The EURUSD moved lower in the US session and in the process moved down to test the 50% midpoint of the trading range since the December 2023 high. That level comes in at 1.08695. The current price is at 1.0888. The bounce off that support target is a key bounce and bullish signal. Going back
Month: July 2024
US retail sales were better than expectations with revisions to the prior month. Ex Autos the MoM gain was 0.4% vs 0.0% estimate. The ex auto and gas was even better at 0.8% (with prior month revision to 0.3% from 0.1% estimate. Other data in the US today showed NAHB housing index was steady but
London: -The price of gold soared Tuesday to a record peak, propelled by trader expectations of falling US interest rates in September as inflation cools. In late afternoon London deals, gold soared 1.7 percent to touch $2,463.80 per ounce, crushing its previous pinnacle of $2,450.07 reached in May. Ricardo Evangelista of ActivTrades saw gold benefiting
Dollar bounces higher in early US session, buoyed by stronger-than-expected retail sales data. This resilience in consumer spending comes despite the persistent high inflation and elevated interest rates. The robust retail sales figures lend support to Fed’s soft landing scenario, where the economy slows down without falling into a recession. However, there are concerns that
Seen through the branches of trees in Ruskin Park are the lit porches of terraced period homes and in the distance, the growing development at Nine Elms, on 14th May 2024, in London, England. Richard Baker | In Pictures | Getty Images LONDON — The International Monetary Fund on Tuesday lifted its 2024 growth outlook
In this article MS Follow your favorite stocksCREATE FREE ACCOUNT Ted Pick, CEO Morgan Stanley, speaking on CNBC’s Squawk Box at the World Economic Forum Annual Meeting in Davos, Switzerland on Jan. 18th, 2024. Adam Galici | CNBC Morgan Stanley said second-quarter profit and revenue topped analysts’ estimates on stronger-than-expected trading and investment banking results.
The Mexican Peso has lost ground in its major pairs after the assassination attempt on Donald Trump. Trump’s poll ratings improved after the incident and if he wins the election he is likely to bring in trade tariffs. USD/MXN is showing signs of reversing its recent decline from the June highs. The Mexican Peso (MXN)
Fundamental Overview The USD weakened across the board last week following another soft US CPI report and benign Jobless Claims figures. The market not only fully priced in a rate cut in September but also started to price in some chances of a back-to-back rate cut in November. Overall, we had a goldilocks data release
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 August futures along with silver September futures contracts opened flat on Tuesday as the former opened up by 0.18% or Rs 133 at Rs 73,604 per 10 gram while the latter opened up by 0.29% or Rs 273 at Rs 92,845 per kilogram. The yellow metal has gained Rs 1,600/10 gm in the last
Yen weakened broadly during Asian session today, giving back some of last week’s strong gains that were reportedly driven by Japan’s market intervention. Japan’s Chief Cabinet Secretary Yoshimasa Hayashi repeated in a press conference that it is crucial for currency rates to move “stably” and reflect economic fundamentals. He reiterated the government’s commitment to taking
[The stream is slated to start at 12:30 p.m. ET. Please refresh the page if you do not see a player above at that time.] Federal Reserve Chair Jerome Powell is set to address the Economic Club of Washington, D.C., on Monday as traders look for hints about when the central bank will cut interest
In this article DAL Follow your favorite stocksCREATE FREE ACCOUNT Nurphoto | Nurphoto | Getty Images Delta Air Lines on Thursday forecast record revenue for the third quarter thanks to booming summer travel demand, but its forecast fell short of analysts’ estimates as carriers discounted fares after expanding flights. In the current quarter, Delta expects
AUD/JPY slips towards 106.90, breaching the 20-day SMA support. A bearish sentiment is projected for the next few session, continuing the downtrend from last week. In Monday’s trading session, the AUD/JPY pair noted a further decline of 0.15% to fall to 106.90. This continues the observable trend from last week Thursday’s session which saw a
The price of crude oil futures is settling at $81.91. That is down $-0.30 or -0.36%. The high price reached $82.58. The low price was at $81.47. Technically looking at the daily chart the price remains below a topside trendline near $84.75. On the downside, the rising 100-day moving average is at $80.54 and remains
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 gained on Monday, hovering near a more than one-month high hit last week, aided by hopes for interest rate cuts from the Federal Reserve as traders await for more comments from Fed officials to gauge the timing of those cuts. Spot gold rose 0.4% at $2,421 per ounce, as of 1415 GMT. U.S.
Global financial markets lack clear direction today. Major European stock indexes are trading slightly lower, while US futures indicate a modestly higher open. Investors are unfazed by the assassination attempt on former US President Donald Trump, maintaining a calm stance. Focuses are turning to Fed Chair Jerome Powell’s upcoming speech, where the market hopes to
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