Gold prices firmed near month-high levels on Friday and were set for a second weekly rise after data showed that U.S. inflation was gradually easing, while traders turned their focus to remarks from a slew of Federal Reserve officials. FUNDAMENTALS * Spot gold was steady at $2,043.98 per ounce, as of 0150 GMT, after hitting
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Yen reverses some of yesterday’s gains after cautious comments from BoJ Governor Kazuo Ueda, which highlighted that Japan is “not there yet” to reach the long-sought-after sustainable inflation rate of 2%. Ueda’s perspective starkly contrasted with the more hawkish tones of Board Member Hajime Takata, who has advocated for beginning discussions on exiting the ultra-loose
A salesman preparing a bag of sweets for a customer in the Sicilian confectionery shop Mazzone on February 02, 2024 in Catania, Italy. Fabrizio Villa | Getty Images News | Getty Images Inflation in the 20-nation euro zone eased to 2.6% in February, flash figures showed on Friday, but both the headline and core figures
Supply chain disruptions are causing a production backlog at the world’s largest truckmaker, Daimler Trucks. Bloomberg | Getty Images Shares of Daimler Truck hit a fresh all-time high Friday, spiking more than 13.5% in early deals, after posting record full-year profit and announcing a 2 billion euro ($2.16 billion) share buyback program. The German truck
Share: WTI Oil jumps to $78, trying to break higher. Oil traders are seeing bullish signals as US macroeconomic data points to a recovery and OPEC looks set to lengthen its production cuts. The US Dollar Index is back above 104.00, though it is unable to clearly break away from a pivotal level. Oil prices
NZDUSD keeps finding support at the 200 day MA The NZDUSD moved sharply lower yesterday after the Reserve Bank of New Zealand rate decision was unchanged with a more dovish bias. That was in contrast to the market assessment that the central bank would be more hawkish (and perhaps raise rates). Looking at the 4-hour
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Gold prices held ground on Thursday as traders awaited the Federal Reserve’s preferred inflation gauge due later in the day that could provide a fresh perspective into when the U.S. central bank could start cutting interest rates. FUNDAMENTALS * Spot gold was steady at $2,035.78 per ounce, as of 0210 GMT. U.S. gold futures edged
US stock futures bounce while treasury yields weaken following release of January’s PCE inflation data, which showed slowdown in both headline and core inflation rates as anticipated. This development provided some relief to investors, who were concerned that disinflation progress might have come to a halt. Fed should remain more likely start interest rate cuts
Inflation rose in line with expectations in January, according to an important gauge the Federal Reserve uses as it deliberates cutting interest rates. The personal consumption expenditures price index excluding food and energy costs increased 0.4% for the month and 2.8% from a year ago, as expected according to the Dow Jones consensus estimates. The
In this article BBY Follow your favorite stocksCREATE FREE ACCOUNT People walk past a Best Buy store in Manhattan, New York City, November 22, 2021. Andrew Kelly | Reuters Best Buy surpassed Wall Street’s revenue and earnings expectations for the holiday quarter on Thursday, even as the company navigated through a period of tepid consumer
Share: Crude Oil capped after US stocks increase. US PCE print limits risk appetite. Geopolitical headline tension is easing slightly. West Texas Intermediate (WTI) US Crude Oil traded closely with the $78.00 handle on Thursday as bullish Crude Oil momentum stopped in its tracks as rising US Crude Oil stocks begin to weigh on energy
The RBNZ kept rates unchanged at 5.5%, and were more dovish in their projections and their comments. As a result, the NZD is tumbled lower. The NZDUSD has broken through some key support levels. The 100 and 200-bar moving averages on the 4-hour chart were broken at 0.61310 and 0.6126. More recently in the North
On the yen move, these are the earlier posts: Besides that, there hasn’t been much activity among major currencies so far on the session. In fact, other dollar pairs are only seeing 0.1% change currently. And that speaks to the lack of appetite today and for the most part, this week. Looking to the remainder
Gold prices were steady on Thursday ahead of the inflation numbers that are due for release later today. The yellow metal has traded in a tight range this week and it was trading with a minor uptick in the early trade amid a slip in the dollar index (DXY). The DXY has fallen by nearly
Japanese Yen rallied broadly in Asian session, energized by hawkish remarks of a BoJ official. These remarks served as a potent reminder to the markets of two critical points: Firstly, BoJ is poised to hike interest rates, buoyed by positive developments in wage negotiations; secondly, while April is viewed as the more likely timing for
In this article Follow your favorite stocksCREATE FREE ACCOUNT Employee Mo Soto arranges a shelf at a Birkenstock store on October 10, 2023 in Venice, California. Ethan Swope | Getty Images Birkenstock on Thursday beat holiday quarter revenue expectations, reporting a 26% year-on-year jump, as the German sandal company benefited from higher pricing and rising
Share: NZD/USD plunged by after the Reserve Bank of New Zealand (RBNZ) reverted to a dovish hold. Economists at DBS Bank analyze Kiwi’s outlook. Fed Chair Powell will seek to discourage markets from repricing excessive rate cuts With the RBNZ’s rate hike bias diminished, NZD/USD is vulnerable to a stronger Greenback on US data surprises