Initial Jobless Claims in the US declined by 10,000 in the week ending January 4. US Dollar Index clings to daily gains above 109.00 after the data. There were 201,000 initial jobless claims in the week ending January 4, the weekly data published by the US Department of Labor (DOL) showed on Wednesday. This print
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Dollar regained some traction overnight, supported by strong services sector data that bolstered expectations for Fed to hold interest rates steady this month. Fed fund futures now imply a 95% probability of no rate cut in January, up from 90% last week. The upbeat economic performance placed moderate downward pressure on both equities and bonds,
Fundamental Overview The USD got a boost yesterday from another set of hot data as the US Job Openings surprised to the upside and the prices paid index in the ISM Services PMI jumped to the highest level since 2023. The market’s pricing didn’t change much but traders no longer fully price in the next
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Gold February futures contracts at MCX opened flat with a negative bias today at Rs 77,440 per 10 gram, which is down by 0.12% or Rs 91 while silver March futures contracts were trading at Rs 90,840/kg, down by 0.04% or Rs 33. Gold prices have broadly traded flat in this week so far, having
WTI price gains traction to near $74.15 in Wednesday’s Asian session. US crude oil inventories fell by 4.022 million barrels last week, according to the API. Oil traders brace for the FOMC Minutes on Wednesday ahead of the US December NFP report. West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $74.15
Swiss Franc weakened across the board today after inflation data revealed a reversal in annual CPI back 0.6% in December. This marks the fourth consecutive month of deflationary pressure, as monthly CPI continues to slide. With inflation well below 1% for the past four months, concerns over a return to deflation have grown, intensifying expectations
A person shops at a Whole Foods Market grocery store on December 17, 2024 in New York City. Spencer Platt | Getty Images Activity in the U.S. services industry accelerated in December but brought with it a sharp rise in expectations for price increases as businesses grew concerned about the impact tariffs would have on
The AUD/USD has reached a new low, testing the 200-hour moving average at 0.6225 and the 100-hour moving average at 0.6227. These levels are pivotal for determining the near-term direction for both buyers and sellers. If buyers defend this area, it would signal continued support, keeping them in the game. However, a sustained move below
UBS says its maintaining its recommendation to capitalize on any further strength in the US dollar by selling it. Analysts cite recent shifts in expectations around Federal Reserve and US government policies have bolstered the USD since the release of their “Year Ahead 2025” report. However, they believe the dollar remains overvalued. Adding they don’t
Gold prices held its ground on Tuesday, with investors awaiting more economic data later this week for cues on the Federal Reserve’s interest rate trajectory for this year. FUNDAMENTALS * Spot gold was steady at $2,636.05 per ounce, as of 0106 GMT. U.S. gold futures remained unchanged at $2,647.30. * Investors are now looking to
The Brent oil price fell by around 3% last year, Commerzbank’s commodity analyst Carsten Fritsch notes. OPEC oil production falls by 120k bpd in December “The year-end level of less than $75 per barrel was the lowest in four years. Since the beginning of the new year, the price has risen noticeably and yesterday reached
Dollar remains under some pressure as markets digest conflicting signals about the trade policy direction of the incoming Trump administration. President-elect Donald Trump dismissed media reports suggesting a sector-specific tariff plan as “fake news” but provided no further clarification. The lack of concrete details leaves markets grappling with uncertainty, unable to assess the economic impact
A man rides bicycle on a snow-covered street after snowfall in Frankfurt am Main, western Germany, on December 29, 2024. Kirill Kudryavtsev | Afp | Getty Images Annual inflation in the euro zone rose for a third straight month to reach 2.4% in December, statistics agency Eurostat said Tuesday. The reading was in line with
Fundamental Overview The USD continues to remain supported since the last FOMC decision as the market perceived it as more hawkish than expected. After the rally during the low volume Christmas holidays, we are now seeing a pullback pretty much across the board. The market’s pricing didn’t change much with roughly two rate cuts priced
Prior 1.3% HICP 1.4% vs 1.6% y/y expected Prior 1.5% Core CPI Y/Y 1.8% vs. 1.9% prior Core inflation (excluding energy and unprocessed food) was +1.8% (from +1.9% in the previous month) and inflation excluding energy was +1.7% (from +2.0% in November). In 2024, the average annual rate of change of consumer prices, measured by
Gold February futures contracts at MCX opened flat today at Rs 77,249 per 10 gram, which is up by 0.12% or Rs 91 while silver March futures contracts were trading at Rs 90,575/kg, up by 0.02% or Rs 21. Gold prices went up by Rs 350/ 10 grams in the last one week while silver
USD/CAD rebounds to near 1.4345 in Tuesday’s early Asian session. Trump said the Washington Post story that he would pare back his tariff policy was wrong. Trudeau is expected to announce stepping down as party leader before the national caucus meeting Wednesday. The USD/CAD pair recovers some lost ground to around 1.4345 during the early
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