In a remarkable rally during Asian session, Japanese stocks surged sharply, with Nikkei index smashing through the 32k mark, reaching a high not seen in 33 years. This surge followed the bullish trend seen in US markets last week, further buoyed by robust services data emanating from Japan and China. However, it’s important to note
Share: The Eurozone Sentix Investor Confidence index keeps falling, arriving at -17.1 in June from -13.1 booked in May vs. -9.2 expected. The Index on the Current Situation fell steeply to -15.8 from -7.0 in May, raising worries over a recession in the Eurozone already underway. The Sentix index for Germany in June fell to the lowest since
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Prior 55.9 Composite PMI 54.0 vs 53.9 prelim Prior 54.9 Little change to the initial estimates as UK services activity continues to keep more robust in May. A strong rise in output and new work is helping to underpin the expansion. S&P Global notes that: “Service sector businesses have experienced strong growth so far in
Gold prices on MCX slipped on Monday as the dollar index strengthened and went above the 104 mark. The uptick in the greenback was on account of strong US payroll data that the Street fears has put the rate pause at the backburner. At 12:30 pm, August gold futures were trading at Rs 59,434 per
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Centralized crypto exchange Gate.io has threatened legal action in response to rumors of imminent bankruptcy. Crypto community members have been speculating since May about a possible connection between Gate.io and the troubled cross-chain protocol Multichain. “Legal proceedings will be initiated against people who cause panic among investors only with rumors and gossip, without relying on
Share: Saudi Arabia’s Energy Minister, Prince Abdulaziz bin Salman, said on Sunday, “Saudi Arabia to make extra 1 mln b/d output cut from July.” Additional comments The Kingdom will extend its 500k barrels per day (b/d) voluntary cut until the end of 2024. Saudis will review extra voluntary cuts every month. Extra voluntary cut is
As we continue to explore the financial landscape of 2023, the spotlight remains firmly on the S&P 500. In this condensed follow-up to our previous analysis, we’ll take a unique approach to predicting this market’s trajectory, focusing specifically on the 4400 key level. Revisiting Our Previous Forecast In our earlier article, we delved into an
The news over the weekend was of oil output cuts: Also related to crude oil were United States and United Kingdom Royal Navy forces activity in the Strait of Hormuz on June 4. An internationally flagged merchant vessel made a radio distress call on Sunday afternoon (local time) while transiting the strait. The crew reported
Gold price jumped Rs 350 to Rs 60,600 per 10 gram in the national capital on Friday amid a rally in precious metals prices overseas, according to HDFC Securities. The yellow metal had closed at Rs 60,250 per 10 gram in the previous trade. Silver also zoomed Rs 650 to Rs 73,550 per kg. “Spot
A Mastercard debit card from U.K. digital bank Monzo. Monzo Monzo on Wednesday said it hit profitability for the first time this year, in a major milestone for one of the U.K.’s most prominent digital banks. In its annual report for the year ending February 2023, Monzo reported net operating income of £214.5 million ($266.1
Share: The EUR/JPY trades for a second consecutive day with gains. Cross ends week with gains, but below 150.00. Yield divergence favours the Euro. The EUR/JPY closes the week trading with gains above 149.80 as the Yen weakened across the board on Friday, against its major rivals, including the Sterling Pound, Swiss, the US and
The AUDUSD made new cycle lows this week, but bottomed midweek and moved higher on Thursday and Friday. The move back to the upside took the pair back into a “red box” that confined price action for 3-months. The break failed. The buyers returned. However, the run to the upside on Friday ran into resistance
Fitch is out with something of an ominous warning on the US credit rating. Fitch Ratings affirmed that the United States’ ‘AAA’ credit rating will remain on a Rating Watch Negative despite the resolution of the debt limit impasse. It was placed on ratings watch on May 24 in a move that prompted some US
Spot gold closed with a weekly gain of nearly 0.10% at $1948.46. The major driving theme of the financial markets, though it emerged late, in the week ending June 2 was a quick shift in notion about the possible monetary policy path of the Federal Reserve. Odds on bets for the Federal Reserve doing a