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
Month: February 2024
Notwithstanding a slight positive bias in bullion in Friday’s morning trade, gold and silver continue to tread in weak territory. Lack of demand, the likelihood of pushback in Fed rate cut and uptick in the dollar index have contributed to its decline this year. Taking cues from the global price trends, the MCX April gold
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
Swiss Franc and Japanese Yen are currently the weakest performers for the week on a couple of interrelated factors. Firstly, global central bankers are tempering expectations for early rate cuts, suggesting rate difference between SNB/BoJ and other central banks would remain large for longer. This stance has been further compounded by a significant rebound in
A display for image sharing and social media service Pinterest is seen at the Collision conference in Toronto, Ontario, Canada June 23, 2022. Chris Helgren | Reuters Pinterest shares plummeted in extended trading on Thursday after the company issued a weaker-than-expected forecast and missed on revenue. Revenue: $981 million vs. $991 million expected, according to
Share: European Central Bank (ECB) Governing Council member and Bank of France President, Francois Villeroy de Galhau, said on Friday that the central bank “will probably cut rates this year.” His comment comes after his colleague Martins Kazaks noted that he is “not optimistic for Spring rate cuts.” Market reaction EUR/USD is flirting with highs near 1.0780
Many Chinese developers have halted or delayed construction on presold homes due to cash flow problems. Pictured here is a property construction site in Jiangsu province, China, on Oct. 17, 2022. Future Publishing | Future Publishing | Getty Images China’s economy is sputtering. Its property market is crumbling, deflationary pressures are spreading across the nation,
The AUDUSD has traded down and up and is back down this week. On the run higher, the buyers had their shot to run higher with the move back above a key swing level at 0.65229, and the 100-day MA at 0.65298. However, that move failed, and the buyers have turned to sellers once again.
Oil prices gained over 2% on Thursday as investors considered the impact of Israel’s rejection of a ceasefire offer from Hamas and unexpected drops in U.S. fuel stocks. Brent crude futures rose $1.70, or 2.15%, to $80.91 a barrel by 1525 GMT. U.S. West Texas Intermediate crude futures were up $1.61, or 2.18%, at $75.47.
It’s not often that Federal Reserve Chairman Jerome Powell highlights a specific piece of economic data that he’s looking forward to but he did just that at the latest FOMC meeting. One piece of data I will be watching closely is the scheduled revisions to CPI inflation due next month. Recall that a year ago,
Dollar rises broadly in early US session, standing out in a day characterized by relatively slow news flow. The move in the greenback can be primarily attributed to the rise in US benchmark yields, which outpaced those of other regions, thereby bolstering the greenback’s appeal. Sentiment surrounding the US market remains positive, with traders showing
In this article Follow your favorite stocksCREATE FREE ACCOUNT Arm makes the CPU architecture for chips found in nearly all smartphones. An Arm chip is shown here in San Jose, California, on October 12, 2023. Sydney Boyo Arm reported fiscal third-quarter earnings that beat estimates and gave a strong profit forecast for the current quarter.
Share: On Thursday, the GBP/USD pair declined towards the 1.2615 level showing slight losses with upbeat US labor market figures benefiting the Greenback with Jobless claims from the week ending on February 3 coming in lower than expected. However, the Bank of England (BoE) holds a somewhat similar stance as the Federal Reserve (Fed) in delaying rate cuts
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Gold prices ticked up on Thursday buoyed by a softer dollar and lower Treasury yields, ahead of a weekly jobless claims report that could provide fresh clues on when the U.S. Federal Reserve would start lowering interest rates. FUNDAMENTALS * Spot gold rose 0.2% to $2,037.80 per ounce, as of 0218 GMT. * U.S. gold
Clerc says that Maersk has suffered “serious attacks” in the Red Sea and that there is no clarity over the costs accumulated from said disruptions. Adding that he expects a continued shipping diversion from the Red Sea “for a while”. As for Q4 earnings, the firm reported a miss on forecasts in terms of profit
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