June 11 2024: Japan is set to maintain its goal of achieving a primary budget surplus in the next fiscal year, according to a draft of the annual policy guidelines for budget planning. The government also intends to continue efforts to reduce the ratio of debt to gross domestic product (GDP), the draft stated. Based on a government projection from January, a primary budget surplus for the world’s fourth-largest economy could “come into sight” in fiscal 2025, provided strong economic growth and continued efforts to cut spending. Japan’s primary budget balance, which excludes new bond sales and debt servicing costs, has…
Author: editor2
June 11 2024: The U.S. dollar pulled back on Tuesday, falling from a one-month high as yields declined ahead of key U.S. inflation data and the Federal Reserve’s policy meeting. At 04:15 ET (08:15 GMT), the Dollar Index, which measures the greenback against a basket of six other currencies, was down 0.3% at 104.795, after hitting 105.39 on Monday, its highest level since May 14. Dollar Retreats Ahead of CPI and Fed Meeting The dollar had been boosted by Friday’s stronger-than-expected jobs report, which was supported by higher Treasury yields as traders reduced expectations for Fed rate cuts this year. However,…
June 11 2024: Oil prices remained stable on Tuesday as investors awaited key U.S. and China CPI data and the outcome of the Federal Reserve’s policy meeting to better understand the future direction of inflation and its impact on fuel demand. By 0817 GMT, Brent crude futures had fallen by 5 cents, or 0.06%, to $81.58 per barrel, while U.S. West Texas Intermediate crude futures slipped by 1 cent, or 0.01%, to $77.73 per barrel. Prices had risen about 3% to a one-week high on Monday, driven by expectations that the Northern Hemisphere summer vacation season would boost fuel demand. However,…
June 11 2024: Bitcoin and Ethereum have been under significant pressure since Friday’s U.S. jobs data, which surpassed expectations and diminished hopes for a Federal Reserve rate cut in September. However, Singapore-based trading firm QCP Capital suggests that the recent price drop, following the U.S. employment report, presents a good buying opportunity. Invest with Investing Pro and join the success in the cryptocurrency world. Take advantage of significant growth opportunities through promising crypto stocks, with an additional discount when subscribing using code SAPRO2. [Click here to subscribe]. Friday’s non-farm payroll data revealed that the U.S. economy added 272,000 jobs in May,…
June 11 2024: Indonesian stocks declined after Tuesday’s close, with significant losses in the Financials, Agriculture, and Basic Industry sectors dragging the market down. At the end of the trading day in Jakarta, the IDX Composite Index fell by 0.41%, marking a new six-month low. Top performers of the session on the IDX Composite Index included Mandala Multifinance Tbk (JK), which soared 1,510.26% or 2,945.00 points, closing at 3,140.00. Meanwhile, Metropolitan Kentjana Tbk (JK) surged 1,185.71% or 24,900.00 points, ending at 27,000.00, and Astra Agro Lestari Tbk (JK) climbed 275.81% or 4,275.00 points, finishing at 5,825.00. On the downside, Bank Artha…
June 10 2024: U.S. stock futures dipped on Monday as investors prepared for a pivotal week highlighted by a Federal Reserve interest rate decision and critical inflation data. Meanwhile, Elliott Investment Management reportedly acquired a stake in Southwest Airlines (NYSE), aiming to drive a turnaround in the low-cost carrier’s performance. Futures LowerU.S. stock futures pointed lower on Monday, with investors eyeing a major Federal Reserve interest rate decision and key monthly inflation data later in the week. By 03:46 ET (07:46 GMT), Dow futures had fallen by 87 points or 0.2%, S&P 500 futures were down 6 points or 0.1%, and…
June 10 2024: On Monday, the euro declined while French bonds and stocks suffered significant losses following President Emmanuel Macron’s unexpected call for a snap parliamentary election. This move came after a heavy defeat by the far-right in a European Union vote. The euro dropped 0.5% to a one-month low of $1.0764 and hit a 21-month low against the sterling at 84.53 pence. French blue-chip stocks fell by 2%, with notable declines in banks such as BNP Paribas and Societe Generale, making the CAC 40 the worst-performing index in Europe. The broader European benchmark, STOXX 600, fell by 0.7%. French government…
June 10 2024: Oil prices edged higher on Monday, supported by hopes for increased fuel demand during the summer. However, gains were limited by a stronger dollar amid diminishing expectations for immediate U.S. interest rate cuts. Goldman Sachs analysts predict Brent crude will rise to $86 per barrel in the third quarter. They cited solid summer transport demand, which they believe will push the oil market into a third-quarter deficit of 1.3 million barrels per day (bpd). As of 0950 GMT, Brent crude futures increased by 16 cents, or 0.2%, to $79.78 per barrel, while U.S. West Texas Intermediate crude futures…
June 10 2024: Bitcoin’s price steadied on Monday following a sharp drop over the weekend, which saw the cryptocurrency retreat from recent highs. The focus is now on upcoming signals regarding U.S. interest rates. Last week, Bitcoin reached as high as $72,000, nearing the record highs achieved in March. However, it experienced significant profit-taking and a dip in value starting on Friday after the dollar rebounded. As of 02:04 ET (06:04 GMT), Bitcoin increased by 0.3% over the past 24 hours, trading at $69,534.4. Bitcoin Steadies with Fed Meeting and CPI Data in FocusBitcoin’s decline over the weekend followed a stronger-than-expected…
June 10 2024: Indian stocks ended lower on Monday, driven down by losses in the Technology, Metals, and Oil & Gas sectors. The Nifty 50 index dropped 0.13% at the close, while the BSE Sensex 30 index fell by 0.27%. Among the top performers on the Nifty 50 were UltraTech Cement Ltd (NS), which surged 3.47% or 363.10 points to 10,826.25. Hero MotoCorp Ltd (NS) gained 2.51% or 140.35 points, closing at 5,722.20, and Cipla Ltd. (NS) increased by 2.47% or 37.00 points to finish at 1,534.25. Conversely, the worst performers were Tech Mahindra Ltd (NS), which declined by 2.70% or…
