The major US stock indices rebounded after its first declining week last week in over 2 months (9 week win streak). The Nasdaq index surged over 319 points or 2.20%. The Dow Industrial Average which was dragged down by Boeing shares (down $-20.26 or -18.1%) still closed higher by 0.58%. A snapshot of the final
Month: January 2024
Falling rates of inflation in the Tokyo area will likely translate to national CPI figures due in around 3 weeks. The underlying rate of inflation, the core-core (ex food and energy), which is closest to the US measure of core inflation, remains well above the Bank of Japan 2% target and argues for a reduction
Oil prices fell by more than 4% on Monday on sharp price cuts by top exporter Saudi Arabia and a rise in OPEC output, offsetting supply concerns generated by escalating geopolitical tension in the Middle East. Brent crude slid 4.2%, or $3.38, to $75.38 a barrel by 1440 GMT while U.S. West Texas Intermediate crude
In today’s relatively subdued markets, the notable development is weakness in commodity currencies, led by Australian Dollar. This decline comes amid a drop in oil prices following Saudi Arabia’s decision to cut official selling prices across all regions. Additionally, precious metals have softened in response to rebound in global benchmark treasury yields. The downward trend
A screen displays the Dow Jones Industrial Average after the closing bell on the floor at the New York Stock Exchange on Dec. 13, 2023. Brendan Mcdermid | Reuters The global economy is moving into a new “super cycle,” with artificial intelligence and decarbonization being driving factors, according to Peter Oppenheimer, head of macro research
Share: European Central Bank (ECB) Governing Council member Boris Vujcic said on Monday that he thinks the Eurozone will be able to avoid a recession, as reported by Bloomberg. Vujcic noted that he also expects inflation to slow gradually, adding that they are not discussing rate cuts and they probably will not do so before summer.
The US jobs data was initially interpreted as strong. However, after reevaluation things like the revisions, a quirky tumble in the participation rate and data from the household survey painted a more sanguined vision and the USD moved back lower. Later the ISM services data came in much weaker than expectations and the “fast break
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Oil prices fell by more than 1% on Monday on sharp price cuts by top exporter Saudi Arabia and a rise in OPEC output, offsetting worries about escalating geopolitical tension in the Middle East. Brent crude slipped 0.93%, or 73 cents, to $78.03 a barrel by 0753 GMT after falling more than 1% earlier in
Australian Dollar trades broadly lower in today’s Asian session, influenced by notable decline in Hong Kong and Chinese stock markets as driven by selloff in technology stocks in these regions. Additionally, there is growing investor caution ahead of impending economic data from China, which is anticipated to highlight deepened deflation and challenges in the export
Share: The Federal Reserve (Fed) Bank of Dallas President Lorie Logan said on Saturday that the central bank may need to continue raising its short-term policy rate to keep a recent decline in long-term bond yields from rekindling inflation. Key quotes “Premature easing of financial conditions could allow demand to pick back up.” “If we
Like all the other major currency pairs, the USD moved higher vs the CHF soon after the US jobs reports, then reevaluated the data. The ISM services data pointed to a less positive jobs picture and growth prospects, and the price action in the USDCHF was back to the downside. On the move higher, the
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Gold prices were on track for their first weekly fall in four on Friday, as waning expectations of an early interest rate cut in the U.S. boosted the dollar, while investors focussed on a key employment report due later in the day for more rate clues. FUNDAMENTALS * Spot gold was up 0.1% at $2,054.10
A pedestrian holds an umbrella as they walk along a street in the rain in Times Square, New York, on Sept. 26, 2023. Ed Jones | AFP | Getty Images The state of the U.S. economy may be a chief concern among Americans, but 2023 wound up as a pretty good year for the macroenvironment.
Share: DXY Index retreats after the latest string of US data holds onto weekly gains United States NFPs from December were higher than expected, as well as Average Hourly Earnings, while the Unemployment Rate stood at 3.7%. The Services ISM PMI from the same month was disappointing. The US Dollar (USD), represented by the Dollar
The AUDUSD has reversed back higher with the overall USD selling after the weaker ISM services data and the ambiguous US jobs report. The move higher has now taken the price back above the close from yesterday at 0.6706. A close above would snap a 5-day losing streak in the pair which saw the price
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