UPCOMING EVENTS: Tuesday: US Durable Goods Orders, US Consumer Confidence. Wednesday: Australia Monthly CPI, Fed’s Waller. Thursday: BoJ Summary of Opinions, Australia Retail Sales, Canada GDP, US Final Q4 GDP, US Jobless Claims. Friday: US Good Friday Holiday, Japan Jobs data, Tokyo CPI, Japan Industrial Production and Retail Sales, US PCE, Fed Chair Powell. Tuesday
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As the financial year 2023-24 (April-March) is set to close in a week, gold’s returns so far amount to an impressive 11% beating the inflation by nearly twice. However, returns by silver over the same period have been a mere 3.2%. Both gold and silver have outperformed their peers in the international market. The yellow
Investors continue to bet on the easing cycle beginning by June, led by incoming data. The Greenback is holding resilient despite the Fed’s somewhat dovish guidance and falling US Treasury yields. Next week, the US will release PCE figures from February. The US Dollar Index (DXY) is currently trading at a robust 104.428, marking the
Crude oil futures are settling at $80.63. That is down $0.44 or -0.54%. The low for the day reached $80.42. The high was up at $81.45. For the trading week, the price is down -0.51% on a decline of $0.41. At session highs this week, the price was up $2.08. At session lows, the price
Goldman Sachs forecasts for USD/JPY: 3 months 155 (the prior forecast for 3 months out was 145) 6 months 150 (prior 142) 12 months 145 (prior 140) These are from a GS note sent to client on Friday. GS cite a “benign macro risk environment” for its bearish view on yen. GS analysts also say
Spot gold hit a fresh record high of $2,222 on a dovish FOMC monetary policy decision before giving back all the gains due to the resurgent dollar. It closed with a weekly gain of nearly 0.40% at $2,166 in an eventful week laden with monetary policy decisions of key central banks. The metal fell to
Gold prices see second day of decline, falling to $2,159 after peaking at an all-time high of $2,223. The Federal Reserve’s dovish stance on interest rates keeps US yields down, except for US Dollar. Odds for Fed rate cut in June remain above 70% via CME FedWatch Tool. Gold prices drop for the second consecutive
The USDJPY bumped against three-year highs this week on both Wednesday and Friday, and found willing sellers each time. The high on Wednesday reached 151.81. The high today reached 151.85. That compares to the 2022 high at 151.95, and the 2023 high at 151.91. So over the last three years, the swing highs are within
The major US indices are closing with mixed results today. The Dow industrial average and S&P index both closed lower. No record closes for those indices on the last trading day of the week. The NASDAQ index did close in positive territory and at a new record. A summary of the closing levels shows: Dow
Whether you’re a fan or not, meme coins have stormed the crypto market, reaching valuations in the billions. Notably, Dogecoin and Shiba Inu, leading the pack, boast market caps of approximately $22 billion and $16 billion, respectively, making them some of the most valuable projects in the crypto sphere. Amidst this frenzy, Solana has emerged
The past week in the currency markets was a dramatic whirlwind, marked by pivotal moves from major central banks across the globe. From BoJ’s unexpected hike to SNB’s surprise cut, from Fed’s hawkish leaning projections to BoE’s dovish voting, they collectively orchestrated a much volatile than usual trading environment. Amidst this chaos, Dollar emerged victorious
Indicators flash oversold conditions on the daily chart. Contrarily, hourly chart indicators suggest a slow return of bullish impulse as the bears might have run out of steam. In Friday’s session, the NZD/USD declined just below the 0.6000 threshold, illustrating a bearish outlook as sellers continue to dominate the market. The pair is positioned below
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The USD is ending the day mostly higher with gains vs all the major currencies with the exception of the JPY and CHF (-0.16% and -0.06 respectively). The strongest to the weakest of the major currencies The greenback rose the most vs the AUD (+0.84%), NZD (+0.79%) and CAD (+0.59%). Solid gains on the day
Oil prices slipped on Friday and were flat on the week as the possibility of a ceasefire in Gaza weakened crude benchmarks, while the war in Europe and shrinking U.S. rig count cushioned the fall. Brent futures for May delivery settled at $85.43, losing 35 cents. U.S. crude settled at $80.63 a barrel, falling 44
Dollar mounted a significant comeback overnight, demonstrating resilience amidst surge in risk-on sentiment that propelled the three major US stock indexes to record highs. The greenback continued to extend gains in Asian session, surpassing pre-FOMC highs against European majors. The shift in sentiment came in wake of SNB’s unexpected rate cut yesterday and dovish voting
Terry Vine | Getty Images Falling fertility rates are set to spark a transformational demographic shift over the next 25 years, with major implications for the global economy, according to a new study. By 2050, three-quarters of countries are forecast to fall below the population replacement birth rate of 2.1 babies per female, research published
AUD/USD has traded in the 0.6500 range through March – with a short rise above 0.6600. Economists at the National Australia Bank analyze the pair’s outlook. Aussie still expected to appreciate Our expectation for an appreciation above 0.7000 in H2 2024 is contingent on the reversal of the broad strength shown by the USD over the