Gold price loses traction in Monday’s Asian session. The stronger USD undermines the yellow metal, while the dovish Fed might cap its downside. Traders will focus on the US PMI data ahead of the employment report on Friday. The Gold price (XAU/USD) extends its decline below the $2,500 psychological level on Monday. The firmer Greenback
Fundamental Overview This week has been pretty boring all around as the lack of catalysts kept the price action confined in a tight range. The market is waiting for the key economic releases next week as we will get the ISM PMIs and lots of US labour market data including the NFP report. As a
UPCOMING EVENTS: Monday: US/Canada Holiday, China Caixin Manufacturing PMI, Swiss Manufacturing PMI. Tuesday: Swiss CPI, Swiss Q2 GDP, Canada Manufacturing PMI, US ISM Manufacturing PMI. Wednesday: Australia Q2 GDP, China Caixin Services PMI, Eurozone PPI, BoC Policy Decision, US Job Openings, Fed Beige Book. Thursday: Japan Average Cash Earnings, Swiss Unemployment Rate, Eurozone Retail Sales,
Gold October futures contracts at MCX opened flat on Wednesday at Rs 72,040 per 10 gram, which is down by 0.11% or Rs 82 while silver September futures contracts were trading at Rs 85,330/kg, down by 0.38% or Rs 328. In this week, the prices of gold have gained Rs 300/10 gm while silver has
In this article AEO Follow your favorite stocksCREATE FREE ACCOUNT A shopper walks past the American clothing and accessories retailer American Eagle store in Hong Kong. Budrul Chukrut | Lightrocket | Getty Images American Eagle missed Wall Street’s sales targets for a second quarter in a row on Thursday, but profit grew by nearly 60%
EUR/USD trimmed to the downside on Friday, extending into a three day down streak. EU inflation brought no surprises, US PCE inflation kept rate bets on balance. Coming up next week: Last US NFP jobs data print before next Fed rate call. EUR/USD tilted further into the red on Friday, extending a downside move into
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SPX daily chart There was no lack of drama in the final day of equity trading in what was a wild ride in August. The S&P 500 opened strongly and then gave it all back to trade in negative territory at midday. However some steady bids emerged in the afternoon before a massive wave of
Oil prices held mostly steady on Thursday as a smaller-than-expected draw in U.S. crude inventories and continued worries over China demand countered supply disruptions out of Libya. Brent crude futures were down 1 cent, or 0.01%, at $78.64 a barrel at 0043 GMT, while U.S. West Texas Intermediate crude futures were up 8 cents, or
Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Thursday’s key moments. The S & P 500 advanced 0.7% Thursday, despite tech behemoth Nvidia’s post-earnings decline. Shares of the AI chipmaker tumbled 3.5% after the company handily beat estimates on the top
Gold falls below $2,500 following US PCE report, boosting likelihood of September Fed rate cut. Fed’s cautious policy easing strategy stirs uncertainty; markets favor a 25 bps cut. Traders’ bets on a 25 bps rate cut rise to 69%; odds for a 50 bps reduction fall to 31%, per CME FedWatch Tool. Gold prices tumbled
Yesterday at this time, the price of gold was trying to stay below the 100/200 hour MAs near $2510 (blue and green lines). Sellers could not keep the pressure on and the sellers turned to buyers. After some intraday volatility yesterday, buyers returned and pushed the price back up to the ceiling area between $2526.43
Markets: Gold down $19 to $2501 WTI crude oil down $2.47 to $73.44 US 10-year yields up 4.3 bps to 3.81% S&P 500 up 0.6% USD leads, JPY lags. It was tough to tie the fundamentals to the market moves today, as is often the case at month end. Tokyo CPI was hot earlier and
Gold investors returning from their summer holidays will be eager to see whether the precious metal can sustain its record-breaking rally, or if it will succumb to the curse of September. Bullion has dropped every September since 2017. Over that period, the average decline has been 3.2% in September – easily the worst month of
In the final week of August, financial markets delivered unexpected developments that caught many by surprise. Investor sentiment decisively shifted towards a risk-on approach, propelling major indices like DOW and DAX to new record highs. This optimism was largely driven by expectations of forthcoming monetary easing from key central banks, including Fed and ECB. Despite
Best Buy ‘s quarterly beat and guidance raise on Thursday was good for a 15% pop in the stock as investors rewarded better execution and the promise of wider adoption of AI devices and lower interest rates. Revenue in the company’s fiscal 2025 second quarter fell 3.1% year over year to $9.29 billion in the
EUR/USD falls to near 1.1050 as the Eurozone inflation declines in line with estimates. Soft German inflation already boosted hopes of another ECB interest-rate cut in September. US PCE inflation for July rose steadily and remains softer than estimates. EUR/USD edges lower and remains below 1.1100 in Friday’s North American session. The major currency rises as the US Dollar
Fundamental Overview Crude oil has been on a seesaw this week as we got a rally on Monday on the news that Libya was going to close down all oil fields and halt production and exports. That spike eventually got faded and prices even fell below the level seen before the news. Yesterday, we got