Gold rose over 1% on Thursday buoyed by a retreat in the and US bond yields, while grim US jobless data clouded the outlook for an economic recovery, adding to the metal’s safe-haven appeal. Spot gold rose 1.2% to $1,727.86 per ounce by 1:39 p.m EDT (1739 GMT). Most markets will be closed for Good
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Yen remains generally weak in early US session today. But buying focuses against the Japanese currency has somewhat turned from Dollar to Sterling and Canadian. Both the Pound and Loonie were lifted slightly be better than expected GDP data. On the other hand, Dollar’s rally is losing some momentum. Traders are turning their attention to
Job growth boomed in March at the fastest pace since last summer, as stronger economic growth and an aggressive vaccination effort contributed to a surge in hospitality and construction jobs, the Labor Department reported Friday. Nonfarm payrolls increased by 916,000 for the month while the unemployment rate fell to 6%. Economists surveyed by Dow Jones
“In the first two months of our administration, we have seen more jobs created than any in history,” US President Joe Biden said on Friday, as reported by Reuters. Additional takeaways “There is still a long way to go.” “New economic strategy deserves the credit for growth.” “By April 7, more than 130 million households
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With more than 35 million customers, $21 billion in revenues and $3.8 trillion in discretionary managed assets, Fidelity Investments is one of the largest investment management companies in the world. It may need all its heft to break the losing streak of crypto-fund sponsors that have gone up against the United States Securities and Exchange
Decent US dollar move, but certainly nothing sensational The US dollar caught a quick bid after a roundly-stronger March non-farm payrolls report. The US added 916K jobs in the month, besting the +660K consensus estimate. USD/JPY jumped to a high of 110.68 from 110.55 on the data and there were similar USD kneejerk moves higher
All quiet in Europe amid the Easter holiday It is Good Friday today and most European markets are observing a holiday, with FX being the only notable market open ahead of the weekend. The dollar is keeping steadier with little change observed across the board after a pullback yesterday, with Treasuries seeing a bid before
When India’s government last month asked refiners to speed up diversification and reduce dependence on the Middle East – days after OPEC+ said it would maintain production cuts – it sent a message about its clout and foreshadowed changes to the world’s energy maps. It was a move that had been in the works for
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks dropped -1.35 mmb to 1290.33 mmb in the week ended March 26. Crude oil inventory slipped -0.88 mmb (consensus: -0.1 mmb) to 501.84 mmb. Stockpile decreased in 3 out of 5 PADDs. Cushing stock added
An operator stacks heavy gauge steel brace used for industrial workbench leg at Tennsco’s factory in Dickson, Tennessee, U.S. February 17, 2021. Tennsco | via Reuters March brought the strongest manufacturing growth in more than 37 years, and with it increasing indications about inflation pressures in the months ahead. The Institute for Supply Management’s monthly
DXY extends the corrective downside to 92.85/80 band. Immediate contention is located at the 200-day SMA at 92.45. The dollar extends the rejection from recent yearly highs near 93.50 and re-visits the 92.80 zone on Friday. If the selling impulse gains further traction, then DXY could re-visit the key 200-day SMA in the mid-92.00s. A
Its a holiday across much of Asia, including for me! So, I won’t be around too much but will pop in from time to time. 2350 GMT will bring data from Japan, March monetary base. Via Investopedia: The monetary base is the total amount of a currency that is either in general circulation in the
6 straight day of gains in jeopardy The USDJPY has moved higher for 6 consecutive days. On the 3rd day higher, the price moved outside a narrow trading range of 103 pips that was in effect for 14 days. Since then, the price has moved 160 pips higher (yesterday was the high). The price broke
NEW YORK: Oil prices rose about 1% on Thursday after preliminary news that OPEC+ reached a deal to gradually ease production cuts from May. Brent crude rose 42 cents, or 0.7%, to $63.16 a barrel by 11:45 a.m. EST (1645 GMT). US oil was up 59 cents, or 1%, at $59.75 a barrel. OPEC+, which
Dollar retreats mildly in early US session after weaker than expected job data. Also, treasury yield is retreating mildly while stocks point to higher open, in particular NASDAQ. Pre-holiday trading in the currency markets is generally mixed. Aussie tumbled earlier today but has recovered a large part of the losses quickly. Sterling is trying hard