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 made minor recovery after initial jitters which saw yellow metal slipping in the red in the opening trade on Friday. MCX February gold futures were trading at Rs 62,670, up by Rs 30 or 0.05% from the Thursday closing price. Meanwhile, the March Silver futures were trading at Rs 77,618 per kg, higher by
The competition between Dollar and Euro for the title of the week’s weakest performer remains intense. Current talking point is particularly on ECB, where economists are increasingly predicting an early rate cut following this week’s pivotal inflation data. Goldman Sachs, aligning with this growing consensus, has updated its forecast today, now anticipating ECB to initiate
President Donald Trump praises departing economic adviser Gary Cohn (L) during a Cabinet meeting at the White House, Washington, March 8, 2018. Kevin Lamarque | Reuters The U.S. economy is “back to normal” for the first time in two decades, but the market is getting ahead of the likely pace of interest rate cuts, according
Share: Reserve Bank of New Zealand (RBNZ) Deputy Governor Christian Hawkesby said on Friday, “high and sticky core inflation leaves little room for error.” Additional comments Need to take seriously that some inflation expectation measures have ticked up. New Zealand needs a period of very subdued spending. Vast majority of borrowers able to services their debt at
EURUSD falls to technical barometer near 38.2% retracement The EURUSD pair recently hit a new session low, testing a critical swing area and the 38.2% Fibonacci retracement level, ranging between 1.0878 and 1.0887. The pair’s low touched 1.08829, influenced partly by the Eurozone CPI coming in weaker than expected, which favored the downside. Technically significant,
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
OPEC+ members agreed to make 1 million barrels a day of additional oil-supply cuts to go alongside Saudi Arabia’s much-anticipated extension of its voluntary reduction of the same size. Members have agreed to this in principle and it now goes to a vote at the meeting, delegates said, asking not the be named because the
Dollar is staging a broad-based rebound today, driven in part by the selloff in Euro. However, a more significant factor behind Dollar’s recovery appears to be the exhaustion of selling momentum as the month draws to a close. This rebound continues after both headline and core PCE inflation data in US matched expectations, indicating that
Inflation as measured by personal spending increased in line with expectations in October, possibly giving the Federal Reserve more incentive to hold rates steady and perhaps start cutting in 2024, according to a data release Thursday. The personal consumption expenditures price index, excluding food and energy prices, rose 0.2% for the month and 3.5% on
In this article ULTA Follow your favorite stocksCREATE FREE ACCOUNT Shoppers arrive at an Ulta Beauty store in Las Vegas, Nevada, US, on Monday, May 22, 2023. Ulta Beauty Inc. is scheduled to release earnings figures on May 25. Bridget Bennett | Bloomberg | Getty Images Shares of Ulta Beauty rose in after-hours trading on
The Central Bank of Solomon Islands has launched a proof-of-concept for a central bank digital currency called Bokolo Cash. Japanese blockchain Soramitsu is providing support. Bokolo Cash will be worth one Solomon Islands dollar. Project participants can use it in retail settings in the island nation’s capital Honiara and for person-to-person transfers. Wholesale transfers between
Share: GBP soft in line with broader USD tone. Economists at Scotiabank analyze Cable’s outlook. A minor double top around 1.2730 has been struck Sterling’s losses on the session look a little more challenging from a short-term technical point of view. A minor double top around 1.2730 has been struck, targeting a drop in the
The Reserve Bank of New Zealand’s decision to maintain interest rates at 5.5% was anticipated, but their stance leaned towards the hawkish side. They didn’t dismiss the possibility of future rate hikes to manage inflation. This sentiment drove the NZDUSD price up, surpassing the 61.8% Fibonacci retracement level of the July to October downward movement,
Here’s a snapshot of price action in WTI crude over the last week or so: WTI crude oil hourly chart The latest news is this one here, with reports stating that the additional production cuts could be more than 1 million bpd; though depending on the contribution by each of the bloc’s members. It is
Gold opened on a cautious note on Thursday though the bias was negative. Street awaits key inflation data in the US to take a call on their bets. Meanwhile, the dollar index traded with a slightly positive bias having slipped below the 103 mark, its lowest in three months. Taking cues from the international prices,
Dollar and Euro are emerging as notable underperformers for the week, largely influenced by increasing market anticipation of interest rate cuts by Fed and ECB in the coming year, a sentiment that is also impacting treasury yields. In US, 10-year treasury yield, a key benchmark for market expectations, has dropped below 4.3% for the first
The U.S. economy grew at an even stronger pace then previously indicated in the third quarter, the product of better-than-expected business investment and stronger government spending, the Commerce Department reported Wednesday. Gross domestic product, a measure of all goods and services produced during the three-month period, accelerated at a 5.2% annualized pace, the department’s second