Dismal US monthly job report and ISM services data Friday sank the US yields and consequently, the US Dollar index, which propelled the gold prices above $2000. However, reduced geopolitical concerns led to a decline from the day’s high. Spot gold closed with a gain of 0.36% at $1992.72. It was lower on the week
In a week marked by a significant shift in investor sentiment, Dollar found itself at the bottom of the currency heap. A rapid shift to a risk-on attitude was catalyzed by sharp decline in benchmark Treasury yields, fueling an aggressive uptick in stock prices. The surge in equity investments was further amplified when the latest
NEW YORK, NEW YORK – DECEMBER 02: People walk through downtown Manhattan on December 02, 2022 in New York City. Spencer Platt | Getty Images News | Getty Images The labor market showed greater deterioration for Hispanic workers, whose unemployment rate rose more than that of the U.S.’, according to data released Friday by the Department
In this article PARA Follow your favorite stocksCREATE FREE ACCOUNT The Paramount logo is displayed at Columbia Square along Sunset Blvd in Hollywood, California, on March 9, 2023. Patrick T. Fallon | AFP | Getty Images Paramount Global’s stock moved higher in extended trading Thursday after it reported strong revenue and subscription trends in its
The United States Commodity Futures Trading Commission (CFTC) has turned its attention to how companies handle customer assets. The recent CFTC proposal seeks to enhance the rules for futures commission merchants (FCMs) and derivative clearing organizations (DCOs). These companies are now required to invest customer funds in highly liquid assets. However, the revised rules do
Share: The GBP/USD is climbing into the 1.2400 handle to cap off a trading week that saw the pair mostly flounder around the averages. After US Nonfarm Payrolls (NFP) came in well below expectations the Pound Sterling (GBP) climbed 1.6% from Friday’s opening bids near 1.2190, and the GPB/USD is up almost 2.5% from the
The USDCAD is moving higher as sellers over the last few days cover some short against a support target defined by the 50% midpoint of the move up from the October low to the October high. That midpoint comes in at 1.3733. Also near the midpoint is a swing area between 1.3735 and 1.3743. The
Markets: Gold up $7 to $1992 US 10-year yields down 9.3 bps to 4.57% WTI crude oil down $1.64 to $80.83 S&P 500 up 1.0% NZD leads, USD lags This week marked a turn of the calendar and a turn in markets. Treasury yields plunged and the dollar sank along with them. Meanwhile, it was
Oil prices were little changed on Friday, heading for their second straight week of losses as the U.S. central bank left the door open for possible future rate hikes and worries that the Middle East conflict would disrupt supply eased. Brent crude futures rose 6 cents to $86.91 a barrel by 0010 GMT, while U.S.
Dollar experienced a pronounced dip as yields fell and stocks surged overnight, with the selling pressure continuing into Asian session. This comes even though Chair Jerome Powell left the door open for more tightening, after leaving interest rates unchanged. Contrastingly, market participants appear to be leaning even more towards the idea that Fed may have
Traders work on the floor of the New York Stock Exchange (NYSE) on November 02, 2023 in New York City. Spencer Platt | Getty Images Friday’s market reaction to the jobs report comes down to a simple premise: bad news is good news, as long as it isn’t too bad. Stocks rallied sharply after the
In this article QSR-CA QSR Follow your favorite stocksCREATE FREE ACCOUNT Unlike McDonalds — which owns some 84% of its outlets in Russia — companies such as Burger King, Subway and Papa John’s often operate via franchise agreements there. Burger King said it demanded the main operator of its franchises suspend restaurant operations in Russia,
Advisers for bankrupt crypto exchange FTX have been disclosing data from customers’ transactions and accounts with the Federal Bureau of Investigation (FBI), according to court documents seen by Bloomberg. In response to subpoenas issued by several FBI field offices during the past few months, FTX consultants turned over to law enforcement records of specific customers’
Share: USD/CHF drops sharply, signaling potential end to Fed’s rate hikes with investors favoring CHF. Pair’s fall below the 50 and 200-day moving averages at 0.9000 could lead to further declines. For recovery, USD/CHF needs to breach 0.9000, targeting the November 1 high at 0.9112. USD/CHF plummets in the mid-North American session on Friday after
US The Fed left interest rates unchanged as expected with basically no change to the statement. Fed Chair Powell stressed once again that they are proceeding carefully as the full effects of policy tightening have yet to be felt. The US Core PCE last week came in line with expectations. The labour market remains pretty
There are reports of an earthquake being felt in New Delhi, with buildings shaking. A related report cites a 6.2 magnitude earthquake in the Nepal region, however the USGS classifies it at 5.6. It’s 11:45 pm local time in New Delhi so people would be indoors. The duration was a reported 40-50 seconds. New Delhi
Oil prices fell on Friday, on track for a weekly loss as supply concerns driven by Middle East tensions eased, while jobs data raised expectations the U.S. Federal Reserve has done hiking interest rates in the world’s biggest oil consuming economy. Brent crude futures were down $1.21, or 1.4%, to $85.64 a barrel at 1431
Markets reacted with notable positivity to the latest US. non-farm payroll report, which showed weaker-than-expected growth in jobs, a higher unemployment rate, and subdued wage inflation. Stock futures leaped as the data appeared to assuage investor concerns about further tightening by Fed. In a sharp response, 10-year Treasury yield plunged through 4.55% level, exacerbating the