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EurUsd Weekly Outlook for June 05 2023 – Navigating the EurUsd in the Face of Monetary Shifts
Post Debt Ceiling: The Spotlight Shifts to the Federal Reserve Following an agreement, President Biden prevents default by raising the debt ceiling, pushing the issue to January 2025. This defers any risks associated with the 2024 presidential campaign, which markets have largely absorbed with nonchalance. However, the possibility of the first interest rate cut in […]
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Senate Passes Bipartisan Bill to Raise Debt Ceiling and Avert U.S. Default
The Senate passed a bill on Thursday evening, which had previously been approved by the House, to raise the debt ceiling and establish a cap on government spending for a two-year period. The legislation is now on its way to President Joe Biden, and he is expected to sign it on Friday. In his statement […]
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EurUsd Weekly Outlook for May 29, 2023 – With bated breath
The global financial landscape is anxiously monitoring the complex situation surrounding the American debt ceiling. Should there be no increase in this debt limit, the United States would risk default, which could precipitate considerable market volatility and a surge towards safe-haven assets. It’s likely that an agreement will eventually be reached, but potentially not until the eleventh hour. Moreover, the unexpected degree of economic deceleration in Europe is bolstering the strength of the US dollar.
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Stock Market Weekly Summary
The stock market ended the week mixed on Friday, with the S&P 500 closing up 0.27%, the Nasdaq-100 closing up 3.05%, the Dow Jones Industrial Average closing down 0.68%, and the Russell 2000 Index closing down 0.50%. The mixed performance of the major indices suggests that investors are still uncertain about the direction of the […]
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German Economy Slides into Recession Amidst Reduced Consumer Spending
The German economy slid into a technical recession in the first quarter of this year, triggered by a significant decrease in consumer spending. Data from Germany’s Statistics Office, released on Thursday, indicated a 0.3% contraction in GDP (gross domestic product) for the year’s opening quarter, a downturn from the initially reported zero growth. This development […]
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UBS Anticipates $17 Billion Impact from Hasty Credit Suisse Acquisition
UBS, the Swiss banking giant, anticipates a financial setback of approximately $17 billion stemming from its expedited acquisition of Credit Suisse, as indicated in recent SEC filings. The bank’s calculations suggest a $13 billion impact due to alterations in the fair value of the newly merged entity’s assets and liabilities. Additionally, the bank is bracing […]
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13F Reveals: Tech Giants Lead the Pack in Aggregate Market Value
Investors, analysts, and Wall Street enthusiasts have been eagerly anticipating the latest round of 13F filings, and as of today, the wait is finally over. These quarterly reports for March 31, 2023, submitted by institutional investment managers with over $100 million in qualifying assets, provide a treasure trove of insights into the latest moves of […]
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April CPI Rises 4.9%, Below Expectations
Inflation in April rose by 4.9% compared to the same period last year, falling short of the anticipated 5% increase, according to a recent Labor Department report. This occurred despite the Federal Reserve’s ongoing efforts to curb inflation with a series of interest rate hikes. The consumer price index, which gauges the cost of various […]
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ECB Raises Interest Rates to Tackle High Inflation Pressures
The European Central Bank (ECB) has announced a 25 basis point increase in three key interest rates to tackle high inflation pressures. Despite headline inflation declining over recent months, underlying price pressures remain strong, prompting the decision to raise interest rates. The ECB’s Governing Council has pledged to continue using a data-dependent approach to determine […]
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Banking Sector Turmoil Weighs on Wall Street Ahead of Apple Earnings Release
Wall Street experienced declines on Thursday as turmoil in the banking sector dampened investor sentiment ahead of Apple’s highly anticipated quarterly results. The S&P 500 slipped 0.8%, while the Dow Jones Industrial Average and the Nasdaq fell 1% and 0.5%, respectively. Regional banks Western Alliance Bancorporation, First Horizon National Corporation, and PacWest suffered heavy losses […]
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NerdWallet Shares Plummet 22.4% Despite Strong Q1 Earnings Report
Despite reporting strong Q1 2023 earnings, NerdWallet, Inc.’s (Nasdaq: NRDS) stock dropped $9.70, or 22.4%, to $2.80 today, as investors reacted to the company’s financial outlook for Q2 2023. NerdWallet, a leading platform providing financial guidance to consumers and small to mid-sized businesses (SMBs), announced its financial results for the first quarter of 2023, which […]
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Why WIX stock price is down?
As of now, Wix.com’s stock price is trading at $75.50, experiencing a 10.66% drop, which translates to a decrease of $9.01 for today. Benzinga recently reported that a whale, or a large investor with significant funds, has taken a notably bearish stance on Wix.com. This observation is based on the company’s options trading history. Out […]
