U.S. stock index futures rose on Wednesday, with investors focusing on Federal Reserve Chairman Jerome Powell’s upcoming speech, hoping for additional signals regarding interest rate policies. Wall Street indexes traded within narrow ranges on Tuesday, starting the new month on a subdued note. This followed strong gains earlier in November, spurred by optimism after Donald […]
Dollar Rallies, Euro Falls Ahead of France’s No-Confidence Vote
The U.S. dollar rose on Wednesday, while the euro retreated ahead of a no-confidence vote in France later in the day, which could topple the fragile coalition government. The Dollar Index, which tracks the greenback against a basket of six other currencies, was up 0.1% at 106.465. Dollar Continues to Attract Attention The dollar remained […]
Daily Technical Analysis EUR/USD: Continued Downward Trajectory
The EUR/USD pair continued its decline on Tuesday, struggling against the 1.0500 level, as momentum for an upward push toward 1.0600 seems to be fading. While several EU-focused data releases are scheduled for today, most investors remain fixated on the upcoming U.S. Non-Farm Payrolls (NFP) employment data, due later this week. Erosion of Investor Confidence […]
Trump Could Pick New SEC Chairman “As Fast as Tomorrow”
Paul Atkins is currently the leading candidate, with about a 70% chance of being nominated as the next SEC chairman. Incoming President Donald Trump’s transition team is reportedly considering several candidates for the role of SEC chairman and could announce its decision “as soon as tomorrow,” according to FOX Business reporter Eleanor Terrett, citing sources […]
Today’s Stocks to Watch: Tesla, Super Micro, and U.S. Steel
Key Points To Watch Out For: Tesla (TSLA): Legal Uncertainty Over Executive Compensation Elon Musk faces renewed legal challenges over his multibillion-dollar pay plan, which has created uncertainty about how Tesla will navigate this situation. Tesla shares have fallen by more than 1% in pre-market trading, reflecting investor concerns. The ruling could significantly affect Tesla’s […]
The Fed and Interest Rates: In Everyone’s Sights
U.S. futures showed minimal movement on Tuesday morning, following record highs for the S&P 500 and the Nasdaq in the previous session. The Dow Jones closed the day down by more than 100 points (approximately 0.3%). Meanwhile, S&P 500 futures stabilized at 6,059.50 points, while Nasdaq 100 futures dipped 0.1% to 21,192.50 points. Dow Jones […]
Euro Normalizes Amid French Instability Concerns
The euro rose on Tuesday, recovering some ground after political turmoil in France prompted traders to hedge against further price volatility. Meanwhile, the Chinese yuan dropped to a 13-month low due to tariff risks and economic weakness in China. The yen, which gained approximately 4.5% over the past two weeks, retreated slightly against the dollar […]
Outlook for the Week of December 2 – 6
Key Points to Watch Out For: NFP and ISM PMIs to Influence Fed Projections The U.S. dollar softened last week, retreating slightly after being temporarily boosted by President-elect Donald Trump’s tariff threats against China, Canada, and Mexico. Traders appeared to unwind Trump-related long positions ahead of Thanksgiving and in anticipation of this week’s major data […]
XRP Overtakes USDT, Becomes the 3rd Largest Cryptocurrency
XRP, the cryptocurrency closely associated with Ripple, has surged in market capitalization, achieving a meteoric rise to multi-year highs in its price. XRP has climbed to become the world’s third-largest cryptocurrency, surpassing Tether (USDT). This comes on the back of a more than 20% increase in the past 24 hours, pushing its market capitalization to […]
Today’s Stocks to Watch: Stellantis and Volkswagen
Key Points To Watch Out For: Stellantis (STLA): Stocks Fall on CEO’s Resignation Stellantis, the automotive group behind brands like Chrysler and Jeep, saw its stock plummet by over 8% in Milan following the unexpected resignation of CEO Carlos Tavares. This sudden leadership change has raised concerns among investors about the company’s future direction. Adding […]