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The broader S&P and NASDAQ index snapped 4-day winning streaks, while the Dow industrial average extended its streak to 5 days. UnitedHealth soared by 7.27% today and was responsible for over 200 points of the Dow’s gains today. The Dow closed up $113.89 points. A snapshot of the market shows Dow industrial average rose 113.89

Bullion traded with a positive bias in Friday’s early trade aided by the weakness in the US Dollar Index (DXY) which is on a slippery turf. The DXY has slipped below the 100 mark against a basket of 6 major currencies. A lower headline inflation numbers in the US weakened the greenback and lifted the

Today, the US Dollar rallied, stimulated by rising preliminary inflation expectations from the University of Michigan’s monthly consumer survey and overall stronger data. The bond yields also recorded a sharp incline. The inflation reading depicted a minor increment, moving from 3.3% to 3.4%. Given a market that has reacted positively to the favorable CPI and

Global benchmark Brent crude hovered above $81 a barrel on Friday, with bullish sentiment over U.S. demand bolstered by supply disruption in Libya and Nigeria. Both the Brent and U.S. West Texas Intermediate (WTI) contracts had risen for three straight sessions and in early Asian trade on Friday, poised to register a third straight week

Import prices year on year US import prices for June -0.2% versus -0.1%. Prior month -0.4% versus -0.6% previously reported US export prices for June -0.9% versus -0.2%. Prior month -1.9% U.S. import prices have declined in 5 out of the first 6 months of 2023, following a 3.2% increase in 2022. Over the past

Dollar is still facing much broad-based pressure as risk-on sentiment continues to dominate the markets. A slight recovery could be on the cards due to pre-weekend profit-taking, although this largely hinges on the inflation expectation figures in the forthcoming University of Michigan Consumer Sentiment report. Should the inflation expectations display a substantial decrease, this could

Gold prices on Friday were set for their biggest weekly gain since April, as the U.S. dollar hovered close to a more than one-year low on bets the Federal Reserve will soon hit the brakes on interest rate hikes. Spot gold was steady at $1,958.45 per ounce by 0051 GMT, and up 1.8% for the

The Advance, or preliminary, reading for economic growth in Singapore for the April to June quarter of 2023 +0.3% q/q expected 0.3%, prior -1.6% +0.7% y/y expected 0.6%, prior 0.4% The +0.3% q/q has meant Singapore does not drop into recession (2 consecutive quarters of negative q/q GDP). Singapore’s government projects GDP growth of 0.5%

Dollar’s extended selloff continues today, showing no clear signs of a turnaround. The slump comes on the back of the release of PPI and jobless claims data, which failed to inspire optimism among Dollar bulls. Meanwhile, global risk-on sentiment is prevailing, with noticeable rally in stock markets and corresponding dip in treasury yields. Japanese Yen

Gold futures traded with a positive bias in Thursday’s early trade aided by weakness in the Dollar Index (DXY) which slipped below the 101 mark. Cooling US inflation numbers in the US weakened the greenback and lifted the yellow metal. The DXY was trading at 100.47, losing nearly 3% over the past five trading sessions.

Dollar technicals: Headlines: Markets: AUD leads, JPY lags on the day European equities higher; S&P 500 futures up 0.3% US 10-year yields down 3.7 bps to 3.824% Gold up 0.1% to $1,959.73 WTI crude up 0.2% to $75.86 Bitcoin up 0.7% to $30,558 We are getting a continuation of the dollar slide from yesterday, as

Following a significant post-CPI sell-off, Dollar’s plunge appears to be losing some momentum during today’s Asian trading session on oversold conditions. However, the greenback is yet to demonstrate any considerable signs of a rebound. Investors seem buoyed by the waning likelihood of Fed extending its tightening phase beyond the imminent July interest rate hike. As

diamonds, there is a growing whisper among traders in Surat that one of the oldest makers of lab-grown stones has defaulted. The deal that the firm had cut with many wealthy individuals, including professionals, real estate players, and a few farmers in the region to raise money has backfired amid a fall in the price

The Group of Seven last year set a US$60 price cap on Russian oil in an attempt to restrict revenue to Moscow’s warmongering. According to Argus Media (price monitoring agency) reports Russian Urals crude topped $60 a barrel on Wednesday. Urals prices rose to $60.78 a barrel at the Black Sea port of Novorossiysk on

Dollar’s decline accelerates again following US inflation data that reflected a more substantial than anticipated slowing in both core and headline CPI for June. Although the underwhelming data might not deter Fed from delivering another rate hike later this month, it may alleviate pressure for subsequent increases. In response to the data, US stock futures

Oil prices were little changed on Wednesday in a market caught between expectations supply cuts by the world’s biggest fuel exporters will drive prices higher and concerns global economic weakness will sap demand. Brent futures had edged up 20 cents to $79.60 a barrel by 1145 GMT, while U.S. West Texas Intermediate (WTI) crude rose

Headlines: Markets: JPY leads, GBP lags on the day European equities higher; S&P 500 futures up 0.3% US 10-year yields down 3.8 bps to 3.944% Gold up 0.2% to $1,935.18 WTI crude up 0.3% to $75.04 Bitcoin up 0.5% to $30,726 It was a quieter session in Europe today as all the focus in markets

Dollar is facing an intensified selloff in today’s Asian trading session, with the currency’s decline appearing to accelerate. The return of risk-on sentiment, signaled by overnight gains in major US stock indexes, has added additional weight on the greenback. Market watchers are eagerly anticipating the release of US CPI data today, as they seek further