Weekly jobless claims edged higher last week but rose less than expected for an economy struggling to shake off impacts from a pandemic that has been around now for nearly a year. The Labor Department on Wednesday reported that first-time filings for unemployment insurance in the week ended Feb. 27 totaled a seasonally adjusted 745,000,
Month: March 2021
FOMC Chairman Jerome Powell will be delivering his remarks on the US economy at the Wall Street Jobs Summit on Thursday, March 4, at 1705 GMT. Powell Preview: Three scenarios for the Fed to defuse the bond bonfire, market implications. “Calm before the storms – markets found some solace, but it hinges on new soothing
Looks to close back below the 200 day MA for the 2nd time in 5 trading days The price of Amazon has dipped below the $3000 price level for the 1st time since early November. The low price in November reached $2950.12. The September low reached $2871. . There is a bounce however with the price currently trading
Forex news for Asia trading for Thursday 4 March 2021 the Australian dollar was a mover (relatively speaking) in majopr FS during the session here today, helped along by a trade balance data release (for January) that came in at +10bn vs. +6.8bn expected (see bullets above for more detail in the numbers) and the
SINGAPORE: Oil prices rose for a second straight session on Thursday, as the possibility that OPEC+ producers might decide against increasing output at a key meeting later in the day underpinned alongside a drop in U.S. fuel inventories. Brent crude futures added 11 cents, or 0.2%, to $64.18 a barrel, as of 0148 GMT, after
Sluggish demand and rising output to profit from strong oil prices lifted US inventory significantly last week. The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks dropped -2.8 mmb to 1282 mmb in the week ended February 26. Crude oil inventory jumped remarkably, by
Private payroll growth disappointed in February despite otherwise encouraging signs of economic growth, according to a report Wednesday from ADP. Companies added just 117,000 positions for the month, well below the 225,000 forecast from economists surveyed by Dow Jones. The total also represented a sharp decline from the upward revised 195,000 jobs in January. The
Frank Slootman, CEO, Snowflake Source: CNBC Snowflake shares fell as much as 7% before erasing most of the decline in extended trading on Wednesday after the data analytics software company gave full-year guidance that met but did not exceed analysts’ estimates. The stock had already dropped about 9% during regular trading Wednesday, amid a broad
Gold Price Forecast: XAU/USD’s fate hinges on Treasury yields, Powell’s speech Gold (XAU/USD) reached fresh nine-month lows at $1702 amid a renewed uptick in the US Treasury yields, as the bond market turmoil resumed on Wednesday. Gold managed to recover some ground and finished the day at $1714, still losing significantly on a daily basis.
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Without much fanfare, Heath Tarbert has announced his full departure from the Commodity Futures Trading Commission at the end of this week. In a tweet Wednesday morning, the former CFTC Chairman said that he would be fully resigning as of Friday. In December, he left his post as chairman, which the CFTC announced formally on
Swing area also being tested The AUDUSD is one of the weakest of the major currencies and in the process is testing a lower trendline on the hourly chart along with a swing area over the last few days between 0.7768 0.7772. A move below that area would be increase the bearish bias. The move lower off the high
Precious metals beaten up Gold is down $33 to $1705 and silver is down more than 3% as the ugly run continues for gold. I’m not sure I can name a more-hated financial asset right now than gold. I highlighted yesterday that the bounce looked very much like a dead cat-variety rebound. I think there’s
NEW DELHI: Gold futures on Wednesday fell by 0.58 per cent to Rs 45,284 per 10 gram as participants offloaded their holdings on a low spot demand. On the Multi Commodity Exchange, gold prices for April delivery slipped by Rs 264, or 0.58 per cent, to Rs 45,284 per 10 gram in a business turnover
Dollar recovers in early US session as sluggish ADP job growth drags down stock futures. Additionally, treasury yields are having a mild rebound. At this point, Sterling is following as the strongest followed the day, then Canadian. New Zealand Dollar is leading Australian Lower, followed by Swiss Franc and Yen. Eyes will now be on
A worker delivers groceries to a customer’s vehicle outside a Walmart Inc. store in Amsterdam, New York, on Friday, May 15, 2020. Angus Mordant | Bloomberg via Getty Images Walmart said Wednesday that it plans to back American manufacturers by spending an additional $350 billion over the next decade on items that are made, grown