The major US indices are trading higher after tame core and headline PCE data out of the US this morning. The good news is inflation is melting away. There is some worry, however. Nike reported their earnings after the close yesterday and their guidance was not all that rosy. Shares of Nike are trading down
Month: December 2023
I was expecting something quieter last week but it was busy and volatile all week. Stats agencies tend to rush out December releases so they don’t have to release as much between Christmas and New Years. For Monday, all major western markets are closed but the FX market is open as always. The lone releases
Gold price climbed Rs 300 to Rs 63,350 per 10 grams in the national capital on Friday amid a bullish trade in the overseas markets, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 63,050 per 10 grams. Silver also jumped Rs 400 to Rs 79,500 per kilogram, while
Share: Gold pulls back after testing $2,070 ahead of Friday’s pre-holiday close. Rising investor bets of faster, more frequent Fed rate cuts squeeze Gold higher. US inflation continues to cool off, Treasuries ease back amidst risk appetite recovery. XAU/USD briefly tested above $2,070 on Friday before paring back toward the day’s opening bids. With the
EURUSD trades to highest since August 2023 The EURUSD has moved to a new week high and high going back to August 10. The next key target is that August 10 high at 1.10648. The high price today reached 1.10395 today. A move above 1.10648 will have traders targeting a swing area on the daily
The price of crude oil futures are settling at $73.56, down -$0.33 or -0.45%. The high price reached $74.95. The low price extended to $73.41. For the trading week, crude is up for the second consecutive week. The price is up $1.81 or 2.53%. Last week the price rose $0.54 or 0.75%. For the trading
Gold prices rose to their highest level in nearly three weeks on Friday as the dollar and bond yields fell ahead of key U.S. inflation data that could offer more clarity on the Federal Reserve’s interest rates path next year. Spot gold was up 0.8% to $2,061.60 per ounce at 1225 GMT and U.S. gold
Share: The Mexican Peso hit a 15-week high against the US Dollar on Friday. Mexico’s unadjusted Trade Balance hit a nine-month high in November. Friday marks the last trading day before the holiday break. The Mexican Peso (MXN) rallied to a fresh 15-week high on Friday as the broader market took one last opportunity to
GBPUSD buyers trying to push higher (again) The GBPUSD buyers are trying to push the pair above a swing area and into more open space. Having said that, the buyers are “trying”. The swing area is between 1.2723 and 1.2732 (see red numbered circles on the chart above). Looking at the chart above, there has
Major US stock indices are closing the day mixed. The Dow Industrial Average is modestly lower while the S&P and NASDAQ closed higher on the day. For the trading week, all the major indices were higher for the eighth consecutive week gain. A snapshot of the closing level shows: Dow Industrial Average fell -18.54 points
Gold prices finished above $2,000 for the fifth straight week, with Comex Feb futures ending the week at $2066.90, up by 2.4% as the dollar lost the plot to dip sharply to five-month lows of 101.4 level after the release of PCE data on Friday. Gold prices are up 13% ytd heading into the last
Share: The GBP/USD is holding on the high side after US PCE inflation settled further on Friday. UK Retail Sales grew in November, Pound Sterling bidders shrug off UK GDP QoQ decline. US Dollar flows are decidedly bearish, propping up the broader market. The GBP/USD is on the high side amidst some rough chop in
Crude oil falls back to the 50% midpoint Crude oil has taken a dip lower and is now negative on a day. The current price trades at $73.54 after peaking at $74.95 an hour or so ago. The run to the downside has now taken the price below its 100-hour movie average at $73.75. The
The year is working to an end, but before markets slow to a trickle next week, there was one more key economic release today. The headline and core PCE data – the favored inflation quide for the Fed – was released at 8:30 AM ET, and it showed a lower than expected gain of 0.1%
Gold scaled a more than two-week high on Friday, rising for a second week as the dollar and U.S. Treasury yields slipped on rising expectations the Federal Reserve will cut interest rates early next year. Spot gold was up 0.4% at $2,052.69 per ounce as of 3:50 p.m. ET (20:50 GMT), its highest level since
Yen falls broadly today after BoJ’s to maintain monetary policy unchanged. The sell-off can be attributed to the dismay of investors who had hoped for indications of a shift towards stimulus exit next year. BoJ’s steadfastness in its easing bias, without any hint of a policy adjustment, has contributed to Yen’s softening. Although this doesn’t
People shopping on Oxford Street in London. Picture date: Thursday December 29, 2022. (Photo by James Manning/PA Images via Getty Images) James Manning – Pa Images | Pa Images | Getty Images LONDON — The U.K. is edging closer to recession after revised figures showed the economy shrank in the previous quarter. U.K. gross domestic
Share: The GBP/USD is on the high side amidst some rough chop in the US market session, holding above the 1.2700 handle the pair reclaimed during the European trading window after the UK reported better-than-expected Retail Sales in November. Read More… The Pound Sterling (GBP) extends its recovery on Friday, supported by upbeat UK Retail Sales data
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