EUR/GBP trades in negative territory near 0.8485 in Friday’s early European session. The preliminary UK August PMI data was better than expected, pushing back the expectation of a BoE rate cut. Investors expect two more rate cuts from the European Central Bank (ECB) this year. The EUR/GBP cross extends its decline near 0.8485 during the early European
Month: August 2024
Yen is showing broad-based strength in today’s Asian session, particularly against the generally weakening Dollar. This move has also put pressure on the Nikkei, which turned lower as Yen gained momentum. While there’s no clear catalyst for these movements, it appears that Yen’s recent pullback may have run its course. Meanwhile, Dollar continues to extend
Fundamental Overview The USD continues to remain under pressure amid positive risk sentiment and the imminent rate cuts from the Fed which should help global growth. These are generally bearish drivers for the greenback. In fact, the appreciation of the EUR has been mostly driven by the US Dollar side of the equation. The ECB
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 inched higher on Friday, but were set for a weekly loss as investors looked forward to U.S. Federal Reserve Chair Jerome Powell‘s speech at Jackson Hole, Wyoming, for more cues on the scale of a likely September rate cut. FUNDAMENTALS * Spot gold rose 0.2% to $2,488.59 per ounce by 0036 GMT. Bullion,
In this article GM BILL WDAY INTU ROST UBER CAVA Follow your favorite stocksCREATE FREE ACCOUNT Customers arrive at a Cava restaurant in New York City, U.S., June 22, 2023. Brendan Mcdermid | Reuters Check out the companies making headlines after the bell: Cava Group — The fast-casual restaurant brand saw shares climb nearly 6%
USD sellers take a breather after four sessions of losses. Markets digest weekly Jobless Claims and August PMIs. Rate cut expectations remain high ahead of Powell’s words on Friday. The US Dollar (USD), measured by the US Dollar Index (DXY), indicated an incline above the 101.00 level during Thursday’s trading session. This occurs in a
Sterling surged broadly today, driven by stronger-than-expected PMI data indicating that the UK economy is on track for reasonably solid growth in the third quarter. This positive economic outlook comes at a time when inflationary pressures are easing, which would typically open the door for further rate cuts by BoE. However, the robust performance of
Fundamental Overview The USD continues to remain under pressure amid positive risk sentiment and the imminent rate cuts from the Fed which should help global growth. These are generally bearish drivers for the greenback. In fact, the appreciation of the GBP has been mostly driven by the US Dollar side of the equation. The market
Goldman Sachs analyzes effective FX hedges in scenarios where both US equities and yields decline, highlighting the most reliable currency positions. Safe-havens JPY and CHF, along with shorts in MXN and AUD, are identified as effective hedges. However, the costs associated with certain strategies prompt a preference for shorts in AUD or GBP due to
Gold traded flat at Rs 74,150 per 10 grams for the second day in a row in the national capital on Thursday, according to the All India Sarafa Association. However, silver prices firmed up Rs 200 to Rs 87,200 per kg against Rs 87,000 per kg in the previous close on Wednesday. Gold of 99.5
The U.S. economy created 818,000 fewer jobs than originally reported in the 12-month period through March 2024, the Labor Department reported Wednesday. As part of its preliminary annual benchmark revisions to the nonfarm payroll numbers, the Bureau of Labor Statistics said the actual job growth was nearly 30% less than the initially reported 2.9 million
In this article PTON Follow your favorite stocksCREATE FREE ACCOUNT Peloton said Thursday it is digging itself out of the red and eked out a slight sales increase for the first time in nine quarters as it slashed its overall losses. The beleaguered connected fitness company, which is currently being run by two board members
Key points Target stock soared 16% on Wednesday amid impressive Q2 financial results. The firm also raised its guidance for the remainder of FY24. We examine how investors should interpret these developments. Target (NYSE: TGT) stock jolted 16% higher on Wednesday morning on the heels of second-quarter 2024 earnings beat and guidance raise. The big-box
Dollar extended its broad decline overnight following release of FOMC minutes, which confirmed that a vast majority of Fed members see a rate cut in September as appropriate. However, the market reaction was relatively muted, as this outcome has already been largely priced in by traders. The real uncertainty centers on the size of the
Fundamental Overview The USD continues to remain under pressure amid positive risk sentiment and the imminent rate cuts from the Fed which should help global growth. These are generally bearish drivers for the greenback. In fact, the appreciation of the AUD has been mostly driven by the US Dollar side of the equation, although it
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 hovered near all-time highs on Thursday as minutes from the U.S. Federal Reserve’s latest meeting cemented expectations of a September interest rate cut, with traders now awaiting Chair Jerome Powell‘s speech for insights on rate outlook. FUNDAMENTALS * Spot gold was flat at $2,511.80 per ounce, as of 0030 GMT, trading below a record
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