Gold prices inched up on Tuesday, rising above the $1,800 level, underpinned by concerns over mounting coronavirus cases globally and as many regions reintroduced curbs to restrict the outbreak. Spot gold rose 0.2% to $1,805.83 per ounce by 10:42 am EDT (1442 GMT). U.S. gold futures fell 0.2% to $1,810.20. “We are still bullish on
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Risk sentiments continues to be weak today but selloff in the stock markets is so far limited. Euro rides on the indecisive markets and surges broadly today, with help by strong rally against Sterling. Swiss Franc is following as the second strongest so far. On the other hand, New Zealand Dollar is the worst performing
U.S. consumer prices increased by the most in nearly eight years in June as businesses reopened, but the underlying trend suggested inflation would remain muted and allow the Federal Reserve to keep injecting money into the ailing economy. The Labor Department said on Tuesday its consumer price index increased 0.6% last month, the biggest gain
Jamie Dimon, chief executive officer of JPMorgan Chase & Co. Giulia Marchi | Bloomberg | Getty Images JPMorgan Chase is scheduled to report second-quarter earnings before the opening bell on Tuesday. Here’s what Wall Street expects: Earnings: $1.04 per share, a 63% decline from a year earlier, according to Refinitiv. Revenue: $30.3 billion, 2.5% higher
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A new report released on Tuesday by Crystal Blockchain attempts to categorize cross-border transactions of Bitcoin based on their “country of origin,” which may have important implications for the FATF Travel Rule. The analysts used direct exchange-to-exchange transactions and their country of incorporation to categorize Bitcoin (BTC) transfers by their provenance. Despite the fact that
EUR/USD keeps the firm note in the 1.1365/70 band on Tuesday. A move north should see the 1.14 neighbourhood revisited. EUR/USD is prolonging the rebound from Friday’s lows near 1.1250, managing well to retake last week’s tops in the 1.1370/80 band. If the buying bias picks up pace, there is increasing chances of a move
AUD/USD touches a low of 0.6921 amid a slight dent to the risk mood in early trading but isn’t running anywhere just yet For bank trade ideas, check out eFX Plus Risk continues to keep more defensive to start the session with European equities still seeing losses of around 1.5% to 2.0% currently. Meanwhile, US
ZEW with some remarks accompanying the earlier survey After a very poor Q2, experts expect to see gradual increase in GDP in 2H 2020 The headline refers to the expectations reading in the survey earlier, after some budding optimism seen in the earlier months. This pretty much sums up economic sentiment at the moment within
LONDON: Oil prices fell on Tuesday on worries that new restrictions to stem surging US and Asian coronavirus cases could threaten a recovery in fuel demand just as OPEC+ producers prepare to increase output from August. Brent crude futures fell 44 cents to $42.28 a barrel by 0840 GMT and US West Texas Intermediate (WTI)
Sentiments seemed to have a turn as surge of coronavirus cases in the US pushed California back into lockdown. Asian markets are under some selling pressure. But the more indicative development was the sharp -2.13% decline in NASDAQ overnight. It remains to be seen if tech index is finally giving up its resilience as investors
A construction worker wearing a protective mask moves bricks to the back of a house as they resume construction on a home in Bloomfield Hills, Michigan, May 7, 2020. Emily Elconin | Bloomberg via Getty Images It is the perfect storm for the nation’s homebuilders. A sharp decline in the supply of existing homes for
Earnings season may kick-off with an upside surprise. National Securities’ Art Hogan is optimistic the banks’ second quarter results will come in better than expected and help lift stocks. “I don’t think expectations for bank earnings have ever been as low as they are coming into this quarter,” the firm’s chief market strategist told CNBC’s
Sohrab Sharma, one of the co-founders of cryptocurrency firm Centra Tech facing charges related to a $25 million initial coin offering scam, is reportedly planning to plead guilty. According to a July 13 report from Bloomberg, Sharma may avoid a November trial date as his lawyers told a federal judge he would be interested in
AUD/USD attempts recovery from 0.6938 after a three-day losing streak. Risk-positive headlines, concerning virus and Sino-US relations, recall the early-Monday optimism. Aussie NAB Numbers, Chinese Trade Balance and the US Inflation data to join risk catalysts for fresh directives. AUD/USD retraces the heavy drop from 0.6995 to 0.6938 while bouncing off to 0.6943 amid the
California rolling back reopening and the outside the lower close pressure tech talks The US stocks are ending the session with mixed/negative results. The Dow industrial average actually close marginally higher on the day. The S&P index and NASDAQ, however, reversed earlier gains and fell sharply. Contributing to the declines was the news that California