Spot gold prices (XAU/USD) have spent the majority of Wednesday’s session on the back foot. Strength in USD and stock markets have weighed on the precious metals. But bond mark signals are more bullish; inflation expectations have been rallying. Spot gold prices (XAU/USD) have spent the majority of Wednesday’s session on the back foot and
Modest bounce off key support. The EURUSD tried but couldn’t get below the old swing highs going back to September 1, 2020 and November 30, 2020 between 1.20027 and 1.2010. The low price extended to 1.20035 and has seeing a modest bounce into the NY afternoon session. The price has move toward the topside downward sloping trendline. That trend line currently comes
Here comes the SEC The SEC is taking a larger look at the GameStop and meme stock mania last week and looking for fraud in social media posts that drove the price up, according to Bloomberg. Of course, the SEC is known for taking a hard line with people who use social media for fraud:
On Feb. 5, a total of $1 billion in Bitcoin (BTC) options open interest is set to expire. This number is small relative to the past month’s $4 billion options expiry, but monthly and quarterly options typically concentrate the most volume. Friday’s expiry is somewhat unusual although it is balanced at the current BTC levels.
Silver rose more than 2% on Wednesday on bets for a pick-up in industrial demand, regaining some ground following a sharp retreat from a near eight-year peak scaled with the help of a social media-inspired buying frenzy. Spot silver was up 1% at $26.87 per ounce at 11:02 a.m. EST (1602 GMT). It fell more
Economic data released today are largely ignored so far. Euro’s weakness continues despite stronger than expected inflation reading. Swiss Franc and Sterling are also softening slightly. Dollar, on the other hand, struggles to extend gain after much stronger than expected ADP employment. New Zealand Dollar continues to trade as the strongest one, taking the Aussie
A month after reporting the first loss since April, the employment picture bounced back in January as companies added 174,000 new jobs, according to a report Wednesday from payroll processing firm ADP. The gain beat the 50,000 estimate from economists surveyed by Dow Jones and improved on the 78,000 December decline, a number that was
Alphabet CFO Ruth Porat FABRICE COFFRINI | AFP | Getty Images Alphabet, the parent company of Google, will report fourth quarter earnings after the bell on Tuesday. Investors will be looking for strong advertising growth after a blowout quarter in Q3, where chief financial officer Ruth Porat said user behavior to various Google properties were
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With daily turnover at about $5-trillion, trading in the FX market towers above bond and equity markets. This video explains what foreign exchange is all about, why it exists and why it is so important. You will learn about some of the factors that impact the relative value of currencies as well as the products
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GME shares collapsed below $80 but rally to over $140. Robinhood raises limit on purchases to 100 shares. Mark Cuban on CNBC discusses Gamestop. Update Wednesday February 3: The shares in Gamestop (GME) stalled their brief recovery stint into Tuesday’s closing, as the stocks suffered a 60% decline on a daily basis. The shares of the
S&P post the best day to day performance since November The major indices closed higher for the 2nd consecutive day with solid gains across the board ahead of earnings from Amazon and Google after the close. The final numbers are showing: S&P index +52.37 points or 1.39% at 3826.24 NASDAQ index up 209.38 points or
The positive tones spill over to Europe in early trades German DAX futures +0.5% UK FTSE futures +0.3% Spanish IBEX futures +0.7% This mirrors the positive mood in US futures, with S&P 500 futures seen up 0.4% and Nasdaq futures up 0.7% as the market exudes more calm on the week so far. In the
NEW DELHI: Gold futures prices rose while silver also rebounded tracking the trend in the international market. However, gains in gold were limited and analysts expect sideways movement for now. Silver prices rocketed as retail investors, egged on by messages on Reddit, piled into the market in an attempt to push up prices. The retail
Canadian and New Zealand Dollar are both in the driving seats in the markets this week. Return of risk appetite is providing the base for rally. Meanwhile, Kiwi is lifted by stronger than expected job data while Loonie follows oil prices higher. Aussie is lagging behind on RBA, however. Euro and Swiss Franc continue to
Atlanta Federal Reserve President Raphael Bostic said Monday that he’s not worried about the U.S. economy overheating, though he does think growth could happen faster than many expect. In an estimate well ahead of most of his colleagues, Bostic, a voting member of the policymaking Federal Open Market Committee, recently drew attention for saying that
Saul Loeb | AFP | Getty Images Amazon is set to announce its fourth-quarter earnings after the bell on Tuesday. Here’s what Wall Street is expecting: Earnings: $7.23 per share forecast by Refinitiv Revenue: $119.7 billion forecast by Refinitiv If Amazon meets analysts’ expectations, it will be the first time the company books $100 billion in revenue