Gold prices rose on Thursday, helped by a softer U.S. dollar and the Middle East conflict lifting safe-haven appeal, while investors await further comments from a Federal Reserve official to gauge the central bank‘s interest rate trajectory. Spot gold rose 0.5% to $2,015.79 per ounce by 1255 GMT, but was lingering near its five-week low
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The major US stock indices are mixed in early US trading. A snapshot of the market currently shows: Dow Industrial Average -83.40 points or -0.22% at 37185.50 S&P index up 20.63 points or 0.45% at 4760.50 NASDAQ index is leading the way with a gain of 155 points or 1.04% at 15008.10 The small-cap Russell
Dollar bounces in early US session, buoyed by unexpectedly low initial jobless claims data, which also lifts US 10-year yield. One of the key themes emerging this week is recalibration of market expectations regarding rate cut by Fed in March, with the probability now down to around 56%. Today’s job data is likely another factor
A networking and hiring event for professionals of color in Minneapolis, MN. Michael Siluk | Getty Images The labor market continued to show surprising resiliency in the early days of 2024, with initial jobless claims posting an unexpected drop last week. Initial filings for unemployment insurance totaled 187,000 for the week ended Jan. 13, the
Jakub Porzycki | Nurphoto | Getty Images The world’s largest contract chipmaker Taiwan Semiconductor Manufacturing Company on Thursday posted better-than-expected profit and revenue on the back of weaker macroeconomic conditions. Here are TSMC’s fourth-quarter results versus LSEG consensus estimates: Revenue: 625.53 billion New Taiwan dollars ($19.62 billion), vs. NT$618.31 billion expected Net income: NT$238.71 billion, vs. NT$225.22 billion
Share: AUD/JPY moves above a key level of 97.00 after the Australian economic data. Aussie Consumer Inflation Expectations and Unemployment Rate remained consistent at 4.5% and 3.9%, respectively. Japanese Yen faces challenges as BoJ is expected to maintain an ultra-dovish stance. AUD/JPY extends its gains for the second straight session, improving to near 97.10 during
Gold prices edged higher on Thursday, helped by a softer U.S. dollar and lower Treasury yields, but hovered near five-week lows as investors tempered rate-cut optimism after hawkish comments from central bank officials and robust data. FUNDAMENTALS * Spot gold rose 0.2% to $2,010.59 per ounce by 0121 GMT, a day after it fell to
The USDJPY has continued it trend like move the upside today. In the process the price cracked above the 100-day moving average and 61.8% retracement of the move down from the November high. That level came in at 147.45. The subsequent run to the upside after that break, so the pair move up to a
The continuing messages from Chinese authorities are of plans for no large scale stimulus, with overnight reports of: Chinese Premier Li Qiang gave his clearest signal yet that Beijing won’t resort to huge stimulus to revive growth amid the worst bout of deflation in decades Li was speaking to the World Economic Forum. This should
Prevailing mood of risk aversion was evident in Asian session today. Hong Kong stocks led the region lower, reflecting investors’ dissatisfaction with the latest batch of Chinese economic data. While China’s Q4 GDP growth wasn’t far off from analysts’ expectations, it still fell short for some, contributing to the market’s cautious stance. Additionally, concerns were
Federal Reserve Governor Christopher Waller acknowledged Tuesday that interest rate cuts are likely this year, but said the central bank can take its time relaxing monetary policy. The comments, delivered during a speech in Washington, D.C., seemed to counter market anticipation for aggressive easing this year. “As long as inflation doesn’t rebound and stay elevated,
Share: Christine Lagarde will participate in the World Economic Forum, in Davos. ECB President’s speech will be scrutinized for fresh insights on the economy and policy. European Central Bank held rates for the second straight meeting in December. European Central Bank (ECB) President Christine Lagarde speaks in her first of three stage appearances at the
Gold prices slipped on Wednesday in early trade amid gains in the dollar index. Taking cues from the international market, MCX February gold futures were trading lackluster. Gold futures were trading flat at around Rs 62,000 per 10 grams, though the bias was slightly negative. Meanwhile, the March Silver futures were trading at Rs 71,865
The dollar has moved higher after the US retail sales data came in stronger than expectations that has yields moving higher with the 2-year now up 10.7 basis points the 10-year is up 3.2 basis points. For the EURUSD the poster has remained below a swing year between 1.0878 and 1.0894, but it has support
The stocks are opening lower after better retail sales have pushed up yields, especially in the shorter end. The market seems to like lower yields vs. better growth. Fed’s Waller yesterday poured some cold water on rates moving lower sooner rather than later. The market is still focused on the idea that the Fed has
Sterling emerged as the star performer in today’s market, largely driven by surprising inflation data from the UK. CPI inflation in December showed an unexpected acceleration, with core CPI remaining at elevated level. This development led to a swift change in the market’s perspective concerning BoE’s policy, reducing the anticipated number rate cuts this year
Holiday shopping turned out even better than expected in December as shoppers picked up the pace to close out a strong 2023, the Commerce Department reported Wednesday. Retail sales increased 0.6% for the month, buoyed by a pickup in clothing and accessory stores as well as online nonstore businesses. The results were better than the