Author: Fahad_Malik

The federal reserve is expected to pause rate hike in the FOMC meet which will take place on June 13-14. The Federal Reserve, which is the Central Bank of the United States, is expected to finally end its rate hike campaign in this FOMC (Federal Open Market Committee) meeting on Wednesday. The Federal Reserve which has increased the federal funds rate consecutively for 10 times to a range of 5-5.25% is set to take a pause to assess the economic data. Most economists and analysts are expecting the federal reserve to pause its rate hike campaign in the June meet…

The US branch of Binance has announced that it will no longer allow customers to trade on their platform using US dollars. The crackdown by the Securities Exchange Commission on SEC continues on Binance as the US arm of the largest crypto exchange suspends dollar deposits and has urged its users to withdraw dollar deposits by Tuesday. Earlier this week, the SEC accused Binance of violating US securities laws for trading unregistered currencies and being unregistered venues. SEC crackdowns on Binance Binance has been accused by the SEC of mixing customer funds with a separate trading firm, Sigmachain and washtrading…

The RBI in its monetary policy meet of June 6-8 is likely to announce a rate pause today. The repo rate currently stands at 6.5% The June meet of the Monetary Policy Committee (MPC) of Reserve Bank of India (RBI) is likely to end today with the RBI expected to announce a rate pause. The RBI had held repo rate in the April meet at 6.5% after 6 consecutive rate hikes. The RBI is set to conclude the MPC today which happened after 2 long months with a rate pause on the cards. The announcement will be made by RBI…

A wildfire in the northwest region of Halifax, Nova Scotia was contained 85% due to rain on Saturday. The Nova Scotia wildfire which has been burning since days finally saw some relief as rain on saturday eased the situation which was out of control. More than 20,000 residents have been displaced till now and 2.7 million hectares of land has been scorched this year in Canada. The wildfire which has been out of control got some help from nature as rain poured on Saturday in the Tantallon region. However in many parts, the wildfire continues to blaze as some optimism…

The senate of the United States has passed the debt ceiling bill averting a U.S. debt default. The bill now heads to the president’s table for final approval. The Democratic controlled Senate of the United States has finally passed the Fiscal Responsibility Act making it one step away from becoming law. The debt ceiling bill which has now been passed in both the houses is said to have averted a major financial disaster which would have caused the American Economy go into recession. The debt ceiling drama which was going on for months has finally ended after president Joe Biden…

Q4 earnings, GDP and PMI data, global trends will be the main factors that will drive the stock market in the end of May and onset of June. The coming week on the dalal street of stock market will witness major Q4 earnings reports of companies including Adani Ports, IRCTC. India is also set to release the FY 23 GDP and the Purchasing Manager’s Index (PMI) data. Apart from these, the debt ceiling deal which is to be passed in the United States this week will also be a driving factor including global market trends. On friday, Sensex and Nifty…

House speaker Kevin McCarthy says that he and president Joe Biden have reached an agreement in principle and a vote on debt ceiling will be on Wednesday House speaker Kevin McCarthy gave remarks that he and president Joe Biden have reached an agreement in principle. Speaker Kevin McCarthy said that though they have reached an agreement in principle, there’s still a lot of work to do and the house will vote on the bill on Wednesday McCarthy says vote on Debt ceiling on Wednesday The Republican House Speaker gave a conference on 9:10 ET after a one and a half…

The Indian , U.S. and EU markets rally as the United States gets closer to a debt ceiling deal and debt limit deadline extended to June 5. Markets around the world rallied on Friday except some Asian markets based on the optimism in investors about the U.S. debt ceiling. The issue of U.S. debt ceiling was closely monitored by investors as fears of a default were driving investor sentiments low. It has been reported earlier on Thursday that the democrats and republicans are just $ 70 billion apart. On Friday, U.S. treasury secretary Janet Yellen extended the deadline of the…

U.S. president Joe Biden and House speaker Kevin McCarthy appear close to a deal to raise the debt ceiling limit while also making some spending cuts, according to a U.S. Official U.S. president Joe Biden and top republican leader Kevin McCarthy met virtually on Thursday to discuss a deal to increase the debt ceiling of $ 31.4 trillion for the next two years, though failed to reach a deal. It was reported that both sides are just $ 70 billion apart from a deal that would increase the total limit up to $ 1 trillion. Both sides have constantly accused…

“Indian economy is slowly but surely recovering”, says RBI through the may 2024 release of its monthly bulletin The Reserve Bank of India (RBI) says that the Indian economy is growing but at a slow pace. The comments were made through the May release of the monthly bulletin under the State of the economy section. The monthly bulletin also says that headline inflation has dropped below 5% in April, first time since November 2022. The RBI had left the repo rate unchanged in its last Monetary Policy meeting and the next meet is scheduled on 6-8 June. Economists have earlier…