China’s Manufacturing PMI from the National Bureau of Statistics (NBS) for December has come in at its third straight month of contraction at 49.0, much worse than was expected from 49.5 expected and 49.4 in November Services at 50.4, a slight miss 50.5 expected and 50.2 in November Composite is 50.3, from 50.4 in November.
Gold prices gained +13% for the year ending 2023 after two years of lull returns- fuelled by the rising geo-political tensions during the year ( Russia-Ukraine, Israel- Gaza,) alongside the notion of toning down of the prevailing steep interest rates cycle, as policymakers have been successful in bringing down the inflation levels from four decades
Share: USD/JPY stuck to 141.00 as markets head towards 2024. Greenback shed a third of a percent against the Yen on the last Friday of 2023. USD/JPY down a full percent on the week, but up 7% on the year. The USD/JPY is back into the 141.00 handle as the pair struggles to accelerate momentum
The major US stock indices could not keep the momentum going and is ending the day and the year with a down day. The declines today, however, were not large enough to close the week lower. As a result, the major indices are ending higher for the 9th consecutive week to end a strong year
Oil prices are set to end 2023 about 10% lower, the first annual decline in two years, after geopolitical concerns, production cuts and global measures to rein in inflation triggered wild fluctuations in prices. Brent crude futures were up 18 cents, or 0.2%, at $77.33 a barrel at 0126 GMT on Friday, the last trading
Share: Gold price falls back $2,065 as the impact of deep Fed rate cut hopes start fading away. The Fed is expected to start cutting interest rates from March 2024. Next economic triggers for the Gold price will be US Employment and Manufacturing PMI data. Gold price (XAU/USD) has extended its correction but a consolidation is likely ahead
US 10 year yield below the closing level from 2022 The US 10-year yield is trading at 3.844% currently. That is down 4.0 basis points on the day. The decline today is moving the yield below the closing level from the end of 2022 at 3.886%. The last five trading days have been trading above
Happy New Year It was a lively year in the FX market with the yen going on a particularly wild ride but ultimately it was the Swiss franc that came out on top as USD/CHF fell nearly 9%. At the other end of the spectrum was the Japanese yen as it was the G10 laggard
Commodity prices witnessed a mixed sentiment last year. Despite gold rallying to record highs, demand concerns due to the softening of the global economy adversely hit the prices of energy and base metals. Gold was the best-performing asset in the commodities gaining more than 15 percent in 2023. It hit an all-time high of $2135
Share: The Euro wavers around 1.1050 in a choppy year-end trading session. Investors bets on Fed cuts in 2024 keep USD buyers in check. US data released on Thursday strengthened the case for a soft landing in Q4. The Euro (EUR) is trading moderately lower on Friday, weighed by a mild US Dollar recovery in a
SPX yearly Oh to have a time machine. A look at long-term US equities is a humbling exercise. The index started 1994 at 466, and while it suffered a loss that year, it has since risen 10-fold, paying dividends along the way. That’s an incredible 30-year return. Skip ahead to the final trading day of
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 were set on Friday for their best year in three on strong bets of U.S. interest rate cuts early next year and as the war in Ukraine and tensions in the Middle East lifted safe-haven demand. FUNDAMENTALS * Spot gold was up 0.2% at $2,068.95 per ounce, as of 0233 GMT. It has
Pedestrians carrying Nike and Allbirds shopping bags in the SoHo neighborhood of New York on Oct. 24, 2021. Nina Westervelt | Bloomberg | Getty Images After years of unbridled consumer spending on everything from home improvement to dream vacations, some companies are now finding the limits of their pricing power. Shipping giant FedEx last week
Share: USD/JPY remains above the 141.00 psychological level amid a weaker US Dollar. The immediate resistance could be at the 141.50 major level following the 142.00 level. Technical indicators suggest a bearish sentiment to retest the 141.00 psychological support. USD/JPY continues to experience declines, driven by the weakening US Dollar (USD) influenced by subdued US
The strongest to the weakest of the major currencies The CHF is the strongest and the AUD is the weakest as the NA session begins. The USD is mixed to lower thanks to declines vs the JPY and CHF. There are modest gains vs the GBP, CAD, AUD and NZD. Today, US initial jobless claims
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 declined marginally in the last trading session of 2023. Despite a slight dip, gold prices clocked their best year in three, as expectations regarding US interest rate cuts early next year and the war in Ukraine and tensions in the Middle East lifted safe-haven demand. The February gold futures were trading at Rs