Gold prices rose on Thursday, as the U.S. dollar and Treasury yields fell on mounting expectations of slower monetary policy tightening by the Federal Reserve later in the year. FUNDAMENTALS * Spot gold rose 0.3% to $1,669.16 per ounce by 0116 GMT, after hitting a two-week high on Wednesday. * U.S. gold futures were up
Month: October 2022
Dollar was sold off overnight as stock markets extended rebound. But there is no clear downside breakout in the greenback yet. For now, Sterling is the strongest one for the week as political situation in the UK appears to have stabilized. Euro is the second best as helped by rally against Swiss Franc. Dollar is
Jerome Powell, chairman of the US Federal Reserve, speaks during a Fed Listens event in Washington, D.C., US, on Friday, Sept. 23, 2022. Al Drago | Bloomberg | Getty Images Political questioning of Federal Reserve Chair Jerome Powell about the central bank’s policy moves is intensifying, this time from the other side of the aisle.
Gold price is displaying topsy-turvy moves as investors await the release of the US economic data. The US GDP is expected to deliver positive growth despite an extreme hawkish environment. Advancing core CPI has failed to deliver a decline in demand for durable goods. Gold price (XAU/USD) is broadly auctioning in a bounded territory as
In this article META Follow your favorite stocksCREATE FREE ACCOUNT Mark Zuckerberg, co-founder and CEO of Meta Platforms, in July 2021. Kevin Dietsch | Getty Images News | Getty Images Meta reports third-quarter earnings on Wednesday after the bell. Here’s what analysts are expecting: Earnings: $1.89 per share, according to Refinitiv Revenue: $27.38 billion, according
Adam called the USDCAD right. The BOC hiked by 50 basis points instead of 75 basis points, and that initially sent the USDCAD higher (CAD lower). However, as Adam pointed out in his post, the Bank of Canada surprise move could set the stage for the CAD rally. That is exactly what happened. Click on
The major European indices are closing higher and near their highs for the day. They also erased earlier declines. The Bank of Canada shift to 50 BPs instead of 75 BPs gave investors a “risk-on” bias. Stocks are higher. Yields are lower and the USD is lower. A summary of the major indices shows: German
Oil prices eased on Wednesday after industry data showed U.S. crude stockpiles rose more than expected, but losses were capped by supply worries. Brent crude futures for December fell 72 cents, or 0.8%, to $92.80 a barrel by 0330 GMT, after settling 26 cents higher in the previous session. U.S. West Texas Intermediate (WTI) crude
Dollar’s decline takes off today on talks that poor economic data would prompt Fed to slow down the tightening pace sooner than earlier expected. Treasury yields also tumbled, adding some more weight to the greenback. Yet, it should be noted that inflation remains Fed’s biggest worry. There is little room for a pause if inflation
David Solomon, CEO, Goldman Sachs, speaking at the World Economic Forum in Davos, Switzerland, Jan. 23, 2020. Adam Galacia | CNBC Goldman Sachs CEO David Solomon and JPMorgan CEO Jamie Dimon both expect a U.S. recession as a tight labor market keeps the Federal Reserve on an aggressive monetary policy tightening trajectory. Speaking on a
Data released on Wednesday showed that New Homes Sales fell 10.9% in the United States in September to an annual rate of 603K, above 583K of market consensus. Analysts at Wells Fargo point out sales are likely to continue to decline in the months ahead. Key Quotes: “August’s robust growth in sales, which was driven
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ARK Innovation skims the Covid lows and is seeing a bounce. Have a hunch and want to be in the riskier stocks? Bet a bunch. Buy the ARKK The ARK Innovation fund – managed by Cathie Wood – moved to a low of $33.74 on October 13. Yesterday the low reached $34.06. Today the price
Not much else needs to be said really. As we get into this hectic period over the next week or so, expect the bond market and rates to be key drivers of trading sentiment as broader markets will look to assess the next steps by major central banks. The dollar and equities will also take
In this article GOOGL Follow your favorite stocksCREATE FREE ACCOUNT Alphabet shares dropped about 7% in extended trading on Tuesday after the company reported weaker-than-expected earnings and revenue for the third quarter and said it would significantly decrease headcount growth. Earnings per share (EPS): $1.06 vs. $1.25 expected, according to Refinitiv estimates. Revenue: $69.09 billion
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