Gold scaled a more than two-week high on Friday, rising for a second week as the dollar and U.S. Treasury yields slipped on rising expectations the Federal Reserve will cut interest rates early next year. Spot gold was up 0.4% at $2,052.69 per ounce as of 3:50 p.m. ET (20:50 GMT), its highest level since
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Fresh selloff is seen in Dollar in early US session after lower than expected headline and core PCE inflation readings. While another month of progress might still be insufficient to prompt Fed for an early rate cut, at least, things are heading in the right direction. The greenback is set to end as the worst
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 rose on Friday as tensions persisted in the Middle East following Houthi attacks on ships in the Red Sea, although Angola’s decision to leave OPEC raised questions over the group’s effectiveness in supporting prices. Brent crude futures were up 92 cents, or 1.2%, to $80.31 a barrel at 1445 GMT. U.S. West Texas
Yen rebounds broadly in today’s Asian trading session, buoyed by optimistic revisions in Japan’s economic growth forecasts. The government, in its semi-annual economic report, upgraded its growth projections for both the current and next fiscal years. Forecast for fiscal 2023 was raised from 1.3% to 1.6%, while projection for fiscal 2024 saw an increase from
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 witnessed a minor uptick in the early trade on Friday amid slippage in the dollar index (DXY). The dollar index is currently at a four-month low, aiding the cause of the yellow metal. It is set to close with yet another weekly gain. Experts see more upside in the yellow metal and suggest a
As US session gets underway, Dollar is declining broadly, influenced by a series of lackluster economic reports. US GDP growth for Q3 was revised downward to annualized rate of 4.9% in the final estimate. Additionally, Philadelphia Fed business outlook survey for December showed a drop from -5.9 to -10.5, signaling deeper contraction in regional manufacturing
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
prices fell by more than $1 a barrel on Thursday after Angola announced it is leaving the Organization of the Petroleum Exporting Countries (OPEC). Brent crude futures were down $1.30, or 1.63%, to $78.40 a barrel by 1419 GMT, while U.S. West Texas Intermediate crude was lower by $1.19, or 1.60%, at $73.03. Angola’s oil
Robust risk-on sentiment was seen in the US markets overnight, with DOW extending its record-breaking run. S&P 500 is also approaching its historical peak, now just 50 points shy, and appears poised to challenge this high. The bullish momentum is underpinned by messages from Fed officials, suggesting that while an immediate rate cut is not
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 witnessed a minor uptick in the early trade on Thursday amid slippages in the dollar index (DXY). Investors await for more economic data in the US to gauge which way the Federal Reserve could move. On Friday, the world’s largest economy will release the November core personal consumption expenditure (PCE) index report, the Fed’s
Sterling faced a broad decline today following release of UK CPI data, which indicated that inflation slowed more significantly than anticipated. This unexpected deceleration in inflation has led markets and economists to quickly adjust their expectations for BoE rate cut. The markets are now fully pricing the first 25bps reduction as early as May, with
Justin Trudeau showing off his housing plan (AI image) Here are net migration numbers for the developed english-speaking countries from June 2022-June 2023: USA +1,138,989 (+3.4) Canada +1,131,181 (+28.6) UK +672,000 (+10.0) Australia +518,087 (+19.7) NZ +101,518 (+19.6) These numbers are high everywhere but in Canada the rate is insane. Remember that Canada has roughly
Gold price jumped Rs 300 to Rs 63,100 per 10 grams in the national capital on Wednesday amid strong cues in international markets, according to HDFC Securities. The precious metal had closed at Rs 62,800 per 10 grams in the previous trade. Silver also rallied Rs 800 to Rs 78,500 per kilogram. In its previous
Yen falls broadly today after BoJ’s to maintain monetary policy unchanged. The sell-off can be attributed to the dismay of investors who had hoped for indications of a shift towards stimulus exit next year. BoJ’s steadfastness in its easing bias, without any hint of a policy adjustment, has contributed to Yen’s softening. Although this doesn’t
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