The US Dollar locks in gains for this Friday and this week, trading at the strongest level since early-November. Traders are pushing the Greenback higher while markets are diving the forex markets in two camps with weaker-for-longer and stronger-for-longer currencies The US Dollar Index rallies towards 106.00. The US Dollar (USD) carries on to strengthen
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USD The Fed left interest rates unchanged as expected at the last meeting with basically no change to the statement. The Dot Plot still showed three rate cuts for 2024 and the economic projections were upgraded with growth and inflation higher and the unemployment rate lower. The US CPI beat expectations for the third consecutive
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
In the race of returns, gold appears to have left the S&P BSE Sensex behind by miles in 2024. The yellow metal has approximately given 13% returns on a year-to-date (YTD) basis as against a 4% gain delivered by India’s heartbeat index. In the 30-stock index, 10 have given returns superior to gold in 2024.
The forex markets turned quieter in Asian session today with minimal movements. Dollar is consolidating this week’s strong gain but there is no sign of extended pullback for now. There is still prospect for more upside before weekly close, and U of Michigan consumer sentiment and inflation expectation would be a trigger for another round
Plane contrails streak across the sky over Regent Street on February 15, 2024 in London, England. Dan Kitwood | Getty Images LONDON — U.K. gross domestic product rose 0.1% in February, the Office for National Statistics said on Friday, providing another sign of a return to sluggish economic growth this year. The month-on-month figure was
In this article JPM Follow your favorite stocksCREATE FREE ACCOUNT Jamie Dimon, President and CEO of JPMorgan Chase, speaking on CNBC’s “Squawk Box” at the World Economic Forum Annual Meeting in Davos, Switzerland, on Jan. 17, 2024. Adam Galici | CNBC JPMorgan Chase is scheduled to report first-quarter earnings before the opening bell Friday. Here’s
Japanese Finance Minister Shunichi Suzuki offered some verbal intervention on Friday. Suzuki said that a weak Japanese Yen (JPY) could push up import prices and have a negative impact on consumers and firms. Suzuki added that he will closely watch foreign exchange (FX) moves with a high sense of urgency. Key quotes “Weak yen has
The AUDUSD corrects higher today but into a cluster of MAs including the 100/200 bar MAs on the 4-hour chart and the 200-day MA. Although the price gets above the 200 day MA and the 100-bar MA on the 4-hour chart, it cannot extend above the 200-bar MA on the 4-hour chart, and buyers turn
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
Spot gold slid on Wednesday across the board hotter than expected US CPI inflation report that showed that both headline and core CPI climbed more than forecast. Spot gold closed with a loss of 0.80% at $2334. The Core CPI rose 0.40% for the third straight month Vs the forecast of 0.30%. The headline CPI
Euro weakens broadly following ECB’s decision to maintain interest rates unchanged, coupled with explicit suggestions of a potential rate cut ahead. However, selloff has been relatively mild, primarily because ECB’s statement didn’t serve as a definitive pre-announcement of rate cuts, unlike its 2022 guidance on rate hike. Moreover, the conditional guidance regarding future rate adjustments
A measure of wholesale prices increased less than expected in March, providing some potential relief from worries that inflation will hold higher for longer than many economists had expected. The producer price index rose 0.2% for the month, less than the 0.3% estimate from the Dow Jones consensus and not as much as the 0.6%
The US Dollar trades in the green across the board on Thursday’s European session. Traders brace for further US data and ECB monetary policy decision as well. The US Dollar Index consolidates above 105.00 and could set sail for 106.00. The US Dollar (USD) adds to gains on Thursday after having a field day on Wednesday,
USD The Fed left interest rates unchanged as expected at the last meeting with basically no change to the statement. The Dot Plot still showed three rate cuts for 2024 and the economic projections were upgraded with growth and inflation higher and the unemployment rate lower. Fed Chair Powell maintained a neutral stance as he
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 prices were little changed on Thursday, as the U.S. dollar and Treasury yields firmed after hotter-than-expected inflation data tempered hopes for an early interest rate cut. FUNDAMENTALS * Spot gold was unchanged at $2,337.99 per ounce, as of 0107 GMT. It hit a record high for an eighth straight session until Tuesday.* U.S. gold
Dollar remains firm in Asian session after the strong post-CPI rally. US stocks were deeply sold off as a June Fed rate cut is further priced out by the markets. Market attention is now keenly focused on the upcoming PPI for March, as well as University of Michigan’s consumer survey results. Should today’s PPI data