EUR/USD drops below 1.13 as robust US data weakens Eurozone PMIs
While ECB officials expressed cautious optimism, the euro was affected by a weaker-than-expected EU PMI. The US PMI exceeded predictions, demonstrating economic resilience and bolstering the dollar. Trump’s budget advances in the House, further lifting the US dollar amid fiscal momentum. In the currency market, the EUR/USD pair was impacted by the release of better-than-expected […]
EasyJet stock drops almost 5% as first-half losses increase.
UBS Officials Express Strong Momentum in Diversifying from the US Dollar In light of ongoing market volatility influenced by the White House’s protectionist trade approach, some investors are looking to move away from the US dollar, according to UBS. Iqbal Khan, President of UBS Asia-Pacific, shared this sentiment during a conversation with CNBC’s Martin Son. […]
USDJPY drops beneath crucial support, approaches Fibonacci retracement area
USDJPY Technical Update USDJPY has seen a significant decline today, breaking decisively below key levels. The moving average of 200 bars on the 4-hour chart, now around 144.86, has remained unbroken throughout the US trading session. This marks a notable shift in short-term momentum, as sellers gain a stronger foothold. The decrease became more pronounced […]
DOJ drops notable civil rights lawsuits from the Biden administration against police departments in Louisville and Minneapolis
On Wednesday, the Justice Department announced the dismissal of lawsuits from the Biden administration against police departments in Louisville and Minneapolis. Additionally, it is in the process of reconsidering various ongoing investigations into other police forces, seeking to clarify and streamline previous actions. At a press conference, Attorney General Hermeet Dillon stated that the decision […]
Justice Department drops case against Southwest Airlines over ongoing flight delays.
Southwest Airlines Lawsuit Dropped by Trump Administration The Trump administration has decided to halt lawsuits that were targeting Southwest Airlines over persistent flight delays. In March, discussions between the airline and the Department of Justice (DOJ), which was under President Trump, were reported by Reuters. These talks were concerning a case initiated by the Department […]
Russian Economic Growth Drops Significantly After Trump’s Inauguration
On Friday, Rosstat, Russia’s state statistics agency, disclosed that GDP growth for the first quarter was a mere 1.4%. This marks a significant drop from 4.5% growth in the final quarter of 2024. The finalized numbers fell short of even adjusted expectations, with Russian officials and analysts aiming for around 1.7%. Many outside economists believe […]
Alibaba (BABA) Stock Drops 5% as U.S. Investigates Apple AI Agreement
Alibaba’s Stock Drops Amid US Concerns Alibaba’s shares listed in Hong Kong fell about 5% during Monday’s early trading, hitting the Hang Seng China Enterprises Index hard after US officials raised alarms about a partnership with Apple. The White House has expressed concerns that this deal might enhance China’s AI capabilities, subject Apple to stricter […]
US Dollar Index drops below 100.50 after Moody’s downgrade of US credit rating
The US Dollar Index is under pressure following a credit rating downgrade by Moody’s. Moody’s anticipates that US federal debt could rise to about 134% of GDP by 2035, up from 98% in 2023. US Treasury Secretary remarked that Trump intends to impose tariffs on trading partners who have not negotiated in “good faith.” The […]
Basel Medical stock drops 15% due to $1B Bitcoin acquisition plans
Basel Medical Group’s Stock Takes a Hit Shares of Basel Medical Group have dropped approximately 15% following the announcement of the company’s intent to purchase $1 billion in Bitcoin for its Corporate Treasury Department. On May 16th, Basel disclosed that discussions were underway between institutional investors and a group of affluent individuals regarding this acquisition, […]
Judge drops trespassing charges against migrants in military border area.
Dozens of immigrants who crossed into the United States unlawfully through new military control zones along the US-Mexico border have had their trespass charges dismissed. Court documents indicate that U.S. Magistrate Judge Gregory Warms initiated the dismissals on Wednesday, noting that many immigrants were unaware they were entering a restricted area designated as the Military […]