The early communiqué from the G20 leaders meeting next week: Russia’s war in Ukraine has adversely impacted the global economy Many G 20 members have called on Russia to immediately end the war in Ukraine Many members strongly condemned Russia’s illegal, unjustifiable, and unprovoked war on of aggression against Ukraine The use or threat of
Spot gold prices in the international market have found support near $1600 an ounce and showing signs of reversal. The US midterm election, mixed US economic releases, and hints of a possible end of Russia-Ukraine war influenced the precious yellow metal. Negative investor sentiment due to a rapid rise in global interest rates, a strong
The set of lower than expected consumer inflation data from the US was music of joy for investors. Stocks surged while treasury yield tumbled, on expectation that Fed is ready to start slowing down tightening pace in December. Risk-on sentiment was broad-based with NASDAQ starting to realign with DOW, despite crypto rout. Dollar suffered steep,
In this article BYND Follow your favorite stocksCREATE FREE ACCOUNT Beyond Meat “Beyond Burger” patties made from plant-based substitutes for meat products sit on a shelf for sale in New York City. Angela Weiss | AFP | Getty Images Beyond Meat on Wednesday reported a wider-than-expected loss for its third quarter as demand for its
EURUSD finished up in the week close to 4%, spurred by a weak US Dollar. Softer-than-expected US CPI report and consumer inflation expectations rising tumbled the US Dollar. The double-digit inflation level in Germany underpinned the Euro. EURUSD Price Analysis: Upward biased, might test the 200-DMA in the short term. The Euro (EUR) finished the
The dollar index (DXY) is trading to a new low for the week at 106.369. The index is currently down -440 pips this week and is down -3.97%. That is the largest decline since March 2009 when the index fell around 4.10% on the week. The weekly chart below shows the pip change in the
The USD moved lower for the 2nd consecutive day and the 5th day in the last 6 trading days. The dollar index (DXY) is down nearly 4% this week with all the major currencies gaining vs the greenback. The decline is the largest % fall since March 2009. The better-than-expected CPI on Thursday was a
Gold prices were trading flat on Friday, but were set for their biggest weekly gain in more than eight months, as positive US data boosted hopes against the Fed’s aggressive rate hikes. US consumer prices rose less than expected in October, indicating that inflation was slowing, which raised hopes that the Fed will begin scaling
The Bank of England has warned that the U.K. is facing its longest recession since records began a century ago. Huw Fairclough | Getty Images News | Getty Images LONDON — The U.K. economy contracted by 0.2% in the third quarter of 2022, signaling what could be the start of a long recession. The preliminary
In this article RIVN Follow your favorite stocksCREATE FREE ACCOUNT Rivian electric pickup trucks sit in a parking lot at a Rivian service center on May 09, 2022 in South San Francisco, California. Justin Sullivan | Getty Images Electric vehicle maker Rivian Automotive on Wednesday reaffirmed its 25,000-vehicle production target for 2022, but said it
The GBP extended its gains towards 1.1790s after a soft US inflation report. The US Dollar plunges sharply, as shown by the US Dollar Index, down 1.20%, below the 107.000 mark. Consumer sentiment in the United States worsened as inflation expectations rose. The Pound Sterling rises in the North American session, following a softer inflation
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The total cryptocurrency market capitalization dropped by 24% between Nov. 8 and Nov. 10, reaching a $770 billion low. However, after the initial panic was subdued and forced future contracts liquidations were no longer pressuring asset prices, a sharp 16% recovery followed. This week’s dip was not the market’s first rodeo below the $850 billion
The GBPUSD has seen the price move up 3.71% this week at current levels, which is the largest week gain going back to March 2020 covid lockdown. Looking at the weekly chart, the pair is trading in a swing area between 1.1759 to 1.1840. The high today has reached 1.17997 (call it 1.1800). The current
Consumer sentiment 54.7 vs. 59.5 Current conditions 57.8 vs. 64.0 estimate expectations 52.7 vs. 56.0 estimate inflation expectations 1 year 5.1% vs 5.0% last month inflation expectations 5 year 3.0% vs 2.9% last month Not a great report all the way around as inflation expectations tick higher while consumer sentiment falls. The US stocks are
Gold price in the national capital rallied Rs 294 to Rs 52,663 per 10 grams on Friday amid a rise in price of the metal in the international market, according to Securities. In the previous trade, the yellow metal had closed at Rs 52,369 per 10 grams. Silver also surged by Rs 638 to Rs
Dollar is overwhelmingly the worst performer for the week, after yesterday’s post-CPI selloff. Yen is the strongest one, with help from the steep decline in US yields too. European majors follow as next strongest, with Swiss Franc having an upper hand against Euro and Sterling. While US stocks surged and Asia followed, commodity currencies are