Gold prices fell by Rs 1,200 per 10 gram on Friday reacting to sudden halt in gold buying by the Chinese central bank, which came on the back of spot gold prices hitting record highs that People’s Bank of China (PBOC) stopped gold purchases to its reserves in May. The move came after 18 months
Dollar rebounds broadly in early US session following stronger-than-expected employment data. Despite a slight uptick in unemployment rate, robust headline job growth and wage increases highlighted the US job market’s continued tightness. This suggests that Fed should remain cautious about premature policy easing. In reaction to the data, US futures tumbled significantly, pointing to a
Traders work on the floor of the New York Stock Exchange during afternoon trading on June 03, 2024 in New York City. Michael M. Santiago | Getty Images May’s surprising pace of job growth and wage rise added to the conviction that the Federal Reserve will stay on hold through this summer and possibly beyond.
Traders walk the floor during morning trading at the New York Stock Exchange (NYSE) on May 14, 2024 in New York City. Spencer Platt | Getty Images GameStop, the video game retailer currently riding another wave of trading enthusiasm spurred on by the meme trader “Roaring Kitty,” showed no signs of an operational turnaround in
The US Dollar trades mixed on Friday ahead of key US economic data. Markets are still digesting the interest rate cut from the ECB ahead of the US Employment Report. The US Dollar Index dips lower and already fell below 104.00 in the early Asian session. The US Dollar (USD) edges lower on Friday but
Fundamental Overview The USD has been on the backfoot since the beat in the US ISM Services PMI where the data showed that the last month drop was just a blip and overall we have a resilient economy with lower inflationary pressures. The data continues to reinforce the narrative that the next move is more
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 rose on Friday, continuing to climb after OPEC+ members Saudi Arabia and Russia indicated readiness to pause or reverse output agreements and as an interest rate cut in Europe raised the prospect of a similar U.S. move. Brent crude futures rose 16 cents or 0.2% to $80.03 per barrel and U.S. West Texas
Forex markets remain directionless as the week’s highly anticipated central bank activities. The rate cuts by both BoC and ECB failed to provide the expected catalysts for significant currency movements. Neither Canadian Dollar nor Euro managed to break out of their recent trading ranges following these policy adjustments. Similarly, Dollar continues to gyrate within its
Russian President Vladimir Putin is seen while visiting the Lakhta Center on June 5, 2024, in Saint Petersburg, Russia. Vladimir Putin visited a newly built Lakhta Center, a skyscraper of Gazprom, prior to his meetings at the Saint Petersburg International Economic Forum SPIEF 2024. Contributor | Getty Images News | Getty Images Russia’s annual economic
EUR/USD bulls keep bids buoyed on Thursday, but technical ceiling remains. Broader markets looking ahead to Friday’s US NFP print. Fed rate cut hopes pin into September, ECB unlikely to bring a follow-up cut. EUR/USD pushed back into near-term highs on Thursday, easing below 1.0870 in early market action before recovering ground and re-pinning into
Crude oil futures are settling at $75.55. That is up $1.48 or 2.0%. The high price today reached $75.79. The low price was at $74.06. The price bottom this week at $72.48 on Tuesday. For the trading week the price is still down -1.9% or $-1.46, but well off the low of $-4.51. Crude oil
The US jobs report will be released at 8:30 AM ET tomorrow. Last month (April), the payrolls came in at 175K which was much lower than the 243K estimate at the time. The prior month revision was -22k. Other details from April’s report showed: Unemployment rate 3.9% vs 3.8% expected (3.8% prior) Participation rate 62.7%
Oil rose in early Asian trading on Thursday on rising expectations the Federal Reserve will cut interest rates in September, and as the market rebounded from a selloff related to growing U.S. inventories and an OPEC+ plan to increase supply. Brent crude futures rose 27 cents, or 0.34%, to $78.68 a barrel by 0103 GMT,
Following ECB’s decision to lower interest rates by 25 bps, a move that aligned with market expectations, Euro remained relatively steady within its near term trading range. ECB President Christine Lagarde, speaking at the post-meeting press conference, deliberately avoided providing explicit forward guidance, stating that ECB is not pre-committing to any particular rate path. Lagarde
In this article FIVE Follow your favorite stocksCREATE FREE ACCOUNT A shopper browses a selection of body boards outside a Five Below store in Bloomington, Illinois, on July 25, 2018. Daniel Acker | Bloomberg | Getty Images While inflation is showing signs of easing, consumers in the country may still be feeling its effects for
The European Central Bank is set to cut interest rates by 25 bps on Thursday. ECB President Christine Lagarde could stick to a data-dependent stance on future rate outlook. The Euro’s fate hinges on the ECB’s updated forecasts and Lagarde’s speech. The European Central Bank (ECB) is set to announce its first interest rate cut
Fundamental Overview Gold has been feeling the pressure from the rise in real yields in the last part of May which led to a drop and a consolidation around the 2340 level. More recently, the data showed that the inflation scare of the first part of the year seems to be in the rear-view mirror