Gold hit yet another lifetime high in the opening trade on Thursday taking cues from the international commodity prices. US Fed chair Gerome Powell’s statement that the recent job numbers and higher-than-expected inflation readings do not significantly alter the central bank’s monetary strategy, lifted the investor mood for bullion triggering a fresh wave of buying
Dollar retreated mildly following comments from two FOMC members, including a known hawkish figure, reiterating expectations for three interest rate cuts within the year. Despite this, the retreat remains subdued as there is no guarantee yet for a June cut. Fed’s approach continues to be heavily influenced by incoming data. The greenback’s next move will
Two women hold an umbrella while sitting at an outdoor table of a cafe on April 01, 2024 in Rome, Italy. Emanuele Cremaschi | Getty Images News | Getty Images Inflation in the 20-nation euro zone eased to 2.4% in March, according to flash figures published by the European Union’s statistics agency Wednesday, boosting expectations for
Levi’s clothing is displayed at a Kohl’s store on April 06, 2023 in San Rafael, California. Justin Sullivan | Getty Images Levi Strauss, which has long relied on wholesalers like Macy’s and Kohl’s to drive its business, is now doing nearly half of its sales through its own website and stores, the company said Wednesday
Dow Jones gives away initial gains as investors digest Powell, US services data. US Services activity softened against expectations in March with the Prices Paid sub-index posting its lowest reading in years. Intel is leading losses in the Dow Jones after news of hefty losses in its foundry business. The Dow Jones Industrial Average (DJIA) has returned
USDCHF trades to the 200 hour MA and finds support The USDCHF earlier today reached up to the highest level of the year at 0.90949. However the last three or four hours have seen a rotation to the downside after the weaker than expected ISM nonmanufacturing data. Fed’s Powell also, the market at that sending
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 extended gains on Wednesday as investors worried about supply disruptions from a worsening geopolitical landscape, although a surprise jump in U.S. crude oil inventories eased some of those concerns. Brent crude futures rose 84 cents, or 0.9%, to $89.76 a barrel by 11:38 a.m. ET (1538 GMT). U.S. West Texas Intermediate futures rose
The forex markets showed rather muted response to the latest batch of economic data released today. Euro has continued its near-term recovery, unaffected by Eurozone’s lower than expected CPI flash data coming. This lack of response likely stems from the understanding that a slight miss in CPI figures does not significantly alter ECB plans for
Flat Rock, North Carolina, parked tractor trailer billboard with now hiring, Ingles supermarket. Jeff Greenberg | Universal Images Group | Getty Images Private sector job growth expanded in March at its fastest pace since July 2023, indicating continuing buoyance in the U.S. labor market, payrolls processing firm ADP reported Wednesday. Companies added 184,000 workers on
EUR/USD is rebounding from intraday-chart oversold lows. Eurozone inflation data on Wednesday could impact interest-rate expectations and the exchange rate. The recovery could rise a little further but the short-term trend remains bearish. EUR/USD is edging higher on Wednesday, making it back into the 1.0770s and extending the previous day’s rebound from six-week lows. It
A Bullish Beacon in Forex: The Unstoppable Rise of the Peso 📈 The Mexican Peso’s journey is a bright spot in the Forex markets, proving to be a treasure trove for those with the right strategy and the virtue of patience. Opinion: Mexican Pesos are strong and rising October’s Opportunity: Quick Dips and Steady Gains
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
April 3: Gold prices extended their record rally on Wednesday, buoyed by a weaker dollar and safe-haven demand from escalating tensions in the Middle East, while investors looked forward to more U.S. economic data for policy clues. FUNDAMENTALS * Spot gold edged 0.2% higher to $2,283.47 per ounce, as of 0055 GMT, after hitting an
Dollar stayed broadly firm in Asian session today, after rallying on robust manufacturing data and significant rebound in treasury yields overnight. The spotlight now shifts to upcoming comments from Fed officials, including Governor Michelle Bowman and New York Fed President John Williams, as markets seek clues about the central bank’s monetary easing path. The burning
Mexican Peso climbs on Greenback as Mexico’s stable Business Confidence overshadows climbing US Treasury yields. Mexico’s economic schedule will feature Gross Fixed Investment and upcoming Banxico minutes. Despite positive US job and factory order figures, the Greenback’s rally loses momentum. The Mexican Peso recovered some ground against the US Dollar on Tuesday after upbeat economic
The sellers are making a play in the S&P index, and in doing so has broken below a trendline on the hourly chart (near 5207), and also below is 100-hour moving average currently at 5198.39. Stay below those levels keep sellers in play AND control in the short term technically. On the downside, the price
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