The upcoming 2028 Olympics in Los Angeles are expected to be a significant event, following the success of the 2024 Olympics in Paris. Los Angeles Mayor Karen Bass expressed some concerns about the preparation for the Games, specifically highlighting the need to improve the city’s infrastructure to accommodate the influx of visitors. One major area
The recent U.S. presidential debate between Kamala Harris and Donald Trump had a noticeable impact on Asian currencies, with most of them gaining ground as the dollar retreated. One of the biggest beneficiaries of this trend was the Japanese yen, which saw increased safe-haven demand following the debate. The yen reached its strongest level since
JPMorgan Chase, the largest U.S. bank by assets, faced a significant setback on Tuesday when its shares fell by 5%. The decline was triggered by the bank’s president, Daniel Pinto, expressing concerns about the overly optimistic expectations for net interest income in 2025. While the bank expects to meet its 2024 target for NII of
MicroStrategy CEO Michael Saylor has gained notoriety for his bullish stance on Bitcoin. In a recent interview with CNBC, Saylor made a staggering prediction that Bitcoin is on track to reach a valuation of at least $13 million. This audacious statement by Saylor has once again stirred up excitement and debate within the cryptocurrency community.
Citi, a well-known brokerage firm, has recently expressed its perspective on the future of the US dollar. Despite maintaining a bullish stance on the currency for the next one to two months, Citi anticipates a further weakening of the US dollar in the near term. The brokerage firm believes that the current market conditions do
Analyst calls and Wall Street chatter on Tuesday highlighted Bernstein’s bullish stance on GE Aerospace. The firm initiated coverage on GE Aerospace with an outperform rating, citing several upside opportunities. Despite acknowledging that the aviation company is “not cheap,” analyst Douglas Harned emphasized its unique position for growth. With a target price of $201 per
UBS’s recent advice to investors to sell any potential short-term gains in the US dollar reveals a growing bearish sentiment towards the currency. The firm’s analysis suggests that a corrective rebound may occur in September, especially if the Federal Reserve’s cautious approach to interest rate cuts persists. This trend aligns with historical data that shows
Bitcoin’s price showed signs of recovery on Tuesday, following steep losses from the previous week. The rebound was attributed to bargain buyers entering the cryptocurrency markets, seeking to take advantage of the lower prices. However, the upward momentum was curtailed by uncertainties surrounding key U.S. inflation data set to be released later in the week.
The currency markets in Asia have seen little movement on Tuesday as investors remain cautiously optimistic amidst a backdrop of global economic uncertainty. Regional currencies have been grappling with losses over the past week, dampening risk appetite. However, hopes of potential U.S. interest rate cuts have provided some support, limiting overall losses in the currency
The price of Dogecoin is finally starting to show signs of recovery after weeks of uncertainty. With DOGE currently trading at $0.10, it is slowly approaching the significant milestone of the second zero in the decimal point. This price increase of almost 2% in the past day comes after the cryptocurrency rose off support levels