US stocks close sharply higher with the S&P index closing at a new record level and above the 4800 level. The NASDAQ index led the way. For the week, the major indices all closed higher for the 2nd consecutive week after sharp declines in week 1 of the 2024 trading year. The final numbers are
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NEW YORK -Oil prices settled slightly lower on Friday but recorded a weekly gain as Middle East tensions and disruptions to oil output offset concerns about the Chinese and global economies. Brent futures settled 54 cents lower at $78.56 a barrel. U.S. West Texas Intermediate crude fell 67 cents to settle at $73.41. For the
An employer representative at a Veteran Employment and Resource Fair in Long Beach, California, US, on Tuesday, Jan. 9, 2024. The Department of Labor is scheduled to release initial jobless claims figures on January 11. Eric Thayer | Bloomberg | Getty Images Consumers have grown more confident about the direction of the economy and inflation
Share: EUR/USD could be somewhere near 1.1500 by end-2024, economists at ING report. A dose of patience is required We retain a 1.1500 end-year forecast for EUR/USD but see range trading in the near term. While a re-assessment of the aggressively priced European Central Bank easing cycle could in theory be positive for the Euro,
The AUDUSD moved lower in the first half of the week, with the high for the day reached in the early hours of Monday. The fall bottomed on Wednesday when the price reached a low corresponding to swing highs and lows from November and again in December. Today’s return to that level attracted risk-focused buyers,
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
NEW YORK -Oil prices were little changed on Friday but headed for a weekly gain, as Middle East tensions and disruptions to oil output offset concerns about the global economy. Brent futures were up a cent to $79.11 a barrel at 11:41 a.m. (1641 GMT). U.S. West Texas Intermediate crude fell 9 cents to $73.99.
Sterling fell broadly today following weaker-than-expected retail sales data. Despite this, the British currency’s losses have been somewhat contained, indicating a degree of resilience. Concurrently, Japanese Yen and Australian Dollar are showing attempts to recover, but these efforts lack significant follow-through momentum. The day’s activities seem more reflective of temporary consolidations rather than indicative of
In this article AXP Follow your favorite stocksCREATE FREE ACCOUNT Stephen Squeri, chair and CEO of American Express, speaks during an Economic Club of New York event in New York on Nov. 10, 2022. Stephanie Keith | Bloomberg | Getty Images American Express CEO Stephen Squeri on Friday said the credit card company saw “good
Share: The late 2023 rally in AUD/USD has faded somewhat in early 2024. Economists at Danske Bank analyze the pair’s outlook. AUD/USD remains firmly in the hands of global risk sentiment With Australian leading indicators pointing firmly downward, and US economic data still remaining solid, we expect relative rates and growth to weigh on AUD/USD
The EURUSD yesterday moved down to test its 200-day moving average at 1.0846. The low price reached 1.0842 before bouncing to the upside. The subsequent move to the upside yesterday and into the Asian session today sniffed its falling 100 hour moving average currently at 1.0905. However, it found willing sellers after the initial jobless
USD The Fed left interest rates unchanged as expected at the last meeting with a shift in the statement that indicated the end of the tightening cycle. The Summary of Economic Projections showed a downward revision to Growth and Core PCE in 2024 while the Unemployment Rate was left unchanged. Moreover, the Dot Plot was
USD The Fed left interest rates unchanged as expected at the last meeting with a shift in the statement that indicated the end of the tightening cycle. The Summary of Economic Projections showed a downward revision to Growth and Core PCE in 2024 while the Unemployment Rate was left unchanged. Moreover, the Dot Plot was
The near-term chart for gold tells a better story on price action in the precious metal so far this year: Gold (XAU/USD) hourly chart During the downside push two weeks ago, gold struggled to get above the key hourly moving averages. And after a break of the 100-hour (red line) and 200-hour (blue line) moving
I already outlined the technical predicament for AUD/USD earlier here. And the charts for USD/CAD and NZD/USD are also pointing to a lack of technical follow through by dollar bulls on the week. USD/CAD daily chart In the case of USD/CAD, the pair did manage a push above its 200-day moving average (blue line) but
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 drifted lower on Friday after a rally the day before, as geopolitical tensions and disruptions in U.S. oil production from a cold blast were countered by concerns over slow demand growth in China. Brent crude futures fell 17 cents, or 0.2%, to $78.93 a barrel by 0151 GMT, and U.S. West Texas Intermediate
Gold prices were set on Friday for their worst week in more than a month, as the dollar and Treasury yields strengthened after U.S. central bankers pushed back against expectations of early rate cuts amid signs of resilience in the economy. FUNDAMENTALS * Spot gold edged 0.1% higher to $2,023.52 per ounce by 0158 GMT.