News

On Tuesday at 1230 GMT, which is 0830 US Eastern time, we get retail sales for May 2024. Consensus expectations are in the table below. This snapshot is from the ForexLive economic data calendar, access it here. As for the ranges. For Retail sales m/m: While I’m at it, Industrial production will also be a

The dollar drifted lower on Tuesday, extending the previous day’s losses against the euro and sterling, as market jitters over the risks of a far-right French government receded. The U.S. currency failed to get a lift from a rise in Treasury yields overnight, with investors awaiting a key retail sales report and comments from Federal

The forex markets are pretty steady in Asian session today, with Euro stabilizing from its previous sharp sell-off. Meanwhile, Dollar and Yen are posting modest gains. In contrast, commodity currencies showed less resilience, and Swiss Franc surrendered some of its recent strong gains. British Pound demonstrated mixed performance. A noticeable characteristic of today’s market is

EUR/USD daily Goldman Sachs maintains its EUR/USD forecast at 1.05 for the next 3 to 6 months. The outlook is influenced by potential political uncertainties and the resulting policy divergence, which could weaken the Euro. Key Points: Political Uncertainty Impact: Euro Weakening: Political uncertainty, especially around elections, may erode progress in economic indicators, inviting further

Copper prices slid on Monday after data showed that top consumer China’s industrial output was weaker than expected in May, while a firmer U.S. dollar also weighed on the metal. Three-month copper on the London Metal Exchange was down 1.1% at $9,637 per metric ton as of 0811 GMT, after closing flat last week. The

Australian Dollar declines broadly today, as markets brace for the upcoming RBA rate decision. With the cash rate expected to hold steady at 4.35%, speculation is rife about RBA’s future monetary policy direction. Although the central bank maintains an open stance on rate adjustments, indicating that hikes are still possible, market consensus suggests that further

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

Demand for gold in Asia is surging despite prices hovering near the record highs it hit in May, industry officials say, as buyers snap up the metal to hedge against geopolitical and economic uncertainty. Spot gold is trading a little over $2,300 per ounce, up about 12% year-to-date and only about 6% shy of the

UPCOMING EVENTS: Monday: PBoC MLF, New Zealand Services PMI, China Industrial Production and Retail Sales, Eurozone Wage Growth. Tuesday: RBA Policy Decision, Eurozone ZEW, US Retail Sales, US Industrial Production. Wednesday: UK CPI, US NAHB Housing Market Index, BoC Meeting Minutes. Thursday: New Zealand GDP, PBoC LPR, SNB Policy Decision, BoE Policy Decision, US Housing

Spot gold at $2,334 was up nearly 1.29% on Friday at the time of the MCX closing. Gold rallied as the US bonds extended their ongoing rally despite hawkish Federal Reserve on soft inflation data and ongoing political turmoil in Europe. Investors are concerned that a political crisis is brewing in France in the wake

The NASDAQ index closed at a new record on Monday at 17192.53. It did the same on Tuesday, Wednesday, Thursday and again today to extend the streak of consecutive high close levels to five trading days. The S&P was on a similar move this week, but close marginally lower today snapping it 4-day record close

Oil prices fell in early trade on Wednesday as investors digested news that the U.S. Federal Reserve has opted against cutting interest rates in the near future, while ample U.S. crude and fuel stocks further weighed on the market. Brent crude futures lost 14 cents, or 0.17%, to $82.46 a barrel at 0039 GMT, and

“Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the Government for a redress of grievances.” That’s the first amendment and may prove to be what

Gold prices pared gains on Wednesday after the U.S. Federal Reserve said it sees only one interest rate cut this year, citing still elevated levels of inflation. Spot gold climbed 0.3% to $2,322.46 per ounce by 3:18 p.m. ET (1918 GMT), after rising as much as 1% earlier in the day, supported by a surprisingly

Global financial markets were abuzz with several high-profile events last week, including critical meetings of Fed and BoJ, alongside release of US inflation data. However, it was the escalating political turmoil in France that captured the most attention, significantly impacting Euro and overshadowing other major economic news. The common currency emerged as the week’s weakest

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 trimmed losses on Thursday after weaker-than-expected U.S. producer inflation data raised hopes for two rate cuts in 2024, even as the Federal Reserve’s projections called for just one cut this year. Spot gold was down 0.5% at $2,310.89 per ounce, as of 1510 GMT. Prices fell as low as $2303.84 before the data

The Japanese Yen has taken a significant hit today, losing ground against all major currencies after BoJ refrained from detailing an immediate plan to taper its bond purchases. In the lead-up to the announcement, expectations were high among traders and investors that BoJ would begin tapering soon, fueled by multiple media reports. However, the central