St. Louis Fed names Alberto G. Musalem as new president. Source: St. Louis Federal Reserve Economist Alberto Musalem was named the next president and CEO of the Federal Reserve Bank of St. Louis on Thursday. Musalem, 55, will start on April 2. He succeeds James Bullard, who joined Purdue University last August. The St. Louis
In this article WBA Follow your favorite stocksCREATE FREE ACCOUNT Walgreens reported fiscal first-quarter adjusted earnings and revenue that topped expectations on Thursday, but cut its quarterly dividend nearly in half. The retail pharmacy giant slashed its dividend to 25 cents per share from 48 cents per share to “strengthen [its] long-term balance sheet and cash
Share: USD/CAD falls sharply to near 1.3320 amid a correction in the USD Index. Investors await the US/Canada labour market data for further guidance. The Loonie asset struggles to break above the 23.6% Fibo retracement. The USD/CAD pair falls sharply after failing to extend upside above 1.3370. The Loonie asset has dropped to near 1.3320
The AUDUSD moved lower for the 4th consecutive day. In the process, the price will down toward its 50% midpoint of the move up from the December low. A level comes at 0.66975. Low price for the day reached just above the 0.6700 level at 0.6701 and bounced. That bounce moved back up to retest
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 steady on Thursday amid a minor downtick in the dollar index (DXY). Taking cues from the international market, MCX February gold futures were trading with a positive bias in the opening trade. They were hovering at Rs 62,750 per 10 grams, up by Rs 243 or 0.39% from Wednesday’s closing price. Meanwhile, the
Major US stock indexes closed lower overnight, after FOMC minutes revealed Fed might be hesitance to lower interest rates soon. Notably, the likelihood of a March interest rate cut, as inferred from Fed funds futures, dipped below the 70% market following the release of the minutes. Dollar, however, is encountering challenges in gaining further momentum
Skyline of Riyadh in Saudi Arabia. Simon Dawson | Bloomberg | Getty Images Saudi Arabia’s Public Investment Fund (PIF) was the top spender among global sovereign wealth funds last year, accounting for about a quarter of the $124 billion splashed by state-owned investors, according to a preliminary report by research consultancy Global SWF. The Saudi
Share: GBP/USD clings to mild losses near 1.2665 on the firmer USD. Richmond Fed Barkin said the potential for additional rate hikes remains on the table. The fear of recession in the UK economy weighs on the British pound (GBP). Investors await the UK Composite PMI and the US ADP Employment Change. The GBP/USD pair
It’s been a rough start for the tech-heavy Nasdaq index as it fell -1.18% today. That comes after a -1.63% decline on the first trading day of the year (yesterday). Today, the declines were broad-based with the Dow Industrial Average, the S&P index, the Russell 2000, and the NASDAQ all declining by at least -0.77%.
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 prices plunged Rs 230 to Rs 63,970 per 10 grams in the national capital on Wednesday amid a bearish trend in the overseas markets, according to HDFC Securities. In the previous trade, the yellow metal ended at Rs 64,200 per 10 grams. Silver also tumbled Rs 400 to Rs 78,400 per kilogram, while it
Dollar is having a renewed attempt to extend its near-term rebound, buoyed by mild risk-off sentiment prevalent in Europe and US premarkets. This resurgence in the greenback’s strength coincides with ongoing selloff in technology stocks, which has now extended to major Asian markets, with key indexes in South Korea and Taiwan closing down. Additionally, Dollar
A job seeker visits a Job News USA career fair in Louisville, Kentucky, on June 23, 2021. A new Kentucky law cuts the maximum duration of unemployment benefits by more than half, to 12 weeks, during periods of low unemployment. Luke Sharrett | Bloomberg | Getty Images Demand for workers fell to its lowest level
Share: Gold price pares intraday gains as bets in favour of early rate cuts by the Fed drop slightly. Action in the FX domain could turn volatile as FOMC Minutes and Manufacturing PMI are due for release. The US Dollar Index recovers as upbeat sentiment-based rally pauses. Gold price (XAU/USD) surrenders gains generated in the
The Nasdaq index is trading back down toward its lows for the day. The index is down -274 points or -1.80% at 14740.31. The low for the day reached 14723.75 today. The fall is the largest decline since October 25. Since that fall, the index had been up for 9-consecutive weeks. Nasdaq index is sharply
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 a tight range on Wednesday as the Street awaits FOMC minutes of the December monetary policy to get more clarity on the direction of the Fed’s decision-making, going ahead. The minutes will be released later today. Taking cues from the international market, MCX February gold futures were trading lackluster in the opening