Gold prices gained more than 1% on Friday as the dollar and Treasury yields retreated following comments from Federal Reserve Chair Jerome Powell that signalled an interest rate cut in September. Spot gold rose 1.2% to $2,512.63 per ounce by 01:44 p.m. ET (1744 GMT), but was off a record high of $2,531.60 hit on
In this article TJX Follow your favorite stocksCREATE FREE ACCOUNT A Marshalls and HomeGoods store entrance in Miami, Florida. Jeff Greenberg | Universal Images Group | Getty Images TJX Companies raised its full-year guidance on Wednesday after posting another quarter of strong sales, but its outlook still fell just short of Wall Street’s expectations. The
Gold prices jump over 1% after Fed Chair Powell hints at upcoming rate cuts, expressing confidence in inflation nearing the 2% target. The US Dollar Index (DXY) falls 0.82% to 100.68, as Powell’s remarks push traders to bet on a 50 bps rate cut in September. US 10-year Treasury yields drop five basis points to
Fundamental Overview Yesterday, the yen strengthened across the board in the Asian session without any clear catalyst. It looks like it was more of a technical move as the price broke through a key trendline rather than something fundamental. On the other side, there might be some pre-positioning into a dovish Powell speech on Friday
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
Commodities witnessed heightened volatility so far this year due to escalating geopolitical tensions that threaten the supply-demand dynamics of raw materials. Uncertainty over the US Fed policy decisions and feeble global growth outlook too had an impact on the sentiment. Gold and silver prices returned to the limelight during this period. In the key London
Fed Chair Jerome Powell’s highly anticipated speech at Jackson Hole didn’t disappoint market participants, as he clearly signaled that the time for easing monetary policy has arrived. This declaration provided a notable boost to US stock markets on Friday, with major indexes ending the week on a positive note. Meanwhile, Dollar tumbled across the board,
TJX Companies on Wednesday held up its end of the bargain for consumers and investors — delivering a great quarter and strong guidance. It’s no wonder shares of the off-price retailer — already up 21% for the year before the release — were jumping another roughly 6% in afternoon trading and heading for record high
Through most of this year, EUR/USD has been contained by a 1.10 to 1.06 range, Rabobank’s Senior FX Strategist Jane Foley notes. EUR/USD set to trade at 1.12 on a 3-month scale “This month’s break higher and the advent of a new policy cycle for the Fed suggests that a new range is in the
Fundamental Overview The USD continues to remain under pressure amid positive risk sentiment and the imminent rate cuts from the Fed which should help global growth. These are generally bearish drivers for the greenback. In fact, the recent appreciation of the CAD has been mostly driven by the US Dollar side of the equation. 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
Ahead of the Fed Chairman’s speech and upbeat US housing data, gold October futures contracts at MCX opened flat on Friday at Rs 71,384 per 10 gram, which is up by 0.27% or Rs 190 while silver September futures contracts were trading at Rs 83,979/kg, up by 0.29% or Rs 243. Prices of gold have
In the calm before what could be a stormy session, forex markets remained exceptionally quiet during Asian trading. Dollar managed a slight recovery overnight, bolstered by pullback in US equities, but the upward momentum has been notably weak. Traders are now laser-focused on Fed Chair Jerome Powell’s speech at the Jackson Hole Symposium, which might
An Aldi supermarket in Alhambra, California, US, on Thursday, June 27, 2024. Eric Thayer | Bloomberg | Getty Images Contrary to what many believe, investment research firm BCA Research sees that the economy is on the cusp of a recession, and the predicted upcoming U.S. Federal Reserve rate cuts will not be sufficient to steer
In this article PTON Follow your favorite stocksCREATE FREE ACCOUNT Peloton said Thursday it is digging itself out of the red and eked out a slight sales increase for the first time in nine quarters as it slashed its overall losses. The beleaguered connected fitness company, which is currently being run by two board members
The Dow Jones rallied to 41,200.00 after Fed officials agreed its time to cut rates. Equities have immediately moved on to guessing how many rate cuts in 2024. Rate markets see 100 bps in cuts by 2024 year-end. The Dow Jones Industrial Average (DJIA) lurched over 350 points higher on Friday after the Federal Reserve
Fundamental Overview After the breakout of the 2480 resistance, gold eventually extended the gains into the 2532 level as the momentum buyers piled in. In the big picture, gold should remain supported as real yields fall as we head into the Fed’s easing cycle, but in the short-term strong US data might provide pullbacks along
Canada June retail sales May was -0.8% Preliminary June was -0.3% Sales down 0.5% in Q2 Preliminary July +0.6% Ex autos +0.3% vs -0.2% expected Prior ex-autos -1.3% (revised to -1.2%) Ex autos and gasoline +0.4% vs -1.4% prior These are some good numbers from the Canadian consumer. The ex autos number for June is