US non-farm payrolls have beaten the consensus 13 times in a row and the market will try to stretch that unprecendented streak a week from today. Overall, the week promises a number of key economic data releases that could move the market but the week starts quietly on Monday due to Memorial Day holiday. Tuesday,
Gold futures have given negative returns in May, dragged by strength in the Dollar Index (DXY) which is now hovering over 104 against a basket of six major currencies. Yellow metal is likely to take cues from the bullion prices in international markets, going ahead. With the US debt ceiling likely to get resolved soon
Inflation stayed stubbornly high in April, potentially reinforcing the chances that interest rates could stay higher for longer, according to a gauge released Friday that the Federal Reserve follows closely. The personal consumption expenditures price index, which measures a variety of goods and services and adjusts for changes in consumer behavior, rose 0.4% for the
Sebastian Siemiatkowski, CEO of Klarna, speaking at a fintech event in London on Monday, April 4, 2022. Chris Ratcliffe | Bloomberg via Getty Images Klarna, the Swedish buy now, pay later fintech company, halved its net loss in the first quarter, recording a significant improvement in its bottom line after a major cost-cutting drive. The
Share: Oil price recovers after the steep sell-off on Thursday due to mixed messaging from OPEC+ members. Russia’s Novak says production cuts are unlikely whilst Saudi Oil Minister seems to imply the opposite. US Dollar corrects after strong rally, giving Oil a backdraught. Oil price steadies on Friday after the previous day’s tumble, as
Dollar has maintained its position as the strongest performer for the week, despite the noticeable waning of its upside momentum over the past two days. Today, markets anticipates the release of several US economic indicators, including PCE inflation and durable goods orders. However, the primary driver is likely to be any updates on the debt
The US major indices are closing mixed with the Dow down for the 5th consecutive day in what was an up-and-down trading day for it. However, the S&P closed higher. The Nasdaq index surged 1.71% as Nvidia led to the flow of funds into it and other AI type stocks. Nvidia rose 24.37% Microsoft rose
The key levels from yesterday (summary post here) are all still holding as the dollar remains in the driver’s seat in trading this week. We’re seeing a light pullback today but the ranges for most dollar pairs are still relatively narrow. EUR/USD is up 0.2% to 1.0740 but sits in just a 23 pips range
The market is exhibiting caution as it awaits a catalyst, precisely the outcome of the US debt ceiling talks, to determine its next directional move. Despite positive developments, we expect the discussions to widely go down to the wire, resulting in extreme volatility. As a result, we expect the crude prices to trade in a
In this article GPS Follow your favorite stocksCREATE FREE ACCOUNT The Gap logo is displayed at a Gap store on April 25, 2023 in Los Angeles, California. Mario Tama | Getty Images Gap reported another quarter of net losses and declining sales across its four brands but the retailer insisted it’s making progress – and
Share: Open interest in crude oil futures markets rose for the fourth session in a row on Thursday, this time by around 38.5K contracts according to preliminary readings from CME Group. Volume followed suit and went up for the third straight day, now by more than 84K contracts. WTI: Next on the downside comes $70.00
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Dollar continues to be the strongest one for the week and sees fresh buying in early US session. Republican House Speaker Kevin McCarthy noted the debt ceiling negotiations have made some progress. But that was largely ignored by stock investors, even through treasury yields are on the rise. As for today, Canadian Dollar and Swiss
The Dow Industrial Average has moved into modest positive territory. The Dow 30 is now up 23 points or 0.08% at 32822. The high price reached 32870. Below are the laggards in the Dow, led by Intel which is down -5.52% Intel (INTC) – The stock opened at 28.25, reached a high of 28.27, and
Could USD/JPY be in store for another look at the top? I don’t think the market is as worried about +6% Fed funds as it was in October but there’s a good chance that the terminal rate stays above 5% for longer than previously thought. The Bank of Japan transition has also proven (so far)
Gold slid to its lowest in two months on Thursday as optimism around the U.S. debt ceiling talks lowered safe-haven demand for bullion and robust economic data fueled bets of another rate hike by the Federal Reserve. Spot gold was 0.4% down at $1,949.69 per ounce by 10:10 a.m. EDT (1410 GMT), having hit its