UPCOMING EVENTS: Monday: Switzerland CPI and Retail Sales, Eurozone Retail Sales. Tuesday: Tokyo CPI, Australia Retail Sales, Switzerland Unemployment Rate, Eurozone Unemployment Rate, US NFIB Small Business Optimism Index. Wednesday: Japan Wages data, Australia Monthly CPI. Thursday: US CPI, US Jobless Claims. Friday: China CPI, UK GDP, US PPI. Monday The Switzerland CPI Y/Y is
Month: January 2024
Amid a slow start for gold in 2024, spotting trends and outlook for gold and silver prices will carry significant weight. One such opportunity has come in the form of recent corrections in bullion. Buy on dips The recent nuanced landscape in gold prices, marked by a drop from 64,000 to 61,000, unveils a compelling
The onset of 2024 marked a notable shift in global market sentiment. Major U.S. stock indexes ended their nine-week winning streak, closing lower, while major benchmark treasury yields experienced a notable recovery. Concurrently, this shift in market dynamics was accompanied by a scaling back of bets on an immediate rate cut by Fed. Amidst these
Hiring in the private sector rose at a faster-than-expected pace in December, closing out a strong 2023 for the resilient U.S. jobs market, ADP reported Thursday. Private payrolls increased by 164,000 for the month, a substantial rise from the downwardly revised 101,000 in November and better than the 130,000 estimate from the Dow Jones consensus,
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Share: EUR/USD whipped in hectic Friday action following Eurozone inflation, US labor data. European inflation continues to hamper the ECB, while US jobs data beat the street. EUR/USD wraps up the week near 1.0940. The EUR/USD fell to a three-week low on Friday after European inflation rebounded higher in December, with the Eurozone Harmonized Index
The major stock indices are giving up their gains. Dow is now down -82 points or -0.22% at 37357. The high saw the indes up 183.27 points S&P is up 1.29 points or 0.03% at 4689.80. At session high, the index was up 32.80 points Nasdaq is up 13.6 points or 0.09% at 14524.44. At
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Following two consecutive years of underperformance, gold made a swift turnaround in 2023, gaining more than 15% in the international market. Multiple catalysts like geopolitical tensions, US Fed policy decisions, a volatile US currency, and a pessimistic global growth outlook reinforced its safe-haven status. The Russia-Ukraine war and the unforeseen events in West Asia due
The U.S. labor market closed out 2023 in strong shape as the pace of hiring was even more powerful than expected, the Labor Department reported Friday. December’s jobs report showed employers added 216,000 positions for the month while the unemployment rate held at 3.7%. Payroll growth showed a sizeable gain from November’s downwardly revised 173,000.
Share: The Canadian Dollar is etching in a broad range on NFP Friday. Canada jobs additions crumble, US jobs easily beat the street. Despite weak labor figures, Canadian wage pressures persist. The Canadian Dollar (CAD) slumped to a new low for the week against the US Dollar (USD) before surging to a three-day high as
The 10-year yield has moved back to the upside with the yield back above 4.0% and up to 4.05%. The high reached 4.10% soon after the jobs report, and then fell sharply to 3.955% at session lows, before starting it’s move back to the upside. Below 4% being rejected. Now with the yield moving back
S&P 500 weekly Closing changes on the day: S&P 500 up 0.2% DJIA +0.1% Russell 2000 -0.2% Nasdaq Comp +0.1% Toronto TSX Comp +0.2% Closing changes on the week: S&P 500 down 1.5% DJIA -0.6% Russell 2000 -3.6% Nasdaq Comp -3.25% Toronto TSX Comp -0.3% Coming into this week, the S&P 500 and Nasdaq had
Helped by weaker-than-expected US ISM services data that negated the impact of an encouraging non-farm payroll report, spot gold recovered in an extremely volatile session on Friday to close with a gain of 0.12% at $2,046. However, despite an impressive recovery from Friday’s low of $2,024, the metal closed with a loss of around 0.80%
Getty Images The U.S. labor market beat expectations again in December, adding 216,000 jobs to close out the year while the unemployment rate held steady at 3.7%. Yet the job gains were slower than the same period a year ago, with the three-month average gain dropping to 165,000 a month compared with an average of
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Share: Mexican Peso gains against USD, with USD/MXN falling to 16.87 after US jobs data shows higher-than-expected employment growth. Banxico’s recent minutes highlight ongoing inflation challenges, affirming the need for stable interest rates. Economic data from the United States was mixed, though it maintains a Goldilocks scenario. US Treasury yields rise as market expectations for Fed
The USDCAD has seen volatile up-and-down price action today. However, if there is a tilt, the tilt is to the upside as the price is above the 100-hour MA at 1.33214. Staying above that level going forward would keep the buyers more in control. Having said that, there is work to do for the buyers.