Feb 4: Gold prices were steady on Friday, and set for a weekly gain as a weaker dollar, concerns over stubborn inflation and tensions surrounding Ukraine lifted demand for the safe-haven bullion. FUNDAMENTALS * Spot gold was at $1,806.86 per ounce, as of 0132 GMT. In the previous session, bullion touched $1804.4 as a weaker
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A Now Hiring sign hangs near the entrance to a Winn-Dixie Supermarket on September 21, 2021 in Hallandale, Florida. Joe Raedle | Getty Images The January jobs report showed some signs of optimism for the U.S. labor recovery, particularly for Black workers, who have been disproportionately impacted by the pandemic. U.S. payrolls added 467,000 jobs
In this article GM A General Motors sign is seen during an event on January 25, 2022 in Lansing, Michigan. – General Motors will create 4,000 new jobs and retaining 1,000, and significantly increasing battery cell and electric truck manufacturing capacity. Jeff Kowalsky | AFP | Getty Images General Motors is set to report its
Ether price (ETH) spent the last two months stuck in a rut and even the most bullish trader will admit that the possibility of trading above $4,400 in the next couple of months is dim. Of course, cryptocurrency traders are notoriously optimistic and it is not unusual for them to expect another $4,870 all-time high,
The commodity-linked New Zealand dollar ended Friday’s session with losses of 0.69%. The NZD/JPY retracement from weekly tops could lead to further losses below 76.00. The NZD/JPY slumps for the second time in the week as traders get headed into the weekend. As Wall Street closed and thin liquidity conditions hit the FX market, the
The price of WTI crude oil settled at $92.31. That is up $2.04 or 2.26%. The high reached $93.17 and the low was at $90.07. The high reached the highest level since September/October 2014. The price last week closed at $87.24. The close this week reached $92.31 for a gain of $5.07 on the week.
It was a week a surprises. While BoE delivered that a 25bps hike, four of the nine MPC members have indeed voted for a 50bps raise. However, there was no follow through buying as BoE indicated only “modest” tightening would follow. Also, the event was overshadowed by ECB’s unexpected hawkish turn. Then, after US ADP
EURUSD on the hourly chart The EURUSD moved lower after the US jobs report. The price extended back below its 100 day moving average at 1.14281 the low price reached 1.1411 before bouncing back higher over the last few hours (see hourly chart above). That rebound back to the upside has now moved the price
HOUSTON: Oil prices are increasing, again, casting a shadow over the economy, driving up inflation and eroding consumer confidence. Crude prices rose more than 15% in January alone, with the global benchmark price crossing $90 a barrel for the first time in more than seven years, as fears of a Russian invasion of Ukraine grew.
U.S. Treasury Secretary Janet Yellen (L) and Federal Reserve Board Chairman Jerome Powell (R) testify during a hearing before Senate Banking, Housing and Urban Affairs Committee on Capitol Hill November 30, 2021 in Washington, DC. Alex Wong | Getty Images When President Joe Biden nominated former Fed Chair Janet Yellen to run the Treasury Department,
In this article SPOT Shares of Spotify plunged 13% in after-hours trading Wednesday after the streamer reported fourth-quarter earnings. The numbers mostly beat expectations, but projections for user growth in Q1 were barely in line with analysts’ projections. There was also a broader selloff in tech shares after the bell, after Facebook (Meta) reported disappointing
In 2020, Wealthsimple dipped its toes into crypto by offering Bitcoin and Ethereum trading. Now, the online investment platform is fully embracing crypto by including capabilities like hosted wallets and several other coin options to trade. Of course, Wealthsimple isn’t the first financial services company to embrace crypto, signaling that digital currencies are becoming more
WTI hit fresh seven-year highs at $93.00/barrel in recent trade as the recent melt-up accelerated. WTI is on course to post a seventh successive weekly gain during which time it has rallied over 30%. Oil bulls put their foot on the accelerator on Friday, driving prices to fresh seven-year highs and leaving major crude benchmarks
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A stronger than expected US jobs report shocked the market. Nonfarm payroll jobs added 467K vs expectations of around 150K (and probably whispers of something less than that). The ADP employment change came in at -303,000 earlier this week, and Fed officials warned that the jobs report was likely to be weaker as well. That
Euro remains in the spotlight in Asian session, as post-ECB rally is extending. Dollar is particularly in pressure as markets are awaiting disappointment from non-farm payroll job data. Yen is currently the second weakest for the week, following the greenback. Aussie is the second strongest, next to Euro, followed by Kiwi. Focuses will turn to