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
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Dollar dips slightly in early US session, following the release of May’s PCE core inflation data. This Fed’s preferred measure of inflation indicated a continued, though modest, progress in disinflation. However, the financial market’s response to the report was overall relatively muted, as the figures aligned closely with expectations. While the data is encourage, it
In this article LEVI Follow your favorite stocksCREATE FREE ACCOUNT A Levi’s store at the Orlando Vineland Premium Outlets in Florida. Jeff Greenberg | Universal Images Group | Getty Images In a lyric on her latest album, Beyoncé sings “denim on denim, on denim, on denim.” Levi Strauss shoppers are taking that advice to heart.
Pedestrians cross the street in front of a H&M store in Hong Kong. Sopa Images | Lightrocket | Getty Images Shares of H&M plunged more than 14% on Thursday morning after the company reported a smaller-than-expected increase in second-quarter profits and cast doubt over its June sales and full-year profit margin target. The stock pared
Japan’s Chief Cabinet Secretary Yoshimasa Hayashi reiterated on Friday, noting that he “will take appropriate steps on excessive FX moves.“ Additional quotes Won’t comment on forex levels. Important for currencies to move in stable manner reflecting fundamentals. Rapid FX moves undesirable. Closely watching FX moves. Market reaction USD/JPY pays little heed to these comments, trading
Dollar is showing renewed strength in Asian session, particularly against commodity currencies. Market reactions to the televised debate between US President Joe Biden and former President Donald Trump have been muted, with traders shifting their focus to upcoming inflation data. Both headline and core PCE inflation are expected to dip to 2.6% in May. For
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
The dollar is holding slightly higher across the board so far today, as we head into the final stretch of June and Q2 trading. The main pair to watch is still USD/JPY, with price now testing waters above the 161 mark. Where art thou Tokyo? USD/JPY daily chart As a reminder, the pace of the
Continuing the journey of the downside trend, gold August futures contracts at MCX opened near its support at Rs 71,446 per 10 gram, down by Rs 126 or 0.18% while MCX silver July futures opened at Rs 87,180/kg as the prices fell by Rs 4,400 in the month of June so far. On Thursday, gold
People purchase beverages in a store on a sweltering afternoon in Brooklyn, New York, on the first day of summer on June 21, 2024. Spencer Platt | Getty Images There could be some pretty good inflation news on the way from the Commerce Department when it releases a key economic report Friday. The personal consumption
In this article NKE Follow your favorite stocksCREATE FREE ACCOUNT Nike shoes and logo are seen at a store in Nice, France on May 28, 2024. Jakub Porzycki | Nurphoto | Getty Images Nike on Thursday reported its slowest annual sales growth in 14 years, excluding the Covid-19 pandemic, as the sneaker giant warned of
Mexican Peso remains weaker despite positive economic data. Banxico expected to keep rates unchanged with Citibanamex survey indicating most economists forecast no rate cut until Q3 2024. US data shows higher than expected Q1 GDP, lower unemployment claims, and stronger Durable Goods Orders, boosting USD. The Mexican Peso prints minimal losses in early trading during
Dollar weakens broadly weakening in the early US session following the release of a batch of economic data. Durable goods orders presented a mixed bag. Concurrently, continuing claims for unemployment benefits rose to their highest level in more than two-and-a-half years. Despite these indicators, there is no immediate cause for alarm. Instead, traders, observing the
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
Prior was 4.650% Bid to cover 2.58 vs 2.43 prior Yields steadily fell today ahead of the auction after a grind higher yesterday. We haven’t seen a coupon auction tail since the 3-year offering on June 10th. Since then, 2s, 3s (just now) 5s, 10s, 20s, 30s, and 5-year TIPS all stopped-through. I wouldn’t expect
Gold August futures contracts at MCX opened flat on Thursday at Rs 70,977 per 10 gram, down merely 0.16% or Rs 112, while silver September futures contracts were trading at Rs 88,743/kg, down by 0.44% or Rs 392. Gold prices have steadied slightly after two days of declines. The previous record high in May was
In this article WBA Follow your favorite stocksCREATE FREE ACCOUNT In an aerial view, a customer enters a Walgreens store on January 04, 2024 in San Pablo, California. Justin Sullivan | Getty Images Shares of Walgreens plunged more than 14% on Thursday after the company reported fiscal third-quarter earnings that fell short of expectations and
Here is what you need to know on Thursday, June 27: The Japanese Yen (JPY) recovers slightly after falling to its weakest level since 1986 against the US Dollar (USD) on Wednesday. The European Commission will release consumer and business sentiment data in the European session. The US economic docket will feature the final revision