Inflation rose more than expected in January as stubbornly high shelter prices weighed on consumers, the Labor Department reported Tuesday. The consumer price index, a broad-based measure of the prices shoppers face for goods and services across the economy, increased 0.3% for the month, the Bureau of Labor Statistics reported. On a 12-month basis, that
Month: February 2024
Share: EUR/USD was rejected around 1.0800 on Monday. Economists at ING analyze the pair’s outlook. Growth outlook not that relevant for the ECB We like the chances of a moderate uptick in the pair this week. One risk to this view is the ZEW survey published in Germany today. Consensus is aligned for a modest
USD The Fed left interest rates unchanged as expected while dropping the tightening bias in the statement but adding a slight pushback against a March rate cut. Fed Chair Powell stressed that they want to see more evidence of inflation falling back to target and that a rate cut in March is not their base
S&P 500 futures Of note, S&P 500 futures are now down some 17 points, or 0.3%, on the day. In turn, European indices are also dribbling lower with the DAX down 0.6% and CAC 40 down 0.3% currently. This looks to be traders taking in some caution as we move towards the US CPI data
Gold and silver contracts resumed trading on Tuesday after a four-hour delay amid a technical glitch that forced a shutdown of trade on the Multi Commodity Exchange (MCX). Bullion started on a positive note at 1 pm today with MCX April gold futures trading at Rs 62,270 per 10 grams at 1:30 pm, up nearly
New Zealand Dollar falls notably during Asian session, triggered by the latest survey from the RBNZ, which revealed a further easing in inflation expectations. The implications of these findings have prompted traders to pare back the bets on the likelihood of more monetary tightening imminent meeting February. Australian Dollar is also dragged down by the
DUBAI, United Arab Emirates — China is facing a confidence deficit as its economy undergoes massive transition and concern grows over its ongoing property crisis, a top banking CEO said while onstage at Dubai’s World Governments Summit. “China’s biggest problem to me is a lack of confidence. External investors lack confidence in China and domestic
The price of WTI crude oil handed up-and-down session with the price settling at $76.92, up eight cents or 0.10%. The high price reached $77.09. The low price was at $75.54. Crude oil Looking at the daily chart, the 200-day moving averages about $77.36 (greenlining the chart above. That moving average was tested during Friday’s
It might be time for US natural gas producers to turn off the pumps. Henry Hub is trading at $1.74 for March delivery, which is the lowest sine the early months of the pandemic. Excluding covid, you have to go back to 2016 when it only briefly traded below these levels. Worse yet, sub-$2 prices
Oil prices slipped on Monday as investors indulged in some profit-taking after both benchmarks ended last week about 6% higher on Middle East tensions and as refining outages squeezed refined products markets. Brent crude futures were down 54 cents, or about 0.7%, at $81.65 a barrel, while U.S. West Texas Intermediate crude futures slipped 32
Japanese Yen stages a broad recovery today, buoyed by notable retreat in European benchmark yields. Meanwhile, Dollar is softening against Yen, yet holding its ground across other major currencies. New Zealand Dollar emerges as the day’s underperformer, yet its losses remain contained within Friday’s range against all counterparts. Sterling and Euro follow closely as the
In this article CVS Follow your favorite stocksCREATE FREE ACCOUNT A CVS location in New York, US, on Thursday, Feb. 9, 2023. Stephanie Keith | Bloomberg | Getty Images CVS Health on Wednesday reported fourth-quarter revenue and adjusted earnings that topped expectations, but the company cut its full-year profit outlook, citing higher medical costs that
Share: Canadian Dollar sees thin gains with support from steady Crude Oil bids. Canada sees a data-light economic calendar this week. Markets kick off the new trading week on a quiet note ahead of key US inflation data. The Canadian Dollar (CAD) found some room on the high side on Monday, drifting into the green
Kristalina Georgieva, managing director of the International Monetary Fund, at a press conference at the IMF Headquarters on April 14, 2023. Kevin Dietsch | Getty Images News | Getty Images DUBAI, United Arab Emirates — The head of the International Monetary Fund warned the Russian economy is still facing significant head winds despite receiving a
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The USDCHF moved higher this week and in the process was able to extend above the January high at 0.87277. Yesterday the high reached 0.87614 before rotating to the downside into the Asian session open. The low price stalled against the old high from January at 0.87277, before moving to the upside and retesting the
EUR/USD daily chart The low last week tested the December low of 1.0723 and buyers held their ground. Since then, price action has been a bit more muted though. The 100-day moving average (red line) has kept a lid on any upside move while the floor remains at the December low. It shows that traders
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