The major US indices are trading higher after tame core and headline PCE data out of the US this morning. The good news is inflation is melting away. There is some worry, however. Nike reported their earnings after the close yesterday and their guidance was not all that rosy. Shares of Nike are trading down
The price of crude oil futures are settling at $73.56, down -$0.33 or -0.45%. The high price reached $74.95. The low price extended to $73.41. For the trading week, crude is up for the second consecutive week. The price is up $1.81 or 2.53%. Last week the price rose $0.54 or 0.75%. For the trading
Gold prices rose to their highest level in nearly three weeks on Friday as the dollar and bond yields fell ahead of key U.S. inflation data that could offer more clarity on the Federal Reserve’s interest rates path next year. Spot gold was up 0.8% to $2,061.60 per ounce at 1225 GMT and U.S. gold
Share: The Mexican Peso hit a 15-week high against the US Dollar on Friday. Mexico’s unadjusted Trade Balance hit a nine-month high in November. Friday marks the last trading day before the holiday break. The Mexican Peso (MXN) rallied to a fresh 15-week high on Friday as the broader market took one last opportunity to
EURUSD trades to highest since August 2023 The EURUSD has moved to a new week high and high going back to August 10. The next key target is that August 10 high at 1.10648. The high price today reached 1.10395 today. A move above 1.10648 will have traders targeting a swing area on the daily
Major US stock indices are closing the day mixed. The Dow Industrial Average is modestly lower while the S&P and NASDAQ closed higher on the day. For the trading week, all the major indices were higher for the eighth consecutive week gain. A snapshot of the closing level shows: Dow Industrial Average fell -18.54 points
Gold prices finished above $2,000 for the fifth straight week, with Comex Feb futures ending the week at $2066.90, up by 2.4% as the dollar lost the plot to dip sharply to five-month lows of 101.4 level after the release of PCE data on Friday. Gold prices are up 13% ytd heading into the last
Share: The GBP/USD is holding on the high side after US PCE inflation settled further on Friday. UK Retail Sales grew in November, Pound Sterling bidders shrug off UK GDP QoQ decline. US Dollar flows are decidedly bearish, propping up the broader market. The GBP/USD is on the high side amidst some rough chop in
The forex markets have entered a quieter phase in Asian session, likely influenced by the holiday season, leading to reduced market activity. This calm follows an overnight sell-off of Dollar, driven by renewed risk-on sentiment as seen in the stock markets. Despite this shift, the Dollar has not experienced further selling pressure in Asia. Market
GBPUSD buyers trying to push higher (again) The GBPUSD buyers are trying to push the pair above a swing area and into more open space. Having said that, the buyers are “trying”. The swing area is between 1.2723 and 1.2732 (see red numbered circles on the chart above). Looking at the chart above, there has
The year is working to an end, but before markets slow to a trickle next week, there was one more key economic release today. The headline and core PCE data – the favored inflation quide for the Fed – was released at 8:30 AM ET, and it showed a lower than expected gain of 0.1%
Gold scaled a more than two-week high on Friday, rising for a second week as the dollar and U.S. Treasury yields slipped on rising expectations the Federal Reserve will cut interest rates early next year. Spot gold was up 0.4% at $2,052.69 per ounce as of 3:50 p.m. ET (20:50 GMT), its highest level since
People shopping on Oxford Street in London. Picture date: Thursday December 29, 2022. (Photo by James Manning/PA Images via Getty Images) James Manning – Pa Images | Pa Images | Getty Images LONDON — The U.K. is edging closer to recession after revised figures showed the economy shrank in the previous quarter. U.K. gross domestic
Share: The GBP/USD is on the high side amidst some rough chop in the US market session, holding above the 1.2700 handle the pair reclaimed during the European trading window after the UK reported better-than-expected Retail Sales in November. Read More… The Pound Sterling (GBP) extends its recovery on Friday, supported by upbeat UK Retail Sales data
Fresh selloff is seen in Dollar in early US session after lower than expected headline and core PCE inflation readings. While another month of progress might still be insufficient to prompt Fed for an early rate cut, at least, things are heading in the right direction. The greenback is set to end as the worst
USDCAD below the 100 week MA The USDCAD on the weekly chart is trading below its 100-week MA at 1.3278. A close below that MA would be the first since May 2022. That would be more bearish technically. Staying below keeps the sellers in firm control. Having said that the pair moved down to test
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Oil prices rose on Friday as tensions persisted in the Middle East following Houthi attacks on ships in the Red Sea, although Angola’s decision to leave OPEC raised questions over the group’s effectiveness in supporting prices. Brent crude futures were up 92 cents, or 1.2%, to $80.31 a barrel at 1445 GMT. U.S. West Texas