Off its lifetime high of $2,202 per troy ounce on the Comex, Gold traded in the red in the early trade on Monday amid mild profit booking. The yellow metal’s recent surge is on the hopes of a June interest rate cut which has triggered a fall in the world’s safest hedge – the US
Month: March 2024
Yen continues to stand out as the strongest currency in today’s relatively subdued markets, supported by anticipations of an imminent rate hike by BoJ next week. Swiss Franc and US Dollar are trailing behind in strength, indicating a preference for safer assets. Conversely, Australian Dollar, New Zealand Dollar, and Sterling find themselves at the lower
Proclaiming that “I’m a big believer in tariffs,” former President Donald Trump on Monday indicated he’s likely to reinstitute duties on foreign goods should he win election to a second term. In a CNBC interview, Trump cited both economic and political benefits from targeting foreign goods entering the U.S. “I fully believe in them economically
Share: WTI Oil sideways in a broader range trade with Aramco scrubbing production boost. Oil traders are still positioned for more upside potential with bullish option market positioning. The US Dollar Index steady below 103.00, with data-driven week ahead while Fed enters blackout period. Oil prices falling in the red with a Risk Off tone in
The NZDUSD – like the AUDUSD – declined earlier in the week before finding a base and snapping back to the upside. In the process, the pair moved above some key technical levels including both the 200 and 100 day moving averages and the 200 and 100 bar moving averages on the 4-hour chart. Later
China’s review of tariffs it placed on Australian wine is progressing well, Chinese Ambassador Xiao Qian told a conference in Sydney. the background to this is that China slapped Australian products with tariffs in retailation for US moves against China back during the Trump administration. Australia is a key US ally and a very small
Gold prices rose on Monday, and hovered near a record peak hit in the previous session, as remarks from Federal Reserve Chair Jerome Powell and U.S. economic data last week cemented hopes for a rate cut in June. FUNDAMENTALS * Spot gold edged 0.2% higher to $2,181.27 per ounce, as of 0134 GMT, not too
Share: GBP/USD consolidates amid a muted US Dollar on Monday. US Nonfarm Payrolls increased by 275K in February, against the expected 200K. Traders await employment data to gain fresh impetus on the United Kingdom’s labor market. GBP/USD hovers around 1.2850 during the Asian session on Monday, maintaining a positive sentiment to potentially extend its winning
US stock indices are giving up their gains as profit-taking pushes shares lower. The NASDAQ index is now in a negative territory. Even Nvidia is now down -3.83%. The NASDAQ index was up 176.33 points at session highs. It is currently down -78 points or -0.48% at 16198. The S&P indexes is in negative territory
UPCOMING EVENTS: Tuesday: Japan PPI, UK Labour Market report, US NFIB Small Business Optimism Index, US CPI. Wednesday: UK GDP, UK Industrial Production, Eurozone Industrial Production. Thursday: US PPI, US Retail Sales, US Jobless Claims, New Zealand Manufacturing PMI. Friday: US Industrial Production, US University of Michigan Consumer Sentiment Survey, PBoC MLF. Tuesday The UK
Gold prices on Friday were on track for their biggest weekly jump in five months, hovering near a record peak, as Federal Reserve Chair Jerome Powell‘s comments reinforced investor hopes for a first U.S. rate cut in June. FUNDAMENTALS * Spot gold was steady at $2,159.49 per ounce, as of 0120 GMT, hovering around a
Logo of Aramco, officially the Saudi Arabian Oil Group, Saudi petroleum and natural gas company, seen on the second day of the 24th World Petroleum Congress at the Big 4 Building at Stampede Park, on September 18, 2023, in Calgary, Canada. Artur Widak | Nurphoto | Getty Images Saudi Arabia’s state oil giant Aramco reported
In this article Follow your favorite stocksCREATE FREE ACCOUNT Amer Sports, (AS.N) parent company of sporting goods brands, banner hangs on the front of the New York Stock Exchange (NYSE) during the company’s IPO in New York City, U.S., February 1, 2024. Brendan McDermid | Reuters Shares of Amer Sports, the maker of Wilson tennis
It is Friday and although there is time before the close for the current trading week, it’s time to look ahead to next week from a technical perspective. This week the USDCHF pair fell as dollar selling was more dominant. Technically, the run above the 200-day moving average last week and earlier this week failed.
A year ago today marks are dark day for one banking equity analyst at JPMorgan. The topic was Silicon Valley Bank, the once high-flying bank that catered to tech startups. It often lent founders huge sums at rates as low as zero per cent so long as they parent company continued to do business with
gold. It not only glitters when used as an ornament but also extends its charm to strengthen the portfolio of an investor. Since this Valentine’s Day, the bullion has risen by almost 4.9%, breaking the previous highs of US$ 2065.6 per ounce, and is gearing up for a further up move. Despite such a move,
In this article JWN Follow your favorite stocksCREATE FREE ACCOUNT Shoppers exit the Nordstrom at the Westfield Topanga mall in Los Angeles on Aug. 14, 2023. Christina House | Los Angeles Times | Getty Images Nordstrom’s holiday-quarter sales topped Wall Street’s expectations on Tuesday, but the retailer gave a muted outlook for the year ahead,
Share: US NFP revisions worry the market on Friday. Unemployment Rate rises to 3.9%, above 3.7% consensus. China raises $27 billion investment vehicle to produce advanced chips. NASDAQ drops a full percentage point, while Nvidia loses 5%. Nvidia (NVDA) stock fell more than 5% on Friday after the US Nonfarm Payrolls (NFP) data for February distressed the market.
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