A report from Statistics Canada released on Tuesday revealed that annual inflation in Canada, as measured by the Consumer Price Index (CPI), increased by 2.0% in August. This figure came in short of market expectations and represents a decrease from July’s 2.5% rise. On a monthly basis, the core CPI, which excludes the often fluctuating prices
Month: September 2024
Investor sentiment is currently mixed, reflecting the heightened uncertainty surrounding this week’s crucial Fed meeting. While DOW surged to a fresh record high overnight, and S&P 500 edged closer to its historical peak too, the tech-heavy NASDAQ struggled, ending the session in negative territory. The mixed performance extended to Asia, where Nikkei fell sharply in
Fundamental Overview Last Thursday, WSJ’s Timiraos published an article which seemed suggesting that a 50 bps cut was still being discussed. The market responded by raising 50 bps cut probabilities to around 40% from 13% before the news. Nick Timiraos is considered a Fed “insider”, so the market is attentive to all of his pieces
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
Oil prices extended gains on Tuesday as the market eyed U.S. output concerns in the aftermath of Hurricane Francine and expectations of lower U.S. crude stockpiles. Brent crude futures for November were up 36 cents, or 0.5%, at $73.11 a barrel, as of 0635 GMT. U.S. crude futures for October climbed 53 cents, or 0.8%,
USD/JPY rebounds to near 140.80 in Tuesday’s early Asian session. The US Fed is widely expected to cut interest rates at the conclusion of its meeting Wednesday. Analysts see no change in rates at the BOJ meeting on Friday. The USD/JPY pair recovers some lost ground near 140.80, snapping the five-day losing streak during the early Asian
Traders continue to ramp up bets on a 50bps rate cut by Fed this Wednesday, with market odds now sitting at 65%. This increasing expectation is driving DOW futures higher, positioning the index for a potential new record high in the upcoming regular trading session. However, S&P 500 and NASDAQ are showing less momentum, struggling
The price of WTI crude oil is settling at $70.09. The low for the day reached $68.68. The high for the day extended up to $70.66. Technically, the price low today stalled right near its 200-hour moving average. That moving average is currently at $68.62. The subsequent move to the upside also moved back above
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 inch higher on Monday, supported by a weaker dollar and on the prospect of a more aggressive rate reduction by the U.S. Federal Reserve at its upcoming policy meeting. FUNDAMENTALS * Spot gold was up 0.2% at $2,580.81 per ounce, as of 0020 GMT. Bullion rose to a record high of $2,585.99 on
The US Dollar dips lower on Monday in both the European and Asian trading session. The Fed moves to the forefront with a policy rate decision this week. The US Dollar Index could sink lower as it tests the lower bound of August’s bandwidth. The US Dollar (USD) trades substantially softer on Monday ahead of
Market activity in Asia has been unusually subdued today, with trading volumes even quieter than expected for the first session of the week. The holiday closures in Japan and China are partly responsible for the reduced momentum, but a larger factor looms over the markets: the upcoming FOMC meeting, which is one of the most
Fundamental Overview Late Thursday, around 1:00 PM ET, WSJ’s Timiraos published an article which seemed suggesting that a 50 bps cut was still being discussed. The market responded by raising 50 bps cut probabilities to around 40% from 13% before the news. Nick Timiraos is considered a Fed “insider”, so the market is attentive to
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 October futures contracts at MCX opened on Monday at Rs 73,645 per 10 gram, which is up by 0.18% or Rs 130 while silver December futures contracts were trading nearly 1% highest at Rs 90,008/kg, up Rs 828. In the last one week, the prices of gold have gained Rs 2,200/10 gm while silver
Gold price trades in positive territory near $2,580 in Monday’s early Asian session. Firmer Fed rate cut expectations and persistent geopolitical risks continue to underpin Gold price. Slow momentum in Chinese economic activity might weigh on the precious metal. Gold price (XAU/USD) gains momentum around $2,580 during the early Asian session on Monday. The precious
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
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