have been reignited, with Brazil and France advocating for a global minimum tax on large fortunes, which could generate an additional 0 billion if implemented.
Silver (XAG/USD) declined below .00 in Tuesday’s European session as the DXY Dollar Index rebounded. The speculation for the Fed reducing interest rates in September has strengthened due to signs of economic slowdown in the US.
Key data releases include the Harmonised Index of Consumer Prices (HICP) from Eurostat, the Personal Consumption Expenditures (PCE) Price Index from the US Bureau of Economic Analysis, and first-quarter Gross Domestic Product (GDP) data from Canada.