Gold dips from all-time high amid strong US jobs data and steady core inflation. Investors remain risk-averse ahead of November 5 US election, polls show a narrow race between Trump and Harris. Nonfarm Payrolls and Fed’s upcoming rate decision keep traders cautious. Gold price retreated from all-time high on Thursday as traders failed to capitalize
Month: October 2024
Euro strengthened broadly after Eurozone’s flash CPI revealed stronger-than-expected increase in headline inflation, while the decline in core inflation has come to a halt. This data, coupled with the better-than-anticipated GDP figures released yesterday, has provided substantial support to the hawks within ECB. There appears to be no immediate need for ECB to accelerate monetary
The price of USDCAD fell below its 100-hour moving average currently at 1.39028 (see earlier post). Last week, the price fell below that moving average line, but reversed back higher. The week before it fell below the 100-hour moving average but also failed on the break. When the market trends you can get those counter-trend
Consensus estimate +113K Estimate range +0K (ABN AMRO) to +200K (DBS Bank) September was +254K Private consensus +90K versus +223K prior Unemployment rate consensus estimate 4.1% versus 4.1% prior Prior unrounded unemployment rate 4.0510% Prior participation rate 62.7% Prior underemployment U6 7.7% Avg hourly earnings y/y exp +4.0% versus +4.0% prior Avg hourly earnings m/m
Written by , ETMarkets.com| Oct 31, 2024, 06:09:39 PM IST 1/4 Stock Ideas Indian benchmark equity indices fell on Thursday, logging their worst monthly performance since March 2020, as record monthly foreign outflows and lacklustre corporate earnings pummelled investor sentiment.They were dragged most by IT stocks with support from FMCG and bank stocks. While Nifty finished
Inflation increased slightly in September and moved closer to the Federal Reserve’s target, according to a Commerce Department report Thursday. The personal consumption expenditures price index showed a seasonally adjusted 0.2% increase for the month, with the 12-month inflation rate at 2.1%, both in line with Dow Jones estimates. The Fed uses the PCE reading
In this article MSFT Follow your favorite stocksCREATE FREE ACCOUNT Microsoft CEO Satya Nadella speaks at a company event on artificial intelligence technologies in Jakarta, Indonesia, on April 30, 2024. Dimas Ardian | Bloomberg | Getty Images Microsoft‘s better-than-expected earnings report wasn’t enough to prevent the stock’s steepest selloff in two years, as investors instead
The Mexican economy grew surprisingly strongly in the third quarter, according to the first estimate. Instead of 0.6%, according to the Bloomberg median, it grew by almost 1% quarter-on-quarter, the highest rate in a year, Commerzbank’s FX analyst Michael Pfister note. Risk of Trump becoming president weighs on peso “This was probably mainly due to
Yen recovers broadly today after BoJ left interest rates unchanged, and largely maintained the economic projections unchanged too. The direction of monetary policy remains clear as the next move is a hike if the outlook is realized. Yet, BoJ dropped no clue on the timing. Data from Japan were mixed, with stronger industrial production and
After testing the 10810 level and finding buyers near that level early in the US session, the price has snapped back to the upside and has entered into a topside resistance area between 1.0864 and 1.08725. That area is defined by the 100-bar moving average on a four hour chart, the 200 day moving average,
The losses so far today are largely led by tech, with Nasdaq futures down 0.7% currently. It comes despite Meta and Microsoft reporting earnings beat after the close, with Greg providing a comprehensive rundown of it all here. Is it a case of month-end timing? Or perhaps investors weren’t all too happy with the surging
Gold December futures contracts at MCX today opened at Rs 79,681 per 10 gram, which is down by 0.14% or Rs 113 while silver December futures contracts were trading at Rs 96,825/kg, down by 0.94% or Rs 915. In the month of October, precious metals have shown an impressive upward rally, with gold prices gaining
Passers-by walk in the pedestrian zone of the Bavarian capital. Peter Kneffel | Picture Alliance | Getty Images Germany’s inflation surged to 2.4% in October, back above the European Central Bank’s 2% target, even as the country narrowly avoided a technical recession in the third quarter. The preliminary print, announced by German statistics office Destatis,
Customers shop at a Samsung mobile store inside a shopping mall in New Delhi. Reuters | Anindito Mukherjee Samsung Electronics on Thursday reported third-quarter sales and operating profit slightly above its own expectations, but its chip business posted a sharply lower profit from the previous quarter. The semiconductor unit reported third-quarter operating profit of 3.86
EUR/USD edges higher to around 1.0855 in Thursday’s early Asian session. Private sector employment increased by 233,000 jobs in October. The Eurozone HICP and the US PCE inflation data will be in the spotlight on Thursday. The EUR/USD pair attracts some buyers to near 1.0855 during the early Asian session on Thursday. The weakening of
Dollar strengthened in the early session, buoyed by surprisingly strong ADP private sector job data that far outpaced expectations. This robust employment figure has bolstered optimism for Friday’s upcoming non-farm payrolls report, which many anticipate will confirm sustained strength in the US labor market. With job growth remaining solid, Fed may feel less pressure to
USDCAD Technical Analysis The USDCAD has experienced a volatile month, with one day remaining. Key milestones include: Monthly low: 1.3472 (October 2) Monthly high: 1.3938 (today) Trading range: 466 pips, second-largest since December 2022 Uptrend dominant throughout the month Technically: Price rarely dipped below 100-hour moving average Last breach: Thursday last week, with support at
Bank of America forecasts a 100k increase in October nonfarm payrolls, affected by Hurricane Milton and the Boeing strike, with average hourly earnings growth rising to 0.5% m/m. Despite potential data distortions, BofA expects the Fed to proceed with a 25bps cut at next week’s FOMC meeting. Key Points: Nonfarm payrolls projected to increase by
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