Gold languished near a two-month low on Wednesday, trading below the key $2,000 per-ounce level, after a stronger-than-expected U.S. inflation report dampened expectations for more than three quarter-point rate cuts from the Federal Reserve. FUNDAMENTALS * Spot gold was down 0.1% at $1,991.09 per ounce (Oz), as of 0146 GMT, after hitting its lowest since
Sterling is taking a modest step back today, responding to UK’s latest inflation report that came in below market expectations. Despite this, the actual figures for both headline and core CPI merely held their ground compared to the previous month’s readings, signaling continued pause in disinflationary progress. Additionally, the report highlighted a slight uptick in
Pro-EU demonstrators protest outside Parliament against Brexit on the fourth anniversary of Britain’s official departure from the European Union in London, United Kingdom on January 31, 2024. Future Publishing | Getty Images LONDON — Post-Brexit Britain has “significantly underperformed” other advanced economies since the 2016 EU referendum, according to new analysis from Goldman Sachs, which
In this article 6758.T-JP Follow your favorite stocksCREATE FREE ACCOUNT Sony cut its sales forecast for its flagship PlayStation 5 console on Wednesday, after warning of weaker transactions in its key gaming division. The Japanese gaming giant said it now expects to sell 21 million units of the PS5 in the fiscal year ending March,
Share: United Kingdom CPI rose 4.0% YoY in January vs. 4.2% forecast. Monthly British inflation fell to -0.6% in January vs. -0.3% estimate. GBP/USD drops below 1.2600 on UK CPI inflation data. Consumer Price Index (CPI) in the United Kingdom (UK) rose at an annual rate of 4.0% in January, steadying from that seen in
WTI crude oil futures are settling at $77.87. That’s up $0.95 or 1.24%.The high price today reached $78.47. The low price was at the $76.87. Crude oil is back between the 200 and 100 day MAs now Looking at the daily chart of crude oil, at session highs, the price did extend above its 100-day
The dollar is not really building on its post-CPI gains so far today, as it is keeping just a touch lower as we look towards European trading. While things are still looking up for the dollar, the next leg higher might not come by so easily. Broader markets are also keeping more tentative so far,
Gold prices extended their decline to Wednesday on the uptick in the dollar index (DXY) following a higher-than-expected US inflation numbers which have further dashed hopes of an imminent rate cut by the Federal Reserve. Bullion traded in the red in the opening trade today with MCX April gold futures at Rs 61,422 per 10
Dollar maintains its position as the week’s top performer so far, following notable upside breakouts, while Asian markets remain relatively quiet. Without major economic releases from US today, the greenback could have a breather first. However, attention is set to return later in the week with the release of retail sales and the University of
Federal Chancellor Olaf Scholz (SPD, r-l), Robert Habeck (Alliance 90/The Greens), Federal Minister for Economic Affairs and Climate Protection, and Christian Lindner (FDP), Federal Minister of Finance, follow the debate at the start of the budget week. Michael Kappeler | Picture Alliance | Getty Images Good news has been sparse for the German economy. And
In this article ABNB Follow your favorite stocksCREATE FREE ACCOUNT Brian Chesky, co-founder and chief executive officer of Airbnb Inc., at the Hope Global Forums annual meeting in Atlanta, Georgia, US, on Tuesday, Dec. 12, 2023. Dustin Chambers | Bloomberg | Getty Images Airbnb reported better-than-expected revenue for the fourth quarter on Tuesday and issued
Share: Mexican Peso tumbles as US CPI data exceeds forecasts, boosting the US Dollar. Unexpectedly high US inflation in January shifts market outlook, questioning the Fed’s upcoming interest rate decisions. Mexico’s economic calendar is light on Tuesday with attention turning to next week’s Retail Sales, GDP and inflation reports. Banxico’s Rodriguez Ceja emphasizes ongoing disinflationary
The NASDAQ index is down over 1.5% on the day after the higher-than-expected CPI data.The higher CPI has pushed off the expectations for the first rate cut. The market is now pricing in the most likely chance for cut in June or July with a 79% chance for cut in June and a 92% chance
EURUSD daily The euro is in an interesting spot. It fell to the lowest since November 13 today but is now trying to creep back above the Dec/Jan double bottom. It coes with some moderate bids in the stock market as well. There is one camp around the CPI report that says it’s a game-changer
Vienna, Feb 13, 2024 -The OPEC oil cartel said Tuesday it expects robust economic activity in China and air travel to drive strong global demand growth for oil this year. Its outlook contrasts that of the International Energy Agency (IEA), which advises oil-consuming nations, which last month predicted that oil demand growth would halve on
Dollar rises significantly in early US session supported by the latest consumer inflation data, which also triggers a marked in DOW futures, dropping by over -300 points. Concurrently, 10-year Treasury yield is soaring near 4.3% mark. Most critically, the inflation data revealed that core CPI remained unchanged at 3.9% in January. This stagnation in core
Inflation rose more than expected in January as stubbornly high shelter prices weighed on consumers, the Labor Department reported Tuesday. The consumer price index, a broad-based measure of the prices shoppers face for goods and services across the economy, increased 0.3% for the month, the Bureau of Labor Statistics reported. On a 12-month basis, that
In this article HAS Follow your favorite stocksCREATE FREE ACCOUNT A monopoly game sits under the Hasbro logo during Brand Licensing Europe at ExCeL in London, England, on Nov. 18, 2021. John Keeble | Getty Images Toy company Hasbro reported a more than 20% hit to its fourth-quarter revenue and issued a downbeat 2024 forecast