A picture taken on August 14, 2018 shows the logo of Turkey’s Central Bank at the entrance of its headquarters in Ankara, Turkey. ADEM ALTAN | AFP | Getty Images Turkey’s central bank is opting for a different monetary tightening method as it grapples with climbing inflation, after previously signaling that its rate-hiking cycle was
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Mexican Peso sees modest uplift as US inflation data tempers Fed easing expectations. Industrial Production in Mexico shows resilience, reinforcing views on potential Banxico rate adjustments. Deputy Governor Omar Mejia hints at upcoming rate cuts, with a focus on maintaining restrictive monetary policy. US Industrial Production recovery and shifts in consumer sentiment barely move the
Goldman Sachs has raised its average gold price forecast for 2024 to $2180 from $2090. The current price is trading at $2161. Gold buyers remain in control Looking at the daily chart above, the price of gold extended to a new all-time high last Friday at $2195.15. That run extended above the December 4 high
Over the weekend, the Chinese Inflation data beat expectations by a big margin: CPI Y/Y 0.7% vs. 0.3% expected and -0.8% prior. CPI M/M 1.0% vs. 0.7% expected and 0.3% prior. Core CPI Y/Y 1.2% vs. 0.4% prior. Core CPI M/M 0.5% vs. 0.3% prior. China National Bureau of Statistics (NBS) on the CPI rise:
Gold prices held steady on Friday as they looked set to log their first weekly drop in four as investor hopes of a U.S. interest rate cut in June took a hit after data over the week showed bubbling price pressures. Spot gold was little changed at $2,163.10 per ounce, as of 10:17 a.m. EDT
Yen’s pull back continues today despite more positive news on wages negotiations in Japan. Remarkably, the currency has undone its gains from last week against all major counterparts, barring the even more beleaguered New Zealand Dollar. Expectations are still leaning towards an imminent interest rate hike by BoJ; however, speculation is rife that the central
The European Central Bank must take its time to get interest rate cuts right and will have a clearer picture of inflationary pressures in June, the institution’s chief economist told CNBC. “A lot of evidence is accumulating, but what’s also fair to say is that the transition from this holding phase, we’ve been on hold
Construction workers are seen at a new condominium building project in Huerth, western Germany, on April 5, 2023. Ina Fassbender | Afp | Getty Images Shares of German property giant Vonovia fell as much as 7% on Friday, shining a light on a deepening real estate crisis in Europe’s largest economy. The share price slightly
EUR/USD has seen some movement in the first two months of the year but remains relatively rangebound between the 1.0750 and 1.1000 levels. Economists at the National Bank of Canada analyze the pair’s outlook. Some volatility for the Euro expected over the next quarters We expect some volatility for the Euro over the next quarters,
The USD buying today has also influenced the price action in the NZDUSD. For that pair, the pair fell and initially found support buyers against the 200- hour moving average and 50% retracement near 0.61418. After bouncing modestly, the sellers piled in and pushed below the dual technical levels. The subsequent momentum in the price
Japan’s finance minister Suzuki said today that the country was “no longer in deflation.” This is a sharp turnaround from comments from officials previously. Indeed, it was only Tuesday when Suzuki was reported as saying we cannot declare deflation as beaten. Suzuki’s comment today is clear support for the Bank of Japan to tighten policy.
– Gold prices were headed on Friday for their first weekly fall in four as surprisingly hot U.S. inflation readings suggested that the Federal Reserve could reduce the number of rate cuts this year and may push the first cut beyond June. FUNDAMENTALS * Spot gold was up 0.1% at $2,162.66 per ounce, as of
Overall, the forex markets are still stuck in consolidative trading in Asian session, with expectations set for a subdued European session given the light economic calendar. However, anticipation builds for volatility spikes with releases of US retail sales and PPI later today. For now, Canadian Dollar is the stronger one for the week, followed by
Gas prices are displayed at a gas station on March 12, 2024 in Chicago, Illinois. Scott Olson | Getty Images From consumer and wholesale prices to longer-term public expectations, reports this week served up multiple reminders this week that inflation isn’t going away anytime soon. Data across the board showed pressures increasing at a faster-than-expected
In this article ADBE Follow your favorite stocksCREATE FREE ACCOUNT Adobe CEO Shantanu Narayen speaks during an interview with CNBC on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., February 20, 2024. Brendan Mcdermid | Reuters Adobe shares tumbled as much as 9% in extended trading on Thursday after
Indian Rupee trades on a negative note on Friday amid a stronger US Dollar. India’s Wholesale Price Index-based inflation dropped to a four-month low, weaker than expected. Investors will focus on the Indian Trade Balance data and US preliminary Michigan Consumer Sentiment, due on Friday. Indian Rupee (INR) loses momentum on Friday. The uptick in
In this video, I take a look at the AUDUSD as it follows the USD higher and tests the low in AUDUSD from earlier this week. A break below would next have traders looking toward the 100 day MA at 0.66735. As a bonus and in addition to the technicals that are driving the AUDUSD,
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