Gold prices fell on Monday as traders awaited more U.S. economic data this week after recent data showed that inflation stabilised and lifted hopes for the Federal Reserve to cut interest rates later this year. The August gold futures were trading at Rs 71,295 per 10 grams on the MCX at 12.08 pm and were
Global markets started the week on a positive note, drawing momentum from the robust close last week in the US and buoyed further by slightly better than expected manufacturing data out of China. In Tokyo, stocks received additional support from comments by BoJ Executive Director Takashi Kato, who indicated that the central bank has no
A Monzo debit card being used at a payment terminal. Monzo Monzo, the British digital challenger bank, on Monday reported its first full year of profitability. The fintech startup said in annual financial results that its pre-tax profits totaled £15.4 million ($19.6 million) in its 2023-2024 fiscal year, swinging to the black from a £116.3
China’s Caixin S&P Global Manufacturing Purchasing Managers’ Index (PMI) rose from 51.4 in April to 51.7 in May, according to the latest data released on Monday. The reading beat the market consensus of 51.5 in the reported month. Key highlights (via Caixin) Production expands at most pronounced pace since June 2022. Fastest purchasing activity growth in
The USDCAD traded lower despite the we can expected GDP data today, but in the process is tested a swing area support between 1.36049 and 1.36154. Support buyers came in against the level and pushed the price back to the upside. On the top side, the 100-bar moving average on the 4-hour chart at 1.3658
Japanese business capital expenditure for the January – March quarter of 2024: +6.8% y/y expected +12.2%, prior +16.4% -4.2% q/q Company Profits +15.1% y/y, a massive beat (don’t listen to all the whining out of Japan Inc, they’re minting it. expected +8.3%, prior +13.0% Company Sales +2.3% y/y expected +2.4%, prior +4.2% Speaking of Japan,
Oil prices were down on Thursday as the markets wait on the latest U.S. crude oil stockpiles data while resilient U.S. economic activity pointed to borrowing costs staying higher for longer in a potential blow to demand. Brent futures lost 9 cents, or 0.1%, to trade at $83.52 a barrel, while U.S. West Texas Intermediate
Saudi energy minister Abdulaziz bin Salman on Oct. 5, 2022. Bloomberg | Bloomberg | Getty Images The prominent OPEC+ oil producers’ alliance is awaiting concrete central bank action on interest rates before factoring in the potential impact on the energy demand landscape, according to Saudi Arabia’s energy minister. “Central banks, with all respect, they’re flip-flopping
Shares of Best Buy were popping Thursday as management made their case that an artificial intelligence upgrade cycle for personal computers and devices was starting to play out. Revenu e in the company’s fiscal 2025 first quarter fell 6.5% year over year to $8.85 billion in the three months ended May 4, missing the $8.96
Broad-market risk appetite recovers on Friday as US PCE inflation eases. Canada saw a weaker-than-expected rebound in GDP. US PCE inflation cooled further, fueling rate cut hopes. The Canadian Dollar (CAD) is broadly higher on Friday, but gains are capped after softer-than-expected prints in Canadian economic data. Investor hopes for a September rate cut are
The EURUSD yesterday moved higher until it reached its 100 and 200-hour moving averages. Sellers leaned against that level and push the price down into the Asian session where support buyers came in against its 100 day moving average (blue line at 1.08074).The price then started a move to the upside breaking back above the
UPCOMING EVENTS: Monday: China Caixin Manufacturing PMI, Swiss Manufacturing PMI, Canada Manufacturing PMI, US ISM Manufacturing PMI. Tuesday: Swiss CPI, US Job Openings. Wednesday: Japan Average Cash Earnings, Australia GDP, China Caixin Services PMI, Eurozone PPI, US ADP, Canada Services PMI, BoC Policy Decision, US ISM Services PMI. Thursday: Swiss Unemployment Rate, Eurozone Retail Sales,
Gold prices were flat on Thursday, as investors awaited a key U.S. inflation reading that could provide further insights into the Federal Reserve‘s policy path. FUNDAMENTALS * Spot gold was unchanged at $2,338.04 per ounce, as of 0125 GMT, after falling 1% in the previous session. * U.S. gold futures were down 0.2% at $2,358.30.
In this article GPS Follow your favorite stocksCREATE FREE ACCOUNT A Gap store in New York, US, on Monday, May 27, 2024. Gap Inc. is scheduled to release earnings figures on May 30. Bloomberg | Bloomberg | Getty Images Gap posted positive comparable sales at all four of its brands on Thursday, leading the apparel
The daily RSI is pointing upwards, hovering around 70, but continuing red bars in the MACD show a trailing consolidation. On the hourly chart, indicators are neutral and reside in the positive terrain. The 20-day SMA at 169.00 serves as an important threshold for sellers. On Friday’s trading session, despite recent downside corrections, the EUR/JPY
S&P tests dual support level The US stocks continued their decline with the S&P index now down -33.74 points at 5201.92. The low price extended to 5191.68, and in the process tested key support defined by its 200-hour moving average at 5191.63 currently (green line on the chart below) and the 38.2% retracement of the
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Spot gold traded in a narrow range of 2% in the week ending May 31 as the metal, in line with the other commodities, has been adjusting to the dwindling odds of multiple rate cuts this year on stubborn inflation data. The ten-year US bond yields rose beyond the crucial level of 4.50% to hit