China unveiled significant stimulus measures to support the struggling economy. Policy rate cut by 30 basis points. Reserve Requirement Ratios for banks reduced by 50 basis points. Mortgage rates on existing loans cut by 50 basis points. Recapitalization of major banks with 1 trillion CNY (approx. $142 billion). Potential upside
CSI 300 Index Performance: Up 6% today, following a 15% gain last week. Technical Breakthrough: The index has broken its downtrend since 2022. Moving Average The index has risen above its 100-week moving average Overall Trend Significant upward momentum noted in the market.
1. Fed Chair Powell Speaks - Monday 2. September ISM Manufacturing data - Tuesday 3. JOLTs Jobs data - Tuesday 4. ADP Nonfarm Employment data - Wednesday 5. October OPEC Meeting - Wednesday 6. Initial Jobless Claims - Thursday 7. September Jobs Report - Friday
News
Strategic Move: Wiz Cancels Google Deal Cybersecurity startup Wiz has called off its $23 billion acquisition deal with Google-parent Alphabet. Instead, the company has decided to pursue an initial public offering (IPO). This strategic decision reflects the company's confidence in its market potential and desire to remain independent.
News
Company Performance: NXP Semiconductors NXP Semiconductors' stock price dropped by 8% after announcing its second-quarter results. The company's soft guidance has impacted investor confidence, leading to a significant sell-off. The disappointing financial performance and cautious outlook have raised concerns among investors about the company's growth
News
Political Developments: Trump Leads in Polls Donald Trump has widened his lead in the 2024 presidential race following his official nomination. This political development has significant implications for market sentiment and investor strategies as the election approaches. The increased likelihood of a Trump presidency brings potential changes to regulatory and
Forecast
Current Trends: Oil Prices Stabilize After experiencing declines, oil prices steadied as investors remained cautious about predicted surpluses and weak demand. This stabilization reflects ongoing uncertainties in global energy markets and the complex interplay of supply and demand factors. Investors are balancing the potential for a surplus in oil supply
Analysis
Market Overview: Tech Rebound Boosts Asian Stocks Asian stocks experienced a positive trend, driven primarily by a rebound in heavyweight technology stocks. The tech sector, recovering from a recent downturn, provided significant gains across major markets in the region. However, Chinese markets lagged behind, reflecting continued negative sentiment towards China&
Forecast
Key Market Movers: Ethereum ETFs and Bitcoin Conference This week could be explosive for Ethereum as spot ETH ETFs launch in the US on Tuesday. The SEC has approved the S-1 registration statements of several Ethereum ETF issuers. NYSE Arca and Cboe will list and begin trading multiple Ethereum ETFs,
Forecast
Technical Overview of Gold Price Gold prices have moved away from a one-week low and climbed back above the $2,400 mark. The 14-day Relative Strength Index (RSI) holds above the 50 level, currently at 53.50, supporting a positive outlook. The 21-day and 50-day Simple Moving Averages (SMA) Bull
Forex
Technical Overview of AUD/USD AUD/USD remains below 0.6650, pressured by worries over China’s economic slowdown. The pair finds initial support at the July low of 0.6631, ahead of the 100-day SMA at 0.6605. A break below this level could see the pair targeting the