Trading in the forex markets remained relatively subdued today, with limited momentum across major pairs. Sterling saw a brief uptick following robust UK employment data, but the rally quickly lost steam. The data did little to alter expectations that BoE will likely keep rates unchanged next week and wait until November to reassess its stance.
People shop at a store in Brooklyn on August 14, 2024 in New York City. Spencer Platt | Getty Images The Federal Reserve gets its last look this week at inflation readings before it will determine the size of a widely-expected interest rate cut soon. On Wednesday, the Labor Department’s Bureau of Labor Statistics will
In this article GS Follow your favorite stocksCREATE FREE ACCOUNT David Solomon, CEO of Goldman Sachs, during an interview for an episode of “The David Rubenstein Show: Peer-to-Peer Conversations” in New York on Aug. 6, 2024. Jeenah Moon | Bloomberg | Getty Images Goldman Sachs will post a roughly $400 million pretax hit to third-quarter
The GBP/USD is on the backfoot after spiking to a daily high of 1.3107 after a solid UK jobs report, though it has retreated below the 1.31 handle as traders await the release of US inflation data. At the time of writing, the pair trades at 1.3052, down 0.17%. Read More… The Pound Sterling (GBP) trades higher
The AUDUSD moved lower on Friday helped by risk-off sentiment from the tumble in US stocks. In trading today, selling has continued after a rise in the early Asian session. The fall has taken the price of the AUDUSD to a key technical support level defined by three separate technical tools: The 38.2% retracement of
Does not believe that private consumption has recovered strongly yet Will aim to achieve conditions where wages grow sustainably so can fully exit from deflation The leadership race should likely come down to a battle between Ishiba and current digital minister, Tara Kono. For some context, Kono also ran for the post back in 2021
Gold October futures contracts at MCX opened flat on Tuesday at Rs 71,615 per 10 gram, which is down by 0.02% or Rs 13 while the silver December futures contracts were trading at Rs 83,595/kg, down by 0.06% or Rs 50. In the last one week, gold prices have traded flat while silver prices have
The forex markets have remained largely subdued in today’s Asian session, with most major currency pairs moving within a narrow range from yesterday. Investor sentiment stabilized overnight, with major US stock indexes closing higher. However, caution is still the prevailing mood as traders await tomorrow’s US CPI data, which will be pivotal in shaping Fed’s
Turkish Foreign Minister Hakan Fidan attends the BRICS+ session on a two-day BRICS foreign ministers summit held in Nizhny Novgorod, Russia on June 11, 2024. Sefa Karacan | Anadolu | Getty Images Turkey’s request to join the BRICS alliance is a move seen as both strategic and symbolic as the Eurasian country of 85 million
In this article ORCL Follow your favorite stocksCREATE FREE ACCOUNT Larry Ellison, chairman and co-founder of Oracle Corp., speaks during the Oracle OpenWorld 2017 conference in San Francisco on Oct. 1, 2017. David Paul Morris | Bloomberg | Getty Images Oracle shares rose 9% in extended trading on Monday after the database software vendor reported
AUD/USD recovers its intraday losses following the release of China Trade Balance data. China’s Trade Balance increased to CNY 649.34 billion in August, from the previous reading of CNY 601.90 billion. The US Dollar received support as recent labor data reduced the likelihood of an aggressive Fed rate cut in September. The AUD/USD pair gained ground after the
The NZDUSD continued its run to the downside in trading today after sharp declines on Friday helped by the risk-off sentiment on stock selling, and lower commodities. The down momentum continued today and carried the price down toward the 38.2% retracement of the move up from the August low to the August high. That level
BofA anticipates the European Central Bank (ECB) will implement a 25 basis point (bp) cut to the deposit rate at its September meeting, with a modestly negative impact on the EUR due to unchanged guidance and weaker growth outlook. Key Points: Rate Cut Expectation: Deposit Rate: Expected to be reduced by 25bp. Other Policy Rates:
Gold prices slumped Rs 700 to Rs 73,500 per 10 grams in the national capital on Monday amid a decline in precious metal rates in the global markets. The yellow metal had closed at Rs 74,200 per 10 grams in the previous close on Friday. Tracking gold, silver prices also plummeted Rs 2,000 to Rs
Dollar strengthened modestly in today’s quiet trading as market participants continued to scale back expectations for a more aggressive 50bps rate cut by Fed this month. However, the greenback’s momentum remains modest as it awaits a crucial test from the upcoming US CPI data this week. Stabilizing risk sentiment is also keeping a lid on
Italian Prime Minister Mario Draghi during the press conference at the Multifunctional Hall of the Prime Minister on July 12, 2022 in Rome, Italy. Massimo Di Vita | Mondadori Portfolio | Getty Images The European Union needs up to 800 billion euros ($884 billion) in additional investment per year to meet its key competitiveness and
The EUR/GBP pair is consolidating sideways between 0.8410 and 0.8450. The RSI is flat at 43, while the MACD is also neutral with the MACD red bars declining. The pair could break out of this range if the volume picks up. In Monday’s session, the EUR/GBP pair mildly declined to 0.8440, facing a mixed technical
The US jobs report was a bit weaker than expectations especially when you consider the -86,000 revision to the prior month’s. Nonfarm payroll rose by 142K lower than the 161K estimate but the unemployment rate did fall to 4.2% from 4.3%. The USD dollar had an up-and-down reaction sending the three major currency pairs to