GBP/USD mildly up after PCE figures from the US meet expectations In Friday’s session, GBP/USD is being traded around 1.2640, registering a variation of 0.14% as investors digest the US February Personal Consumption Expenditures (PCE) figures. Read More… GBP/USD Price Analysis: The first downside target is seen at the 1.2600-1.2605 zone The GBP/USD pair trades on
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[The stream is slated to start at 8:15 a.m. ET. Please refresh the page if you do not see a player above at that time.] The Commerce Department on Friday will release the February reading for the personal consumption expenditures price index, which the Federal Reserve considers its most important inflation measure. CNBC TV will
USD The Fed left interest rates unchanged as expected 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 said that it was
Goldman Sachs outlines its projections for the monetary policy paths of both the Federal Reserve and the European Central Bank (ECB) over the coming years. The firm expects the Fed to initiate a series of rate cuts starting in June 2024, eventually reaching a terminal rate range of 3.25-3.5%. In contrast, the ECB is forecasted
Gold prices eased on Thursday as the U.S. dollar and bond yields ticked higher after comments from a Federal Reserve official on interest rate cuts, while investors looked forward to more economic data for policy clues. FUNDAMENTALS * Spot gold was down 0.2% at $2,189.29 per ounce, as of 0139 GMT. * U.S. gold futures
Dollar dips mildly in the wake of the latest PCE inflation data, which largely met market expectations without delivering any significant surprises. Notably, headline inflation saw a slight uptick, primarily driven by rising energy costs. Core inflation saw a slight deceleration from last month’s upwardly revised figures. However, a key point of concern remains the
The daily chart reveals slightly bullish momentum, with RSI at 52, signifying resilient buying traction. Indicators in the hourly chart denote a mild downward trend, which could hint at a potential shift. Buyers must successfully maintain the main SMAs to mitigate bearish threats and ensure bullish continuation. The EUR/JPY pair is currently trading at 163.13,
Inflation rose in line with expectations in February, likely keeping the Federal Reserve on hold before it can start considering interest rate cuts, according to a measure the central bank considers its more important barometer. The personal consumption expenditures price index excluding food and energy increased 2.8% on a 12-month basis and was up 0.3%
Huawei brought one of the largest displays to Mobile World Congress in Barcelona in February 2024. Sopa Images | Lightrocket | Getty Images BEIJING — Chinese telecommunications company Huawei said Friday its net profit for 2023 more than doubled thanks to better product offerings. The company also attributed the profit gains to revenue growth of
Australian Dollar remains tepid as market bias leans towards RBA adopting a dovish stance. Australia’s central bank may consider cutting interest rates in the second half of 2024. US Dollar strengthens as recent data suggests that the Fed may delay implementing rate cuts shortly. The Australian Dollar (AUD) extends its losses for the second successive
The has moved up to a new session high at 5262.47, and in the process is trading at a new intraday all-time high price extending above the March 21 at 5261.10. The S&P is looking to end the quarter with gains of over 10% and the largest first-quarter gain since 2019. The current gain is
It is shaping up to be a quiet one as we look towards the session ahead today. That is to be expected though as the Easter bunny is here to visit. Major currencies are subdued with little to work with in general for the time being. US markets will be open though, and that will
Gold price climbed Rs 350 to Rs 67,350 per 10 grams in the national capital on Thursday amid strong trends in the international markets, according to HDFC Securities. Extending its gains for the second straight session, the price of the precious metal had settled at Rs 67,000 per 10 grams in the previous trade. Silver
Nikkei tumbled sharply in Asian session today, largely in response to Yen’s rebound late yesterday, which followed strong verbal interventions by Japanese officials aimed at curbing the currency’s recent weakness. Additionally, profit-taking activities could be another factor as markets gear up for an extended holiday weekend. Yen’s rebound,while notable, has not yet demonstrated strong momentum,
Canadian Dollar is regaining lost ground after upbeat Canadian GDP data. US Dollar looks weak despite good US Jobless claims, upward revision of Q4 GDP. The focus is now on Friday’s PCE Prices Index and Fed Powell’s speech. The Canadian Dollar (CAD) is trading higher for the fourth consecutive day on Thursday, yet with price
The price of crude oil is trading up $1.41 or 1.73% today at $82.77. With 1Q quarter end approaching, the price is up a solid 15.53%. The price at the end of the year closed at $71.65. The gain is the largest since Q3 in 2023 when the price surged 28.52% only to then decline
Synopsis: Bank of America reaffirmed its bullish stance on EUR/USD, projecting the pair to reach 1.15 by the end of 2024, in contrast to the more conservative consensus forecast of 1.10 for this year and 1.14 by 2025. BofA’s optimism stems from expectations of a weaker dollar driven by moderating inflation and anticipated Federal Reserve
Oil prices rose on Thursday, following two consecutive sessions of decline, as investors anticipated tighter supplies given the OPEC+ producer alliance is widely expected to stay the course on its current production cuts. Brent crude futures for May were up $1.23, or 1.4%, at $87.32 a barrel, while the more actively traded June contract rose