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After another round of funding that raised $6 billion, the Elon Musk's AI project xAI has reached a total valuation of $24 billion.
The decline from the 2,450.00 level was larger than any short sellers expected, as on Friday the price was below 2,330.00. However, this week, the metal started to recover, as the short selling did not continue further below 2,330.00. Economic Calendar Analysis This week, the markets will concentrate first on the US CB Consumer Confidence release on Tuesday at 14:00 GMT. A
The pair has moved a bit higher by advancing above 156.00/156.30. Since Friday, the pair has been fluctuating around the 157.00 level, waiting for new fundamentals or approaching technical levels to push it higher. Economic Calendar This week, the markets will concentrate first on the US CB Consumer Confidence release on Tuesday at 14:00 GMT. A surprise in the consumer sentiment reading
Despite passing below the 1.2700 mark, the GBP/USD did not decline further, as it found support in the 200-hour simple moving average at 1.2675. On Monday, the rate was reaching new high levels and aiming at the 1.2800 level. Economic Calendar This week, the markets will concentrate first on the US CB Consumer Confidence release on Tuesday at 14:00 GMT. A surprise
The top event on the EUR/USD chart in the prior week was the passing below the lower trend line of the channel up pattern. However, it did not result in a broad decline. The rate found support near 1.0810 and by Monday the pair was once again approaching the 1.0875/1.0885 range. Economic Calendar Analysis This week, the markets will concentrate first on
The decline from the 2,450.00 level was larger than any short sellers expected, as on Friday the price was below 2,330.00. However, this week, the metal started to recover, as the short selling did not continue further below 2,330.00. An extension of the ongoing recovery is set to face resistance in round price levels, as they have been impacting the
The pair has moved a bit higher by advancing above 156.00/156.30. Since Friday, the pair has been fluctuating around the 157.00 level, waiting for new fundamentals or approaching technical levels to push it higher. A resumption of the prior surge of the Dollar against the Yen is set to face the 157.50 level and the weekly R1 simple pivot point
Despite passing below the 1.2700 mark, the GBP/USD did not decline further, as it found support in the 200-hour simple moving average at 1.2675. On Monday, the rate was reaching new high levels and aiming at the 1.2800 level. Before reaching the 1.2800 mark, the rate has to reach above the weekly R1 simple pivot point at 1.2773. If the
The top event on the EUR/USD chart in the prior week was the passing below the lower trend line of the channel up pattern. However, it did not result in a broad decline. The rate found support near 1.0810 and by Monday the pair was once again approaching the 1.0875/1.0885 range. A move above the 1.0875/1.0885 range and the weekly
The Chinese government has set up a third fund that is aimed to subsidize the semiconductor industry. New fund has financing for a total of $47.5 billion.
At the start of the week, crude oil price benchmarks remained at prior prices, as market focus moved to the upcoming OPEC+ meeting that is scheduled for June 2.
During Monday's trading session, Asian stock indices surged. The surge was attributed to an announced chip stimulus package by the Chinese government and a meeting between heads of states in South Korea.
Recently published data has revealed that Tesla has been optimizing its production by reducing Model Y production amounts in Shanghai.
Market analysts surveyed by Reuters have revealed that Japanese factory output has most likely increased, which is set to increase inflation pressure in the country.
The CEO of NVidia has commented that the firm expects AI created videos to drive demand for the company's chips.
The South Korean government has announced a $19 billion subsidy package for the semiconductor industry.
The stock price of NVidia has started the day above the 1,000.00 mark, as the company has reported stunning quarterly financial results and announced an upcoming one to ten stock split.
Business lobbyists have reported that top firms have agreed to increase salaries by an average of 5.58%.
The Coordinating Minister of Investment of Indonesia has announced that Elon Musk is considering the creation of an EV battery factory in the country.
As the stock price of NVidia hovers near all-time highs, analyst have continued to increase their expectations for the company's financial quarterly results. The Q1 results are set to be published after Wednesday's US trading hours.
Bloomberg has reported that the activist investing firm Elliot Investment Management has gradually built up a position in Johnson Controls International that totals up to $1 billion.
Reuters has reported that the ongoing Tesla price cuts in Europe have been implemented as damage-control after a conflict with European leasing companies.
The Chinese Commerce Ministry has banned a number of United States firms from exporting their goods to China. These new curbs come as an answer to prior US imposed tariffs on Chinese goods.
Reuters has reported that despite Chinese Politburo efforts to stimulate the real estate market, the Hang Seng Mainland Properties index has recovered only 18%. The minor recovery indicates at a failure to restore the real estate market.