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
Month: March 2024
Markets: Gold up $18 to $2177 US 10-year yields down 1.3 bps to 4.08% WTI crude oil down $1.07 to $77.86 S&P 500 down 33 points, or 0.6%, to 5123 JPY leads, CAD lags I’m always leery of a pre-NFP front run and today is an example of why. The US dollar was soft and
Spot gold extended its stunning rally to the eighth day on Friday as the US nonfarm payroll report of February was weaker than expected. The metal rose to a fresh record high as it hit $2195 before closing with a gain of 0.89% at $2179. It posted a whooping weekly gain of 4.60%. The US
Dollar and Yen had contrasting fortune last week, responding to divergent central bank expectations. Dollar found itself as the week’s worst performer, a reflection of solidified expectations for Fed’s first rate cut in June, reinforced by Fed Chair Jerome Powell’s semiannual testimony. The cooling job US market is seen as unlikely to stand in the
More than 75 employers were taking resumes and talking to prospective new hires at a career fair in Lake Forest, CA on Wednesday, February 21, 2024. Paul Bersebach | Medianews Group | Orange County Register | Getty Images Layoff announcements in February hit their highest level for the month since the global financial crisis, according
Façade and window displays of the Boss store by Hugo Boss, in the Salamanca district, on 25 February, 2023 in Madrid, Spain. Europa Press News | Getty Images Shares of Hugo Boss plunged 18%, before paring losses slightly Thursday, after warning that it may fail to meet its 2025 sales target amid weakening consumer demand.
Share: Silver inches closer to retesting its year-to-date high of $24.63, after marking a 0.86% increase. Technical dynamics suggest potential for further gains if silver surpasses the $24.50 resistance. Downside risks loom if silver falls below $24.31, targeting supports at $24.00 and the March 6 low of $23.57. Silver’s price rallies, but it remains below
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
Consumer price inflation data from China for February 2024 shows an exit from deflation CPI +0.7% y/y expected +0.3%, prior -0.8% (that -0.8% in January was the sharpest the steepest fall in more than 14 years) for the m/m, comes in at +1.0% (prior +0.3%) first rise in the CPI since August of 2023 PPI
Gold prices surged to a fresh record high on Friday as data showing a rise in the U.S. unemployment rate boosted expectations that the Federal Reserve could begin cutting interest rates soon. Spot gold rose 0.7% to $2,173.49 per ounce by 10:42 a.m. ET (1542 GMT), while U.S. gold futures added 0.7% to $2,180.50. Bullion
Dollar is continuing its streak as the weakest performer for the week, amid a global surge in risk appetite. Major stock indices around the world, including S&P 500, NASDAQ, DAX, and CAC, have notched new record highs overnight. This wave of optimism has seamlessly transitioned into Asian session today. Investors have been absorbing the latest
A sign posted outside a restaurant looking to hire workers in Miami on May 5, 2023. Joe Raedle | Getty Images News | Getty Images Unemployment among Black women fell in February as the number of those looking for work increased, data released Friday by the U.S. government showed. The U.S. unemployment rate edged higher
Shares of Teleperformance plunged 20% on Thursday, after the French call center and office services group missed its full-year revenue target and flagged a “volatile economic environment.” Investors have been spooked by the potential impact of artificial intelligence on its business model, as companies become more able to tap into the technology directly for their
Share: Mexican Peso appreciates for the seventh consecutive day, buoyed by soft US Dollar following mixed US jobs report. Banxico’s upcoming rate decision eyed closely after subdued Mexican inflation figures. US Nonfarm Payrolls exceed expectations, but revisions and higher Unemployment Rate fuel speculation of June Fed rate cut. The Mexican Peso appreciated for the seventh
USD GBP The BoE left interest rates unchanged as expected at the last meeting removing the tightening bias but reaffirming that they will keep rates high for sufficiently long to return to the 2% target. The employment report beat expectations across the board with a positive revision to the December’s negative payroll figure. The UK
The US dollar is at the lows of the week following the February non-farm payrolls report. The headline number was strong at +275K compared to +200K but underneath were some soft details. For starters, the prior two reports were revised collectively lower by 167,000 jobs, leaving total jobs lower than anticipated. The household survey also
A near Rs 3,000 per 10 grams surge in Gold over the last six to seven sessions and back-to-back lifetime highs has brought its mojo back after a lackluster February. Moreover, its one-year returns stand at an impressive 17.63%. But have gold mutual funds that track yellow metal prices performed with equal zeal? Here is
Dollar’s decline accelerated in the early US session, triggered by disappointing non-farm payroll data. Despite a seemingly robust headline job growth figure for February, the substantial downward revision of January’s numbers cast a shadow, marking the overall report as a miss. Moreover, the unemployment rate’s unexpected jump and the below-forecast earnings growth further dented investor
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