The recent appointment of Alan Taylor to the Bank of England’s Monetary Policy Committee has sparked interest in the financial world. With a background in international economics and financial crises, Taylor brings a wealth of knowledge and experience to the committee. Born in Wakefield, England, Taylor studied at the University of Cambridge before going on
The recent market trends in the U.S. have shown signs of recovery, with stocks ending higher on Friday and extending their biggest weekly gains of the year. This positive momentum comes as worries of an economic downturn have eased, leading investors to shift their focus to the upcoming Jackson Hole Economic Symposium. The S&P 500
The price of silver, denominated as XAG/USD, experienced a decline on Friday, as reported by FXStreet data. Currently, silver is trading at $28.24 per troy ounce, marking a 0.41% decrease from the $28.36 price point observed on Thursday. Despite this recent dip, silver prices have managed to increase by a significant 18.70% since the beginning
Crude oil prices have been struggling to break through the $80.00 resistance zone, facing hurdles even after a brief spike above this level. The 4-hour chart of XTI/USD shows a downward trend after reaching a high of $80.26, trading below $78.80 and $78.00. The price is currently testing the 100 simple moving average, signaling a
In a bold move to disrupt the traditional retail banking industry, financial technology firm Klarna is introducing new products aimed at revolutionizing the way consumers manage their finances. With the launch of a checking account-like product and a cashback offering, Klarna is looking to cement its position as a one-stop-shop for all consumer spending and
In July 2024, for the first time in over three years, inflation in the United States dipped below 3%. This drop signified a shift in the economic landscape, with some sectors experiencing deflation rather than just disinflation. While the overall economy is still seeing prices rise, albeit at a slower pace, certain areas such as
Warren Buffett, known as the “Oracle of Omaha,” made headlines recently as it was revealed that he now owns the exact same number of shares of Apple as he does of Coca-Cola. This interesting observation came to light after a regulatory filing showed that Berkshire Hathaway’s equity holdings at the end of the second quarter
The market sentiment seems to have shifted towards growth-related macro data rather than inflation risk. This change in focus could be attributed to the fear of a US recession or a hard-landing scenario, leading investors to prioritize economic growth indicators over inflation trends. The recent softer US retail sales data may exacerbate these concerns and
The article begins with the mention of gold prices rebounding after a post-CPI selloff, which pushed the metal down to around $2438/oz. The unexpected nature of this selloff is highlighted, as US CPI figures were below expectations. This raises questions about the market dynamics and investor sentiment towards gold prices. It is important to delve
The AUD/JPY cross has gained momentum near 97.55 in Thursday’s Asian session, registering a 0.36% increase on the day. This increase can be attributed to the positive impact of the Chinese July Retail Sales data on the Australian Dollar (AUD). Chinese Retail Sales rose by 2.7% year-over-year in July, surpassing market expectations and providing support
The US Retail Sales data has a significant impact on the market trends, especially on the USD/JPY pair. With the recent US CPI Report highlighting a bounce back in core services inflation, it has shifted the focus to the US labor market data and the overall US economy. This shift in focus has implications for
The Asian stocks were firm on Thursday, taking their lead from gains on Wall Street. Japan’s Nikkei rose 0.5%, while Australia’s stock benchmark was up 0.1%. Mainland Chinese blue chips also added 0.4%, however, Hong Kong’s Hang Seng slipped 0.3%. U.S. S&P 500 futures indicated a 0.1% increase after the cash index advanced 0.4% on