The year 2023 was not the best of times for base metals. Besides copper, which managed to hold ground, most other base metals experienced a tough period due to China’s economic woes, feeble global growth outlook, higher interest rates and oversupply fears. Copper ended the previous year with a gain of 2% while aluminium and
In this article ALK BA Follow your favorite stocksCREATE FREE ACCOUNT Alaska Airlines N704AL, a 737 Max 9, which made an emergency landing at Portland International Airport on January 5 is parked at a maintenance hanger in Portland, Oregon on January 23, 2024. Patrick T. Fallon | AFP | Getty Images Alaska Airlines said Thursday
Share: S&P 500, NASDAQ Composite end six-day record streaks. Despite weaker Friday, US indexes closed in the green for a third straight week. US Fed on the docket for next week. US equities closed mixed on Friday to cap off a week of stunning record closes. Over-eager markets that have been leaning into rate cut
In the kickstart video, I take a look at three other major currency pairs from a technical perspective – the EURUSD, USDJPY and GBPUSD. There was a slew of economic data in the US highlighted by the Advanced GDP for the 4th quarter which showed strong growth and tame inflation, and initial jobless claims which
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
Venturing into the realm of options trading in MCX Gold and Silver can open new avenues for traders seeking to manage risk and enhance returns. Here, we explore four strategies that traders can employ to navigate the dynamic precious metals market effectively. Bull Call Spread: In a Bull Call Spread strategy, a trader simultaneously buys
The past week in the financial markets was a blend of the anticipated and the unforeseen, creating a cloud of indecision among traders. Central bank decisions by ECB, BoC, and BoJ unfolded largely as anticipated. But BoJ’s slightly hawkish communication provided a temporary lift to Yen. Despite ECB President’s cautious stance, traders continued to bet
In this article CMCSA Follow your favorite stocksCREATE FREE ACCOUNT Omar Marques | Lightrocket | Getty Images Comcast topped both revenue and profit estimates in the fourth quarter as it lost fewer broadband subscribers than expected, and it raised its dividend 7%, the company said Thursday. Here’s how Comcast performed, compared with estimates from analysts surveyed
Share: DXY Index records a loss, unable to consolidate past 200-day SMA but closes a 0.20% winning week. Core PCE figures from December came in weak. Markets are still pushing the start of the Fed’s easing cycle to May. The US Dollar (USD) Index is presently grappling with losses, trading at 103.35 on the DXY,
The USDCAD moved sharply higher yesterday after the Bank of Canada interest rate decision. The price moved up toward the high price of last week at 1.35411, but fell short of that target. The subsequent move to the downside today took the price back down toward its 200 day moving average at 1.3483. Other moving
Markets: CAD leads, JPY lags S&P 500 down 0.1% US 10-year yields up 1.5 bps to 4.15% Gold down $1 to $2018 WTI crude oil up $0.81 to $78.17 The market didn’t know exactly what to do with the US PCE report. On the hawkish side, the headline PCE number wasn’t as cool as GDP
Oil prices eased in early trading on Friday, but were set to close higher for the week on positive economic data from the United States and China and a draw in U.S. crude stocks. Brent crude futures eased 32 cents, or 0.39%, to $82.12 a barrel by 01:15 GMT. U.S. West Texas Intermediate crude fell
The subdued trading in the forex markets observed through the week continued in today’s Asian session. Despite numerous central bank decisions and key economic data releases, most major currency pairs and crosses are staying within last week’s range. Euro, as the worst performer. so far is a notable exception. This lackluster performance seems tied to
Residents waiting at a bus stop under a large Turkish flag in Istanbul, Turkey, on Sunday, April 30, 2023. Bloomberg | Bloomberg | Getty Images Turkey’s central bank on Thursday hiked its key interest rate by another 250 basis points to 45%. The hike to the benchmark one-week repo rate was in line with economists’ expectations.
Jeans are displayed at a Levi Strauss store in New York, March 19, 2019. Shannon Stapleton | Reuters Levi Strauss will lay off at least 10% of its global corporate workforce as part of a restructuring, the apparel retailer said Thursday. The job cuts will take place in the first half of the year, and
Share: EUR/USD reclaims territory near 1.0880 after drop into 1.0820. German Consumer Confidence declined to 11-month low. US PCE inflation eased more than expected, but spending remained high. EUR/USD recovered recent losses on Friday, recovering back into familiar technical levels. Still, overall gains remained limited after German Consumer Confidence backslid to almost a one-year low
USD The Fed left interest rates unchanged as expected at the last meeting with a shift in the statement that indicated the end of the tightening cycle. The US GDP beat expectations by a big margin. The latest US CPI slightly beat expectations but analysts expect the Core PCE to print at 0.2% M/M again
Today’s PCE report had mixed implications for the Federal Reserve. The spending numbers were strong, suggesting that the consumer remains strong but core and headline inflation fell once again. The Fed has repeatedly pointed to core PCE and it tracked down to 2.9% y/y from 3.0% previously as the covid recovery continues. PCE core y/y