Inflation across a broad swath of products that consumers buy every day was even worse than expected in October, hitting its highest point in more than 30 years, the Labor Department reported Wednesday. The consumer price index, which is a basket of products ranging from gasoline and health care to groceries and rents, rose 6.2%
Month: November 2021
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 U.S. sales shrank. The company’s fourth-quarter outlook also fell short of Wall Street’s
Spot silver has failed to push above its 200DMA at $25.40 despite weak US consumer data. The precious metal remains on course to post healthy weekly gains of about 4.5%, however, its best performance since May. Spot silver (XAG/USD) prices have been trying to move above its 200-day moving average at $25.40 on Friday, but
The latest ECB bulletin, European Commission’s latest inflation projections and the preliminary inflation data for October rekindled ECB’s rate hike speculations. At the ECB bulletin, policymakers acknowledged that strong inflation proves more persistent than previously anticipated. Yet, they expected that it would fade next year. As noted in the report, the present inflationary pressure has
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Discover probably the best day trading & scalping strategy for trading Forex, crypto and stock market. In this video you will discover: • How to make money trading stocks and Forex market using a simple candlestick combination and price action • how to combine the pin bar candlestick pattern with the inside bar formation to
Three day up streak to end the week The USDCHF closed the week on a more bullish note. The price closed higher for the third day in a row. On Wednesday, the low for the week stalled at the lower trend line and bounced higher (bullish bounce) Also on Wednesday, the price moved back above
Democrats unsure about Manchin on Build Back Better legislation CNN’s Manu Raju reports that Democrats are more worried about losing Sen Joe Manchin’s vote in the reconciliation package than Krysten Sinema. While Democrats are uncertain where Manchin will come down, they are far more reassured that Arizona Sen. Kyrsten Sinema will ultimately back the Build
New Delhi: Markets regulator Sebi has amended rules to introduce silver exchange traded funds, a move that will expand the options available for investing in commodities through stock exchanges. Currently, Indian mutual funds are allowed to launch ETFs (Exchange Traded Funds) tracking gold. The watchdog has amended the rules to enable the introduction of silver
Shipping containers in the Port of Los Angeles in Los Angeles, California, U.S., on Wednesday, Oct. 13, 2021. Kyle Grillot | Bloomberg | Getty Images The rate of consumer price increases jumped to a three-decade high in October as supply chain disruptions and holiday-shopping demand fueled inflation across a range of industries. But as hot
In this article AMZN AFRM Drew Angerer / Getty Images Shares of Affirm, the digital “buy now, pay later” company, soared as high as 30% in after-hours trading Wednesday, after the company said it would expand its partnership with Amazon. The company also beat analyst estimates on revenue in the fiscal first quarter. Here’s how
USD/CAD slump for the first time in three days after posting losses of almost 1.70%. USD/CAD fell amid US dollar weakness across the board. USD/CAD: The 1-hour chart depicts a triple top chart pattern, with a target of 1.2530. USD/CAD struggles to gain traction above 1.2600, is falling 0.31%, trading at 1.2549 during the New
The Central Committee of the Chinese Communist Party (CCP) expels a top provincial official after investigations suggest unlawful emgagement with crypto mining activities among other abuse of power. The Central Commission for Discipline Inspection (CCDI) alleged that Xiao Yi, former vice-chairman of the Chinese People’s Political Consultative Conference from Jiangxi province abused his state-backed administrative
Traders added to the bet of a June rate hike by Fed after stronger consumer inflation reading. Dollar surged across the board with Dollar index taking out an important fibonacci level. Benchmark currency yields staged a strong rebound. But stocks were very resilient despite intensify speculation of an early Fed hike and rising yields. Gold
NASDAQ index leads the way The major US indices are rebounding today and closing near session highs. The solid gains also cut into the losses for the week. However major indices still closed lower for the first time in six trading weeks. The Dow industrial snapped a three day losing streak S&P and NASDAQ closed
Forex news for North American trade on November 12, 2021: Markets: Gold up $3 to $1865 US 10-year yields up 2 bps to 1.57% WTI crude oil down 78-cents to $80.81 S&P 500 up 32 points to 4681 AUD leads, EUR lags The UMich survey has a spotty recent history but a 10-year low is
Gold was flat on Friday but was set for its biggest weekly jump in six months, as high U.S. consumer prices drove interest in the metal as an inflation hedge. FUNDAMENTALS * Spot gold was steady at $1,860.81 per ounce by 0110 GMT, after leaping to a five-month peak on Wednesday. U.S. gold futures edged
A pedestrian walks by a now hiring sign at a Lamps Plus store on September 16, 2021 in San Francisco, California. Justin Sullivan | Getty Images Consumer confidence hit a 10-year low in November as inflation climbed to the highest levels since the early 1990s, complicating efforts from policymakers to sell the case that the
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