DXY Index is trading at 104.7, showcasing 0.35% losses but will close the week with mild gains. Durable Good orders from the US came in higher than expected but didn’t trigger movement from Greenback. Fed maintains cautious stance on premature easing, hinting at lower chances for swift interest rate cuts which cushions the USD. The
Crude oil futures trade between the 100 and 200 week MAs Crude oil futures are trading up around one dollar on the day at $77.85 (up 1.25%). The low price today extended down to $76.18. That was the lowest level going back to February 26. This week, the price is currently down $-1.62 or minus
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
Gold recorded its worst weekly slump this year in the week ending May 24 on hawkish FOMC minutes and robust US PMIs. Now, markets largely look for just one rate cut this year as traders readjust their rate expectations in the wake of the US data and the Fed’s stance. Spot gold closed with a
Last week, global financial markets were heavily influenced by evolving expectations surrounding central bank monetary easing paths and unexpected political developments. British Pound emerged as the most significant gainer, buoyed by fading expectations of an immediate BoE rate cut in June. This shift was precipitated by latest inflation data and compounded by the UK government’s
Traders work on the floor of the New York Stock Exchange during morning trading on May 24, 2024 in New York City. Michael M. Santiago | Getty Images Investors likely will have to sweat out a summer during which it looks increasingly improbable that the Federal Reserve will be cutting interest rates. A batch of
TJX Companies shares climbed to an all-time high Wednesday after reporting better-than-expected fiscal first-quarter results Wednesday. The report showcased the off-price retailer’s appeal to bargain-hunting shoppers and prompted us to boost our price target on the stock. Total revenue for the three months ended May 4 advanced 6% year over year, to $12.48 billion, exceeding
Gold climbs 0.23% on Friday but is set for weekly drop above 3%. US Durable Goods Orders exceed expectations, though March’s revised down data softened the impact. XAU/USD recovers on mixed US data that weighs on US Dollar. Traders now anticipate only 25 basis points of Fed rate cuts in 2024, reducing expectations for easing.
As the week moves to a close, the USDCHF is higher on the week, but did find willing sellers against a topside swing ceiling. That ceiling stalled near 0.9146-0.9156. The price has rotated lower. However, the close support at the 61.8% of the move down from the April/May 2024 high is stalling the decline today
The major US stock indices are all closing higher on the day, however with different variances. The Dow Industrial Average averages closing near unchanged at 39069.58 up 0.01%. The S&P index is closing up 36.86 points or 0.70% at 5304.71. A close short of its record close reached on Tuesday at 5321.42. The Nasdaq index
Spot gold tested a new lifetime high last week due to a combination of factors that have converged to propel the demand for the yellow metal. Multiple catalysts like US rate cut speculation, China’s economic stimulus, and renewed geopolitical tensions attributed to the rise in prices. Prices on the London spot market surged near to
In this article ELF Follow your favorite stocksCREATE FREE ACCOUNT E.l.f Beauty products. Courtesy: e.l.f Beauty E.l.f. Beauty posted its first billion-dollar fiscal year on Wednesday as sales spiked 77%, but the retailer’s shares fell as it said it expects its growth to slow. The eyes, lip, face company, known for its viral marketing and
Mexican Peso recovers slightly, breaking three-day losing streak. Mexico’s wider April trade deficit and slower economic growth are reported by INEGI. Banxico minutes show division on rate cuts amid ongoing inflation, emphasizing commitment to price stability. US Durable Goods Orders beat expectations, but March’s figures are revised down heavily. The Mexican Peso snapped three days
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 week comes to a close, the CAD is ending the day as the strongest of the major currencies. The CHF is the weakest. The USD is mostly lower with modest gains vs the JPY and CHF. The CAD moved higher despite lower than expected retail sales in March. However, the estimate for April
Oil prices crept higher on Friday, having been under pressure from lingering concerns that sticky inflation could prolong higher interest rates and curb fuel demand. The Brent crude July contract was up 41 cents to $81.77 a barrel by 1351 GMT. The more-active August contract was also up 41 cents at $81.52. U.S. West Texas
Euro rebounded notably today despite the absence of substantial news from Europe. Sterling followed suit, shrugging off poor UK retail sales data. Conversely, Dollar ignored upbeat durable goods data and weakened alongside Yen and Swiss Franc. Commodity currencies displayed mixed performance. It appears that traders are lightening up their positions ahead of the long weekend
People walk in the rain over the London Bridge in central London on March 12, 2024. Lucy North – Pa Images | Pa Images | Getty Images LONDON — U.K. retail sales volumes dropped 2.3% in April as wet weather deterred shoppers, the Office for National Statistics said Friday. Economists polled by Reuters expected a