Gold futures have given negative returns in May, dragged by strength in the Dollar Index (DXY) which is now hovering over 104 against a basket of six major currencies. Yellow metal is likely to take cues from the bullion prices in international markets, going ahead. With the US debt ceiling likely to get resolved soon
Month: May 2023
Dollar has maintained its position as the strongest performer for the week, despite the noticeable waning of its upside momentum over the past two days. Today, markets anticipates the release of several US economic indicators, including PCE inflation and durable goods orders. However, the primary driver is likely to be any updates on the debt
Traders work on the floor of the New York Stock Exchange during morning trading on May 17, 2023 in New York City. Michael M. Santiago | Getty Images A U.S. recession may prevent a steep market downturn in the second half of 2023, according to Michael Yoshikami, founder and CEO of Destination Wealth Management. U.S.
Sebastian Siemiatkowski, CEO of Klarna, speaking at a fintech event in London on Monday, April 4, 2022. Chris Ratcliffe | Bloomberg via Getty Images Klarna, the Swedish buy now, pay later fintech company, halved its net loss in the first quarter, recording a significant improvement in its bottom line after a major cost-cutting drive. The
Share: US Dollar is abating a little bit against most G7 pairs after its big rally this week, awaiting a string of macroeconomic data this Friday. US debt-ceiling talks continue into Friday, Biden mentions possible spending freeze and denies default. US Dollar Index lets loose of 104 and retreats to 103.85 while awaiting US macroeconomic data in order
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The US major indices are closing mixed with the Dow down for the 5th consecutive day in what was an up-and-down trading day for it. However, the S&P closed higher. The Nasdaq index surged 1.71% as Nvidia led to the flow of funds into it and other AI type stocks. Nvidia rose 24.37% Microsoft rose
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Gold slid to its lowest in two months on Thursday as optimism around the U.S. debt ceiling talks lowered safe-haven demand for bullion and robust economic data fueled bets of another rate hike by the Federal Reserve. Spot gold was 0.4% down at $1,949.69 per ounce by 10:10 a.m. EDT (1410 GMT), having hit its
Dollar continues to be the strongest one for the week and sees fresh buying in early US session. Republican House Speaker Kevin McCarthy noted the debt ceiling negotiations have made some progress. But that was largely ignored by stock investors, even through treasury yields are on the rise. As for today, Canadian Dollar and Swiss
In this article NVDA .IXIC .SPX Follow your favorite stocksCREATE FREE ACCOUNT A Nvidia logo is seen on the company’s building at an industry park on February 7, 2019 in Tianjin, China. VCG | Visual China Group | Getty Images A blockbuster profit report Wednesday from Nvidia crystallized an important point for both markets and
In this article GPS Follow your favorite stocksCREATE FREE ACCOUNT The Gap logo is displayed at a Gap store on April 25, 2023 in Los Angeles, California. Mario Tama | Getty Images Gap reported another quarter of net losses and declining sales across its four brands but the retailer insisted it’s making progress – and
Share: Retail Sales Overview Early Friday, around 01:30 AM GMT, the market sees preliminary readings of Australia’s seasonally adjusted Retail Sales for April month. Market consensus suggests an easing in the seasonally adjusted monthly print to 0.2% MoM, suggesting more headwinds for the pressure Reserve Bank of Australia (RBA), especially after the Reserve Bank of
On the daily chart below for Gold, we can see that gold is pulling back all the way down to our projected target at the 1934 level where we can also find the 50% Fibonacci retracement level and the trendline. The correction started once Gold reached the record high at 2076 and we got a
This adds to the earlier decision from Fitch here, which is pretty much the same story. DBRS Morningstar notes that the review with negative implications “reflects the risk of Congress failing to increase or suspend the debt ceiling in a timely manner”. Adding that: “While we still expect Congress to raise the debt ceiling before
– Gold prices held steady on Thursday after minutes from the U.S. Federal Reserve’s last meeting signalled a likely pause in the rate-hike campaign in June, while debt ceiling negotiations kept investors on the edge. FUNDAMENTALS * Spot gold was flat at $1,957.69 per ounce by 0034 GMT. U.S. gold futures were down 0.2% at
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