Gold hurtled towards a third straight weekly drop on Friday, dampened by the dollar’s advance following fresh hawkish rhetoric from the U.S. Federal Reserve officials. Spot gold was down 0.6% at $1,826.39 per ounce by 1302 GMT, after earlier falling to its lowest since late-December. Bullion has fallen about 2.1% so far this week. U.S.
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Risk sentiment appeared to have turned negative after this week’s strong inflation data as well as hawkish comments from central bankers, not limited to Fed. Dollar is set to end as the best performer on expectations of higher terminal interest rate and risk aversion. But Euro is not too far away considering that ECB is
Russia announced that it would cut oil production by 500,000 barrels per day in March after the West slapped price caps on Russian oil and oil products. Picture Alliance | Picture Alliance | Getty Images Bans and price caps targeting Russian oil are having the “intended effect” despite surprisingly resilient production and exports in recent
In this article HAS Follow your favorite stocksCREATE FREE ACCOUNT A Hasbro Monopoly board game arranged in Dobbs Ferry, New York, Feb. 6, 2022. Tiffany Hagler-Geard | Bloomberg | Getty Images Hasbro‘s 2023 outlook might feel like déjà vu. At first, anyway. The toymaker on Thursday announced its fourth-quarter results while issuing conservative guidance for
Share: Economist at UOB Group Loke Siew Ting reviews the latest BSP monetary policy meeting. Key Takeaways “Bangko Sentral ng Pilipinas (BSP) raised its overnight reverse repurchase (RRP) rate by 50bps to 6.00%, marking the eighth straight meeting of increases since May last year. It wasn’t a surprised move as we have highlighted in our
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After barely taking out the low from Monday at 1.06547 earlier today (the low reached 1.06536), the EURUSD started the recovery higher. The price has now erased the declines for the day and is above the close from yesterday at 1.0686. The current price is trading at 1.06945. The next target is at the falling
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TOKYO: Oil prices slid on Friday and were on track for weekly losses as strong U.S. economic data heightened concern that the Federal Reserve will continue tight monetary policy to tackle inflation, which could hit fuel demand even as crude stockpiles grow. Brent crude futures dropped 49 cents, or 0.6%, to $84.65 per barrel by
Despite another rally attempt overnight, Dollar failed to break through near term range against others except versus Yen. The Japanese currency was licking wounds in Asian session but remains the worst performer for the week, following extended rebound in US and European benchmark yields. Canadian is the next weakest followed by Sterling. On the other
Consumer debt hit a fresh record at the end of 2022 while delinquency rates rose for several types of loans, the New York Federal Reserve reported Thursday. Debt across all categories totaled $16.9 trillion, up about $1.3 trillion from a year ago, as balances rose across all major categories. Despite a decline in originations, mortgage
In this article DASH Follow your favorite stocksCREATE FREE ACCOUNT A DoorDash sign is pictured on a restaurant on the day they hold their IPO in New York, December 9, 2020. Carlo Allegri | Reuters Shares of DoorDash jumped as much as 6% in extended trading Thursday after the food delivery company reported better-than-expected sales
Share: GBP/USD takes offers to refresh multi-day low, drops for the third consecutive day. Clear downside break of six-week-old trend line, bearish MACD signals favor sellers. Nearly oversold RSI (14) suggests limited room towards the south. 50-SMA holds the key to buyer’s conviction, 1.2000 threshold guards immediate upside. GBP/USD stands on slippery grounds as it
According to a press release published on Feb. 16 by Norway’s National Authority for Investigation and Prosecution of Economic and Environmental Crime (Økokrim), authorities have seized 60 million Norwegian Kroner ($5.85 million) in stolen cryptocurrencies linked to the Axie Infinity Ronin Bridge hack last March. According to senior public prosecutor Bender, “Økokrim is good at
With a slew of data out today and Fed speakers on the schedule, the EURUSD is in a narrow 43 pips trading range. That compares to 86 pip average over the last month of trading. The price tried to move higher in the European session, but found willing sellers against its 200 hour moving average
The major US stock indices are opening lower as traders react to the higher-than-expected PPI and expectations for more Fed hikes. The Fed’s Mester is starting the Fed speak today with a more hawkish tone. The declines in the stocks are being led by the NASDAQ index which is currently down -1.3%. The S&P index