Gold prices edged higher on Friday, but were on track for their second consecutive weekly fall as data indicating strong growth in the U.S. economy kept the dollar firm, while focus shifted to a key inflation print due later in the day. FUNDAMENTALS * Spot gold was up 0.1% at $2,021.79 per ounce by 0155
Dollar falls mildly in early US trading hours, following the release of core PCE inflation data which indicated a slightly sharper than expected slowdown. However, this weakness in Dollar is somewhat counterbalanced by unexpectedly robust growth in consumer spending. Despite these movements, Dollar remains within its established trading range, with a decisive breakout yet to
People walk by sale signs in the Financial District on the first day back for the New York Stock Exchange (NYSE) since the Christmas holiday on December 26, 2023 in New York City. Spencer Platt | Getty Images An important inflation gauge released Friday showed that the rate of price increases cooled as 2023 came
In this article MC-FR Follow your favorite stocksCREATE FREE ACCOUNT Bernard Arnault, Chairman and CEO of LVMH Moet Hennessy Louis Vuitton, speaks during a press conference to present the 2023 annual results of LVMH in Paris, France, January 25, 2024. Benoit Tessier | Reuters LVMH shares jumped more than 8% on Friday morning, after the
Share: Pound Sterling rebounds as market mood improves on soft US core PCE price index data. High UK inflation would allow BoE policymakers to maintain a hawkish tone on interest rates. The US Dollar falls sharpy on softer inflation outlook. The Pound Sterling (GBP) bounces back strongly as the US Core Personal Consumption Expenditure (PCE) Price
The AUDUSD is mired in a narrow 70-pip trading range this week. The low was reached at the high of a swing area at 0.65504 (swing area down to 0.65417). The high reached up to the high of a swing area between 0.6612 to 0.66215. In between is the 200 day MA and the 50%
US inflation data is due on Friday, 26 January 2024 at 8.30 am US Eastern time: I posted a preview here: The US data day kicks off at 8.30am US Eastern time. For the m/m core PCE inflation the consensus (seen in the screen shot above) is 0.2% with a range of expectations at 0.1
Gold edged higher on Thursday as Treasury yields fell after US GDP data highlighted that pace of inflation fell, while focus shifted to PCE data for further hints on the Federal Reserve’s interest rate cut strategy. Spot gold rose 0.5% to $2,022.84 per ounce by 10:14 a.m. ET (1514 GMT). U.S. gold futures rose 0.4%
Commodity currencies bounce in early US session, spurred by unexpectedly robust US GDP data that has invigorated stock futures. This surge in risk appetite is exerting some pressure on Dollar, although the impact remains relatively contained for the moment. The sustainability of this risk-on sentiment is still in question, which will be critical for the
European Central Bank President Christine Lagarde looks on as she attends the European Parliament’s Committee on Economic and Monetary Affairs, at the European Parliament, in Brussels, Belgium September 25, 2023. Yves Herman | Reuters President Christine Lagarde on Thursday said she was “proud and honored” to leead the European Central Bank, after her leadership was
In this article INTC Follow your favorite stocksCREATE FREE ACCOUNT Pat Gelsinger, CEO Intel, speaking on CNBC’s Squawk Box at the WEF Annual Meeting in Davos, Switzerland on Jan. 16th, 2024. Adam Galici | CNBC Intel shares dropped in extended trading on Thursday after the chipmaker issued an outlook for the first quarter of 2024 that
Share: Australian Dollar could gain ground on bullish momentum. Australia’s Dollar cheered the improved prices of copper and iron. US Dollar could extend its gains following the firmer-than-expected US GDP figures. US GDP Annualized (Q4) came in at 3.3% above the market consensus of 2.0%. The Australian Dollar (AUD) strives to build on its recent
The NZD is the strongest and the CHF is the weakest as the NA session begins. The USD is mixed to lower to start the North American session. The ECB will announce at their rate decision with expectations of no change in policy. That will take place at 8:15 AM ET. ECB Pres. Lagarde will
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Strong economic data in the US seemed to have spoiled the party for Gold in back-to-back sessions as the yellow metal traded in the red on Thursday despite a minor uptick in the dollar index (DXY). While Street is expected to assess more economic indicators to guess the Fed’s move on the interest rate front,
Range trading continues in most major pairs and crosses for the week so far. Dollar’s selloff was relatively short-lived overnight, as US stocks retreated rather deeply after initial rally. There is sign of profit-taking in equities, which could curb any selling pressure in the greenback in the near term. However, Dollar’s next move remains contingent
The economy grew at a much more rapid pace than expected in the final three months of 2023, as the U.S. easily skirted a recession that many forecasters had thought was inevitable, the Commerce Department reported Thursday. Gross domestic product, a measure of all the goods and services produced, increased at a 3.3% annualized rate
In this article LUV BA Follow your favorite stocksCREATE FREE ACCOUNT Southwest Airlines ranked as the second-best domestic airline, according to Bounce’s 2023 Airline Index. Aaronp/bauer-griffin | Gc Images | Getty Images Southwest Airlines has taken the Boeing 737 Max 7 out of its fleet plans as regulators haven’t yet certified the smallest model of