Oil prices fell more than $1 on Tuesday, extending losses from a four-month low in the previous session, as investors worried about supply rising later in the year amid signs of weakening U.S. demand. Brent crude futures fell $1.14 cents, or 1.5%, to $77.22 a barrel at 0825 GMT. Brent on Monday closed below $80
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Dollar weakened broadly overnight, particularly against European majors, following disappointing US manufacturing data that also pressured benchmark Treasury yields lower. This data not only pushed benchmark Treasury yields lower but also triggered the greenback’s downturn. Despite these movements, the stock markets closed mixed, suggesting that the market reactions were not entirely aligned with the negative
In this article KSS Follow your favorite stocksCREATE FREE ACCOUNT Shoppers walk in front of a Kohl’s store in Mount Kisco, New York. Scott Mlyn | CNBC Kohl’s shares plummeted more than 20% in premarket trading Thursday after the company posted a surprise loss per share, coming in well below Wall Street’s expectations for a
Gold price fails to attract any follow-through buying despite a combination of supporting factors. Fed rate cut bets drag the USD to a nearly two-month low, but does little to lure XAU/USD bulls. Traders now look forward to this week’s important US macro data and key central bank event risks. Gold price (XAU/USD) struggles to
USDCHF falls below the 50% and looks toward the 100D MA The USDCHF is trading to new lows and in the process has moved below the 50% retracement target. That level comes in at 0.89763. The fall take the price closer to the rising 100-day MA. That MA comes in at 0.89277. The price of
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Gold prices edged higher on Monday as signs of cooling U.S. inflation lifted hopes for interest rate cuts from the Federal Reserve this year, while traders awaited a slew of U.S. economic data due this week. Spot gold was up 0.2% at $2,331.84 per ounce as of 09:49 a.m. ET (1349 GMT), after posting a
The forex markets are showing relatively limited movement today, remaining mostly within established ranges. Yen is having a slight uptick, supported by the dips in US and European benchmark treasury yields. But the Japanese currency’ gains are modest and insufficient to reverse recent declines. Meanwhile, Swiss Franc is charting a notable course as the day’s
City scene Yeni Camii great mosque by Golden Horn of Bosphorus River, Topkapi Palace, Hagia Sophia Istanbul, Republic of Turkey Tim Graham | Getty Images Inflation in Turkey topped 75% in May, up from 69.8% in April, in what economists expect to be the peak before prices start to ease. Consumer prices rose 75.45% in
Foot Locker surged Thursday after its quarterly earnings report showed signs that CEO Mary Dillon’s turnaround plan is starting to pay off. The sneaker retailer isn’t out of the woods just yet, but we’re removing the stock from our penalty box and upgrading its rating. Revenue declined 2.7% year over year to $1.879 billion, slightly
The meme stock craze is back, GameStop is higher by 75% at the start of the week, with AMC Entertainment also up nearly 30%. The driver of today’s move in GameStop was a Reddit post by Keith Gill, pertaining to showing a large position in GameStop call options. Those who play the meme stock game
Fundamental Overview The USD last week got a boost from the strong US Consumer Confidence data which triggered an aggressive rise in long term Treasury yields. The report however just showed that the labour market remains resilient which is good news for growth and not necessarily bad news for inflation. Eventually, both the Treasury yields
Headlines: Markets: JPY leads, GBP lags on the day European equities higher; S&P 500 futures up 0.2% US 10-year yields down 4.9 bps to 4.463% Gold up 0.1% to $2,330.09 WTI crude up flat at $77.01 Bitcoin up 2.0% to $69,057 There wasn’t many notable headlines in European trading today, with traders not having much
Gold prices fell on Monday as traders awaited more U.S. economic data this week after recent data showed that inflation stabilised and lifted hopes for the Federal Reserve to cut interest rates later this year. The August gold futures were trading at Rs 71,295 per 10 grams on the MCX at 12.08 pm and were
Global markets started the week on a positive note, drawing momentum from the robust close last week in the US and buoyed further by slightly better than expected manufacturing data out of China. In Tokyo, stocks received additional support from comments by BoJ Executive Director Takashi Kato, who indicated that the central bank has no
A Monzo debit card being used at a payment terminal. Monzo Monzo, the British digital challenger bank, on Monday reported its first full year of profitability. The fintech startup said in annual financial results that its pre-tax profits totaled £15.4 million ($19.6 million) in its 2023-2024 fiscal year, swinging to the black from a £116.3
China’s Caixin S&P Global Manufacturing Purchasing Managers’ Index (PMI) rose from 51.4 in April to 51.7 in May, according to the latest data released on Monday. The reading beat the market consensus of 51.5 in the reported month. Key highlights (via Caixin) Production expands at most pronounced pace since June 2022. Fastest purchasing activity growth in
The USDCAD traded lower despite the we can expected GDP data today, but in the process is tested a swing area support between 1.36049 and 1.36154. Support buyers came in against the level and pushed the price back to the upside. On the top side, the 100-bar moving average on the 4-hour chart at 1.3658