US inflation data is due on Friday, 26 January 2024 at 8.30 am US Eastern time: I posted a preview here: The US data day kicks off at 8.30am US Eastern time. For the m/m core PCE inflation the consensus (seen in the screen shot above) is 0.2% with a range of expectations at 0.1
News
Gold edged higher on Thursday as Treasury yields fell after US GDP data highlighted that pace of inflation fell, while focus shifted to PCE data for further hints on the Federal Reserve’s interest rate cut strategy. Spot gold rose 0.5% to $2,022.84 per ounce by 10:14 a.m. ET (1514 GMT). U.S. gold futures rose 0.4%
Commodity currencies bounce in early US session, spurred by unexpectedly robust US GDP data that has invigorated stock futures. This surge in risk appetite is exerting some pressure on Dollar, although the impact remains relatively contained for the moment. The sustainability of this risk-on sentiment is still in question, which will be critical for 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
Strong economic data in the US seemed to have spoiled the party for Gold in back-to-back sessions as the yellow metal traded in the red on Thursday despite a minor uptick in the dollar index (DXY). While Street is expected to assess more economic indicators to guess the Fed’s move on the interest rate front,
Range trading continues in most major pairs and crosses for the week so far. Dollar’s selloff was relatively short-lived overnight, as US stocks retreated rather deeply after initial rally. There is sign of profit-taking in equities, which could curb any selling pressure in the greenback in the near term. However, Dollar’s next move remains contingent
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
TOKYO – Oil prices rose on Thursday after data showed U.S. crude stockpiles fell more than expected last week, while the Chinese central bank’s cut in banks’ reserve ratio reinforced hopes of more stimulus measures and economic recovery. The March contract for Brent crude gained 20 cents, 0.3%, to $80.24 a barrel as at 0128
The forex markets are currently extending a phase of indecision. Dollar, after briefly rallying against Euro and Swiss Franc, saw its gains diminish. Australian Dollar’s initial surge, fueled by optimism over China’s proposed stock market rescue plan, also quickly dissipated. Presently, Japanese Yen emerges as the strongest currency for the week, continuing its near-term consolidation.
The global PMIs have been rolling in throughout the day with the French one particularly weak and Europe showing signs of renewed softness. That hasn’t deterred the euro bulls as EUR/USD has climbed 50 pips to 1.0903, erasing yesterday’s decline. That’s on general USD softness after China’s RRR cut and the US dollar side of
Gold’s lackluster trade continued on Wednesday ahead of interest rate decisions from several central banks and a slew of economic data in the United States due for a release. Taking cues from the international market, MCX February gold futures were trading at Rs 61,976 per 10 grams, up by Rs 8 or 0.01%. Meanwhile, the
Sterling rises notably against Euro and Dollar today, buoyed by encouraging UK PMI data that pointed to a strong start for the year with renewed growth momentum. More importantly, this data suggests that BoE might need to delay its rate cut plans, as inflationary pressures could potentially resurge due to supply disruptions in the Red
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 fell on Tuesday, handing back some of the previous day’s gains, as traders weighed rising crude supply in Libya and Norway against production outages in the United States and geopolitical tensions. Brent crude futures were down 58 cents, or 0.72%, to $79.48 a barrel at 1441 GMT. U.S. West Texas Intermediate crude futures
Identifying a singular driving theme proves challenging In today’s forex market. Japanese Yen made an attempt to rebound following BoJ Governor Kazuo Ueda’s post-meeting press conference, where he hinted at the potential of a future rate hike. However, this rebound was short-lived, and Yen soon reverted to its familiar tight trading range, indicating that the
US Treasury 10-year yields (%) daily chart This is in part what is helping to keep the dollar from breaking down further earlier today. The greenback is now trading more mixed but keeping largely steadier against the European currencies. EUR/USD was up to 1.0915 earlier but now down to 1.0870 while USD/CHF is up to
Gold traded in a tight range on Tuesday ahead of interest rate decisions from several central banks and a slew of economic data in the United States due for a release. Taking cues from the international market, MCX February gold futures were trading at Rs 61,915 per 10 grams, up Rs 47 or 0.08%. Meanwhile,
Yen weakened momentarily after BoJ left monetary policy unchanged as widely expected, but swiftly regained stability. This quick recovery underscores the market’s assessment that the conditions for a BoJ rate hike in April remain intact. This viewpoint is bolstered by unchanged CPI core-core forecast, which holds steady at 1.9% for the upcoming two fiscal years.