The recent U.S. economic data has had a significant impact on Wall Street stocks, leading to a rise in stock prices and the Dow scoring a second consecutive all-time closing high. This positive trend was fueled by findings that U.S. consumer spending increased solidly in July, indicating a strong economy with moderate price rises. As
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Warren Buffett, at 94 years old, has defied all odds and led Berkshire Hathaway to new heights. His strategic brilliance, which has been executed with discipline, consistency, and unusual insight, has been credited for the success of his conglomerate. Howard Marks, a prominent investor and friend of Buffett, emphasized that it is not only the
Gold has been holding a firm tone, remaining near its new all-time high as it awaits the release of the US PCE data. The metal’s strong position is attributed to factors such as strong demand, geopolitical tensions, and expectations for the Fed’s first rate cut in September. With a gain of approximately 22% since the
The EUR/USD pair trades stronger near 1.1080 in Friday’s early Asian session after snapping a two-day losing streak. The recovery comes as US GDP expanded more than expected in Q2, with the growth rate rising at an annual rate of 3.0%. This second estimate released by the Department of Commerce surpassed both the forecast and
China has recently escalated tensions with the European Union by opening an anti-subsidy probe into imported dairy products. This move comes shortly after Brussels released a revised draft decision regarding tariffs on electric vehicles made in China. Let’s take a closer look at the various industries that are currently under investigation by China. DAIRY Industry
The euro has faced strong resistance at the 1.12000 level, leading to a correction down to 1.1100. This level has previously acted as support for the pair, creating a range-bound trading pattern between 1.1200-1.1090. The upcoming trading sessions hold the potential for different scenarios based on key technical and fundamental factors. If the price breaks
In the early Asian trading session on Thursday, the NZD/USD pair showed a significant increase, reaching 0.6280 – the highest level since January. This surge in the New Zealand Dollar was primarily driven by the results of the recent ANZ Business Outlook survey. The Business confidence in New Zealand soared to the highest level in