Gold prices edged higher on Friday, helped by a slight pullback in the dollar and bond yields as investors digested a hawkish stance from the Federal Reserve and waited for more comments from policymakers for clues on the rate outlook. Spot gold rose 0.3% to $1,924.60 per ounce by 09:53 a.m. EDT (1353 GMT), following
Month: September 2023
The NZD and the AUD are ending the day as the strongest of the major currencies. The JPY is the weakest. The latest central bank decision came before the US open, when the Bank of Japan in The rates unchanged but did say that they would consider easy policy exit 1 achievement 2% inflation is
Sterling finds itself under tremendous selling pressure following release of lower-than-anticipated headline and core CPI readings from the UK. This development is seen as a favorable turn of events for BoE policymakers, solidifying the anticipation that the rate hike expected to be announced tomorrow may be the last in the current cycle. On the heels
United States regulators including the Securities and Exchange Commission (SEC) have ongoing civil cases against major cryptocurrency firms including Binance, Coinbase, and Ripple, but not every company has been subject to the same treatment. Gary Gensler, serving as SEC chair since 2021, has been widely criticized by many lawmakers and industry leaders for a “regulation
Share: AUD/USD is up 0.51%, benefiting from the overall weakness of US Dollar. Despite hawkish remarks from various Fed officials, the US Dollar remains subdued, with the DXY showing modest gains at 105.55. Solid PMIs in Australia and considerations of rate hikes by the RBA support the AUD. Key economic data scheduled for release next
The USDCAD traded down and up and down and up and back down and up this week (see hourly chart below). The high price on Monday was retested on Thursday. The low on Tuesday saw the pair, move to and through the 100-day MA (lower blue overlay line on the chart below at 1.3398) but
Oil prices rose on Friday as renewed global supply concerns from Russia‘s fuel export ban counteracted fears that slowing economies and high interest rates could crimp demand. Brent futures were up 78 cents, or 0.84%, at $94.08 a barrel by 1443 GMT, while U.S. West Texas Intermediate crude (WTI) futures rose by $1.02, or 1.14%,
> Stallantis: We have a real soluton on the table Stallantis responds to the UAW strikes Still have not yet received a response to Thursday’s offer We have a real solution on the table. Offer includes a long-term solution for Belvidere The offer includes current full-time employees earning between $80,000 and $96,000 a year by
Yen languishes as the day’s worst performer, with sentiments taking a hit due to BoJ’s silence on potential policy tweaks. European majors aren’t faring much better, as subpar PMI data from both Eurozone and UK echo the sentiment that further tightening might not be on the cards for ECB and BoE. The Swiss Franc also
In this article GS Follow your favorite stocksCREATE FREE ACCOUNT Frederic J. Brown | AFP | Getty Images Credit card companies are racking up losses at the fastest pace in almost 30 years, outside of the Great Financial Crisis, according to Goldman Sachs. Credit card losses bottomed in September 2021, and while initial increases were
Share: Oil (WTI) goes sideways in the range between $88 to $93. The US Dollar consolidates a new six-month high and is set to close a tenth consecutive week in the green. Headline decline from Saudi Arabia or Russia guides oil prices in a calmer regime. Oil prices are trading in a calmer pattern that
US: The Fed left interest rates unchanged as expected. The macroeconomic projections were revised higher as the economy showed much stronger resilience than expected and the Dot Plot showed that the majority of members still expects another rate hike by the end of the year with less rate cuts in 2024. Fed Chair Powell reaffirmed
International gold prices were up on Friday in the morning trade though the uptick was capped amid continued strength in the dollar index (DXY) which was up 0.14% at 105.63 against six major currencies. However, the gold rate on the MCX took a downturn as traders preferred booking profits. The MCX October gold futures were
USD/JPY 5 mins chart After he supposedly let slip on a “quiet exit” in the interview here two weekends ago, there were some quarters of the market that reacted strongly in thinking that a change is afoot at the BOJ. But when it comes down to the line, Ueda is once again disappointing yen bulls.
In a move that left many market observers bemused, Yen declined in Asian trading session after BoJ opted for continuity, leaving its monetary policy untouched. Notably, the bank refrained from dropping any hints about potential alterations in its policy stance in the foreseeable future. With US 10-year yield surging to a remarkable 16-year high, Yen
Our weekly roundup of news from East Asia curates the industry’s most important developments. JPEX scandal grows to over $166M Last week’s Token2049 conference in Singapore was a life-changing experience for some; for others the event did not meet expectations, but for a select group of individuals, the imminent prospect of being pursued by law
Share: AUD/NZD is seeing extended declines, continuing Wednesday’s backslide. Aussie is reaching lower against the Kiwi, down 0.95% for the week. Australian PMI figures came in mixed with manufacturing seeing further declines. The AUD/NZD has broken out of recent consolidation on the weak side, and the pair shrugged off a mixed trade balance printing from
Crude oil trade between 100/200 hour moving averages The price of WTI crude futures are settling at $89.63. That’s down $0.03 or -0.03%. Technically looking at the hourly chart above, the price settlement is just above its 200-hour moving average at $89.57, and below its 100-hour moving average at $90.30. That puts the price in
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