El Salvador can follow Singapore’s lead and become a financial center in the Americas, according to Gabor Gurbacs, strategy advisor of investment management firm VanEck. “I say often to portfolio managers and asset allocators that El Salvador has the potential to become the Singapore of the Americas,” Gurbacs explained in an Oct. 28 X post.
Month: October 2023
The EURUSD buyers tried to tilt the technical bias to the upside today with a move above its 200-hour moving average at 1.0580 and it’s 100-hour moving average 1.0589. The price also moved above the 50% midpoint of the move up from the October 13 low at 1.0594. However, momentum above the levels could not
The major US stock indices are closing the day with mixed results, but all are down for the week. A snapshot of the closing level shows: Dow industrial average -366.71 points or -1.12% at 32417.60 S&P index -19.86 points or -0.48% at 4117.36 NASDAQ index rose 47.4 points or 0.38% at 12643.00 For the trading
Global financial markets experienced fluctuations over the past week, influenced by several key factors. These include developments in the Israel-Hamas conflict, mixed corporate earnings reports, and the rollout of economic stimulus measures in China. The US dollar saw a boost from a combination of lackluster corporate earnings, safe-haven demand, and signs of the US economy’s
The European Central Bank headquarters. Daniel Roland | Afp | Getty Images The European Central Bank ended its run of interest rate hikes on Thursday, despite new upside risks to inflation from oil markets amid the Israel-Hamas war. The key rate is set to remain at a record high of 4%, where it was brought
In this article UPS Follow your favorite stocksCREATE FREE ACCOUNT A UPS driver pulls a cart with packages while making deliveries on June 12, 2023 in San Francisco, California. Justin Sullivan | Getty Images Shares of the United Parcel Service closed 6% lower Thursday after the company reported a bigger-than-expected revenue decline and cut its
Share: EUR/JPY trades at 158.06, down 0.48%, as BoJ normalization speculations gain traction. Escalating Middle East conflict bolsters safe-haven assets, including the Japanese Yen. ECB’s decision to hold rates and scaled back positions for further hikes also weighs on EUR/JPY. The Euro (EUR) lost a step against the Japanese Yen (JPY) on Friday, on speculations
The WTI crude oil settles above the August high of $84.85 The price of WTI crude futures is settling at $85.54, up $2.33 or 2.80%. That is above the August high of $84.85 tilting a bias more to the upside. Looking at the daily chart, the low prices this week stalled the fall near the
It’s tough to assess in exactly is happening in Gaza because electricity and communications have been largely cut off but it appears as though Israel’s ground offensive is underway. It came with an overwhelming number of airstrikes and reports of tanks entering in the northeastern corner of Gaza. In any case, it hasn’t expanded into
Gold prices ticked higher and headed for a third consecutive weekly gain on Friday, supported by continued safe-haven demand fuelled by Middle East tensions, while investors awaited the U.S. Federal Reserve policy meeting due next week. Spot gold rose 0.5% to $1,993.69 per ounce by 1:47 p.m. ET (1747 GMT) and gained 0.7% for the
It was a week marked by a series of significant headlines that captured the attention of global investors. Bitcoin led the charge and surged sharply, touching 35k mark, a noteworthy move for the cryptocurrency giant. At the same time, US 10-year yield demonstrated ambition as it flirted with 5% level, but lacked the momentum to
An intensifying bond rout is piling pressure on the global economy and creating a “tremendously dangerous” outlook for equities, the chief investment officer of Livermore Partners hedge fund said Friday. A new era of higher interest rates has caused bond yields to surge, hampering returns for investors and flipping on its head the status quo
In this article CMG Follow your favorite stocksCREATE FREE ACCOUNT Food is served at a Chipotle restaurant on in Chicago, Illinois. Scott Olson | Getty Images Chipotle Mexican Grill on Thursday reported quarterly earnings that beat expectations, helped by higher menu prices for its burritos and bowls. Shares of the company rose more than 2%
Share: Japanese Yen rebounds after Tokyo inflation data increases bets the Bank of Japan (BoJ) will tighten policy. The US Dollar loses traction after US inflation comes out in line with estimates. The USD/JPY remains in uptrend but price falling to key make-or-break trendline for short-term chart. The Japanese Yen (JPY) has climbed against the US
The GBPUSD is trading up and down today, but the move to the upside today stalled near the 100/200 hour MAs near 1.2154 area. Recall, that area stalled the rally on Wednesday as well. The subsequent fall, in the US afternoon session, has taken the price back toward the swing area near 1.2105 and 1.21109.
Markets: Gold up $21 to $2006 US 10-year yields down 1 bps to 4.83% WTI crude oil up $1.93 to $85.15 S&P 500 down 0.5% or 20 points to 4117 Nasdaq up 0.4% JPY leads, CHF lags The cross-currents were deep and violent on Friday. Let’s break them down: 1) The fog of war Early
Oil prices rose around 1% a barrel on Friday as investors priced in fears of an escalation of conflict in the Middle East which could disrupt oil supplies, after reports that the U.S military had struck Iranian targets in Syria. Brent crude futures for December rose 93 cents or roughly 1.1%, to $88.86 a barrel
Markets remained relatively subdued in today’s Asian trading session with Australian Dollar and Canadian Dollar showing modest strength. The pervasive risk-off sentiment that characterized the overnight U.S. stock market selloff did not extend into Asia, as evidenced by recoveries in both Japan’s Nikkei and Hong Kong’s HSI. Japanese Yen, buoyed slightly by robust Tokyo inflation
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