News

The major US stock indices are closing lower on the day and for the trading week. The declines for the weeks snap a 5-week winning streak. The declines on the day come after two days of higher closes. The NASDAQ and the Russell 2000 were the biggest losers as rates moved higher, and some of

MCX Gold and Silver trading, understanding price patterns is crucial for informed decision-making. Three prominent patterns — heads & shoulders, double tops and double bottoms — offer valuable insights into potential price movements, aiding traders in navigating the dynamic precious metals market. Head & ShouldersThe head & shoulders pattern typically signals a trend reversal from

This past week showcased a rollercoaster of economic revelations and market responses. Despite a mix of apprehensions, especially surrounding inflation and monetary policies, the prevailing mood remained decidedly risk-on. That culminated in DOW and S&P 500 reaching unprecedented highs, even though both concluded the week on a relatively subdued note. Inflation data stood at the

Markets: Gold up $9 to $2013 US 10-year yields up 4.3 bps to 4.28% WTI crude oil up $1.20 to $79.23 S&P 500 down 0.5% NZD leads, JPY lags The hot PPI reading initially looked like it would kick off something like CPI did earlier in the week, albeit at a smaller scale. The dollar

Spot gold closed with a gain of 0.46% at $2,013 on Friday, however, despite this the metal closed nearly 0.50% lower on the week, which is its second straight weekly loss. The ten-year US yields at 4.28% were up around 2.50% on the week, whereas the US Dollar Index was up around 0.15% on the

The euro hit a 20-year low in 2022 and the recovery since has been modest at best. If you look at equity market performance, it’s even more stark with the S&P 500 doubling the performance of the STOXX 600 from the financial crisis lows. Here’s the problem, as highlighted by ECB Governing Council member Isabel

Oil steadied on Friday as slowing demand forecast by the International Energy Agency (IEA) offset support from geopolitical tensions and optimism that the U.S. Federal Reserve might cut interest rates sooner rather than later this year. On Thursday, the IEA said global oil demand growth was losing momentum and trimmed its 2024 growth forecast, in

Dollar stages a notable recovery in the early US session, buoyed by stronger than expected January PPI figures. The highlight was PPI excluding foods, energy, and trade services, which saw its largest monthly increase in a year, hinting at persistent underlying inflationary pressures upstream. Despite the current rebound rebound, Dollar has yet to surpass 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 traded with a slight uptick on Friday helped by a slip in the dollar index (DXY) and US bond yields after decline continued on softer economic data. The lower-than-estimated retail sales have once again left Street confused as to which way the economy is headed. A rate cut expectation will likely be the key

Yen weakens mildly in Asian session today, contrasting with Nikkei’s continued up trend towards historical high made in 1990. This development comes amidst diminishing impacts of Japanese officials’ verbal interventions aimed at stemming Yen’s decline. Without tangible policy measures to back these statements, the currency’s depreciation has persisted. Meanwhile, Finance Minister Shunichi Suzuki’s tone has

Goldman Sachs is out with a note taking down its Q1 GDP tracker to 2.5% from 2.9%. They also lowered the Q4 tracker to 3.2% from 3.5% due to economic revisions. Here’s what they had to say: Industrial production decreased by 0.1% in January and manufacturing production decreased by 0.5%, both below expectations. The NAHB

Gold prices languished near a two-month trough on Thursday as traders lowered expectations of sooner and deeper rate cuts by the Federal Reserve this year, while markets await a slew of U.S. economic data for further clarity. Spot gold was up 0.3% at $1,997.10 per ounce, as of 1158 GMT, but hovered near its lowest

Dollar’s pullback intensifies in early US session, prompted by unexpectedly poor retail sales data for January. This underwhelming performance is reigniting debates about the enduring strength of consumer spending, a critical factor in fueling inflation. Although a single data point does not dictate the broader economic narrative, it nonetheless re-introduces speculation about Fed’s potential rate

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 prices held near a two-month low on Thursday, as traders assessed U.S. Federal Reserve officials’ mixed remarks on January’s hotter-than-expected inflation data that triggered a pull back on hopes of early and deeper interest rate cuts. FUNDAMENTALS * Spot gold was flat at $1,992.77 per ounce (Oz), as of 0157 GMT, after hitting its

Japanese Yen recovers broadly in Asian session today, while Nikkei also soared to a new 34-year high, surpassing the 38k mark. The move came as a rather complex reactions to economic data showing that Japan unexpectedly slipping into recession. The surprised downturn also led to the country’s demotion to the world’s fourth-largest economy in 2023,

AI image The big problem in Tuesday’s CPI report was shelter and it could remain the big problem for years. About two-thirds of January inflation rise was from shelter and that component was also a key driver during the post-pandemic period. At that point, it was because of low rates and the rise of remote