The week ending December 8 was a tumultuous one for gold as the metal, on seemingly dovish Fedspeak, reached a fresh all-time high of $2,135 in the Asian session, before it closed lower the same day to consolidate for the rest of the week until Friday. It slid further lower to close with a weekly
Month: December 2023
The global financial markets last week were primarily influenced by three pivotal themes: Yen’s dramatic rise, Dollar’s strength following robust US employment data, and repercussions of Moody’s downgrading China’s rating outlook. The most striking was the Yen’s significant surge, driven by intensified speculation about an impending exit from negative interest rates by BoJ. The anticipation
Commuters arrive at the Oculus Center in Manhattan, New York City, on Nov. 17, 2022. Spencer Platt | Getty Images The labor market deteriorated for both Asian and Black workers in November, according to data released Friday by the U.S. Department of Labor. The overall unemployment rate declined 0.2% to 3.7% last month, against a
Share: The Canadian Dollar follows a broad-market risk bid to higher ground on Friday. Economic data from Canada is thin on Friday, as well as all next week. Crude Oil takes a little off the top, paring back recent losses and helping to prop up the CAD. The Canadian Dollar (CAD) gained ground across the FX
The price of WTI crude oil futures are settling the week at $71.23. That’s up $1.89 or 2.73%. Monday, Tuesday and Wednesday saw the price tumble from Friday’s close of $74.07 to a low-price reached yesterday (before rebounding) at $68.80. The rebound today retraced some of the declines. However, for the week, the price is
The US jobs report was stronger than expectations. That sent yields higher, but when the Michigan consumer sentiment also showed strength but with sharply lower inflation expectations, stocks rebounded. Although prices traded up and down and today, they are closing higher and in the process the: S&P index traded to a new 52-week high and
Gold prices fell on Friday as the dollar and Treasury yields strengthened after traders lowered bets for US interest rate cuts to materialize by March next year following a stronger-than-expected jobs data. Spot gold fell 1% to $2,008.79 per ounce by 9:55 a.m. ET (1455 GMT), and was down nearly 1% for the week so
Japanese Yen continues to dominate as the strongest currency for the week, finding additional support from Japan’s unexpectedly robust wage growth data. However, its rally is currently pausing, with global financial markets redirecting their focus towards the impending US non-farm payroll data. Dollar, currently ranking as the second strongest currency, faces a critical test with
A UPS seasonal worker delivers packages on Cyber Monday in New York on Nov. 27, 2023. Stephanie Keith | Bloomberg | Getty Images November’s solid jobs report did not assure that the economy will come in for a soft landing, but it did help to clear the runway a little more. After all, there’s nothing
In this article DG Follow your favorite stocksCREATE FREE ACCOUNT The exterior of a Dollar General convenience store is seen in Austin, Texas, on March 16, 2023. Brandon Bell | Getty Images Dollar General has gotten hit by steep fines for safety violations, slammed on late-night TV and even overruled by its own shareholders. On
Share: Mexican Peso recovers from around weekly lows, and reclaims the 100-day SMA. Mexico’s Producer Price Index was softer than estimated, keeping Banxico’s hopes of easing policy next year alive. US Nonfarm Payrolls in November were better than foreseen, in contrast to previously released jobs data. Mexican Peso (MXN) rallies against the US Dollar (USD)
The University of Michigan consumer sentiment showed a sharp increase to 69.4 from 61.3 last month. The estimate was for 62.0. However, what the forex market is reacting to is the lower inflation expectations. The one-year inflation measure decreased to 3.1% from 4.5% last month. The five-year inflation measure moved to 2.8% from 3.2%. The
A man can dream, right? Today might end with the biggest Canada-Japan trade of all time. Well maybe not in financial markets but certainly in the world of sports. The rumor mill is insane right now around baseball megastar Shohei Ohtani and the possibility that he signs with the Toronto Blue Jays. The two-time MVP
Taking cues from the price of yellow metal in the international market, MCX February gold futures were trading at Rs 62,512 at the opening time, up Rs 46 or 0.07% from Thursday’s closing price. Meanwhile, the March Silver futures were trading at Rs 74,649 per kg, higher by Rs 336 or 0.45%. Read More In
Dollar jumps in early US session, buoyed by a robust set of employment data. headline job growth exceeded expectations, narrowly missing 200k mark, while unemployment rate showed a decline. This data suggests a still-tight job market, raising concerns among some market participants that underlying inflation pressures may not be easing as hoped. Notably, strong wage
The U.S. job market once again surprised to the upside in November, as strong growth in health care and a few other sectors helped the economy add nearly 200,000 jobs and push the unemployment rate down. Health care and social assistance added more than 93,000 jobs for the month, making it the top category for
In this article LULU Follow your favorite stocksCREATE FREE ACCOUNT Black Friday shoppers at a Lululemon store at the Garden State Plaza in New Jersey. Mike Calia | CNBC Lululemon on Thursday said it saw strong third-quarter demand, but the retailer’s shares fell as it gave a tepid holiday outlook. Though sales grew across North
BBVA Switzerland, the Swiss branch of one of the largest Spanish banks, has announced it will use Ripple-owned tech firm Metaco’s Harmonize platform for its crypto custody operations with institutional investors. According to the press release published on Dec. 7, BBVA, which has been providing Bitcoin (BTC) and Ether (ETH) custody since 2021, migrated its
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