Share: Gold price strengthens after China’s positive data and fresh fiscal stimulus. US Dollar (USD) has pulled back from its six-month high; contributing support for the yellow metal. Enhanced US bond yields could offer support in constraining the correction of the US Dollar (USD). Gold price extends gains on the second day, trading higher near $1,920
Two more top executives are leaving Binance.US, one day after the departure of CEO Brian Shroder and the layoff of a third of its staff, The Wall Street Journal reported. Binance.US is the United States offshoot of the international cryptocurrency exchange. Head of legal Krishna Juvvadi and chief risk officer Sidney Majalya were said to
Crude oil traded above $90 for the 1st time since November Crude oil prices have risen by $1.33, marking a 1.5% increase, and are currently trading at $89.85. Today’s peak reached $90.26, the first time it surpassed $90 since November 8, before retracting slightly. A few key observations from the daily chart: On September 1,
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
Oil rebounded on Thursday, with Brent crude topping $93 a barrel for the first time this year, as expectations of a tighter supply outlook for the rest of 2023 overshadowed concerns over weaker economic growth and rising U.S. inventories. Saudi Arabia and Russia’s extension of oil output cuts will result in a market deficit through
In a twist of events today, Euro takes a considerable hit following ECB’s dovish rate hike which communicated a possibly peak in the tightening cycle. The downgrading of core CPI and GDP growth forecasts for the coming years – 2024 and 2025 – further aggravates the descent. This bearish sentiment spills over to Sterling and
A shopper peruses the meats section of a grocery store on September 12, 2023 in Los Angeles, California. Mario Tama | Getty Images Inflation at the wholesale level rose more than expected in August, countering recent data showing that price increases have tempered lately. The producer price index, a measure of what producers get for
Share: USD/SEK increased more than 0.60% towards 11.2000, its highest since November 2022. Sweden’s August CPI came in lower than expected. The USD’s strengths amid strong economic figure contributes to the upward momentum. The USD/SEK tallied a fresh multi-month high around 11.2000 as the SEK lost interest following soft inflation figures from Sweden from August. On
Yesterday, the US CPI report came basically in line with expectations as the market was already expecting higher energy prices to push up the August inflation readings. The Core measure, which is what the Fed is focused on, was in line with forecasts with the monthly figure just a touch higher than expected. The core
I’ve been highlighting them since last week already. And if you think that after the dull reaction to the US CPI report yesterday that the data points today might not matter, I would say the opposite could end up being truer. The inflation numbers yesterday served the purpose of reaffirming the narrative that the Fed
Gold traded in the red on Thursday after US retail inflation accelerated, though lower than what was anticipated raising odds for another rate hike. While the jury is still out on whether the Fed will do it in its upcoming monetary policy meeting next week. However the losses were capped on account of slippages in
Australian Dollar rises broadly today, as lifted by stronger than expected headline employment data. But the details are less impressive, as the vast majority of job growth were part-time, while hours worked decline. That’s nonetheless welcome news for RBA, as the job markets while starting to cool, appeared to have absorb prior rate hikes well.
In this article MAERSK.B-DK Follow your favorite stocksCREATE FREE ACCOUNT A.P. Moller-Maersk, is one of the world’s biggest container shippers with a market share of around 17%, and is widely seen as a barometer of global trade. Andia | UIG via Getty Images Copenhagen, DENMARK — Shipping giant Maersk on Thursday presented its first container
Share: CME Group’s flash data for natural gas futures markets noted traders scaled back their open interest positions for the third straight session on Wednesday, now by around 20.5K contracts. In the same line, volume reversed two daily builds in a row and went down by more than 29K contracts. Natural Gas: Next on the
Alibaba announced that its proprietary large language model, an artificial intelligence system called Tongyi Qianwen, will be available for public and enterprise access throughout China starting Sept. 13. Tongyi Qianwen is a ChatGPT-like large language model trained on a corpus of English and Chinese text. While its exact specifications aren’t known — early rumors indicated
Ethereum keeps on falling and making new lows as the outlook is turning more and more bearish given the headwinds from global growth and tight monetary policies. All the positive news eventually gets faded, which is another sign that the big picture trend remains bearish. Amid this high uncertainty, the technicals can help with risk
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 plunged Rs 350 to Rs 59,650 per 10 grams in the national capital on Wednesday amid weak cues in global markets, according to HDFC Securities. The yellow metal had ended at Rs 60,000 per 10 grams in previous trade. “Gold declined on Wednesday, with spot gold prices (24 carats) in the Delhi markets trading