August 2024 official Chinese PMIs from the National Bureau of Statistics (NBS): Composite is 50.1 August Manufacturing PMI 49.1 expected 49.5, prior49.4 Services 50.3 expected 50.0, prior 50.2 — The Chinese economy has been showing, and continues to show, a patchy and uneven recovery. Key trouble spots include: an uncertain property sector outlook, the sector
Gold prices were little changed on Friday, but were poised for a monthly gain on prospects of a U.S. interest rate cut in September, while traders awaited key U.S. inflation data for further insights. FUNDAMENTALS * Spot gold was down 0.1% at $2,517.91 per ounce, as of 0037 GMT, and was on track to log
Trading activity was notably subdued in the final Asian session of the week and August, but with a busy economic calendar ahead, volatility could pick up soon. Euro remains the weakest performer of the week, as the broad slowdown in inflation, reflected in data from Germany, Spain, Belgium, and Ireland, points towards another ECB rate
A woman takes a selfie photo, with the Eiffel Tower in the background, at Surcouf street in Paris, on July 23, 2024, ahead of the Paris 2024 Olympic Games. Mauro Pimentel | Afp | Getty Images Euro zone inflation dropped to a three-year low of 2.2% in August, flash figures from statistics agency Eurostat showed
In this article LULU Follow your favorite stocksCREATE FREE ACCOUNT Signage at a Lululemon store in New York, US, on Thursday, Aug. 22, 2024. Lululemon Athletica Inc. is scheduled to release earnings figures on August 29. Yuki Iwamura | Bloomberg | Getty Images Lululemon lowered its guidance and posted its first revenue miss in more
GBP/USD shows upward bias on daily chart, yet short-term RSI presents mixed signals. Hourly chart reveals bearish trend with the pair below 50, 100, and 200-HMAs; sellers aim for 1.3108 and potentially 1.3100. Additional supports at August 22 low of 1.3076 and August 20 high of 1.3052. Buyers reclaiming 200-HMA at 1.3148 could push recovery
Fundamental Overview After the strong push lower from last Friday when Fed Chair Powell delivered a more dovish than expected speech at the Jackson Hole Symposium, the USDCHF pair hasn’t moved much as the lack of catalysts this week kept the price action at bay. The market is waiting for the key economic releases next
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 October futures contracts at MCX opened flat on Friday at Rs 71,905/10 gram, which is down by 0.39% or Rs 283 while silver December futures contracts were trading at Rs 86,634/kg, down by 0.48% or Rs 415. In the month of August, the prices of gold have gained Rs 2,200/10 gm while silver has
Dollar is showing mild strength in early US session despite slightly disappointing PCE inflation data. While the data reinforces the likelihood of a 25bps rate cut by the Fed in September, it does little to support the case for a more aggressive 50bps cut. The greenback is getting a slightly boost from modest recovery in
Inflation edged higher in July, according to a measure favored by the Federal Reserve as the central bank prepares to enact its first interest rate reduction in more than four years. The Commerce Department reported Friday that the personal consumption expenditures price index rose 0.2% on the month and was up 2.5% from the same
In this article ULTA Follow your favorite stocksCREATE FREE ACCOUNT An Ulta Beauty store in New York, US, on Monday, Aug. 19, 2024. Yuki Iwamura | Bloomberg | Getty Images Ulta Beauty shares fell 7% in extended trading Thursday as the company fell short of second-quarter expectations and trimmed its full-year guidance after a decline
The Pound Sterling falls below 1.3150 against the US Dollar after sticky US core PCE inflation. A decline in market expectations for the Fed’s large interest rate cuts supported the US Dollar. The policy-easing spell from the BoE is expected to be slower than that of its major peers. The Pound Sterling (GBP) extends its two-day losing spree
While the EURUSD and the GBPUSD trades between the 100 and 200-hour MAs. The USDCHF is also trading between those two MAs as the last trading of the day of the weeks gets started The 100-hour MA is below the current price at 0.8448 (blue line in the chart below). The higher 200-hour MA is
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 were steady in early trading on Friday as investors weighed supply concerns in the Middle East against signs of weakened demand. Brent crude futures for October delivery expire on Friday and were unchanged at 0033 GMT. The more actively traded contract for November fell 7 cents or 0.09% to $78.75. U.S. West Texas
New Zealand Dollar made significant gains in Asian session today, boosted by unexpectedly strong business confidence data from New Zealand. In retrospect, RBNZ’s unexpected rate cut just two weeks ago now appears to be a timely and strategic move, welcomed by Kiwi traders. By initiating the policy easing cycle earlier than anticipated, RBNZ may have
A customer shops at a supermarket on August 14, 2024 in Arlington, Virginia. Sha Hanting | China News Service | Getty Images Federal Reserve officials will get the latest look at their favorite inflation indicator Friday, a data snapshot that could influence the September rate decision even as policymakers appear to have their focus elsewhere