Traders walk the floor during morning trading at the New York Stock Exchange (NYSE) on May 14, 2024 in New York City. Spencer Platt | Getty Images GameStop, the video game retailer currently riding another wave of trading enthusiasm spurred on by the meme trader “Roaring Kitty,” showed no signs of an operational turnaround in
EUR/USD declines from 1.0900 as upbeat US NFP report for May boosts US Dollar’s appeal. The US NFP report suggests that labor market conditions have tightened further. The ECB commenced its policy easing campaign but refrained from committing to a predefined interest-rate path. EUR/USD witnesses an intense sell-off and drops to near 1.0820 in Friday’s New York session as the
The strongest to the weakest of the major currencies As the North American session begins, the JPY is the strongest and the NZD is the weakest of the major currencies the USD is in the middle little changed with gains vs the CHF, CAD, AUD and NZD and declines vs the EUR, GBP, and JPY.
US jobs report for May 2024 Prior month: 175K revised 165K Details of the May 2024 jobs report: non-farm payroll for May 272K vs 185K estimate. Two-month net revision -15K vs -22K prior Unemployment rate 4.0% vs 3.9% expected Prior unemployment rate 3.9% Participation rate 62.5 % vs 62.7% prior U6 underemployment rate and blood
Gold prices fell by Rs 1,200 per 10 gram on Friday reacting to sudden halt in gold buying by the Chinese central bank, which came on the back of spot gold prices hitting record highs that People’s Bank of China (PBOC) stopped gold purchases to its reserves in May. The move came after 18 months
Dollar rebounds broadly in early US session following stronger-than-expected employment data. Despite a slight uptick in unemployment rate, robust headline job growth and wage increases highlighted the US job market’s continued tightness. This suggests that Fed should remain cautious about premature policy easing. In reaction to the data, US futures tumbled significantly, pointing to a
Russian President Vladimir Putin is seen while visiting the Lakhta Center on June 5, 2024, in Saint Petersburg, Russia. Vladimir Putin visited a newly built Lakhta Center, a skyscraper of Gazprom, prior to his meetings at the Saint Petersburg International Economic Forum SPIEF 2024. Contributor | Getty Images News | Getty Images Russia’s annual economic
The Australian Dollar remains steady ahead of a speech from RBA Deputy Governor Andrew Hauser on the economic outlook. The Australian equity market appreciates with higher mining and energy stocks due to stronger commodity prices. China’s Trade Balance could slightly increase to $73.00 billion in May, from the previous balance of $72.35 billion. The US
Crude oil futures are settling at $75.55. That is up $1.48 or 2.0%. The high price today reached $75.79. The low price was at $74.06. The price bottom this week at $72.48 on Tuesday. For the trading week the price is still down -1.9% or $-1.46, but well off the low of $-4.51. Crude oil
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
Oil rose in early Asian trading on Thursday on rising expectations the Federal Reserve will cut interest rates in September, and as the market rebounded from a selloff related to growing U.S. inventories and an OPEC+ plan to increase supply. Brent crude futures rose 27 cents, or 0.34%, to $78.68 a barrel by 0103 GMT,
Following ECB’s decision to lower interest rates by 25 bps, a move that aligned with market expectations, Euro remained relatively steady within its near term trading range. ECB President Christine Lagarde, speaking at the post-meeting press conference, deliberately avoided providing explicit forward guidance, stating that ECB is not pre-committing to any particular rate path. Lagarde
Liu Jie/Xinhua via Getty Images Investors will be looking to May’s nonfarm payrolls report for more clarity on whether the Federal Reserve can ease up in its battle against inflation. Economists surveyed by Dow Jones expect the Bureau of Labor Statistics to report that the U.S. economy added 190,000 more jobs on the month, which
The US Dollar falls further after ECB’s hawkish rate cut. Markets also see weekly Jobless Claims tick up The US Dollar Index barely above 104.00 after paring gains on Wednesday. The US Dollar (USD) edges lower on Thursday as markets see the the European Central Bank (ECB) issuing a policy rate cut by 25 basis points, though
The ECB cut rates but does not commit to a path of future rate moves: ECBs expects growth to pick up to 0.9% in 2024 vs 0.7% prev. Inflation forecast 2.5% in 2024 (vs 2.3% prev), 2.2% in 2025 (versus 2.1% prev) and 1.9% in 2026 (vs 1.9% prev). Growth forecast 1.4% in 2025 vs
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
As the bullion displayed volatility over the last few days, the August futures of the yellow metal opened 0.55% or Rs 396 higher at Rs 72,914 per 10 grams, while silver July futures opened at Rs 91,550/kg, 1.22% or Rs 1,106 higher. Gold and silver recovered from their lows amid interest rate cuts by the
Canadian Dollar remains the weakest performer for the week at this point. Yet, losses is so far contained, with the recovery after the brief selloff following BoC’s rate cut overnight. While further cuts are anticipated within the year, the likelihood of another immediate adjustment in July is currently seen as unlikely , with market odds