Oil prices fell further on Friday, as demand fears due to macroeconomic headwinds were compounded by another partial lifting of Russia’s fuel export ban. On Friday, Brent futures were down 47 cents, or 0.56%, at $83.60 at 1411 GMT, while U.S. West Texas Intermediate crude futures were down 55 cents, or 0.67%, at $81.76. Brent
Month: October 2023
Dollar is showing impressive strength in the early US session, boosted by job growth figures that nearly doubled market predictions. While wage growth figures mildly underwhelmed, it didn’t deter traders’ enthusiasm, propelling the Dollar to potentially conclude the week as the dominant currency. Notably, Dollar has made up for its earlier losses against Yen, stemming
The U.S. unemployment rate held steady in September but ticked down among Hispanic workers, according to data released Friday by the U.S. Department of Labor. September’s nonfarm payrolls report showed a blockbuster month of higher numbers across the board. The economy added 336,000 jobs last month, blowing past the 170,000 estimate from economists polled by
Bitcoin (BTC) saw a snap retest of $27,000 around the Oct. 6 Wall Street open as wildcard United States employment data rattled markets. BTC/USD 1-hour chart. Source: TradingView Analysis: Jobs data “not what Fed wanted to see” Data from Cointelegraph Markets Pro and TradingView followed BTC price action as the largest cryptocurrency lost 2.1% in
Share: Gold price trades back and forth as investors await US official Employment data. Taking cues from the US ADP Employment report, job creation is foreseen to slow. Fed’s Daly sees no more rate hikes if the labor market slows and inflation remains close to 4%. Gold price (XAU/USD) delivers V-shape recovery despite the United States Nonfarm
US: The Fed left interest rates unchanged as expected at the last meeting. 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.
Treasury yields are still higher but the earlier gains from the US dollar have evaporated. Leading the gainers are the yen and pound. The latter is now higher for the third day in a row and is back above 1.2200. Could this be the start of a bigger retracement? cable daily What happens later with
The Multi Commodity Exchange (MCX) has rescheduled the launch of its options contracts linked to NYMEX WTI crude oil and natural gas to Monday, October 9, from the earlier announced date of October 16, MCX filing said. On September 26, India’s largest commodity exchange announced that it has received a nod from the Securities and
Dollar, despite retracting some of its earlier gains, remains robust, demonstrating resilience as one of the week’s frontrunners. At the same time Yen and, to a lesser extent, Swiss Franc is showing strength too, underscoring the markets’ cautious stance. Meanwhile, commodity currencies are languishing at the lower echelons, with New Zealand Dollar marginally outperforming its
A help wanted sign on a storefront in Ocean City, New Jersey, US, on Friday, Aug. 18, 2023. Surveys suggest that despite cooling inflation and jobs gains, Americans remain deeply skeptical of the president’s handling of the post-pandemic economy. Photographer: Al Drago/Bloomberg via Getty Images Al Drago | Bloomberg | Getty Images Inflation is “always
In this article STZ Follow your favorite stocksCREATE FREE ACCOUNT In this photo illustration, bottles of Modelo Especial beer sit on a table on June 14, 2023 in Los Angeles, California. Mario Tama | Getty Images Constellation Brands on Thursday reported earnings and revenue that topped analysts’ expectations for its fiscal second quarter of 2024. The Mexican
Share: Japanese Finance Minister Shunichi Suzuki declined once again on Thursday to “comment on whether Japan intervened in FX market.” Additional quotes There are many factors to determine whether moves in FX are “excessive”. No change in how govt would deal with those. Market reaction USD/JPY is trading on the front foot near 148.60, despite
In the earlier video (see above), I spoke of the key swing area in the crude oil at a swing area between $82.35 and $83.32. Since then the price moved up but only to $83.37 – just above the high of the swing area. Since then, the price has rotated back down over the last
Fox with the report that former US President Trump says he’d step in as Speaker of the US House. “I have been asked to speak as a unifier because I have so many friends in Congress,” “If they don’t get the vote, they have asked me if I would consider taking the speakership until they
Oil prices dipped on Thursday as an uncertain demand outlook overshadowed an OPEC+ decision to maintain oil output cuts, keeping supply tight. Brent crude oil futures fell 68 cents, or 0.8%, to $85.19 a barrel by 11:07 a.m. ET (1507 GMT). U.S. West Texas Intermediate crude futures were 67 cents, or 0.8%, lower at $83.55.
British Pound emerged as the weakest link, facing headwinds following subpar construction data. Not far behind in performance was the Canadian Dollar, which felt the pressure from the ongoing plunge in oil prices. Dollar, while still in a commanding position, appears to be taking a pause, digesting its recent upticks. Contrastingly, Australian and New Zealand
Columbia South Carolina, Chick-fil-A, fast food restaurant with sign advertising $15 an hour to be hospitable. Jeff Greenberg | Universal Images Group | Getty Images A strong jobs market could equal a weak stock market if current trends hold up. Friday’s nonfarm payrolls report will provide a major test for Wall Street, which has been
In this article LEVI Follow your favorite stocksCREATE FREE ACCOUNT Levi’s 501 blue jeans on display. Sean Gallup | Getty Images Levi Strauss on Thursday cut its full-year sales forecast, as it missed Wall Street’s quarterly revenue expectations and was dragged down by weaker shopping trends at department stores and big-box retailers across the U.S.