LONDON -Oil prices for Brent crude held above $87 a barrel on Thursday, near their highest level since late April after data the previous day showed a decline in U.S. inventories. Brent crude futures were down 29 cents, or 0.3%, at $87.05 a barrel by 1323 GMT. U.S. West Texas Intermediate (WTI) crude futures fell
Dollar remains subdued today, but selling momentum has turned weak. With US markets closed for the holiday, trading activity is expected to be light. Meanwhile, traders are also gearing up for tomorrow’s key US non-farm payroll data, which will be crucial. Further cooling in the job market and wage growth is needed to give Fed
Canadian Dollar stretched into a third day of gains against the Greenback. Canada is absent from the economic calendar on Thursday. US markets are also shuttered for the holiday, leaving a lull in market volume. The Canadian Dollar (CAD) rose into a third consecutive day of gains against the US Dollar as Thursday markets grind
Fundamental Overview The USD yesterday weakened across the board following soft US Jobless Claims and ISM Services PMI reports. Overall, the data didn’t change much in terms of interest rates expectations, but it reinforced the view that the Fed is going to deliver at least two rate cuts by the end of the year. The
If you’re American, the bad news is that US markets are closed today. The good news is that your local furniture retailer is having their ‘biggest sale of the year’. It’s a strange week in trading that’s generally followed the script. The week of July 4th is seasonally one of the strongest of the year
Post the dovish comments of the Fed, gold prices rose a little over Rs 900 and opened at Rs 72,460 per 10 grams on Thursday, while silver gained over Rs 2,000 since the Fed’s commentary, opening at Rs 91,904/kg. Gold and silver posted solid gains after the Fed commentary and profit-taking in the dollar index.
Dollar faced significant selloff overnight as market participants ramped up bets on a September rate cut by Fed. This shift in sentiment propelled S&P 500 and NASDAQ to record highs too. However, the greenback managed to stabilize in Asian session as the forex markets quieted down in observance of US July 4 holiday. As noted
Job seekers attends the JobNewsUSA.com South Florida Job Fair held at the Amerant Bank Arena on June 26, 2024 in Sunrise, Florida. Joe Raedle | Getty Images With signs building that the labor market is at least slowing if not something worse, the June nonfarm payrolls report takes on added significance. Payroll gains so far
Today’s Stock Market Indices Overview: S&P 500, SPY, NASDAQ 100, QQQ, RUSSELL 2000, DAX 40, FTSE 100, ASX 200. Featuring Elliott Wave Technical Analysis Elliott Wave Analysis Indices: S&P 500, SPY, NASDAQ 100, QQQ on track for higher levels as the Elliott wave count was suggesting. Trading Strategies is continue holding long trades for US
The USDCAD has continued its move to the downside today on the back of lower rates and the weaker US data, Technically, the price moved below the 100 and 200 bar MA on the 4-hour chart yesterday, and remained below those MAs in the early Asian session today, before moving lower on the data. 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
Gold has outperformed Nifty over the first half of 2024, delivering 13.37% returns compared to the 50-stock index which has yielded 10.5% in the first six months. In rupee terms, the MCX gold contract has gained nearly Rs 8,400 per 10 grams while Sensex surged 2,279 points at the end of June 30, 2024. Summing
Dollar weakens notably against European majors in early US session, partially due to worse-than-expected ADP private job data. However, the primary reason seems to be traders becoming cautious ahead of several key events this week, including UK general elections, US non-farm payroll report, and French parliamentary elections. Traders are also mindful of thinner markets tomorrow
[The stream is slated to start at 9:30 a.m. ET. Please refresh the page if you do not see a player above at that time.] Federal Reserve Chair Jerome Powell joins a panel including his global counterparts Tuesday at a European Central Bank forum. Powell will join ECB President Christine Lagarde and Brazil Central Bank
Constellation Brands reported an earnings beat on Wednesday that was driven by strength in its beer business. However, shares fell 4% after an initial move up, as investors — including us — remain troubled by continued weakness in the wines and spirits business. Comparable net sales for the three months ended May 31 increased 6%
Canadian Dollar climbs a third of a percent against Greenback after sour data patch. Canada economic data remains thin until Friday’s labor figures. US data broadly softens, propping up rate cut hopes. The Canadian Dollar (CAD) gave a shaky performance on Wednesday. The Loonie was mixed against a basket of major currencies but notably climbed
In the kickstart video for July 3, 2024, I take a look at three the major currency pairs from a technical perspective – the EURUSD, USDJPY and GBPUSD. What is the price action telling traders about the technical bias, the risk, and the targets as the clock ticks toward the early closing stocks and bonds
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