The GBP/USD pair has been holding above the 1.3100 level, indicating a bullish sentiment in the market. The Relative Strength Index (RSI) is showing that buyers are in control, suggesting further upside potential. The next key resistance level to watch out for is the 1.3200 level. If the pair manages to clear this level, it
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The recent data released by the Labor Department regarding jobless benefits in the United States has shown a decline in new applications, pointing towards a positive trend in the labor market. This decrease in layoffs could potentially allay fears of a deteriorating economy, as it indicates a level of stability in the job market. The
Visa recently announced its plans to introduce a dedicated service for account-to-account (A2A) payments in Europe, with the first launch scheduled for early next year in the U.K. This new service aims to revolutionize the way consumers make payments online by allowing them to set up direct debits with just a few clicks, providing more
The EUR/USD pair has maintained stability around 1.1077, with investors exercising caution ahead of crucial employment data releases from the United States. The upcoming ADP private sector jobs report is the first in line, offering insight into market sentiment before Friday’s Nonfarm Payroll (NFP) report. The market will also closely monitor the weekly unemployment claims
The recent unemployment data has raised concerns among investors, particularly in the US labor market. Arch Capital Chief Global Economist Parker Ross highlighted the spike in unemployment in July, attributing it to temporary layoffs. This has led to uncertainties about the recovery in unemployment for the upcoming August jobs report. Moreover, there doesn’t seem to
The silver price has been on a downward trend for the fourth consecutive day, currently standing at around $27.90 in the early European trading session on Wednesday. This decrease represents a 0.55% drop in value. A stronger demand for the US Dollar and worries about China’s economic activity have been key factors contributing to the
The USD/JPY pair has experienced a slight increase, reaching 145.95 on Wednesday morning. This upward movement signals a rebound from two-week lows, however, it is too early to deem it a significant reversal in the trend given the current economic climate. Market participants are exercising caution as they await the release of crucial US employment
As global markets faced a significant sell-off, the Japanese yen emerged as a safe-haven asset, resulting in a rally in its value. This surge in the yen’s strength was accompanied by a decline in riskier currencies such as the Australian dollar and sterling. The catalyst for this market volatility was attributed to soft U.S. manufacturing
The semiconductor and associated stocks in Asia experienced a decline on Wednesday morning, closely following the steep drop in Nvidia’s share price in the U.S. The U.S. chipmaker Nvidia saw a significant decrease of over 9% in regular trading, causing semiconductor stocks to trend lower amidst a sell-off on Wall Street. This downturn was triggered
China’s property sector struggles and U.S. sanctions have had a significant impact on the rankings of cities in the Milken Institute’s best performing cities China index. Hangzhou, the capital of Zhejiang province and a hub for tech companies like Alibaba, has secured the top spot in this year’s rankings. The city’s success is attributed to
The Japanese Yen has seen an increase in value as the government allocates a significant amount of funds towards energy subsidies. This move is expected to have positive impacts on the economy, potentially stabilizing certain sectors that rely heavily on energy consumption. However, challenges remain as weak Japanese manufacturing data has sparked speculation about the
Gold has been shining bright in the market, with a winning streak that has lasted for seven consecutive months. The precious metal has surged by a remarkable 21% since the beginning of the year, reflecting a bullish sentiment among investors. The question on everyone’s mind now is whether this upward momentum will persist in September