Australian Dollar is having a modest bounce today after stronger-than-anticipated inflation figures. The data also revealed re-acceleration of inflation for the second consecutive month, with core inflation measures also rising. While most economists still view a further rate hike by RBA as unlikely, today’s surprising data suggests that such a move can no longer be
Month: May 2024
Gold gains more than 0.30% despite pressure from high US Treasury yields. Hawkish remarks from Fed officials, including Governor Michelle Bowman, temper Gold’s rise. XAU/USD traders are eyeing the release of US core PCE inflation data. Gold price was modestly up late in the North American session, registering gains of around 0.15% amid high US
As the trading day works to the close, the EURUSD has stalled at highs near a key swing area, and moved down toward the 200-hour MA at 1.08519 and then the 100-hour MA at 1.08347. Those two moving averages will play a key technical role in the new trading day. Move below would increase the
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
Silver futures on Tuesday hit a fresh lifetime high of Rs 96,220 per kg on the MCX in the evening trade, gaining by Rs 1,612 per kg intraday over Monday’s closing price of Rs 94,608, tracking strong buying action in the international market. While the white metal saw some gains after scaling a new peak,
Swiss Franc is having a significant surge today, likely due to flight to safe-haven assets amid rising tensions in the Middle East. Reports have emerged that Israeli military tanks were seen in central Rafah for the first time since the Israel Defense Forces entered the city earlier this month. This movement follows a recent missile
Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Tuesday’s key moments. The Nasdaq on Tuesday shot up past 17,000 for the first time ever — driven by further gains in shares of Club name Nvidia . In response, Jim Cramer said,
Natural Gas prices slide over 2% amid reports that Israeli opposition parties discuss plans to oust Prime Minister Benjamin Netanyahu. Ireland, Norway and Spain have officially recognized the Palestinian state as strikes over Rafah continue. The US Dollar Index retreats further, testing the last lines of defense. Natural Gas price (XNG/USD) is testing this week’s low
Fundamental Overview The USD got a boost last week from the strong US PMIs which lifted Treasury yields and put in question the rate cut in September. Once the market digested the report though and saw that there was more good news on the growth side than bad news on inflation, the USD strength faded
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
Gold prices on Tuesday fell by Rs 2,433 from a high of Rs 74,442 per 10 grams on May 20 to Rs 72,009 per 10 grams on May 27. MCX gold June futures today opened flat, down by Rs 98 at Rs 71,911 per 10 grams while July silver contracts opened at Rs 94,640, up
Australian Dollar strengthened broadly in Asian session today, shrugging off lackluster retail sales data. Instead, Aussie is responding positively to Shanghai’s announcement of significant policy measures aimed at boosting the housing market. Yesterday, China’s commercial and financial hub declared it would relax home purchase restrictions and provide subsidies for new flat buyers. This move is
GBP/USD trades with mild positive bias near 1.2770 in Tuesday’s early Asian session. Traders lower their bets on interest rate cuts by the Fed amid strong US data and the Fed’s hawkish comments. The BoE might stay on hold on the rate, boosting the GBP. The GBP/USD pair consolidates its upside around 1.2770 after reaching two-month highs
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
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
Gold prices jumped 1% on Monday after a two-week low hit in the previous session as investors assessed diminishing bets of U.S. interest rate cuts ahead of a key inflation report due later in the week. Spot gold was up about 1% to $2,355.60 per ounce as of 10:05 a.m. ET (1405 GMT), having touched
Gold is pulling back after last week’s steep sell-off. Traders are keen to wait for US inflation data later this week to reassess fundamentals. Gold is probably forming a consolidation or continuation pattern within a downtrend that is likely to go lower. Gold (XAU/USD) is trading in the $2,340s, making a modest pullback from oversold
Fundamental Overview The USD got a boost last week from the strong US PMIs which lifted Treasury yields and put in question the rate cut in September. Once the market digested the report and saw that there was more good news on the growth side than bad news on inflation, the USD strength faded fast.
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