Sterling climbed broadly today, fueled by unexpectedly strong UK retail sales data that more than compensated for the lackluster consumer confidence report. Despite ongoing high interest rates and persistent inflation, British consumers appear to be resilient, continuing to spend. This bolsters the position of hawkish members within the BoE’s MPC, who may push harder for
Earlier today, in the kickstart video, I outlined the following key support level for the EURUSD. That level was shown and outlined between 1.1131 and 1.11399. Here is that clip…. So what happened? Below is the chart of the price action today. Of not is the low price stalled between the level outlined in the
The economic data today was focusing Canada where retail sales rose by a higher-than-expected 0.9% but you should prices were lower than expectations. In the US, two-days after the FOMC rate decision to cut rates by 50 basis points, Feds Waller – normally a more hawkish member – spoke on CNBC. His comments were thought
Oil prices ticked lower on Friday but remained on track for a second consecutive week of gains, drawing support from a large cut in U.S. interest rates and declining U.S. stockpiles, Brent futures were down 34 cents, or 0.45%, at $74.54 a barrel at 12:10 p.m. EDT. U.S. WTI crude futures fell 1 cent, or
The US Dollar further consolidates on Friday after weakening further on Thursday. Traders have devalued the US Dollar a touch, amidst the Bank of Japan and Bank of England’s decisions to keep rates on hold. The US Dollar Index falls outside its tight bandwidth, a sign that could dive lower next week. The US Dollar (USD)
Global markets continues to a wave of risk-on sentiment today, with Japan’s Nikkei leading the charge in Asia. The index maintained its gains after BoJ decided to keep interest rates unchanged, a move that was widely anticipated. This positive momentum stems from the strong performance of US equities overnight, as DOW and S&P 500 closed
Fundamental Overview On Wednesday, the Fed finally started its easing cycle and decided to do it with a 50 bps cut. The market was already leaning towards a 50 bps move, so it wasn’t a surprise. The larger cut was framed as kind of an “insurance” cut with the dot plot showing two more 25
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Gold October futures contracts at MCX opened flat today at Rs 73,502 per 10 gram, which is up by 0.09% or Rs 64 while silver December futures contracts were also trading flat at Rs 90,055/kg, up by 0.1% or Rs 87. Gold prices have surged by Rs 450 per gram in the last 2 days
Commuters cycles past the Bank of England (BOE), left, in the City of London, UK, on Monday, Sept. 16, 2024. The central bank’s Monetary Policy Committee’s interest rate decision is scheduled for release on Sept. 19. Bloomberg | Bloomberg | Getty Images LONDON — The Bank of England on Thursday said it would hold interest
The Bank of Japan is anticipated to maintain its policy rate unchanged. Investors’ focus should remain on the bank’s rate path for the next few months. BoJ Governor Kazuo Ueda is seen sticking to the recent hawkish narrative. The Bank of Japan (BoJ) is expected to keep its short-term interest rate target between 0.15% and
Sterling surged notably today and reached its highest level against Dollar since March 2022. The move followed BoE’s decision to hold interest rates steady as expected. The surprise came from Deputy Governor Dave Ramsden, who chose not to vote for a rate cut. The overall tone from BoE suggests that while further rate cuts are
The GBPUSD experienced a volatile session today, similar to many other pairs. Following the Bank of England’s decision to keep interest rates unchanged, the price surged to a high of 1.33132. However, the momentum reversed after the US weekly jobless claims report came in better than expected, prompting a rotation lower. The price tested a
Markets: WTI up $1.10 to $72.01 S&P 500 up 1.7%, Nasdaq up 2.6% Gold up $30 to $2589 US 10-year yields up 3.2 bps to 3.72% AUD leads, JPY lags The Fed dust settled and it was a big change from 24 hours ago, when there was some angst about the somewhat surprising 50 basis
Oil prices fell in Asian trading on Thursday after a larger-than-expected Federal Reserve interest rate cut sparked concerns about the U.S. economy. Brent crude futures for November fell 34 cents, or 0.46%, to $73.31 a barrel by 0015 GMT, while WTI crude futures for October declined to $70.49 a barrel, down 42 cents or 0.59%.
Federal Reserve Chair Jerome Powell has unveiled his latest buzzword to describe monetary policy, with a “recalibration” of policy at a pivotal moment for the central bank. At his news conference following Wednesday’s open market committee meeting, Powell used variations of the word no fewer than eight times as he sought to explain why the
In this article DRI Follow your favorite stocksCREATE FREE ACCOUNT A sign hangs on the front of an Olive Garden restaurant on June 22, 2023 in Chicago, Illinois. Scott Olsen | Getty Images Darden Restaurants on Thursday reported weaker-than-expected quarterly earnings and revenue as sales weakened at Olive Garden and its fine dining restaurants. “While
Natural Gas undergoes technical rejection and sees rally fading. European Gas reserves are 93% full while the Russian transit deal ends. The US Dollar Index eases after the Fed delivers a 50 basis point rate cut with more to come. Natural Gas futures trade softer for a third day in a row on Thursday after