Wed, July 24, 2024

Middle East

IMF Forecasts 3.2% Global Growth in 2024

Quick Look:  IMF revises the 2024 global growth forecast by 0.1%, maintaining a stable outlook amidst global challenges. Advanced economies like the US and the Eurozone show positive indicators, surpassing pre-COVID levels. Geopolitical tensions, inflation risks, and differing central bank approaches threaten forecasted growth despite potential economic drivers. The IMF emphasizes urgent reforms for sustained …

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Five superpowers ruling the world

2023/24 Global Economy: 3% Growth Amidst Conflict

Quick Look: Global Growth Projections: IMF predicts growth of 3% in 2023 and 2.9% in 2024. Geopolitical Tensions: Ongoing conflict in the Middle East escalates oil prices. Inflation Concerns: High inflation rates prompt fears of continued tight monetary policy. Energy Sector Outlook: Predictions of oil prices reaching $100 per barrel. BP’s Strategic Moves: BP aims …

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AUD/USD - The Greenback: US dollar and Australian dollar banknotes.

AUD/USD Hits 2024 Low; Key Support at 0.6443

Quick Look: AUD/USD hits 2024 lows, finding support at 0.6443, with eyes on further drops. Central banks’ moves and economic policies in the US and China drive the currency trends. US retail sales and Chinese economic reports, including Q1 GDP, shape market sentiment. Bearish patterns dominate the pair, suggesting potential continued declines. The Australian Dollar …

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Wibest – Japan Yen: Japanese yen bills. USD/JPY

USD/JPY Faces Volatility: Intervention & Global Risks Loom

Quick Look: Intervention threats, BoJ policy hints, and global tensions drive USD/JPY volatility. Speculation grows with Yen surpassing the 153 mark, hinting at potential Japanese intervention. Technical indicators suggest a bullish USD/JPY trend, but BoJ intervention remains a caution. Short-term outlook focuses on US data, FOMC speeches, and possible Japanese intervention effects. The USD/JPY pair …

USD/JPY Faces Volatility: Intervention & Global Risks Loom Read More »

Stocks on Wednesday

Earnings Week Beckons: Dow Unchanged, S&P, Nasdaq Diverge

Quick Look: Dow Jones futures remain stable, while S&P 500 futures dip and Nasdaq futures rise, indicating mixed market sentiment. Upcoming earnings reports from major banks and companies like Delta Air Lines spotlight corporate health amidst economic uncertainty. This week’s economic events and inflation data are critical for the Federal Reserve’s interest rate decisions. The …

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gasoline

Gasoline Prices Up 0.5%: Geopolitical Tensions Stir Markets

Quick Look: WTI crude is up by 0.3% to $85.43, and Brent crude is up by 0.5% to $89.35 amid global tensions. May gasoline + +0.1%, heating oil + +0.8%, natural gas + +1.1%. Crude inventory +3.2M barrels; gasoline inventory -4.3M barrels. Tehran vows retaliation; Ukrainian attacks impact Russian refining. In the latest commodities market …

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Washington: Japanese yen and Swiss franc bills and a calculator.

Japanese Yen: Key Forecasts Amid Market Shifts

Quick Look: The Japanese Yen to Dollar is under scrutiny due to economic indicators and Fed commentary. GBP/JPY struggles below 190.50, influenced by Japanese verbal interventions, geopolitical tensions, and the BoE’s dovish stance. For the Japanese Yen, bullish signals show potential for an upside. Geopolitical factors sway GBP/JPY’s direction.  USD/JPY movement hinges on PMIs, BoJ/Fed …

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Military AI

Pentagon: $6B AI Drones Revolutionize Global Military

Quick Look: Europe witnesses a surge in AI startups, escalating the battle for technical talent among giants like Google DeepMind. CCA project allocates $6 billion to integrate AI drones with human-piloted jets, with Boeing and Lockheed Martin getting ready for production. Historical use of drones like Reaper and Predator has led to innovative entries such …

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Broker News, asml, marathon

ZaraFX Secures $2M Series A Funding, Appoints COO & CFO

ZaraFX, a leading CFD Forex brokerage, recently closed its Series A funding round, securing over $2 million in investments. This financial influx marks a significant turning point in ZaraFX’s journey of expansion and advancement. Additionally, the company is excited to announce the opening of its newest office located in Dubai. Boosting Operational Capacity Through $2M …

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Wibest – Franc: Swiss franc coins (CHF)

Sideways USD/CHF Near 0.8800 Amid Rate Hesitancy

Quick Look USD/CHF trades sideways near 0.8800, showing slight gains in the early European session. FOMC minutes reveal hesitancy to cut rates hastily, preferring to await more economic data. Swiss National Bank (SNB) President hints at possible rate cuts, contingent on upcoming inflation data. Geopolitical tensions in the Middle East impact safe-haven currencies, including the …

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Joe Biden and his economic plan

U.S. Economy Grows: 2% GDP & Key Market Surges

Quick Look The S&P Global composite index indicates a slight economic expansion in February, with manufacturing output at a ten-month high. GDP growth is projected at 2% annually, signalling continued economic expansion. Fed officials highlight optimism and caution, pointing to geopolitical risks and inflation concerns. Mortgage rates have reached a new high since mid-December, potentially …

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Oil and gold industries

Commodities: Gold and Oil Amidst Rate and Tension Dynamics

Quick Overview Gold’s value remains above $2,000/oz amid anticipation of the Federal Reserve’s interest rate decisions. A decrease in gold ETF holdings by 1 million oz suggests waning expectations for imminent rate reductions. Crude oil prices stay steady, with a cautious eye on developments in the Middle East. Notable declines in Indian imports of crude …

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