Gold bounces off the ascending channel’s lower boundary support as a bullish impulse emerges. The MACD reinforces XAU/USD’s uptrend on the daily chart. The bearish leg may continue toward $1,650 if the channel’s middle boundary support fails to hold. Gold has continued to drop from January highs around $1,950 amid a stronger US dollar. The
Nasdaq lags once again. Russell 2000 also closes at a record The Dow and the S&P closed at another record high. Dow has its best week since November Nasdaq index lags once again as the rotation into the major cyclicals continues The Russell 2000 also closed at a record level today The final numbers are showing: S&P index, +3.99 points
Forex news for North American trade on March 12, 2021: Markets: Gold flat at $1721 S&P 500 flat at 3940 US 10-year yields up 9 bps to 1.63% WTI crude down 42-cents to $65.61 CAD leads, NZD lags The rise in Treasury yields had markets off balance coming into the day but this time was
India’s palm oil imports fell 27% in February from a year earlier to their lowest in nine months, a leading trade body said on Friday, reflecting a slowdown in domestic demand. India imported 394,495 tonnes of palm oil, down from 540,470 tonnes a year earlier, the Solvent Extractors’ Association of India (SEA) said in a
Euro softens mildly after ECB announced to speed up PEPP purchases in the next quarter. But loss is relatively limited as the overall envelop was kept unchanged. Dollar and Yen are currently the worst performing one for today, on the back of risk-on sentiments. Commodity currencies are currently the stronger ones, as led by Aussie.
Sarah Whitten A global pandemic didn’t stop ardent Funko collectors from stocking up on miniature models of their favorite pop culture characters. The company beat on the top and bottom lines when it reported fourth-quarter earnings after on Thursday, sending shares up 10% after hours. Here’s how the company did for the fourth quarter, compared
US equities struggled to follow Thursday’s records with mixed indices. Nasdaq down nearly 1%, Dow sets another record up 0.9% and S&P up 0.1%. Inflation ticks back into consciousness, PPI rises and 10 Year pops to 1.63%. Major US indices struggled to eke out gains on Friday to end the week on a positive note. The week
Bitcoin (BTC) missed hitting a new all-time high on March 11 by just a whisker as Oracle Corporation denied rumors that it had purchased about 72,000 Bitcoin. This suggests that traders could be looking for signs of greater institutional adoption to boost Bitcoin’s price further. One of the main factors that may have kept several
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Gold down $2 to $1719 Gold fell as low as $1699 but has rebounded to virtually unchanged on the day in a solid show of resilience that’s been aided by USD softness. Earlier this week, Doubleline Capital CEO Jeff Gundlach called a bottom for gold. It’s premature to judge it but there are some solid
Reuters report, citing a document Italy is in another lockdown and case are rising in much of the continent as the vaccine rollout lags. Even without all that, those economies would need more fiscal support. Europe is starting to fall way behind the US and it’s not a good look. Here was a line from
Low domestic prices raked in demand for physical gold in some Asian hubs this week, with fresh retail interest also allowing dealers to charge higher premiums in India. Local gold futures in India traded around Rs 44,400 per 10 grams on Friday, near a one-year low of Rs 44,150 they touched earlier in the week.
Dollar rebounds broadly again today as markets are unsettled by renewed strength in treasury yield. At the time of writing, US 10-year yield is back pressing 1.6 handle. DOW future is trading mildly higher, but NASDAQ futures is down -1.3%. Though, Canadian Dollar is even stronger as lifted by much stronger than expected employment data.
Ulta Beauty said Thursday that fourth-quarter sales and profit fell from the prior year, hurt by weaker sales of cosmetics during the pandemic. Although the decline was smaller than expected, shares fell as the beauty retailer gave a disappointing outlook for the coming year. Ulta shares fell more than 8% after the bell. The company
Gold has bounced firmly from the $1700 level and are back to flat as the USD pulls back from highs. The precious metal has mostly traded as a function of USD and higher yields has not hurt it too much. Spot gold prices have bounced pretty firmly from the $1700 level and are now trading
The greenback climbs to the highs for the day now The relief in Treasuries this week is starting to dissipate, as 10-year yields are now up over 4 bps on the day to 1.579%. The low yesterday was seen at 1.475%. The dollar is picking up some bids across the board now as it rises
The Nikkei puts up its best daily performance since 1 March The boost in the Nikkei comes as Japan Post plans to take a 8.3% stake in Rakuten, bolstering the latter’s shares by 11% on the announcement earlier today. That is helping to offset the murmurs that the BOJ may not step in as often