Dollar’s rebound is gathering momentum, as fueled by yesterday’s data indicating a resurgence in the services sector, which could impede disinflation progress. While fed fund futures still reflect over 50% probability of a rate cut in September, there is now a 0.6% chance of a rate hike—an occurrence not seen for quite some time. Currently,
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 Friday’s key moments. 1. Wall Street was bouncing higher Friday after, as Jim Cramer put it, a “really bad day” in the prior session. Thursday’s late-day decline happened as bond yields rose on
Mexican Peso recovers slightly, breaking three-day losing streak. Mexico’s wider April trade deficit and slower economic growth are reported by INEGI. Banxico minutes show division on rate cuts amid ongoing inflation, emphasizing commitment to price stability. US Durable Goods Orders beat expectations, but March’s figures are revised down heavily. The Mexican Peso snapped three days
Crude oil futures trade between the 100 and 200 week MAs Crude oil futures are trading up around one dollar on the day at $77.85 (up 1.25%). The low price today extended down to $76.18. That was the lowest level going back to February 26. This week, the price is currently down $-1.62 or minus
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 crept higher on Friday, having been under pressure from lingering concerns that sticky inflation could prolong higher interest rates and curb fuel demand. The Brent crude July contract was up 41 cents to $81.77 a barrel by 1351 GMT. The more-active August contract was also up 41 cents at $81.52. U.S. West Texas
Euro rebounded notably today despite the absence of substantial news from Europe. Sterling followed suit, shrugging off poor UK retail sales data. Conversely, Dollar ignored upbeat durable goods data and weakened alongside Yen and Swiss Franc. Commodity currencies displayed mixed performance. It appears that traders are lightening up their positions ahead of the long weekend
People walk in the rain over the London Bridge in central London on March 12, 2024. Lucy North – Pa Images | Pa Images | Getty Images LONDON — U.K. retail sales volumes dropped 2.3% in April as wet weather deterred shoppers, the Office for National Statistics said Friday. Economists polled by Reuters expected a
In this article ELF Follow your favorite stocksCREATE FREE ACCOUNT E.l.f Beauty products. Courtesy: e.l.f Beauty E.l.f. Beauty posted its first billion-dollar fiscal year on Wednesday as sales spiked 77%, but the retailer’s shares fell as it said it expects its growth to slow. The eyes, lip, face company, known for its viral marketing and
Silver price steadies above $30.00 but is prone to more downside amid multiple headwinds. The US Dollar strengthens as Fed supports maintaining interest rates at their current levels for longer. Strong US economic outlook has negatively impacted Fed rate-cut prospects for September. Silver price (XAG/USD) finds temporary support near the psychological support of $30.00 in Friday’s
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
The latest report here today continues to exemplify the notion above. Even before their decision in March, the BOJ was already facing a race against the clock after having already sat on its hands throughout the whole of last year. They wanted to wait on the spring wage negotiations to confirm their conviction. And in
Gold rose on Friday but was set for its first weekly drop in three weeks, as investors lowered expectations of a U.S. interest rate cut after the Federal Reserve‘s latest meeting indicated that there would be a delay in monetary policy easing. FUNDAMENTALS * Spot gold rose 0.2% at $2,332.14 per ounce, as of 0119
Trading has been relatively quiet in Asian session today. Dollar regained some ground overnight following hawkish minutes from the latest FOMC meeting, which revealed that several members are prepared to support further rate hike if necessary. Despite this, the greenback lacks clear follow-through momentum at present. For a more sustained near-term rebound, Dollar will need
JPMorgan Chase‘s chairman and CEO Jamie Dimon says the U.S. economy could see a “hard landing.” When asked by CNBC’s Sri Jegarajah about the prospect of a hard landing, Dimon replied: “Could we actually see one? Of course, how could anyone who reads history say there’s no chance?” The CEO was speaking at the JPMorgan
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. U.S. stocks were mixed on Thursday. The Nasdaq hit a record high after Club holding Nvidia’s spectacular quarterly earnings report on Wednesday. The leading AI chipmaker once again crushed analysts’
The US Dollar climbed to multi-day highs on the back of diminishing bets of a rate cut in September, strong data from US business activity in May and a hawkish tilt from the FOMC Minutes. Here is what you need to know on Friday, May 24: The USD Index (DXY) rose to multi-session tops north
The USDCHF – like other pairs today – have seen down and up price action. The down in this pair coming into the US session saw the pair stall the fall at a random level. Helping to reverse was the S&P Global data, but often times there is a technical reason as well. Not today.