Gold’s $4000 p/oz historic milestone
The precious metal continues to power through ceilings and climb higher and higher as investors flee enmasse towards safety amid geopolitical, economic and policy uncertainties. The bullion has surpassed the $4000 per troy ounce historic level in today’s early trading hours and its year-to-date gain exceeded 50%. Political instability in France, leadership change in Japan, […]
AMD soars after Open AI deal
Advanced Micro Devices, a prominent US chipmaker, has announced a multiyear agreement with the ChatGPT-maker and the prodigal child of the AI race, Open AI, to supply 6 gigawatts (GW) of compute power, in an infrastructure project that could generate tens of billions of dollars and benefit tremendously the entire AI ecosystem. The strategic partnership […]
Week Ahead Schedule
Since there are scarcity economic news releases during today’s session, we decided to outline the most important releases for this week: Tuesday: We kick off the week with the United States trade balance for August, EIA’s short term energy outlook report and Canada’s Ivey PMI for September. Wednesday: In the early hours of the Asian […]
Tesla deliveries beat estimates as EV tax credit expirations loom
The EV giant Tesla reported a record-breaking quarter in terms of deliveries, an event that sparked widespread optimism in the investment community, with analysts upwardly revising their targets on hopes of capacity expansion. The automaker delivered 497k vehicles in its third quarter, significantly exceeding Wall Street’s estimates of 454k units, amounting to a 7% increase […]
US plans stakes in Australian miners to counter China’s supply chains
The US administration is reportedly pondering to take equity stakes in Australia’s largest miners according to a report in efforts to minimize the influence of its most prominent rival, China, and remain competitive in the race for global superiority. Washington noted that the move aims to create alternative supply chains, after China, the top producer […]
Earnings turnaround story lifts Nike higher
The sports apparel giant, Nike, just did it with its latest earnings call and outperformed Wall Street analysts’ forecasts, possibly signalling the return of the world-renowned sports brand, back to its former glory days. Shares rose by over 4% in the aftermarket hours signalling investors’ optimisms, as Nike toppled both the EPS and Revenue targets […]
The plan to end the war in Gaza
Headlines for the 20-point peace plan for the war in Gaza flooded market feeds earlier today, after President Trump met with Binyamin Netanyahu, the PM of Israel, and discussed the future of Palestine, after almost two years of extensive bloodshed. The first stage of the plan entails, the release of all, 48, Israeli hostages that […]
Dollar returns to weakness after stagflation confirmation
After a brief period of gains, the greenback reversed course and returned to its characteristic devaluation path, as the latest Core PCE print, the Federal Reserve’s preferred gauge of inflation, showcased no material change and hinted that the US economy is indeed experiencing a stagflationary cycle. Price pressures were unchanged in the month of August, […]
US PCE update edging closer
The main attraction of today’s session is the Fed’s preferred gauge of inflationary pressures, the Core PCE index, for the month August whose results will have a direct impact on the Federal Reserve’s impending rate decisions in the remaining two meetings of 2025. According to forecasts, year on year Core PCE reading is seen at […]
Hybrid and EV car sales thrive in Europe
The latest year-on-year data from the New Passenger Car Registrations indicator showcased that in the month of August, hybrid and battery electric vehicles(BEVs) far outperformed sales of traditional, petrol and diesel vehicles, showcasing that a shift in consumers behaviour may have occurred. Petrol car sales fell by -16%, diesel by -18% whereas, sales of hybrid […]
The bullion’s unstoppable rise to new heights
Investors continue to relentlessly allocate capital into the safe haven commodity, fuelling its ascent to fresh record highs week after week, as a confluence of bullish catalysts supercharges their conviction. The precious metal has recorded an impressive 40% gain year to date, its strongest gain performance since 1979 and analysts have upwardly revised their end […]
Eurozone flashes signs of life
Euro traders rejoiced earlier today after manufacturing and services updates from the bloc showcased a possible end of the long-lasting tarnishing trend and signalled that brighter days may lie ahead. Services activity appears to be at the early stages of escaping long periods of stagnation or mild contraction and instead return to expansion, as the […]
PBOC maintains cautious stance despite weak domestic activity
The People’s Bank of China opted to stand pat for a fourth consecutive meeting and kept both of its loan prime rates intact near historical levels, in line with market expectations, avoiding additional stimulus injections albeit the persistent slacking of domestic consumption and loss of economic momentum. The 1-year loan prime rate, a proxy for […]
BoJ surprises with ETF and REIT sale announcement
The Bank of Japan kept its policy rate intact at the 0.5% level at its September meeting, in line with broader market expectations, but surprised the markets by announcing that it will begin unwinding its ETF and REIT holdings portfolio, in a step to further normalize its monetary policy practices. Albeit keeping rates at their […]
Bank of England up next for a decision
After markets digested the Federal Reserve’s rate decision, the speech of Fed Chair Powel and the renewed projections of the FOMC committee for the foreseeable future, now attention is expected to shift, cross the Atlantic and fixate upon the respective policy decision from the Bank of England. BoE has slashed rates multiple times this year, […]
All about the Fed
Without a shadow of a doubt, the main attraction of today’s session is the Federal Reserve’s rate decision for the September meeting and albeit money markets almost fully pricing in a 25bps cut, a small minority bets that a jumbo 50bps cut could also be on the table. Even though inflationary pressures remain above the […]
Strength of US consumer gets an update
The highlight for investors during today’s session is the US retail sales update which will showcase how consumer spending trends evolved in the month of August. So far retail spending activity has been robust, albeit a few short-lived hiccups, indicating that despite the Fed’s tightening efforts to constrict inflationary pressures, the US consumer remains resilient […]
Week Ahead Schedule
Since there are scarcity economic news releases during today’s session, apart from President Lagarde’s speech, we decided to outline the most important releases for this week: Tuesday: We kick off the week with Eurozone’s ZEW economic sentiment indicator for September and industrial production rates for July, from Canada we note the latest CPI print and […]
US labour market concerns overshadow rekindled price pressures
Yesterday, markets put aside the modest reignition of inflationary pressures and instead diverted their attention onto the latest weekly initial jobless claims figure, that showcased a surprise rise to levels last observed before in October of 2021. According to the latest CPI print for the month of August, price pressures saw an increase of 0.2% […]
Euro parked at 4-year highs ahead of ECB’s decision
In a week’s time, Federal Reserve officials will convene for their September meeting and will most likely lower policy rates for the first time in 2025 by 25bps. Today, ECB policymakers will likewise convene but it is rather unlikely that they will vote to lower rates, but are rather expected to keep them intact for […]