Investor sentiment was buoyed strongly by Fed’s projection of three rate cuts in the upcoming year. This significant dovish turn by the Fed has sparked a wave of investor optimism, propelling the DOW to record-breaking high. This buoyant mood has largely permeated the Asian markets, although Japan has remained an outlier in this trend. Dollar
The GBPUSD ran higher today spurred on by follow-through USD selling (GBPUSD buying) after the more dovish Fed, and follow through buying of the GBPUSD pair on the back of a more hawkish BOE today. The move to the upside worked its way toward the 1.2800 where old swing high area between 1.2789 and 1.27994
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 inched down on Friday but stayed on track for a weekly gain, as prospects of the U.S. Federal Reserve lowering borrowing costs dented the dollar and Treasury yields, boosting demand for the safe-haven asset. FUNDAMENTALS * Spot gold was down 0.1% at $2,033.29 per ounce, as of 0113 GMT. However, bullion has risen
BRUSSELS, BELGIUM – NOVEMBER 27: Christine Lagarde, President of the European Central Bank speaks during the European Parliament’s Committee on Economic and Monetary Affairs (ECON) meeting in Brussels, Belgium on Nevember 27, 2023. (Photo by Dursun Aydemir/Anadolu via Getty Images) Anadolu | Anadolu | Getty Images The European Central Bank on Thursday held interest rates
Share: Silver posts gains of more than 6% in the last couple of days, sponsored by a dovish Fed. US Treasury bond yields plunge continued for the second straight day. XAG/USD is upward biased in the near term but must reclaim $25.00 to challenge year-to-date (YTD) highs. Silver price climbs and reclaims the $24.00 figure
Sterling and Euro jumped sharply following the decisions by BoE and ECB to leave interest rates unchanged, in line with market expectations. Notably, both central banks diverged from Fed’s recent dovish turn, with explicit statements pushing back on the speculation of rate cuts. Bank of England Governor Andrew Bailey, speaking after the rate announcement, emphasized
Like many other currency pairs, the USDCAD is moving in the direction of a lower dollar and in the process is stretching toward a key technical target. The pair is moving closer to its 61.8% retracement of the 2023 trading year. That level comes in at 1.33999. The low price today has reached 1.34192. A
US retail sales control group Retail sales surprised to the upside in November but CIBC warns that there are signs of deceleration that should mount in the months ahead. The CIBC report on US November advance retail sales highlights a modest increase, signaling a positive start to the holiday shopping season. Retail sales rose by
Gold futures surged on Thursday amid a slip in the dollar index (DXY) and bond yields following a dovish commentary by US Federal Reserve Chair Jerome Powell. Taking cues from the price of yellow metal in the international market, MCX February gold futures were trading at Rs 62,380 around 9:15 am, up Rs 1,182 or
Consumers showed unexpected strength in November, giving a solid start to the holiday season as inflation showed signs of continued easing. Retail sales rose 0.3% in November, stronger than the 0.2% decline in October and better than the Dow Jones estimate for a decrease of 0.1%, the Commerce Department reported Thursday. The total is adjusted
Share: Dow Futures (YM) has broken to new all-time high, suggesting the trend remains firmly bullish. It also suggests the next bullish cycle has started. Short term, rally from 11.10.2023 low is currently in progress as a 5 waves impulse Elliott Wave structure. Up from 11.10.2023 low, wave ((i)) ended at 36337 and dips in
As the markets eagerly await FOMC rate decision and the release of new economic projections, Dollar is currently holding steady within a narrow range. The spotlight is particularly on the revised dot plot, as it is expected to provide crucial insights into the pace of monetary policy easing by Fed in the coming year. Investors
US 2 year yield is trading at lowest level since June The US 2-year yield is now down -29 basis points at 4.439%. That is the lowest level since June and the largest one-day decline since March. Looking at the daily chart the prices approaching its 50% midpoint of the move up from the March
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 extended gains to a one-week high on Thursday after the U.S. Federal Reserve flagged an end to its tightening cycle and signalled lower borrowing costs in 2024, sending the dollar and Treasury yields tumbling. Spot gold was up 0.2% at $2,031.28 per ounce, as of 0130 GMT, after rising 2.4% on Wednesday. U.S.
Federal Reserve Board Chairman Jerome Powell answers a question during a press conference following a closed two-day meeting of the Federal Open Market Committee on interest rate policy at the Federal Reserve in Washington, November 1, 2023. Kevin Lamarque | Reuters The Federal Reserve dialed back its inflation projections on Wednesday, seeing its favorite gauge
In this article ADBE Follow your favorite stocksCREATE FREE ACCOUNT Shantanu Narayen, CEO, Adobe Linda Dimyan | CNBC Adobe shares dropped more than 6% in extended trading on Wednesday after the software maker posted a lighter-than-expected forecast for 2024. Here’s how the company did, compared with consensus estimates from LSEG, formerly known as Refinitiv: Earnings: