Oil prices rose on Thursday on investor concern that a widening Middle East conflict could disrupt crude oil flows from the region, though a stronger global supply outlook kept a lid on gains. Brent crude futures were up $1.41, or 1.91%, at $75.31 a barrel by 1050 GMT. U.S. West Texas Intermediate crude futures rose
Oil prices inched up in early Asian trading hours on Friday, holding on to their strong weekly gains, as investors weighed the Middle East conflict and the potential disruption in crude flows against an amply-supplied global market. Brent crude futures were up 9 cents, or 0.12%, to $77.71 a barrel as of 0010 GMT. U.S.
Global markets are showing mixed performance as sentiment diverges across regions. In the US, stocks closed lower with traders displaying increased caution. ISM manufacturing report indicated continuation of the prolonged recession in the sector, though without any sharp deterioration. Attention is now focused on upcoming key economic data, including tomorrow’s ISM services report and Friday’s
The financial markets gained much-needed clarity last week as strong US employment data aligned market expectations with Fed’s own monetary policy outlook. The possibility of a 50bps rate cut in November has now vanished, with traders anticipating two more standard 25bps cuts this year, matching Fed’s dot plot. This development boosted Dollar, which ended the
The U.S. economy added far more jobs than expected in September, pointing to a vital employment picture as the unemployment rate edged lower, the Labor Department reported Friday. Nonfarm payrolls surged by 254,000 for the month, up from a revised 159,000 in August and better than the 150,000 Dow Jones consensus forecast. The unemployment rate
Getty Images The September jobs report was surprisingly strong, and the details show that growth came from many different areas of the economy. The biggest contributions came from leisure and hospitality, with 78,000 new positions, and health care and social assistance, at 71,700. If private education was added to the health-care group, as some economists
AUD/USD falls following robust US Nonfarm Payrolls data, reducing the likelihood of aggressive Fed rate cuts. Fed Chair Powell signals slower pace of easing, with markets now pricing in a 25 bps cut for November. Australian data shows mixed results with strong Retail Sales and trade surplus but ongoing manufacturing contraction and slowing business activity.
The US Dollar climbed after a bumper NFP print on Friday. US jobs additions soared in September, with upside revisions to previous months. Market hopes for a follow-up outsized rate cut in November were shattered by jobs growth. The US Dollar (USD) Index (DXY) climbed into a fifth consecutive bullish day on Friday, driven higher
As we head into the close, the EURUSD is trading near lows for the week. The strong US jobs data today helped to push the pair below a swing area between 1.1001 and 1.1014, and also the 50% midpoint of the move up from the August 1 low at 1.0995. That area will now be
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Gold prices traded flat on Thursday but were slightly down for the week, as market focus shifted to a crucial U.S. payrolls report for clearer insight into the Federal Reserve‘s anticipated interest rate reduction next month. FUNDAMENTALS * Spot gold was steady at $2,657.13 per ounce, as of 0034 GMT. Bullion was on track for
Dollar is gaining some traction, emerging as the strongest currency of the week so far. Several factors are underpinning this momentum. First, Fed Chair Jerome Powell has reaffirmed the expectation of two additional rate cuts this year, adhering to the script established in the latest dot plot. This stance has tempered market speculation about another
Job seekers attend the JobNewsUSA.com South Florida Job Fair held at the Amerant Bank Arena in Sunrise, Florida, on June 26, 2024. Joe Raedle | Getty Images The unemployment rate for men in Black and Hispanic racial groups declined in September while staying little-changed for other racial groups, according to data released Friday by the Department
Gold drops after robust US jobs report lowers pressure on the Fed. US 10-year T-note yield climbs to 3.971%, while the US Dollar Index hits mid-August highs at 102.58, capping Gold’s rise. Geopolitical risks involving Israel and Iran to support Gold, which could hit $2,700. Gold price retraces after a stronger-than-expected US jobs report hinted
As the week comes to a close, the USDJPY is trading near the highs for the day and the week. The move to the upside today off the unexpected US jobs report, was able to take the price above a key swing area ceiling around the 147.33 level and also above the 38.2% retracement of
The US September jobs report today exceeded expectations, with non-farm payrolls increasing by 254K compared to the 140K anticipated. The unemployment rate fell slightly to 4.1%, nearly reaching 4.0%, and the participation rate held steady at 62.7%. Private payrolls surged by 223K, while average hourly earnings rose by 0.4% month-over-month and 4.0% year-over-year, both above
Gold December futures contracts at MCX opened flat today at Rs 76,357 per 10 gram, which is up by 0.15% or Rs 113 while silver December futures contracts were trading at Rs 93,130/kg, up by 0.16% or Rs 152. Over the last one week, gold prices traded flat, increasing merely by Rs 100/gm. Meanwhile silver
Dollar surged across the board during early US trading after the all-around stronger-than-expected non-farm payroll report. The data showed much higher-than-anticipated job growth, a slight decrease in unemployment rate, and an acceleration in wage growth. This robust set of figures has led traders to largely abandon bets on a 50bps rate cut by Fed in
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