Gold prices ticked up on Friday and were on track for a weekly gain, as recent economic data prompted traders to raise bets of an interest rate cut from the Federal Reserve later this year. FUNDAMENTALS * Spot gold was up 0.1% at $2,347.98 per ounce, as of 0046 GMT. Bullion prices have risen 2%
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The flags of the U.S. and Germany are on the table at a bilateral meeting between German Economics Minister Habeck and U.S. Secretary of State Blinken at a hotel on the Gendarmenmarkt. Photo: Christoph Soeder/dpa (Photo by Christoph Soeder/picture alliance via Getty Images) Christoph Soeder/dpa | Picture Alliance | Getty Images After years of China
In this article DIN Follow your favorite stocksCREATE FREE ACCOUNT Scott Mlyn | CNBC Applebee’s and IHOP owner Dine Brands thinks its deals can lure away fast-food customers who have grown frustrated with menu prices. As consumers pull back their restaurant spending, Applebee’s and IHOP are fighting against a larger group of rivals than usual
Federal Reserve (Fed) Bank of Richmond President Thomas Barkin hit newswires late Friday reaffirming a “patient” approach from the Fed will eventually reduce inflation to the US central bank’s desired target level. Key highlights The current economy calls for a deliberate and patient approach. With appropriate policy and time, inflation will hit 2%. Demand is
In the kickstart video for April 10, I take a look at three of the major currency pairs from a technical perspective – the EURUSD, USDJPY and GBPUSD. In this report, I also take a quick look at the USDCAD after it’s stronger than expected April jobs report which showed a gain of 90.4K –
I saw this chart today (here) and didn’t believe it so I double checked the Census Bureau and it’s true. The current projection is for the US population to now peak at just-under 370 million in 2080 but with it reaching 359m in 2040, it’s a really long plateau. Given the plunge in fertility rates
After consistently trading below Rs 72,000 for the past few sessions, gold prices on MCX for June futures contracts rose by Rs 442 or 0.62% to trade at Rs 72,081 per 10 grams on the auspicious occasion of Akshaya Tritiya on Friday. Meanwhile, MCX July silver contracts were up by Rs 418 or 0.49% to
Commuters in London. Jason Alden/Bloomberg via Getty Images The U.K. economy has emerged from recession as gross domestic product rose 0.6% in the first quarter, official figures showed Friday, beating expectations. Economists polled by Reuters had forecast growth of 0.4% on the previous three months of the year. The U.K. entered a shallow recession in the second
In this article HOOD Follow your favorite stocksCREATE FREE ACCOUNT Spencer Platt | Getty Images Shares of Robinhood rose in extended trading Wednesday afternoon after the retail brokerage announced stronger-than-expected first-quarter results. Robinhood reported net income of $157 million, or 18 cents per share, for the first quarter. That is a positive swing from the
The daily chart reveals a subtle change in buyers’ momentum, noted by decreasing MACD green bars and a neutral RSI. Hourly indicators picture a balanced scenario for the session. At the end of the week, the NZD/USD has lost 0.21% as buyers seem to have run out of steam. The sluggish trend momentum might suggest
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
The US session was informed most by the University of Michigan consumer sentiment preliminary data which showed a sharp decline in the sentiment index to 67.4 from 76.0 . The expectations also fell sharply to 66.5 from 75.0 and current conditions also tumbled to 68.8 versus 79.0. To make the data even worse when you
Spot gold extended its rate cut hope rally Friday to rise to $2378 before giving back some of the gains to close with a gain of 0.59% at $2360. It slid from the day’s high on hotter-than-expected University of Michigan consumer inflation expectations data, however, it was still up around 2.60% on the week. The
Global markets were buoyed by pervasive risk-on sentiment last week, with both FTSE and DAX setting new records and major US indices posting substantial gains. Even Hong Kong HSI extended its rally from January’s lows by 25%, underscoring a broad uptick in investor confidence. In Europe, enthusiasm was particularly pronounced following the ECB’s reaffirmation of
Bank of England Governor Andrew Bailey attends the central bank’s Monetary Policy Report press conference at the Bank of England, in London, on May 9, 2024. The Bank of England on Thursday kept its main interest rate at a 16-year high, but hinted at a cut over the summer as UK inflation cools further and
In this article ARM Follow your favorite stocksCREATE FREE ACCOUNT The logo of semiconductor design firm Arm on a chip. Jakub Porzycki | Nurphoto | Getty Images Shares of British chip designer Arm closed down more than 2% on Thursday as lackluster revenue guidance clouded a positive sales quarter driven by demand for artificial intelligence
Notable monetary divergence between Fed, G10 peers keeps USD afloat. Markets await further economic reports for insights into the US economy’s health for potential adjustments to Fed expectations. Next week’s highlight will be April’s US CPI. The US Dollar Index (DXY) is currently trading around the 105.35 mark, posting mild gains on Friday near the end
EURUSD falls back to support targets after resistant test The EURUSD moved higher in the early US session reaching a new intraday high of 1.07895. That got within a paper so of the 50% midpoint of the move down from the March 2024 high to the April 2024 low at 1.07906. The 200 day moving