Fundamental Overview The USD got a boost yesterday from another set of hot data as the US Job Openings surprised to the upside and the prices paid index in the ISM Services PMI jumped to the highest level since 2023. The market’s pricing didn’t change much but traders no longer fully price in the next
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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 February futures contracts at MCX opened flat with a negative bias today at Rs 77,440 per 10 gram, which is down by 0.12% or Rs 91 while silver March futures contracts were trading at Rs 90,840/kg, down by 0.04% or Rs 33. Gold prices have broadly traded flat in this week so far, having
Dollar regained some traction overnight, supported by strong services sector data that bolstered expectations for Fed to hold interest rates steady this month. Fed fund futures now imply a 95% probability of no rate cut in January, up from 90% last week. The upbeat economic performance placed moderate downward pressure on both equities and bonds,
UK firms are planning to raise prices to cover higher tax payouts as confidence among businesses tumbled to its lowest level since the market-rocking “mini-budget” crisis of fall 2022, according to a survey by the British Chambers of Commerce. The trade group said sentiment had “declined significantly” in its largest poll since the Labour government’s debut budget last October, which
ICE Brent pushed above US$77/bbl yesterday with sentiment still largely supportive following a stronger physical market, ING’s commodity analyst Ewa Manthey and Warren Patterson note. Strength in the market continues in early morning trading “Concerns over Iranian and Russian oil flows will also be providing some support. There were reports yesterday that a port operator
The AUDUSD bottomed for 2024 on the very last day of the trading year (which is unique). The price bounced higher off that low and in doing so was able to extend above a swing area off the daily chart between 0.6269 to 0.6282. See the red numbered circles on the chart below. The AUD/USD
Markets Summary The financial markets experienced a mixed day with significant moves across commodities, currencies, and equities. Here’s an overview: Commodities: WTI Crude Oil rose $0.81 (+1.09%) to settle at $74.18, supported by steady demand signals. Gold gained $13.76 (+0.52%) to close at $2,649.69, reflecting safe-haven buying amid market volatility. Silver edged up $0.08 (+0.29%)
Gold prices held its ground on Tuesday, with investors awaiting more economic data later this week for cues on the Federal Reserve’s interest rate trajectory for this year. FUNDAMENTALS * Spot gold was steady at $2,636.05 per ounce, as of 0106 GMT. U.S. gold futures remained unchanged at $2,647.30. * Investors are now looking to
Swiss Franc weakened across the board today after inflation data revealed a reversal in annual CPI back 0.6% in December. This marks the fourth consecutive month of deflationary pressure, as monthly CPI continues to slide. With inflation well below 1% for the past four months, concerns over a return to deflation have grown, intensifying expectations
A person shops at a Whole Foods Market grocery store on December 17, 2024 in New York City. Spencer Platt | Getty Images Activity in the U.S. services industry accelerated in December but brought with it a sharp rise in expectations for price increases as businesses grew concerned about the impact tariffs would have on
EUR/USD inches lower to 1.0370 on Tuesday after repeated rejections at the 20-day SMA. The RSI rises to 45, suggesting improving momentum but still hinting at a cautious outlook. MACD shows flat green bars, indicating easing bearish pressure yet no clear bullish shift. EUR/USD managed to climb towards the 1.0370-1.0390 area at the begging of the
Fundamental Overview The USD continues to remain supported since the last FOMC decision as the market perceived it as more hawkish than expected. After the rally during the low volume Christmas holidays, we are now seeing a pullback pretty much across the board. The market’s pricing didn’t change much with roughly two rate cuts priced
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 February futures contracts at MCX opened flat today at Rs 77,249 per 10 gram, which is up by 0.12% or Rs 91 while silver March futures contracts were trading at Rs 90,575/kg, up by 0.02% or Rs 21. Gold prices went up by Rs 350/ 10 grams in the last one week while silver
Dollar remains under some pressure as markets digest conflicting signals about the trade policy direction of the incoming Trump administration. President-elect Donald Trump dismissed media reports suggesting a sector-specific tariff plan as “fake news” but provided no further clarification. The lack of concrete details leaves markets grappling with uncertainty, unable to assess the economic impact
A man rides bicycle on a snow-covered street after snowfall in Frankfurt am Main, western Germany, on December 29, 2024. Kirill Kudryavtsev | Afp | Getty Images Annual inflation in the euro zone rose for a third straight month to reach 2.4% in December, statistics agency Eurostat said Tuesday. The reading was in line with
Silver price gains momentum as the weakening US Dollar makes the metal more accessible to buyers holding foreign currencies. The US Dollar faces challenges following reports of the incoming Trump administration adopting a more targeted approach in applying tariffs. Silver demand increases as China commits to adopting “more proactive” macroeconomic policies and lowering interest rates
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