Gold has turned dearer by more than Rs 2,800 per 10 grams led by a six-session rally. The yellow metal hit a fresh 52-week high of Rs 65,525 on Thursday, surpassing a key resistance level of Rs 65,500 within hours of its opening. The recent surge in yellow metal in the domestic and international markets
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Dollar fell sharply overnight and the broad-based decline extended into Asian session today. Some analysts attributed this selloff to Fed Chair Jerome Powell’s commentary during his Congressional testimony. Powell’s mention of needing “a little bit more data” before contemplating rate cuts has ignited a wave of speculation among investors and analysts alike, interpreting this statement
European Central Bank policymakers on Thursday lowered their annual inflation and growth forecasts, as they confirmed a widely expected hold of interest rates. Staff projections now see economic growth of 0.6% in 2024, from a previous forecast of 0.8%. They presented a more positive picture on inflation, with the forecast for the year brought to
In this article AEO Follow your favorite stocksCREATE FREE ACCOUNT A shopper walks by an American Eagle store on November 21, 2023 in Glendale, California. Justin Sullivan | Getty Images American Eagle on Thursday announced a new strategy to boost profitable growth over the next three years, as the retailer said it wrote off $94
Share: EUR/JPY plummets to 161.00 as the ECB keeps lending rates unchanged at 4.5% as expected. The ECB has revised down inflation forecasts and near-term growth projections. Investors see the BoJ exiting dovish rate stance sooner. The EUR/JPY pair witnesses an intense sell-off, falling to 161.00 in Thursday’s early New York session. The asset drops
The buyers have plowed into the AUDUSD today. The low to high trading range is around 90 pips which is near double the 22-day average (month of trading) of 47 pips. That range is the 4th largest for the year, and the largest since February 13. So it is something to shout about. The move
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 edged lower on Wednesday but held above the $2,100 an ounce level, after rising bets for a June U.S. interest rate cut propelled bullion to a record peak in the previous session, ahead of Federal Reserve Chair Jerome Powell’s testimony. FUNDAMENTALS * Spot gold edged down 0.2% at $2,124.46 per ounce, as of
Dollar is trading broadly lower as markets enter into US session, with minimal backing from Fed Chair Jerome Powell’s prepared remarks for his Congressional testimony. Instead, the currency’s weakest is accentuated by extended drop in treasury yields and slightly disappointing ADP private job data. Amidst this backdrop, Swiss Franc emerges as the only currency performing
Yousef Gamal El-Din | CNBC Egypt’s pound hit a record low against the dollar on Wednesday after its central bank hiked interest rates by 600 points and devalued the currency. The steps were meant to facilitate an agreement with the International Monetary Fund, which is expected to confirm the extension of its current $3 billion
In this article FL Follow your favorite stocksCREATE FREE ACCOUNT The Foot Locker logo is displayed in a store on May 19, 2023 in San Francisco, California. Justin Sullivan | Getty Images Shares of Foot Locker fell in premarket trading Wednesday after the sneaker retailer reported a holiday-quarter loss, issued weak guidance for the current
Share: Australia’s trade surplus widened to 11,027M MoM in February versus 11,500M expected and 10,743M in the previous reading, according to the latest Aussie foreign trade data published by the Australian Bureau of Statistics on Thursday. Further details reveal that Australia’s December Goods/Services Exports reprint 1.6% figures on a monthly basis versus 1.8% prior. The
Bringing you a new analysis of NVIDIA’s (NVDA) impressive journey and what the future holds for this tech giant. 📈 Someone curious in one of our groups asked about NVDA’s direction, sparking me to share insights using what I call the “Levitan Method”. Back when NVDA was at $122 to its low on $108 ,
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 slipped on Wednesday amid profit booking after hitting their lifetime high in the previous session in the international and domestic markets. In the early trade, MCX gold fell Rs 460/10 grams after scaling a new peak of Rs 65,140 per 10 grams in a back-to-back rally. Taking cues from the international prices, MCX
Dollar faced some selling pressure overnight, as dragged down by the sharp decline in the 10-year treasury yield. Despite this, the impact on the greenback was relatively contained, thanks to significant pullbacks in major stock indices, which provided a cushion against more substantial losses. Today’s spotlight turns to Fed Chair Jerome Powell’s semiannual testimony, an
People work at a restaurant at Chelsea Market in Manhattan on February 02, 2024 in New York City. Spencer Platt | Getty Images Private sector job growth improved during February though growth was slightly less than expected, payrolls processing firm ADP reported Wednesday. Companies added 140,000 positions for the month, an increase from the upwardly
In this article ANF Follow your favorite stocksCREATE FREE ACCOUNT An Abercrombie & Fitch store in New York, US, on Monday, Nov. 20, 2023. Abercrombie & Fitch Co. is scheduled to release earnings figures on November 21. Stephanie Keith | Bloomberg | Getty Images Abercrombie & Fitch said Wednesday that its holiday-quarter sales jumped 21%