Gold prices held steady on Friday as investors’ attention shifted to the U.S. Federal Reserve‘s policy meeting due next week for more insights into the interest rate outlook. Spot gold was little changed at $2,016.95 per ounce by 02:15 p.m. ET (1915 GMT), down 0.6% so far this week. U.S. gold futures settled mostly flat
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The subdued trading in the forex markets observed through the week continued in today’s Asian session. Despite numerous central bank decisions and key economic data releases, most major currency pairs and crosses are staying within last week’s range. Euro, as the worst performer. so far is a notable exception. This lackluster performance seems tied to
Residents waiting at a bus stop under a large Turkish flag in Istanbul, Turkey, on Sunday, April 30, 2023. Bloomberg | Bloomberg | Getty Images Turkey’s central bank on Thursday hiked its key interest rate by another 250 basis points to 45%. The hike to the benchmark one-week repo rate was in line with economists’ expectations.
Jeans are displayed at a Levi Strauss store in New York, March 19, 2019. Shannon Stapleton | Reuters Levi Strauss will lay off at least 10% of its global corporate workforce as part of a restructuring, the apparel retailer said Thursday. The job cuts will take place in the first half of the year, and
Share: EUR/USD reclaims territory near 1.0880 after drop into 1.0820. German Consumer Confidence declined to 11-month low. US PCE inflation eased more than expected, but spending remained high. EUR/USD recovered recent losses on Friday, recovering back into familiar technical levels. Still, overall gains remained limited after German Consumer Confidence backslid to almost a one-year low
USD The Fed left interest rates unchanged as expected at the last meeting with a shift in the statement that indicated the end of the tightening cycle. The US GDP beat expectations by a big margin. The latest US CPI slightly beat expectations but analysts expect the Core PCE to print at 0.2% M/M again
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Oil prices eased in early trading on Friday, but were set to close higher for the week on positive economic data from the United States and China and a draw in U.S. crude stocks. Brent crude futures eased 32 cents, or 0.39%, to $82.12 a barrel by 01:15 GMT. U.S. West Texas Intermediate crude fell
Dollar falls mildly in early US trading hours, following the release of core PCE inflation data which indicated a slightly sharper than expected slowdown. However, this weakness in Dollar is somewhat counterbalanced by unexpectedly robust growth in consumer spending. Despite these movements, Dollar remains within its established trading range, with a decisive breakout yet to
People walk by sale signs in the Financial District on the first day back for the New York Stock Exchange (NYSE) since the Christmas holiday on December 26, 2023 in New York City. Spencer Platt | Getty Images An important inflation gauge released Friday showed that the rate of price increases cooled as 2023 came
In this article MC-FR Follow your favorite stocksCREATE FREE ACCOUNT Bernard Arnault, Chairman and CEO of LVMH Moet Hennessy Louis Vuitton, speaks during a press conference to present the 2023 annual results of LVMH in Paris, France, January 25, 2024. Benoit Tessier | Reuters LVMH shares jumped more than 8% on Friday morning, after the
Share: Canadian Dollar finds some room against the USD post-PCE print. Canada absent from the economic calendar until next Wednesday. Market focus to pivot toward upcoming Fed rate call. The Canadian Dollar (CAD) found some space on Friday, bolstered by climbing Crude Oil markets and clawing back some of the week’s losses. The US Dollar
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Share: Australian Dollar could gain ground on bullish momentum. Australia’s Dollar cheered the improved prices of copper and iron. US Dollar could extend its gains following the firmer-than-expected US GDP figures. US GDP Annualized (Q4) came in at 3.3% above the market consensus of 2.0%. The Australian Dollar (AUD) strives to build on its recent
The AUDUSD is mired in a narrow 70-pip trading range this week. The low was reached at the high of a swing area at 0.65504 (swing area down to 0.65417). The high reached up to the high of a swing area between 0.6612 to 0.66215. In between is the 200 day MA and the 50%
To be fair, Lagarde’s speech went about as one would thought it would have. She acknowledged better inflation developments while reaffirming a more data-dependent approach. While she did say that it is fairly premature to discuss rate cuts now, she did mention that one should not be “fixated on the calendar”. Adding to that, she
Gold prices edged higher on Friday, but were on track for their second consecutive weekly fall as data indicating strong growth in the U.S. economy kept the dollar firm, while focus shifted to a key inflation print due later in the day. FUNDAMENTALS * Spot gold was up 0.1% at $2,021.79 per ounce by 0155