Oct 22, 2024
Jeremy Parkinson
Finance, No picture
The AUD/USD pair rebounds strongly from the key support of 0.6650 in Tuesday’s European session. The Aussie pair discovers strong buying interest on expectations that the Reserve Bank of Australia (RBA) will continue with a restrictive monetary policy stance for the remainder of the year.On Monday, RBA Deputy Governor Andrew Hauser cited the strong employment data as a […]
Oct 22, 2024
Jeremy Parkinson
Finance, No picture
Image Source: Unsplash McDonald’s, known for its resilience through economic cycles, faces a challenging outlook for 2025, according to its CEO, Chris Kempczinski. With consumer wallets likely to remain stretched, particularly among lower-income customers, the company is focusing on strengthening its value proposition to maintain its market position. This includes offering more affordable meal deals, emphasizing […]
Oct 22, 2024
Jeremy Parkinson
Finance, No picture
On-chain data shows a Bitcoin signal that has led to at least a 70% rally the last four times has recently formed for the asset once again. Bitcoin MVRV Momentum Has Seen A Bullish Crossover RecentlyIn a new post on X, analyst Ali Martinez has discussed the recent trend in the Bitcoin Market Value to Realized Value (MVRV) […]
Oct 22, 2024
Jeremy Parkinson
Finance, No picture
The U.S. national debt is a truly large number. With the nation’s total public debt outstanding of $35,464,673,929,171.69 as of the end of its fiscal year on 30 September 2024, the U.S. government is truly indebted to its major creditors.During FY 2024, the U.S. national debt increased by $2.3 billion, or 6.9%, to reach that number. The […]
Oct 22, 2024
Jeremy Parkinson
Finance, No picture
USD/CHF offers its gains from the previous session, trading around 0.8650 during the early European hours on Tuesday. This downside of the pair could be limited as the US Dollar (USD) gained support following a surge in US Treasury yields, which climbed over 2% on Monday. At the time of writing, the 2-year and 10-year US Treasury […]
Oct 22, 2024
Jeremy Parkinson
Finance, No picture
Image Source: Pexels While we had expected third-quarter GDP growth to moderate below 3% year-on-year, from 3.2% in the second quarter, the decline in retail sales in September points to an even weaker economic performance. We revise our third quarter GDP growth forecast to 2.5%YoY (from 2.8%) and see downside risks to the 2024 economic growth […]
Oct 22, 2024
Jeremy Parkinson
Finance, No picture
Image Source: Unsplash Oil prices ease on Tuesday as possible ceasefire talks in the Middle East dampen sentiments. Focus remain on oil demand in China even as the country tries to decarbonize its economy. Middle East conflict has led to no disruption of crude oil from the region so far. Crude oil prices eased Tuesday […]
Oct 22, 2024
Jeremy Parkinson
Finance, No picture
Image Source: Unsplash General Motors Co. (NYSE: GM) has reported a robust financial performance for the third quarter of 2024, showcasing significant growth in key financial metrics. The company announced a revenue of $48.8 billion, marking a 10.5% increase compared to the same period last year when the revenue was $44.1 billion. This growth can be attributed […]
Oct 22, 2024
Jeremy Parkinson
Finance, No picture
Image Source: Pexels Two major labor unions, the Dock Workers Union and the Boeing Machinists Union, have attempted to reach an agreement with their employers on a contract. The dock workers agreement proposes an average 8.5% per year wage increase over six years, and the Boeing Machinists Union’s proposal is for an average 7.5% wage increase […]
Oct 22, 2024
Jeremy Parkinson
Finance, No picture
The USD/CAD pair consolidates in a tight range above the round-level support of 1.3800 in Tuesday’s European session. The Loonie pair trades back and forth, with investors focusing on the Bank of Canada’s (BoC) interest rate decision, which will be announced on Wednesday.The BoC is expected to reduce its key borrowing rates by 50 basis points (bps) to 3.75%. This […]