Gold prices slipped on Friday, but were on track for a fourth straight weekly gain as expectations that the Federal Reserve was likely to cut U.S. interest rates in September lifted appeal for non-yielding bullion. FUNDAMENTALS * Spot gold was down 0.4% at $2,434.38 per ounce, as of 0047 GMT, after scaling an all-time high
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Risk aversion continues to support Dollar in relatively quiet trading today. Both Sterling and Canadian Dollar weakened mildly after worse-than-expected retail sales data. Euro shrugged off dovish comments from some ECB officials. Meanwhile, Yen softened slightly following lower-than-expected CPI core reading. However, overall movements in the currency markets remain limited as traders hold their bets,
Abbott Labs delivered a second-quarter earnings beat on Thursday, but the company’s ongoing litigation over its baby formula — plus softer guidance for the current quarter — is dragging down shares. We view the pullback as an opportunity. Revenue for the three months ended June 30 rose 4% year over year to $10.38 billion, slightly
The Pound Sterling further corrects against the US Dollar after the release of weaker-than-expected UK Retail Sales data for June. Doubts over the BoE to begin reducing interest rates in August remain afloat. The uncertainty over the US Presidential elections improves the safe-haven appeal of the US Dollar. The Pound Sterling (GBP) extends its correction against
Fundamental Overview The Russell 2000 has been on an incredible run ever since the last US CPI report as the index had its best 5 days streak in 24 years. The goldilocks data was the catalyst for a strong rotation from big cap stocks into the small cap stocks, and the momentum was probably exacerbated
At some point on Wednesday, it looked like the dollar was bound to break down further. But a strong reversal yesterday is setting up for a continued move today, with the greenback keeping steadier across the board thus far. Of note, GBP/USD is facing a strong rejection after a brief push above the 1.3000 mark
Gold August futures opened lower by 0.72%, or Rs 534, at Rs 73,621 per 10 grams on Friday, while silver September futures contracts opened down by nearly 1%, or Rs 90,953 per kilogram. The yellow metal has traded flat, gaining only Rs 340 per 10 grams in the last week, while silver has dipped by
Dollar rebounded broadly overnight following steep 500+ point selloff in DOW. Some analysts cited rotation away from big tech as the cause, but the decline was broad-based. Profit-taking could be a more likely factor after recent record runs, as traders and Fed policymakers await more data to determine the number of rate cuts needed this
Former US President Donald Trump during a campaign event at Trump National Doral Golf Club in Miami, Florida, US, on Tuesday, July 9, 2024. Eva Marie Uzcategui | Bloomberg | Getty Images With markets in recent weeks cranking up their bets that Donald Trump will win the presidential election, Goldman Sachs economists say that another
In this article NFLX Follow your favorite stocksCREATE FREE ACCOUNT A couple sits in front of a television with the Netflix logo on it. Picture Alliance | Picture Alliance | Getty Images Netflix’s second-quarter earnings report contained no bombshells, and that’s just fine for the company and its investors. In recent weeks, Paramount Global has
EUR/USD backlides to 1.0900 handle on Thursday as US Dollar flows recover lost ground. The ECB held rates steady on Thursday as policymakers keep watching for inflation. Fiber traders to turn toward next week’s pan-EU inflation figures. EUR/USD shed weight on Thursday, falling back into the 1.0900 key handle amid a broad-market recovery in Greenback
The GBPUSD moved higher yesterday, reaching its highest level since July 18, 2023, with a peak at 1.3043 before slowing. This move pushed the price above the July 28 high of 1.2995 and the psychological resistance at 1.3000. Today, however, the price has rotated lower, falling back below both the 1.3000 and 1.2995 levels, indicating
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 were roughly flat on Thursday as investors wrestled with mixed signals about crude demand, with concerns about an economic slowdown in the U.S. contending with rising expectations the Federal Reserve would soon cut interest rates. Brent futures were up 1 cent to $85.09 a barrel by 11:41 a.m. EDT (1541 GMT). U.S. West
Trading in the forex markets has been relatively subdued today. ECB’s decision to hold interest rates steady was widely expected, and President Christine Lagarde’s press conference did not introduce any significant new information. ECB’s accompanying statement highlighted that domestic price pressures remain high, services inflation is elevated, and headline inflation is likely to stay above
The International Monetary Fund warned Tuesday that upside risks to inflation have increased, calling into question the prospect of multiple Federal Reserve interest rate cuts this year. In its latest World Economic Outlook update, the IMF said “the momentum on global disinflation is slowing, signaling bumps along the path.” The rise in sequential inflation in
In this article NFLX Follow your favorite stocksCREATE FREE ACCOUNT The Netflix logo is displayed above its corporate offices on January 24, 2024 in Los Angeles, California. Mario Tama | Getty Images Netflix reports its second-quarter earnings after the bell on Thursday, and Wall Street will be paying close attention to any details or progress
The Canadian Dollar (CAD) is little changed on the session, leaving it as a marginal outperformer alongside the Australian Dollar (AUD) on a day where the US Dollar (USD) is trading a little higher overall, Scotiabank’s chief FX strategist Shaun Osborne notes. USD seems unable to extend much above 1.37 “Market-moving news is in short