Oil prices fell by more than 1% on Monday on sharp price cuts by top exporter Saudi Arabia and a rise in OPEC output, offsetting worries about escalating geopolitical tension in the Middle East. Brent crude slipped 0.93%, or 73 cents, to $78.03 a barrel by 0753 GMT after falling more than 1% earlier in
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Australian Dollar trades broadly lower in today’s Asian session, influenced by notable decline in Hong Kong and Chinese stock markets as driven by selloff in technology stocks in these regions. Additionally, there is growing investor caution ahead of impending economic data from China, which is anticipated to highlight deepened deflation and challenges in the export
Share: The Federal Reserve (Fed) Bank of Dallas President Lorie Logan said on Saturday that the central bank may need to continue raising its short-term policy rate to keep a recent decline in long-term bond yields from rekindling inflation. Key quotes “Premature easing of financial conditions could allow demand to pick back up.” “If we
Like all the other major currency pairs, the USD moved higher vs the CHF soon after the US jobs reports, then reevaluated the data. The ISM services data pointed to a less positive jobs picture and growth prospects, and the price action in the USDCHF was back to the downside. On the move higher, the
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 were on track for their first weekly fall in four on Friday, as waning expectations of an early interest rate cut in the U.S. boosted the dollar, while investors focussed on a key employment report due later in the day for more rate clues. FUNDAMENTALS * Spot gold was up 0.1% at $2,054.10
A pedestrian holds an umbrella as they walk along a street in the rain in Times Square, New York, on Sept. 26, 2023. Ed Jones | AFP | Getty Images The state of the U.S. economy may be a chief concern among Americans, but 2023 wound up as a pretty good year for the macroenvironment.
Share: DXY Index retreats after the latest string of US data holds onto weekly gains United States NFPs from December were higher than expected, as well as Average Hourly Earnings, while the Unemployment Rate stood at 3.7%. The Services ISM PMI from the same month was disappointing. The US Dollar (USD), represented by the Dollar
The AUDUSD has reversed back higher with the overall USD selling after the weaker ISM services data and the ambiguous US jobs report. The move higher has now taken the price back above the close from yesterday at 0.6706. A close above would snap a 5-day losing streak in the pair which saw the price
UPCOMING EVENTS: Monday: Switzerland CPI and Retail Sales, Eurozone Retail Sales. Tuesday: Tokyo CPI, Australia Retail Sales, Switzerland Unemployment Rate, Eurozone Unemployment Rate, US NFIB Small Business Optimism Index. Wednesday: Japan Wages data, Australia Monthly CPI. Thursday: US CPI, US Jobless Claims. Friday: China CPI, UK GDP, US PPI. Monday The Switzerland CPI Y/Y is
Amid a slow start for gold in 2024, spotting trends and outlook for gold and silver prices will carry significant weight. One such opportunity has come in the form of recent corrections in bullion. Buy on dips The recent nuanced landscape in gold prices, marked by a drop from 64,000 to 61,000, unveils a compelling
The onset of 2024 marked a notable shift in global market sentiment. Major U.S. stock indexes ended their nine-week winning streak, closing lower, while major benchmark treasury yields experienced a notable recovery. Concurrently, this shift in market dynamics was accompanied by a scaling back of bets on an immediate rate cut by Fed. Amidst these
Hiring in the private sector rose at a faster-than-expected pace in December, closing out a strong 2023 for the resilient U.S. jobs market, ADP reported Thursday. Private payrolls increased by 164,000 for the month, a substantial rise from the downwardly revised 101,000 in November and better than the 130,000 estimate from the Dow Jones consensus,
In this video, I show you my BEST trading Strategy for forex trading and also how I plan to day trade in 2024. This is the 1st episode of Uncut Trading! Uncut Trading is a new series just like Unfiltered Trading where I share with you how I trade and my though process when I
Share: EUR/USD whipped in hectic Friday action following Eurozone inflation, US labor data. European inflation continues to hamper the ECB, while US jobs data beat the street. EUR/USD wraps up the week near 1.0940. The EUR/USD fell to a three-week low on Friday after European inflation rebounded higher in December, with the Eurozone Harmonized Index
The major stock indices are giving up their gains. Dow is now down -82 points or -0.22% at 37357. The high saw the indes up 183.27 points S&P is up 1.29 points or 0.03% at 4689.80. At session high, the index was up 32.80 points Nasdaq is up 13.6 points or 0.09% at 14524.44. At
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