In this article C Follow your favorite stocksCREATE FREE ACCOUNT Jane Fraser, CEO of Citigroup, attends a hearing on Annual Oversight of Wall Street Firms before the Senate Committee on Banking, Housing, and Urban Affairs in Washington, D.C., the United States, on Dec. 6, 2023. Tom Williams | Cq-roll Call, Inc. | Getty Images Citigroup
Share: GBP underperforms after mixed GDP data for November. Economists at Scotiabank analyze Cable’s outlook. Intraday support is 1.2690/1.2700 UK November GDP rose a stronger than expected 0.3% MoM but fell slightly more than forecast in the 3M/3M comparison (-0.2%). November GDP data suggest economic growth trends remained weak late last year, with a Q4
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 Summary of Economic Projections showed a downward revision to Growth and Core PCE in 2024 while the Unemployment Rate was left unchanged. Moreover, the Dot Plot was
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
Gold traded in the green on Friday in the opening trade amid slippages in the dollar index (DXY) and on tensions in the Middle East that raised its haven appeal. Despite the uptick, the yellow metal is set to close with the second weekly decline. Taking cues from the international market, MCX February gold futures
Dollar’s fleeting post-CPI rally was very short-lived. The greenback quickly reversed its initial gains and has since been trading within a narrow range against other major currencies. Traders appear relatively unfazed by the stronger than expected inflation readings, with markets still pricing in more than 70% chance on Fed cutting interest rate in March. This
Ongoing disruption to trade flows through the Red Sea could hit global economic growth, the head of one of the world’s largest container shipping firms said Thursday. Maersk CEO Vincent Clerc said it remained unclear whether passage through the waterway would be re-established in “days, weeks or months,” in comments first provided to the Financial
In this article JPM Follow your favorite stocksCREATE FREE ACCOUNT Jamie Dimon, CEO of JPMorgan Chase, testifies during the Senate Banking, Housing and Urban Affairs Committee hearing titled Annual Oversight of Wall Street Firms, in the Hart Building on Dec. 6, 2023. Tom Williams | Cq-roll Call, Inc. | Getty Images JPMorgan Chase is scheduled
Share: The US and UK forces carried out attacks against multiple Houthi targets in Houthi-controlled regions of Yemen on Thursday, according to CNN. The strikes are a significant reaction after the Biden administration and its allies warned the Houthi that the consequences of repeated drone and missile attacks on commercial ships in the Red Sea
The AUDUSD moved lower with the dollar buying today and in the process, fell below a floor at 0.66767 that defined the low of what has been a narrow trading week (from low to high only about 60 pips). The extension lower saw the price extend to a new low for the week to 0.6646
US CPI was the big event for the day and the big event for the week as well. The month-to-month data showed 0.3% increases for both the headline and the core. The YoY saw the core come down to 3.9% vs 4.0% last month but it was higher than the 3.8% expected. The headline CPI
Gold prices edged higher on Thursday, supported by a softer dollar ahead of a consumer inflation report due later in the day that could shed some light on the U.S. Federal Reserve’s interest rate trajectory. FUNDAMENTALS * Spot gold was up 0.2% at $2,028.19 per ounce, as of 0135 GMT. U.S. gold futures rose 0.3%
The financial markets’ initial reactions to stronger than expected US CPI readings are relatively subdued. While there was an immediate response with Dollar and yields rising, and stock futures dipping, these movements lacked significant follow-through. The exception in the currency markets was USD/JPY, which broke through last week’s high. However, this move is attributed to
The U.S. Treasury building in Washington, D.C., on Aug. 15, 2023. Nathan Howard | Bloomberg | Getty Images The U.S. government ran up another half a trillion dollars in red ink in the first quarter of its fiscal year, the Treasury Department reported Thursday. For the period from October 2023 through December 2023, the budget
Share: USD edges marginally lower ahead of the December Consumer Price Index (CPI) report. Shaun Osborne, Chief FX Strategist at Scotiabank, analyzes how US inflation data could impact the Dollar. Markets are looking for soft inflation data Price action suggests that markets are looking for soft inflation data – a decent bet as recent US inflation
S&P indexes closer to its all-time high closing level The major stock indices are trained to new session highs. In the process, the S&P index is now within about 12- 13 points of its all-time high closing level of 4796.57. The high-priced just reached 4784.73. The high-priced reached near the end of December reached 4793
Yields are lower and stocks are slightly higher but the dollar is finding itself in a steadier spot so far on the session. It was slightly softer earlier in Asia but now, we are seeing dollar pairs keep little changed with most trading flattish. That being said, the ranges for the day leave a lot
Gold traded in a tight range in yet another session on Thursday though the bias was positive following a fall in the dollar index (DXY) ahead of the US inflation print due later today. Taking cues from the international market, MCX February gold futures were trading in the green, around Rs 62,100 per 10 grams,