August’s seasonal strength in gold might be influenced by some specific events this month, including US election developments, the Jackson Hole Symposium and Nvidia’s earnings call, even as the current equity rout is playing out in favour of gold, according to World Gold Council (WGC). In its gold market commentary released on Thursday, WGC said,
Month: August 2024
Jeremy Siegel Scott Mlyn | CNBC Wharton School Professor Jeremy Siegel no longer thinks it’s vital for the Federal Reserve to implement an emergency interest rate reduction, but still wants policymakers to cut quickly and aggressively. Siegel caused a stir Monday when he told CNBC that Fed Chair Jerome Powell and his colleagues should institute
In this article ELF Follow your favorite stocksCREATE FREE ACCOUNT Courtesy: e.l.f Beauty E.l.f. Beauty‘s growth story is still going. The cosmetics retailer on Thursday blew past quarterly estimates again, posting a 50% gain in sales. The company’s sales soared to $324.5 million in its fiscal first quarter, leading it to raise its full-year guidance. That
EUR/USD falls sharply as the US Dollar recovers after lower US Initial Jobless Claims. Investors see the Fed cutting interest rates aggressively this year. The ECB is expected to reduce its key borrowing rates two times more by the year-end. EUR/USD slumps below 1.0900 in Thursday’s American session. The major currency pair weakens as the US Dollar (USD) recovers strongly on soft
Forex trading continues to be subdued today, with Dollar gaining slightly in the early US session after better-than-expected jobless claims data. This data is particularly crucial as market participants are closely monitoring employment figures following the triggering of the Sahm Rule, which signals potential rapid employment deterioration leading to a recession. However, so far, there
The initial jobless claims came in lower than expectations, and that has helped to push the US dollar higher. In the kickstart video above, I take a look at three of the major currency pairs from a technical perspective – the EURUSD, USDJPY and GBPUSD. What has been the impact from the data and what
Last weekend earlier this week, bad news was bad news. Today there was good news in the form of initial jobless claims ticking back to 233K from 250K last week. The expectations was for 240K. That has helped to push stocks higher as good news is good news. A snapshot of the market is showing:
Gold October futures contracts at MCX opened flat on Thursday at Rs 68,860 per 10 gram, which is up by 0.15% or Rs 105 while silver September futures contracts were trading at Rs 79,019/kg, up by 0.15% or Rs 119. In this week so far, the prices of gold have fallen by Rs 1,000/10 gm
In this article Follow your favorite stocksCREATE FREE ACCOUNT 15 November 2023, Bavaria, Munich: Flags with the word “Siemens” in front of the company’s headquarters. Siemens publishes figures for fiscal year 2022/23. Photo: Karl-Josef Hildenbrand/dpa (Photo by Karl-Josef Hildenbrand/picture alliance via Getty Images) Karl-Josef Hildenbrand | Picture Alliance | Getty Images German industrial technology giant
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The Indian Rupee loses traction in Thursday’s Asian session. The fear of wider Middle East conflicts, renewed US Dollar demand and higher crude oil prices undermine the INR. All eyes will be on the RBI’s MPC interest rate decision on Thursday, with no change in rate expected. The Indian Rupee (INR) weakens on the modest
New Zealand Dollar surged strongly today following much better than expected Q2 employment data.. Speculations of an early rate cut by RBNZ next week now seem exaggerated. Major banks still expect RBNZ to start easing monetary policy this year, with consensus pointing to the November meeting. However, there’s still a possibility that RBNZ could signal
The major US stock indices are giving back some of their gains. Although they are still higher on the day, there has been some damage done technically. Looking at the S&P index, it opened today and moved above its 100-day moving average at 5309.32. The high price for the day reached 5330.64 but has since
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Oil prices edged higher on Thursday for the third straight session after government data showed a steep draw in U.S. crude stockpiles, rebounding from multi-month lows touched this week. Brent crude futures rose 23 cents, or 0.3%, at $78.56 a barrel by 0017 GMT, while U.S. West Texas Intermediate crude gained 29 cents, or 0.4%,
Shipping giant Maersk, considered a barometer for global trade, is not seeing signs of a U.S. recession as freight demand remains robust, the company’s chief executive said Wednesday. “We’ve seen in the last couple of years, actually, [the shipping container] market remaining surprisingly resilient to all the fear of recessions that there has been,” Vincent
In this article WBD Follow your favorite stocksCREATE FREE ACCOUNT A sign outside of the Warner Brothers Discovery Techwood Turner Broadcasting campus is seen on June 26, 2024 in Atlanta, Georgia. Kevin Dietsch | Getty Images Warner Bros. Discovery‘s stock dropped Wednesday after it reported a $9.1 billion write-down on its TV networks and missed
The US Dollar recovers for a second day in a row this week. The BoJ dropped mixed messages on its monetary policy. The US Dollar index pops above 103.00 and rallies higher on Wednesday. The US Dollar (USD) recovers as all asset classes start to head back to more normal levels. Equities are behaving quite
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