Share: The DXY Index rose above the 20-day SMA towards 104.05 and will close a 0.75% winning week. US NFPs from November accelerated, as did Average Hourly Earnings. The Unemployment Rate declined. US is set to report CPI inflation next Tuesday. The US Dollar (USD) continued to command the financial markets as it soared to the
The major US stock indices have turned back into negative territory after extending higher after the favorable inflation and growth numbers from the University of Michigan sentiment survey. For the Dow Industrial Average it traded as high asup 144.6 points. It is currently trading down 10 points or -0.03% at 36107. The S&P index traded
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In a transformative shift in investment patterns, digital gold is rapidly gaining prominence in India, marking a departure from traditional approaches to gold ownership. At a nascent stage, digital gold currently constitutes 3% of the country’s total annual consumption, but its trajectory suggests a promising future. This surge is particularly pronounced among millennials who are
Chinese President Xi Jinping chairs a symposium on advancing the integrated development of the Yangtze River Delta and delivers an important speech in east China’s Shanghai, Nov. 30, 2023. Xinhua News Agency | Xinhua News Agency | Getty Images China’s top decision-making body of the ruling Communist Party on Friday said the country’s fiscal policy
Share: The GBP/JPY catches a soft bid to challenge 182.00 after a week of stubborn losses. The Yen surged on the week, bolstered by a hawkish BoJ. The Guppy heads into next week’s central bank showdown on the low side. The GBP/JPY eked out a small gain on Friday, finishing the day up a slim
USDCAD trades to a new high but upside resistance looms The USDCAD has recently reached a new daily high, but the price movement has been notably volatile, fluctuating between gains and losses. This inconsistency in the market’s direction forms the backdrop of current trading conditions. On a positive note, today’s low, which occurred during the
weekly oil WTI Sentiment in oil might finally be so washed out that it’s safe to wade in. The US announced another 3 million barrels of purchases to refill the SPR today and that’s a modest positive catalyst as the White House is able to refill it at prices below what they paid. I’d argue
Oil benchmarks were on track for a seven-week decline on Friday, their first in half a decade, on worries about a supply surplus and weak Chinese demand, though prices rebounded after Saudi Arabia and Russia lobbied OPEC+ members to join output cuts. Brent crude futures were up $1.46, or 2%, at $75.51 a barrel at
The U.S. job market once again surprised to the upside in November, as strong growth in health care and a few other sectors helped the economy add nearly 200,000 jobs and push the unemployment rate down. Health care and social assistance added more than 93,000 jobs for the month, making it the top category for
Share: Mullen said its new spoofing complaint will replace its short-selling litigation announced in August. Law firm says spoofing litigation could amounts to “billions” in compensation. MULN trades lower for fourth consecutive session on Friday. Traders wait for December 15 shareholder vote on reverse split. Mullen Automotive (MULN) stock lost ground for the fourth
The USDCHF has moved higher this week. The low was reached on Monday. The high was reached in trading today. At session highs, the price reached the low of a swing area on the daily chart between 0.88167 and 0.8838. In trading next week, if the buyers are to take more control they would need
Markets: Gold down $26 to $2002 WTI crude up $1.82 to $71.16 US 10-year yields up 10.6 bps to 4.23% S&P 500 up 0.5% to a 52-week high CAD leads, NZD lags It’s often said that even if you knew the results of the non-farm payrolls report ahead of time, it would be tough to
The week ending December 8 was a tumultuous one for gold as the metal, on seemingly dovish Fedspeak, reached a fresh all-time high of $2,135 in the Asian session, before it closed lower the same day to consolidate for the rest of the week until Friday. It slid further lower to close with a weekly
The global financial markets last week were primarily influenced by three pivotal themes: Yen’s dramatic rise, Dollar’s strength following robust US employment data, and repercussions of Moody’s downgrading China’s rating outlook. The most striking was the Yen’s significant surge, driven by intensified speculation about an impending exit from negative interest rates by BoJ. The anticipation
Commuters arrive at the Oculus Center in Manhattan, New York City, on Nov. 17, 2022. Spencer Platt | Getty Images The labor market deteriorated for both Asian and Black workers in November, according to data released Friday by the U.S. Department of Labor. The overall unemployment rate declined 0.2% to 3.7% last month, against a
Share: The Canadian Dollar follows a broad-market risk bid to higher ground on Friday. Economic data from Canada is thin on Friday, as well as all next week. Crude Oil takes a little off the top, paring back recent losses and helping to prop up the CAD. The Canadian Dollar (CAD) gained ground across the FX
The price of WTI crude oil futures are settling the week at $71.23. That’s up $1.89 or 2.73%. Monday, Tuesday and Wednesday saw the price tumble from Friday’s close of $74.07 to a low-price reached yesterday (before rebounding) at $68.80. The rebound today retraced some of the declines. However, for the week, the price is