While Dollar had a sharp decline following US consumer inflation data overnight, the selloff was short-lived. The greenback stabilized and recovered after FOMC projections indicated that only one rate cut is likely this year. Stock and bond markets showed little reaction to Fed’s announcement. Attention now turns to upcoming US PPI and jobless claims data
A measure of wholesale prices unexpectedly decreased in May, adding another piece of evidence that inflation is pulling back. The producer price index, a gauge of prices that producers get for their goods and services in the open market, declined 0.2% for the month, the Labor Department’s Bureau of Labor Statistics reported Thursday. That reversed
In this article ADBE Follow your favorite stocksCREATE FREE ACCOUNT Shantanu Narayen, CEO of Adobe being interviewed by Jim Cramer Linda Dimyan | CNBC Adobe shares jumped 15% in extended trading on Thursday after the design software maker reported earnings and revenue that topped estimates. Here’s how the company did in comparison with LSEG consensus:
Natural Gas falls lower with markets having difficulties digesting Fed’s communication. German utility company Uniper terminates Gas supply contracts with Russia’s Gazprom after a court ruling. The US Dollar Index trades sideways after a very volatile session on Wednesday. Natural Gas price (XNG/USD) sinks lower by more than 1%, turning red after a green bounce
The USDCAD has moved up and down since mid-April. Most of the trading has been between 1.36049 and 1.3803 (around 200 pips) in between 6100 and 200 bar moving averages on the 4-hour chart near 1.3685. Prior to the FOMC rate decision and after the US CPI data yesterday, the price move down to test
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
After hawkish comments from the US Fed chief Jerome Powell, gold prices on MCX for August futures contracts were down Rs 481 or 0.67% to trade at Rs 71,489 per 10 grams, while MCX July silver contracts dropped by nearly Rs 2,000 or 2.18% to Rs 88,469 per kg. Gold prices fell after three days
Trading activity slowed notably today as the markets turned relatively quiet. Dollar attempted a rebound from its losses earlier this week but struggled to gain momentum after worse-than-expected PPI and jobless claims data. Despite being one of the weaker performers this week, Dollar has managed to stay above last week’s lows against all major currencies.
Broadcom shares surged more than 14% in extended trading Wednesday after the chip and software maker delivered better-than-expected quarterly results, driven by strong artificial intelligence and VMware demand. Broadcom also raised its full-year outlook and announced a 10-for-1 stock split. Revenue in the Club name’s fiscal 2024 second quarter ended May 5 increased 43% year
WTI is undermined by a surprise build in US inventories and lower demand growth forecast by IEA. The Fed’s hawkish surprise lifts the USD and weighs on the dollar-denominated commodity. The lack of strong follow-through selling warrants caution before positioning for deeper losses. West Texas Intermediate (WTI) US crude Oil prices trade with a mild
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
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
Ahead of US CPI data, which is due later today, gold prices on MCX for August futures contracts opened flat at Rs 71,547 per 10 grams. Meanwhile, MCX July silver contracts have fallen by Rs 6,800 in June month so far and opened today at Rs 89,317 per kg. Gold was steady after a two-day
The forex markets are predominantly range-bound today as traders eagerly anticipate two pivotal events: US Consumer Price Index release and Federal Reserve’s economic projections. These announcements have the potential to trigger significant market volatility, given their implications for future monetary policy. While Euro struggles amid ongoing political turmoil in France, other major currencies remain steady
The consumer price index showed no increase in May as inflation slightly loosened its stubborn grip on the U.S. economy, the Labor Department reported Wednesday. The CPI, a broad inflation gauge that measures a basket of goods and services costs across the U.S. economy, held flat on the month though it increased 3.3% from a
In this article AVGO Follow your favorite stocksCREATE FREE ACCOUNT Igor Golovniov | Lightrocket | Getty Images Broadcom posted earnings for the second fiscal quarter on Wednesday that beat analysts’ estimates. It also announced a 10-for-1 stock split, set to begin trading on a split-adjusted basis on July 15. The stock rose about 10% in
The Federal Reserve is widely expected to hold policy rate unchanged. Fed Chairman Powell’s remarks could provide important clues about the timing of the policy pivot. Markets see a strong chance that the Fed will wait until September to lower the interest rate. The US Federal Reserve (Fed) will announce monetary policy decisions following the
The USD moved lower after the tamer than expected US CPI data. The Fed now has 2 successive months of easing inflation and that is despite a 0.4% rise in shelter (if only that cracked). The data helped to push stocks higher in pre-market trading (S&P, Nasdaq are trading a new all-time highs). Yields are