Federal Reserve Chair Jerome Powell said Monday that the central bank will not wait until inflation hits 2% to cut interest rates. Speaking at the Economic Club of Washington D.C., Powell referenced the idea that central bank policy works with “long and variable lags” to explain why the Fed wouldn’t wait for its target to
Month: July 2024
Pedestrians walk past a Burberry Group Plc store, left, in the Causeway Bay shopping district of Hong Kong. Xaume Olleros | Bloomberg | Getty Images Shares in Burberry plunged over 15% in early trading on Monday after a disappointing first-quarter performance led it to issue a profit warning, replace its CEO and axe its dividend.
Gold price gains above $2,400, driven by growing speculation for Fed rate cuts in September. Softer-than-expected US inflation for June indicated that price pressures are on course to return to 2%. Investors await Fed Powell’s speech and the US Retail Sales data for June. Gold price (XAU/USD) rebounds above $2,400 in Monday’s European session after a modest correction
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 traded flat on Monday as investors awaited the US Fed Chairman’s speech and the ECB policy meeting later this week. MCX Gold August futures shed 41 points or 0.06% to Rs 73,228 per 10 gms. Meanwhile, September silver futures fell 0.17% or 161 points to Rs 92,948 per kilogram. The yellow metal has risen
Asian markets began the week with a cautious tone, as weaker-than-expected GDP growth from China dampened investor sentiment, even though the selloff in stocks has been limited. Today’s set of data, coupled with recent weak PMI readings, points to broader deceleration in China’s recovery momentum, as both consumer and business sentiment are struggling. Markets are
In this article GS Follow your favorite stocksCREATE FREE ACCOUNT David Solomon, Goldman Sachs interview with David Faber, September 7, 2023. CNBC Goldman Sachs is scheduled to report second-quarter earnings before the opening bell Monday. Here’s what Wall Street expects: Earnings: $8.34 per share, according to LSEG Revenue: $12.46 billion, according to LSEG Trading Revenue:
AUD/USD weakens near 0.6770 in Monday’s early Asian session. US PPI climbed more than expected in June on a margin pickup at service providers. The RBA’s hawkish stance might support the Aussie in the near term. The AUD/USD pair trades on a weaker note around 0.6770, snapping the four-day winning streak during the early Asian
If there is someone on CNBC, that I like, it is Josh Brown from Ritholz Wealth Management. He does his homework. He is not opposed to using technicals (in fact he often relies on it). He accepts defeat. He lets his wins run. He is not perfect of course, but he makes a lot of
Japanese markets are closed for the public holiday in Japan today, its Marine Day. Marine Day, or “Umi no Hi,” is a national holiday in Japan celebrated on the third Monday of July. It honors the ocean’s importance to Japan as an island nation and recognizes maritime activities and the economic and cultural significance of
Including gold in retirement portfolios in India offers several advantages, such as diversification, inflation protection, improved portfolio performance, and liquidity. Gold’s historical status as a store of wealth and crisis commodity, along with its cultural significance and tax benefits, makes it an important component of a comprehensive retirement strategy. Incorporating gold into retirement portfolios in
Ericsson announced it is planning to cut jobs as part of its cost-cutting measures. Nurphoto | Nurphoto | Getty Images Ericsson shares leapt 8% to their highest level in nearly two years on Friday, after the Swedish telecom giant’s revenue declined less than expected in the second quarter. Net sales fell 7% year-on-year to 59.8
AUD/USD remains at highest level since January near 0.6800. Hot PPI data didn’t stop the pair in its upward trend. Monetary policy divergence between RBA and Fed stir the pair. The Australian Dollar (AUD) upheld its positive trajectory against the USD in Friday’s session, rising by 0.30% to 0.6780. The AUD resumed its gains with
The US stocks are trading near highs after some declines yesterday. The correction was one day – at least for the S&P and the Nasdaq. The Dow industrial Average rose yesterday as did the small-cap Russell 2000. Today, all the major indices are enjoying strong gains. For the S&P, it erased its -49.37 or -0.88%
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
The gems and jewellery sector is eagerly awaiting Union Budget 2024, to be presented by Finance Minister Nirmala Sitharaman. Industry players are hopeful for tax reductions on exports to bolster demand for Indian-made gold and diamond jewellery. Export Tax Relief The gems and jewellery sector is seeking a reduction in taxes on exports to boost
A home available for sale is shown on May 22, 2024 in Austin, Texas. Brandon Bell | Getty Images When Rachel Burress moved into her mother’s house around a decade ago, it seemed like a short-term stop on the path to homeownership. The 35-year-old hairdresser spent those years improving her credit score and saving for
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