The AUDUSD has seen steady sellers in trading today. The currency pairs now down -0.40%. And extending below what was a floor in the month of November between 0.6433 and 0.64419. That area is now close risk for sellers looking for more downside. Stay below is more bearish. The move to the downside was started
Month: December 2024
UPCOMING EVENTS: Monday: China CPI. Tuesday: RBA Policy Decision, US NFIB Small Business Optimism Index. Wednesday: Japan Tankan Index, Japan PPI, US CPI, BoC Policy Decision. Thursday: Australia Labour Market report, SNB Policy Decision, ECB Policy Decision, US PPI, US Jobless Claims, New Zealand Manufacturing PMI. Friday: BoJ Tankan Index, UK GDP. Monday The Chinese
Gold prices edged lower on Thursday as investors waited for US payroll data expected to provide more insights into the Federal Reserve’s monetary policy path. As of 10:01 am, February gold futures were trading at Rs 76,980 per 10 grams on the MCX, down by Rs 112 or 0.15% from the previous session’s closing price.
A pedestrian crosses a flooded street following heavy rainfall in Paris on October 17, 2024. Joel Saget | Afp | Getty Images French lawmakers will hold a no-confidence vote in the fragile minority government of Prime Minister Michel Barnier on Wednesday, as economists warn the political stalemate likely to ensue will come at a high
Amazon stock closes 2.94% higher at new all-time high. November NFP hits well above expectations on Friday. Amazon is still seeing positive vibes from its new AI chip. Amazon shares have risen in eight of last nine sessions. Amazon (AMZN) stock is up for the sixth consecutive session on Friday, a streak that began on
Fundamental Overview Nothing has changed in terms of the fundamentals this week as the market awaits the US NFP and the US CPI data. The US Dollar continues to consolidate around the highs as the market reached the peak in the repricing of interest rates expectations and it will need stronger reasons to price out
Data released Saturday by the People’s Bank of China revealed that it has resumed buying gold. It was the largest official buyer in the world in 2023 as it looked to be headed on a multi-year effort to diversify out of US dollars. That changed this year as officials seemingly became price sensitive as buying
Gold prices inched up on Friday after the November U.S. job growth report suggested the labor market continues to ease gradually, leaving room for the Federal Reserve to cut interest rates again. Spot gold gained 0.2% to $2,636.31 per ounce by 01:41 p.m. ET (1841 GMT). U.S. gold futures settled 0.4% higher at $2,659.60. U.S.
Getty Images The jobs report for November came in better than expected, and that growth came from several different areas of the U.S. economy, according to the data. Health care and social assistance led the way yet again last month, seeing 72,300 new positions added in that area, per the Bureau of Labor Statistics. This
NZD/JPY fell to 87.48 on Friday, extending its weekly losses. Indicators are dangerously close to oversold conditions, signaling a potential correction. Bearish momentum remains intact, with risks of further downside. The NZD/JPY pair extended its decline on Friday, falling to 87.48 as selling pressure intensified. This marks a continuation of the bearish trend that began
Fundamental Overview The Russell 2000 has been underperforming the other major indices recently and failed to extend into new highs. The conditions for a strong rally into new all-time highs remain in place though. In fact, Trump’s policies will be a positive driver for growth in 2025 and with the Fed remaining in an easing
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Spot gold closed with a gain of $1 at $2633 on Friday. The metal was down nearly 0.40% this week, its second straight weekly loss. It traded in the range of $2613 (December 6) to $2657 (December 4). Data roundup The US employers added 227K jobs, beating the forecast of 220K, as with October data
Jerome Powell, chairman of the US Federal Reserve, during the New York Times DealBook Summit at Jazz at Lincoln Center in New York, US, on Wednesday, Dec. 4, 2024. Yuki Iwamura | Bloomberg | Getty Images Friday’s jobs report virtually cements that the Federal Reserve will approve an interest rate cut when it meets later
The Canadian Dollar tumbled nearly nine-tenths of a percent on Friday. Canada added more jobs than expected, but the Unemployment Rate lurched higher. US NFP numbers also beat the street, but sticky wages keep inflation concerns elevated. The Canadian Dollar (CAD) tumbled into recent lows on Friday, getting pummeled back into the bottom end after
Dollar steadied after yesterday’s selloff, recovering slightly as markets braced for the non-farm payroll report. Traders appear increasingly confident about a December rate cut, shifting the focus of today’s employment data toward its implications for January’s FOMC meeting. While the report may still trigger some market volatility, many participants seem inclined to look past this
Fundamental Overview The S&P 500 managed to extend the rally into a new all-time high recently. The conditions for further upside in the index remain in place. In fact, Trump’s policies will be a positive driver for growth in 2025 and with the Fed remaining in an easing cycle, growth should remain positive and might
Market moves: WTI crude oil down $1.20 to $67.10 US 10-year yields down 2.9 bps to 4.15% Bitcoin up $2544 to $101,540 Gold up $1 to $2633 S&P 500 up 0.2% JPY leads, AUD lags The theme all week is that it’s been tough to tie market moves to economic news/data and today was no
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