Wall Street experienced a surge on Friday, with the Dow reaching a second consecutive all-time closing high. This increase was fueled by positive economic data, leading to expectations of a modest cut in interest rates by the Federal Reserve in September. U.S. consumer spending showed solid growth in July, indicating a strong economy with moderate
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Warren Buffett, one of the most successful investors of all time, celebrated his 94th birthday with Berkshire Hathaway reaching a $1 trillion market capitalization for the first time. Howard Marks, a close friend of Buffett’s, attributes his unparalleled success to a combination of well-thought-out strategy, discipline, consistency, and unusual insight. Marks emphasizes that without the
Gold prices have maintained a strong stance, hovering near record highs and showing resilience in the face of market uncertainties. The metal’s value has been propped up by a combination of factors such as high demand as a safe haven asset, significant purchases by central banks, geopolitical tensions, and the anticipation of the Federal Reserve’s
The EUR/USD pair is currently trading near 1.1080 in Friday’s early Asian session. This comes after the US GDP expanded more than expected in Q2, leading to a positive impact on the US Dollar. Meanwhile, cooling inflation from Germany and Spain is supporting the case for an ECB rate cut in September, which could potentially
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China’s recent actions in opening various trade investigations have raised tensions with the European Union. These investigations cover a wide range of industries, from dairy to pork, brandy, and plastic. The move has implications not only for the industries under investigation but also for international trade relations as a whole. The anti-subsidy investigation into imported
The EUR/USD pair has experienced a pullback from its recent highs, facing strong resistance at the 1.12000 level. After two failed attempts to break above this level, the price has corrected to 1.1100, where it found support. Currently, the pair is trading in a range-bound pattern between 1.1200-1.1090. If the price manages to break and
The recent announcement that U.S. President Joe Biden and Chinese President Xi Jinping are scheduled to have a phone call in the “coming weeks” signifies a potential shift in U.S.-China relations. This dialogue comes at a crucial time, as tensions between the two nations have been heightened in recent years. The White House’s decision to
In the early Asian session on Thursday, the NZD/USD pair gained momentum, reaching the highest level since January 4. This uptick in the New Zealand Dollar was attributed to a surge in business confidence in New Zealand. According to the ANZ Business Outlook Survey, business confidence rose to its highest level in a decade, with
The Indian Rupee (INR) has been facing pressure in early Asian trading on Wednesday due to the weakening in Asian currencies and increased demand for USD by importers. Investors are closely monitoring the speeches by the Federal Reserve’s Christopher Waller and Raphael Bostic for potential market-moving insights. On the domestic front, positive market sentiment and
The recent focus on the size of the anticipated U.S. interest rate cut next month has left the U.S. dollar trading near its lowest level in over a year against a basket of currencies. This comes as investors closely monitor clues regarding the Federal Reserve’s next move. It is widely expected that there will be