Gold prices advanced on Monday, as the metal’s appeal was boosted by safe-haven demand owing to tensions in the Middle East, while markets raised bets that the Federal Reserve will cut rates as soon as March. Spot gold was up 0.2% at $2,052.10 per ounce, as of 10:34 a.m. ET (1534 GMT). U.S. gold futures
Euro trades mildly higher today after two known ECB hawks raised skepticism about a near term rate cut. Yet, upside momentum is somewhat tempered by weak trade and production data. Also, Euro is outshone slightly by Dollar, but the latter is also struggling to break out from familiar range other major currencies. Subdued trading could
German Chancellor, Olaf Scholz arrives for the weekly federal government cabinet meeting on Oct. 11, 2023 in Berlin, Germany. Michele Tantussi | Getty Images News | Getty Images Europe’s largest economy contracted by 0.3% year-on-year in 2023, as high inflation and firm interest rates bit into growth, the Federal Statistical Office of Germany said Monday. The estimate
Share: Silver price consolidates around $23.60 as trading volume is lower than average due to closed US markets. Investors are more confident about Fed reducing interest rates from March after soft US PPI data. Deepening Middle East tensions have improved safe-haven appeal. Silver price (XAG/USD) trades back-and-forth around $23.30 in a thin-volume trading session due
There is no particular headline driving the move but at the same time, risk appetite looks to be sapped after a mildly positive open earlier. European indices are now down around 0.1% to 0.3% with bond yields sitting a little higher on the day. The early flows are translating to a positive start for the
Gold traded in the green on Monday in the early trade extending gains for the third straight session riding on tension in the Middle East. The Dollar Index’s (DXY) weakness further aided its cause with the US producer price data last week renewing bets for an early rate cut by the Federal Reserve and thus
The forex markets commenced the week on a relatively quiet note, despite generally positive risk sentiment. This was highlighted by Japan’s Nikkei, which continued its impressive performance, breaking above 35k mark to reach new three-decade highs. The robust momentum could continue until the eagerly awaited BoJ meeting later in the month, where fresh economic forecasts
Share: Australian Dollar retraces its losses on risk-on sentiment. Australian job advertisements improved by 0.1% in December, from the 4.6% prior. PBoC former director Sheng Songchen stated that China’s property downturn might persist for another two years. US Dollar remains steady amid downbeat US bond yields. The Australian Dollar (AUD) attempts to recover its losses
The S&P index is open, higher and trading above and below the all-time highest close ever at 4796.57 The gains are modest. Yesterday, the S&P did move above that level again and backed off. Is today the day? S&P index is testing its all-time high closing level A snapshot of the market currently shows: Dow
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Oil prices rose more than 2% on Friday as the United States and Britain carried out strikes against Houthi military targets in Yemen in retaliation for attacks by the Iran-backed group on shipping in the Red Sea starting from late last year. Brent crude futures were up $1.81, or 2.3%, at $79.22 a barrel, while
Share: Marathon Digital Holdings plunged more than 15% on Friday. The peformance of MARA was in response to the crashing Bitcoin price, which lost about 8%. Heavy selling due to redemptions at the Grayscale Bitcoin Trust are to blame. MARA stock fell below an important support level and might continue trending lower toward support in
The USDCHF has moved lower after the weaker-than-expected PPI data. That news sent yields in the US tumbling to the downside, and has now pushed the price of the USDCHF below its 100 and 200 hour moving averages near 0.8508 (dollar selling). The low-price extended to the low-price from yesterday at 0.8487. Looking at the
UPCOMING EVENTS: Monday: PBoC MLF, US Markets closed for MLK Day, BoC Business Outlook Survey. Tuesday: UK Labour Market report, Canada CPI, Fed’s Waller. Wednesday: China Industrial Production and Retail Sales, UK CPI, US Retail Sales, US Industrial Production, US NAHB Housing Market Index. Thursday: Australian Labour Market report, ECB Minutes, US Building Permits and
MCX Gold and Silver contracts, mastering key technical indicators is crucial for making informed decisions in the dynamic precious metals market. This exploration centers on the effective use of Moving Averages, particularly the Exponential Moving Averages (EMAs) 8 and 21, for identifying trends, potential reversal points, and implementing risk management strategies. Moving Averages (MA) –
Saudi Arabia nearly doubled the estimate for the value of its mineral resources and is seeing lucrative deals signed during its Future Minerals Forum held in Riyadh this week, ministers told CNBC. Estimates for the kingdom’s untapped mineral reserves have jumped from $1.3 trillion in a 2016 forecast to $2.5 trillion, according to Saudi Mineral Resources
In this article DAL Follow your favorite stocksCREATE FREE ACCOUNT Airbus A330neo widebody aircraft meant for Delta Air Lines being tested in Toulouse, France. Nurphoto | Nurphoto | Getty Images Delta Air Lines closed out the year by doubling its quarterly profit as travel demand, particularly for international trips, helped drive record revenue in 2023.
Share: The Swiss Franc gained slightly against the Greenback on Friday after US Producer Price Index data fell short of estimates. Overall PPI fell and core factory gate prices flatlined for three consecutive months. The data substantially increases the probabilities of interest rates falling in the US in the future. The Swiss Franc (CHF) gained slightly on Friday