After a 13% rally so far this year, crude oil prices have been consolidating in a narrow range amid concerns over China’s economic activity and rise in US crude oil stocks. The Fed’s assertions on the possibility of rate hike is making the Street nervous. Could this be a setback for Indian oil prices which
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AUD rose against USD due to US inflation reduction and a potential dovish stance from the Fed. Soft PCE data from the US may benefit the Aussie policy divergence between the RBA and Fed. RBA’s delayed rate cuts could bolster the Aussie, contrasting with other G10 central banks’ reduction strategies. Friday’s session recorded a significant
Fundamental Overview This was a messy week for many markets, including gold. After some up and downs, we are ending the week basically flat. There was no real change in the fundamentals this week as the data just showed some more rebalancing in the US labour market but didn’t signal any material weakness. As of
SPX daily Closing changes: S&P 500 down 0.4% Nasdaq down 0.7% Russell 2000 +0.1% DJIA -0.1% Toronto TSX Comp -0.5% The S&P 500 closed the half-year up a tidy 14% but today’s reversal from an all-time high is somewhat ominous. However against that backdrop note that the first three trading days of July are traditionally
Weak looking spot gold recovered on Thursday and Friday ahead of the key US PCE inflation data due Friday. Spot gold managed to recover nearly 2% from the weekly low of $2293 as it rallied to $2339 level; however, the metal gave back some of its gains on the much awaited US PCE inflation data
Yen remained in the spotlight last week, dominating headlines even as some significant global inflation data also moved markets. The Japanese currency continued its downtrend, reaching multi-decade lows. Despite the prolonged decline, Japanese authorities refrained from intervening directly in the markets. However, the looming threat of intervention kept traders cautious, resulting in a more controlled
An important economic measure for the Federal Reserve showed Friday that inflation during May slowed to its lowest annual rate in more than three years. The core personal consumption expenditures price index increased just a seasonally adjusted 0.1% for the month and was up 2.6% from a year ago, the latter number down 0.2 percentage
US Dollar saw a slight dip at the end of the week, clearing daily gains. US Dollar finds support amid high US Treasury yields. May’s PCE data showed an unexpected deceleration in US inflation. The end of the week saw the US Dollar, as benchmarked by the DXY Index, settle near 105.80, after hitting a
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. Yesterday, we also got the US Jobless Claims figures where the data showed that the labour market continues to rebalance via less job
Markets: Gold down $3 to $2342 US 10-year yields up 9.8 bps to 4.39% WTI crude down 19-cents to $80.64 S&P 500 down 0.4% AUD leads, JPY lags Friday was the final day of the quarter and that made drawing conclusions tough. It was especially difficult because the US political scene was thrown into disarray
Oil prices rose in early Asian trading hours on Friday, setting up a third straight weekly jump, as concerns about supply problems from escalating geopolitical tensions and weather-related disruptions offset signs of weak demand. Brent crude futures for August settlement, which expire on Friday, rose 15 cents, or 0.2% to $86.54 a barrel by 0020
Australian Dollar surged broadly in Asian session following a much stronger-than-expected monthly CPI report, sparking speculation that RBA might return to rate hikes in August. Comments from a top RBA official also indicated that the central bank is vigilant about upside risks to inflation. The upcoming inflation reports for June and the more critical Q2
As the sunsets, a ferry boat glides across the waters of the Golden Horn with the Suleymaniye Mosque and the city of Istanbul, Turkey in the background. Vw Pics | Universal Images Group | Getty Images The Financial Action Task Force, an international watchdog organization dedicated to combating money laundering and illicit cash flows, on
In this article LEVI Follow your favorite stocksCREATE FREE ACCOUNT A shopper leaves the American clothing company brand, Levi´s (Levis) store, and logo in Spain. Xavi Lopez | Lightrocket | Getty Images Denim is having a moment with consumers, but it hasn’t led to a major sales boost at Levi Strauss. The jeans creator on
Canadian Dollar bolstered by rising market sentiment. Canada posted a 0.3% uptick in GDP, propping up CAD. US PCE inflation also ticked lower, further bolstering rate cut hopes. The Canadian Dollar (CAD) found some room on the high side on Friday, pushing up by a scant tenth of a percent against the US Dollar amid
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. Yesterday, we also got the US Jobless Claims figures where the data showed that the labour market continues to rebalance via less job
The Dallas and Cleveland PCE remix data illustrates why Fed officials and markets are feeling better about the pricing picture. One month annualized trimmed mean 1.4% vs 2.7% prior (lowest this year) Six month annualized 3.0% vs 3.1% prior 12-month 2.8% vs 2.9% prior Digging through the numbers, some drivers of inflation: Prescription drugs Tobacco
Gold prices edged lower on Friday but were headed for their third consecutive quarterly rise, while investors looked toward key U.S. inflation data due later in the day that could throw some light on the Federal Reserve‘s stance on interest rate cuts. FUNDAMENTALS * Spot gold was down 0.3% at $2,321.39 per ounce, as of