Oil prices were subdued on Friday, but remained on track for strong weekly gains, as investors weighed the prospect of a wider Middle East conflict disrupting crude flows against a well-supplied global market. Brent crude futures were flat at $77.55 a barrel, as of 0646 GMT. U.S. West Texas Intermediate crude futures were little changed
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Dollar continues to dominate the currency markets this week, holding its position as the strongest performer as focus shifts to the upcoming non-farm payroll report from the US. Market reactions to this data will be crucial in shaping financial movements leading up to FOMC rate decision in November. If the employment figures support a standard
Attendees at the Albany Job Fair in Latham, New York, US, on Wednesday, Oct. 2, 2024. Angus Mordant | Bloomberg | Getty Images September’s jobs picture is expected to look a lot like August’s — a gradual slowdown in hiring, a modest increase in wages and a labor market that is looking a lot like
Modelo and Corona brewer Constellation Brands is a tale of two businesses. One of them — beer — is stealing market share left and right. The other — wine and spirits — is an anchor on the stock. Nothing in the company’s fiscal 2025 second-quarter results on Thursday changed that narrative. But the next two
Here is what you need to know on Friday, October 4: The US Dollar (USD) Index, which tracks the USD’s valuation against a basket of six major currencies, extended its weekly uptrend and registered its highest daily close since mid-August on Thursday. Early Friday, the index edges slightly lower as investors gear up for the
The USDJPY is trading to a new high at 146.47. In doing so, the pair is up testing the high from last Friday at 146.465. Technically, a move above that high with momentum would have traders targeting the tabletop near 147.189 from September 2 and September 3 The move was largely driven earlier in the
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 and Silver prices rebounded on Thursday due to fresh demand from stockists and retail consumers for the ongoing festival. The precious metal rose Rs 200 to revisit the all-time high level of Rs 78,300 per 10 grams, according to the All India Sarafa Association. It had closed at Rs 78,100 per 10 grams on
Sterling fell sharply today after BoE Governor Andrew Bailey surprised markets by suggesting the possibility of aggressive rate cuts in an interview with The Guardian. Market expectations quickly adjusted, with swaps now fully pricing in a 25bps cut in November. The odds of a second 25bps cut in December also surged to 70%, up from
Riyadh, Saudi Arabia. Xavierarnau | E+ | Getty Images Saudi Arabia cut its growth forecasts and raised its budget deficit estimates for the fiscal years 2024 to 2026, looking ahead to a period of higher spending and lower projected oil revenues. Real gross domestic product is now expected to grow 0.8% this year, a dramatic
In this article LEVI Follow your favorite stocksCREATE FREE ACCOUNT Justin Sullivan | Getty Images Denim-crazed consumers are turning to Levi Strauss & Co for new jeans, but the company’s overall business is being dragged down by its Dockers brand, which the company is now considering selling off, it announced Wednesday. Sales at Levi’s brand
AUD/USD stalls at upside resistance and reverses lower, falling back inside its range. It is threatening a short-term trend reversal and MACD is about to cross below its signal line. AUD/USD reverses and starts falling after what appears to be a false breakout above the top of the range. AUD/USD Daily Chart The Aussie pair
The buying in the USDJPY has pushed the price through targets at 146.204 and 61.8% retracement of the move down from the August 16 high at 145.639 (see the earlier video on the USDJPY – GO to 4:08 on the video for the start of the analysis of the USDJPY). The price is approaching the
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 climbed more than 3% on Wednesday on rising concerns that Middle East tensions could escalate, potentially disrupting crude output from the region, following Iran’s biggest ever military blow against Israel. Brent futures reached their highest in a month, leaping $2.42, or 3.3%, to $75.98 a barrel. U.S. West Texas Intermediate (WTI) crude spiked
Japanese Yen weakened notably in early US session, reacting to rising US Treasury yields, which were boosted by stronger-than-expected US ADP job data. Adding to Yen’s decline, Japan’s new Prime Minister, Shigeru Ishiba, who was initially perceived as a monetary hawk, has softened his stance on interest rate hikes. After meeting with BoJ Governor Kazuo
Private sector hiring picked up in September, indicating the labor market is holding its ground despite some signs of weakness, payrolls processing firm ADP reported Wednesday. Companies added 143,000 jobs for the month, an acceleration from the upwardly revised 103,000 in August and better than the 128,000 consensus forecast from economists polled by Dow Jones.
EUR/GBP ends its pullback and resumes its bearish tempo. The RSI is converging bullishly with price, however, signifying a lack of bearish momentum accompanies the latest move. EUR/GBP has finished pulling back and resumed its downtrend. It has broken below the 0.8317 September 24 low, confirming a lower low and extension towards the next target
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