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
Amid a slow start for gold in 2024, spotting trends and outlook for gold and silver prices will carry significant weight. One such opportunity has come in the form of recent corrections in bullion. Buy on dips The recent nuanced landscape in gold prices, marked by a drop from 64,000 to 61,000, unveils a compelling
A pedestrian holds an umbrella as they walk along a street in the rain in Times Square, New York, on Sept. 26, 2023. Ed Jones | AFP | Getty Images The state of the U.S. economy may be a chief concern among Americans, but 2023 wound up as a pretty good year for the macroenvironment.
Share: DXY Index retreats after the latest string of US data holds onto weekly gains United States NFPs from December were higher than expected, as well as Average Hourly Earnings, while the Unemployment Rate stood at 3.7%. The Services ISM PMI from the same month was disappointing. The US Dollar (USD), represented by the Dollar
The AUDUSD has reversed back higher with the overall USD selling after the weaker ISM services data and the ambiguous US jobs report. The move higher has now taken the price back above the close from yesterday at 0.6706. A close above would snap a 5-day losing streak in the pair which saw the price
Zhongzhi is a shadow banking-linked wealth manager with major exposure to the property sector. Its not a bank so manages to operate outside many of the prudential and regulatory rules governing commercial banks. Shadow banking firms typically sell ‘wealth products’ to retail and channel the proceeds to real estate developers and other sectors. the filing
Gold prices were on track for their first weekly fall in four on Friday, as waning expectations of an early interest rate cut in the U.S. boosted the dollar, while investors focussed on a key employment report due later in the day for more rate clues. FUNDAMENTALS * Spot gold was up 0.1% at $2,054.10
The onset of 2024 marked a notable shift in global market sentiment. Major U.S. stock indexes ended their nine-week winning streak, closing lower, while major benchmark treasury yields experienced a notable recovery. Concurrently, this shift in market dynamics was accompanied by a scaling back of bets on an immediate rate cut by Fed. Amidst these
Hiring in the private sector rose at a faster-than-expected pace in December, closing out a strong 2023 for the resilient U.S. jobs market, ADP reported Thursday. Private payrolls increased by 164,000 for the month, a substantial rise from the downwardly revised 101,000 in November and better than the 130,000 estimate from the Dow Jones consensus,
Share: EUR/USD whipped in hectic Friday action following Eurozone inflation, US labor data. European inflation continues to hamper the ECB, while US jobs data beat the street. EUR/USD wraps up the week near 1.0940. The EUR/USD fell to a three-week low on Friday after European inflation rebounded higher in December, with the Eurozone Harmonized Index
The major stock indices are giving up their gains. Dow is now down -82 points or -0.22% at 37357. The high saw the indes up 183.27 points S&P is up 1.29 points or 0.03% at 4689.80. At session high, the index was up 32.80 points Nasdaq is up 13.6 points or 0.09% at 14524.44. At
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
Following two consecutive years of underperformance, gold made a swift turnaround in 2023, gaining more than 15% in the international market. Multiple catalysts like geopolitical tensions, US Fed policy decisions, a volatile US currency, and a pessimistic global growth outlook reinforced its safe-haven status. The Russia-Ukraine war and the unforeseen events in West Asia due
The U.S. labor market closed out 2023 in strong shape as the pace of hiring was even more powerful than expected, the Labor Department reported Friday. December’s jobs report showed employers added 216,000 positions for the month while the unemployment rate held at 3.7%. Payroll growth showed a sizeable gain from November’s downwardly revised 173,000.
Share: The Canadian Dollar is etching in a broad range on NFP Friday. Canada jobs additions crumble, US jobs easily beat the street. Despite weak labor figures, Canadian wage pressures persist. The Canadian Dollar (CAD) slumped to a new low for the week against the US Dollar (USD) before surging to a three-day high as
The 10-year yield has moved back to the upside with the yield back above 4.0% and up to 4.05%. The high reached 4.10% soon after the jobs report, and then fell sharply to 3.955% at session lows, before starting it’s move back to the upside. Below 4% being rejected. Now with the yield moving back
S&P 500 weekly Closing changes on the day: S&P 500 up 0.2% DJIA +0.1% Russell 2000 -0.2% Nasdaq Comp +0.1% Toronto TSX Comp +0.2% Closing changes on the week: S&P 500 down 1.5% DJIA -0.6% Russell 2000 -3.6% Nasdaq Comp -3.25% Toronto TSX Comp -0.3% Coming into this week, the S&P 500 and Nasdaq had
Helped by weaker-than-expected US ISM services data that negated the impact of an encouraging non-farm payroll report, spot gold recovered in an extremely volatile session on Friday to close with a gain of 0.12% at $2,046. However, despite an impressive recovery from Friday’s low of $2,024, the metal closed with a loss of around 0.80%