Gold prices strengthened on Wednesday as the dollar eased after dovish comments from Federal Reserve Chair Jerome Powell, with investors now turning to minutes from the U.S. central bank‘s latest policy meeting to gauge future interest rate cuts. Spot gold rose 0.7% to $2,345.00 per ounce by 1156 GMT. U.S. gold futures gained 0.9% to
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Yen’s renewed selloff captured some attention in the otherwise subdued Asian session today. With no new comments from Japanese authorities, market participants are left to speculate on when and where the next intervention might occur. A pivotal moment on the horizon is BoJ’s meeting on July 31, where the central bank is expected to outline
A “Now Hiring” sign is seen at a FedEx location on Broadway on June 07, 2024 in New York City. Michael M. Santiago | Getty Images Private payroll growth edged lower in June, according to a report Wednesday from ADP that indicates a potential slowdown in the U.S. labor market. Companies added 150,000 jobs for
EUR/USD trades with mild losses near 1.0745 in Wednesday’s early European session. The negative outlook of the pair remains intact below the key 100-day EMA. The first upside barrier will emerge at 1.0786; the initial support level is seen at 1.0650. The EUR/USD pair consolidates gains around 1.0745 during the early European session on Wednesday.
The AUDUSD buyers remain in control with the price above the 100/200 bar MA on the 4-hour chart. Both those MAs come in at 0.6644. The price is currently near 0.6662. Going into the close – and into the new trading day – those MA will be the key barometer for the pair. Staying above
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Oil prices were little changed on Tuesday, holding near the two-month highs reached in the previous session, on expectations for rising fuel demand from the summer travel season and possible U.S. interest rate cuts that could boost economic growth. Brent crude futures rose 20 cents to $86.80 per barrel as of 0142 GMT after gaining
Dollar surged across the board overnight and stayed firm in Asian session, fueled by the strong rally in benchmark US Treasury yields. This rally is partly attributed to rising expectations of a Donald Trump victory in the upcoming presidential election. Analysts suggest that a Trump win would likely lead to heightened tariffs and expanded fiscal
U.S. Federal Reserve Bank Chair Jerome Powell announces that interest rates will remain unchanged during a news conference at the Federal Reserves’ William McChesney Martin building on June 12, 2024 in Washington, DC. Kevin Dietsch | Getty Images Federal Reserve Chair Jerome Powell expressed satisfaction Tuesday with the progress on inflation over the past year
USD/CAD corrects sharply as Fed Powell admits progress in the disinflation process. Fed Powell sees risks to price pressures as more balanced. This week, investors will pay close attention to the labor market data for June from the US and Canada. The USD/CAD pair extends its correction to near the round-level support of 1.3700 in
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Gold August futures contracts at MCX opened flat on Tuesday at Rs 71,689 per 10 gram, up 0.05% or Rs 35 while silver September futures contracts were trading at Rs 89,867/kg, up by 0.13% or Rs 117. On Monday, gold and silver settled on a flat note in the international and domestic markets. Gold August
In the forex market, clear weakness of Yen, Swiss Franc, and Kiwi contrasts with a broader sense of indecision elsewhere. Dollar’s rally attempt quickly lost momentum as it struggled to break through near-term resistance levels against both the Euro and Sterling. Additionally, the greenback remains stuck within familiar ranges against the Aussie and Loonie, a
Headline inflation in the euro area dipped to 2.5% in June, the European Union’s statistics agency said Tuesday, while the closely watched core and services prints held steady. The headline figure was in line with the expectations of economists polled by Reuters. Inflation had nudged up from 2.4% in April to 2.6% in May. Core
Silver drifts lower during the Asian session on Tuesday and snaps a three-day winning streak. The mixed technical setup warrants some caution before placing aggressive directional bets. A sustained strength beyond the $30.00 mark is needed to negate any near-term negative bias. Silver (XAG/USD) struggles to capitalize on its modest gains registered over the past
Crude oil futures are settling at $83.38. That is up $1.84 or 2.26% on the day. The gain is the largest one day gain since June 10 when the index rose 2.93% and driven by expectations of higher summer demand and concerns over potential supply shortages due to OPEC+ production cuts. Oil prices increased by
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not