David A. Steinberg, CEO of Zeta Global Holdings, at the New York Stock Exchange. Source: NYSE Measuring the strength of the sprawling U.S. economy is no easy task, so one firm is sending artificial intelligence in to do the job. The Zeta Economic Index, launched Monday, uses generative AI to analyze what its developers call
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US Dollar recovers after slight losses following ISM PMIs data. Dollar finds cushion on high US Treasury yields. Signs of disinflation have begun to surface in the US economic landscape, which might justify bringing cuts forward. As the week begins, the US Dollar based on the DXY Index has cleared daily losses and currently sits
Crude oil futures are settling at $83.38. That is up $1.84 or 2.26% on the day. The gain is the largest one day gain since June 10 when the index rose 2.93% and driven by expectations of higher summer demand and concerns over potential supply shortages due to OPEC+ production cuts. Oil prices increased by
Goldman Sachs observes another indicator that the US dollar remains robust against its challengers. The broad dollar index has surpassed the October 2023 highs, with recent strength attributed to a lack of Federal Reserve rate cuts and strong US real rate advantages, making the dollar a formidable currency. Key Points: Broad-Based Strength: The broad dollar
Gold prices edged higher on Monday as a lower dollar prompted some short covering from investors with focus turning to U.S. jobs data due later this week that could offer more cues around interest rate cuts by the Federal Reserve. Spot gold was up 0.2% to $2,330.92 per ounce as of 10:02 a.m. ET (1402
Euro has seen a notable rebound as the new week commenced, though the lack of follow-through buying momentum is evident. The initial results from French parliamentary elections were not as dire as investors had feared. The far-right National Rally’s victory was not as overwhelming as anticipated. However, significant uncertainty remains as political parties scramble to
Silver price may extend its winning streak as recent inflation raises the odds of the Fed’s rate cuts. US PCE Price Index increased by 2.6% YoY in May, down from 2.7% in April. Silver may limit its upside due to demand uncertainties in China, the largest consumer of grey metal. Silver price (XAG/USD) remains stable
Fundamental Overview The USD continues to be backed by good economic data as we have also seen recently from the US PMIs last Friday and the US Consumer Confidence report this week. Although such data keeps the interest rates expectations stable around two cuts by the end of the year, it should also support the
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 August futures contracts on MCX opened at Rs 71,566 per 10 gram on Monday after trading flat in June, falling merely by Rs 300, while silver July futures contracts opened at Rs 87,035/kg, down by 0.15% or Rs 132, after falling by Rs 4,400 in June. Gold and silver traded steady amid inline expected
Euro is staging a solid rebound today, with investors feeling somewhat reassured by the preliminary results of French parliamentary elections. While the far-right National Rally made significant gains with approximately 34% of votes in the first round, this is insufficient for an outright majority in the second round scheduled for July 7. The National Rally’s
S&P 500 ran well into the data release, surged only to reverse in a four-hours selling streak. Some sectoral culprit? No, long-dated bonds did it – TLT daily slide did it. Was it fundamentally justified? Usually, you would see USD go up in tandem, but that didn‘t happen. The selling looks to me to be
Fundamental Overview The USD continues to be backed by good economic data as we have also seen recently from the US PMIs last Friday and the US Consumer Confidence report this week. Although such data keeps the interest rates expectations stable around two cuts by the end of the year, it should also support the
UPCOMING EVENTS: Monday: China Caixin Manufacturing PMI, Swiss Retail Sales, US ISM Manufacturing PMI. Tuesday: RBA Meeting Minutes, Eurozone CPI, Eurozone Unemployment Rate, Canada Manufacturing PMI, US Job Openings, Fed Chair Powell. Wednesday: Australia Retail Sales, China Caixin Services PMI, Swiss Manufacturing PMI, Eurozone PPI, US ADP, US Jobless Claims, US ISM Services PMI, FOMC
Oil prices slid in early Asian trade on Thursday as a surprise build in U.S. stockpiles fuelled fears about slow demand from the top oil consumer, though worries a potential expansion of the Gaza war may disrupt Middle East supplies capped declines. Brent crude oil futures fell 30 cents, or 0.4%, to $84.17 a barrel
Gold falls from daily highs, pressured by elevated US Treasury yields. May US PCE Index meets forecasts, fuels hope for 2024 Fed rate cuts. US 10-year yield hits 4.339%, a high since June 12; DXY at 105.80, down 0.08%. Gold prices retreated during Friday’s session after an inflation report revealed progress in the disinflationary process
Fundamental Overview The USD continues to be backed by good economic data as we have also seen recently from the US PMIs last Friday and the US Consumer Confidence report this week. Although such data keeps the interest rates expectations stable around two cuts by the end of the year, it should also support the
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