The central bank bonanza continues into the new week with the RBA raising its cash rate by a measly 25 bps today. The decision was much expected but there was certainly a case for the central bank to be more aggressive and considering now that they didn’t, it seems like we are starting to head
Gold prices were flat on Tuesday, after touching their lowest levels in more than one week, as the dollar held firm ahead of the U.S. Federal Reserve’s policy meeting, where the central bank is likely to deliver another oversized interest rate hike. FUNDAMENTALS * Spot gold was listless at $1,633.69 per ounce, as of 0059
Yen trades generally lower in quite Asian session today, but markets are relatively steady elsewhere. Stock markets are mixed with Nikkei closing higher, following the rebound in the US last Friday. But China is weighed down by poor PMI data. Generally speaking, traders are cautious ahead of many key events ahead in the week, including
Credit Suisse shares plunged 18% on Thursday after the Swiss bank posted a quarterly loss that was significantly worse than analyst estimates, and announced a massive strategic overhaul. The embattled lender posted a third-quarter net loss of 4.034 billion Swiss francs ($4.09 billion), compared to analyst expectations for a loss of 567.93 million Swiss francs.
AUD/USD has slipped sharply to near 0.6420 for the second consecutive 25 bps rate hike An upbeat Caixin Manufacturing PMI data also supported the antipodean. The DXY has slipped to 111.30 as investors shrugged off uncertainty ahead of Fed policy. The AUD/USD has witnessed a steep fall to near 0.6420 pair as the Reserve Bank of Australia
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In a close race with outgoing Brazilian President Jair Bolsonaro, Luiz Inácio Lula da Silva, also known simply as “Lula,” won the country’s presidential election following a run-off race. According to data from Tribunal Superior Eleitoral, Lula defeated Bolsonaro in an Oct. 30 run-off election with 50.9% of the vote — roughly 60.3 million people
The USDCAD moved down last week and in the process stalled near the 38.2% of the move up from the August low at 1.3500. There is a swing area near that level up sto 1.3510. Holding the support area, led to a rally on Friday. THe price moved near the 200 bar MA on the
We’ve been writing about this for months and evidence continues to mount that the US Energy Information Adminstration has a data problem. When July demand data cratered, it kicked of a demand-destruction trade in oil but when the monthly numbers were revised, they showed that gasoline demand was 300k barrels per day stronger than reported.
Gold price in the national capital fell Rs 146 to Rs 50,612 per 10 grams on Monday amid a drop in precious metal prices in the overseas market along with appreciation in rupee, according to Securities. In the previous trade, the yellow metal had touched Rs 50,758 per 10 grams. Silver also declined by Rs
Dollar rebounds broadly today as US futures turn south, pointing to a lower open. Yen is back under some selling pressure. But Euro is also weak despite stronger than expected consumer inflation data, while Sterling and Swiss Franc are also soft. Commodity currencies are mixed with Canadian Dollar on the weaker side. But overall, traders
In this article MCD Follow your favorite stocksCREATE FREE ACCOUNT McDonald’s on Thursday said traffic to its U.S. restaurants is growing, helping the fast-food giant top analysts’ expectations for its quarterly earnings and revenue. The company is bucking a trend seen by other chains, which have reported shrinking traffic after raising menu prices. Many restaurants, including McDonald’s and its
Gold tumbles and extends its yearly losses, eyeing the YTD low at around $1,615. Broad US dollar strength ahead of the Federal Reserve meeting keeps the precious metals segment under pressure. US ISM Manufacturing PMI and JOLTs Opening, eyed on Tuesday, before Fed’s decision. Gold price slides for the second consecutive day as the US
The Wall Street Journal had a piece over the weekend from Nick Timiraos, who has gained a reputation as a Federal Reserve ‘insider’. Timiraos wrote suggesting higher rates from the Federal Open Market Committee (FOMC), rates that’ll be held high for longer. Separately Goldman Sachs published a note raising their forecast for Fed rate hikes,
Gold prices were flat on Monday, after declining about 1.3% in the previous session, as investors cautiously awaited the U.S. Federal Reserve’s policy meeting for cues on its rate-hike path. FUNDAMENTALS * Spot gold was little changed at $1,642.59 per ounce by 0046 GMT, while U.S. gold futures were up 0.1% at $1,645.90. * The
In this article CMCSA Follow your favorite stocksCREATE FREE ACCOUNT The Comcast building in New York. Scott Mlyn | CNBC Comcast on Thursday reported third-quarter earnings that beat analyst estimates, despite seeing revenue slightly decline and continued softness in broadband customer growth. The company’s shares closed 1.5% higher Thursday. Here’s how Comcast did in the