UK firms are planning to raise prices to cover higher tax payouts as confidence among businesses tumbled to its lowest level since the market-rocking “mini-budget” crisis of fall 2022, according to a survey by the British Chambers of Commerce. The trade group said sentiment had “declined significantly” in its largest poll since the Labour government’s debut budget last October, which
Month: January 2025
Fundamental Overview Despite the spike lower triggered by the last FOMC decision, gold didn’t extend the fall and remained confined in the range between the 2600 support and the 2721 resistance. The FOMC decision was perceived as more hawkish than expected but apart from some slight tweaks, the Fed just met the market’s pricing. The
Final Services PMI 51.1 vs 51.4 expected and 50.8 prior. Final Composite PMI 50.4 vs 50.5 expected and 50.5 prior. Key Findings: Employment declines for the third month in a row. Marginal increase in business activity. Input cost inflation accelerates to an eight-month high. Comment: Tim Moore, Economics Director at S&P Global Market Intelligence, said:
Oil prices dipped on Monday amid a strong U.S. dollar ahead of key economic data by the U.S. Federal Reserve and U.S. payrolls later in the week. Brent crude futures slid 28 cents, or 0.4%, to $76.23 a barrel by 0800 GMT after settling on Friday at its highest since Oct. 14. U.S. West Texas
Gold price holds steady around $2,640 in Monday’s early Asian session. US Manufacturing PMI improved to 49.3 in December vs. 48.4 prior, stronger than expected. Sustained geopolitical risks and a wave of purchases by central banks could lift the Gold price. The Gold price (XAU/USD) struggles to gain ground near $2,640 during the early Asian trading hours
The USDCHF is lower on the day and testing a swing area going back to April and June 2024 between 0.9086 and 0.90978. If the sellers are to keep pushing, getting and staying below the high of that swing area (up to 0.9100 level) is required. On the downside, the rising 100-hour moving average comes
The Caixin/S&P Global China General Services PMI is scheduled for release today, January 6, 2025, at 01:45 UTC, which is January 5 2045 US Eastern time: Over the past six months, the Caixin/S&P Global China General Services PMI has indicated consistent expansion in the services sector, with readings above the 50-mark. However, there have been
Gold prices edged higher on Friday, building on a 1% gain from the previous session, boosted by safe-haven demand, while focus on the Fed’s rate outlook and U.S. President-elect Trump’s proposed trade tariffs. FUNDAMENTALS * Spot gold rose 0.1% to $2,660.25 per ounce, as of 0018 GMT, hovering around over two-week low hit on Thursday.
Gold bids cooled back below $2,650, crimping the week’s gains at the tail end. Market risk appetite recovered on Friday after US ISM data improved. Fedspeak further cooled investors concerns, Fed’s Barkin soothes market concerns. XAU/USD dipped on Friday, with Gold prices falling roughly two-thirds of a percent and dipping back below $2,650 per ounce
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
UPCOMING EVENTS: Monday: China Caixin Services PMI, German CPI, Canada Services PMI. Tuesday: Switzerland CPI, French CPI, Eurozone CPI, US ISM Services PMI, US Job Openings. Wednesday: Australia Monthly CPI, Eurozone PPI, US ADP, FOMC Minutes. Thursday: Japan Average Cash Earnings, Eurozone Retail Sales, US NFIB Small Business Optimism Index, US Jobless Claims. Friday: Switzerland
Spot gold traded between $2595 (December 30) and $2665 (January 3) in the week ended January 3. The metal gained upward traction on new year fund inflows and concerns about the Chinese economy as China’s manufacturing PMI disappointed. It peaked at $2665 on better-than-expected US ISM manufacturing PMI. The metal closed with a loss of
GBP/USD found a thin recovery on Friday, gaining roughly four-tenths of one percent and ending the first trading week of 2025 back above the 1.2400 handle. UK macroeconomic and consumer credit data broadly missed the mark early on Friday, but the low-tier figures barely registered on the needle. On the US side, US business activity
Dollar Index started the new year with a pronounced surge. Sterling, Euro, and Swiss Franc bore the brunt of this strength, reflecting the sluggish economic outlook in Europe and ongoing concerns about the impact of new US tariffs. Despite these gains, Dollar’s performance against other currencies, including Yen and commodity-linked peers, was more muted. Consolidations
The Nasdaq indices run to the upside is continuing with the price currently up 279 points or 1.45% at 19558.42. The high price reached 19560.11. Looking at the hourly chart above, the price is also approaching its 200-hour moving average at 19571.58. The price fell below that moving average on December 30 and reached a
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 retreated from a three-week high on Friday, pressured by a robust dollar, while markets braced for potential economic and trade shifts under U.S. President-elect Donald Trump. Spot gold eased 0.6% to $2,641.52 an ounce at 01:41 p.m. ET (1841 GMT), after hitting its highest level since Dec. 13 earlier in the session. Bullion
Another earning season is over. The winners? Most of our stocks. Twenty-three out of 33 portfolio names delivered third-quarter reports were deemed good or great by the Investing Club, thanks partly to a still-strong consumer and largely to the massive build out of all things AI. Case in point: In the S & P 500,