Share: Gold price attracts buyers on Wednesday and recovers further from the weekly low. Softer US bond yields keep the USD bulls on the defensive and lend some support. Recession fears and geopolitical risks further seem to benefit the safe-haven metal. Gold price (XAU/USD) builds on the overnight bounce from the $1,954-1,953 region and gains
Lawyers representing Binance and CEO Changpeng “CZ” Zhao have filed statements in support of a motion to dismiss a lawsuit filed by the United States Commodity Futures Trading Commission (CFTC) in March. In an Oct. 23 filing in U.S. District Court for the Northern District of Illinois, CZ’s and Binance’s attorneys made several legal claims
Alphabet, the parent company of Google, is set to release its third-quarter earnings. Analysts expect Earnings of $1.45 per share Revenue of $75.97 billion. The revenue estimates mark a return to double-digit revenue growth after four quarters of single-digit expansion. Google’s core advertising had weakened due to economic softening and increased competition from TikTok. During
Bitcoin has fallen $1000 in the past few minutes, wiping out a portion of today’s huge gains. The reason appears to be that the ticker IBTC appears to have disappeared from a list of ETFs on the DTCC website. When Blackrock’s bitcoin spot ETF first appeared on the site yesterday, it was seen as a
Gold prices rebounded on Tuesday as benchmark U.S. Treasury yields pulled back, while investors awaited economic data for guidance on interest rates and monitored growing tensions in the Middle East. Spot gold was up 0.2% at $1,976.99 per ounce by 0349 GMT, while U.S. gold futures was steady at $1,988.10. Benchmark 10-year U.S. Treasury yield
Euro’s forward drive this week faced a halt as subpar PMI readings painted a concerning picture for the Eurozone economy. The data fuels concerns that the Eurozone economy might be heading into deeper waters. At the same time, British Pound is weighed down by slowing wages growth and weak PMIs too. Swiss Franc is also
In this article JPM Follow your favorite stocksCREATE FREE ACCOUNT Jamie Dimon, CEO of JPMorgan Chase speaking with CNBC’s Leslie Picker in Bozeman, MT on Aug. 2nd, 2023. CNBC JPMorgan Chase CEO Jamie Dimon on Tuesday warned about the dangers of locking in an outlook about the economy, particularly considering the poor recent track record
In this article GOOGL Follow your favorite stocksCREATE FREE ACCOUNT An illuminated Google logo is seen inside an office building in Zurich, Switzerland. Arnd Wiegmann | Reuters Alphabet is set to report third-quarter earnings after the bell Tuesday. Here’s what Wall Street is expecting, based on a survey of analysts by LSEG, formerly known as
Share: The US Dollar cleared Monday’s losses, and the DXY Index jumped above 106.00. The S&P Manufacturing and Services PMI rose to expansion territory above 50.00 in October. US Treasury yields recover, allowing the USD to find demand. The US Dollar (USD) measured by the US Dollar Index (DXY) rose toward 106.30 on Tuesday, seeing
In a surprising twist, Euro experienced a significant surge overnight, powering through a short-term resistance level when matched up against Dollar. Euro in also a position to resume its long-term up trend versus Yen. he factors fuelling this surge, however, remain a subject of speculation. On one hand, recent economic indicators have been less than
As the day works toward the close, the GBPUSD is one of the biggest movers of the major currencies. The lower yields are helping. So are technical breaks. In this video, I outline the technical breaks and the next targets including the falling 200-bar moving average on the 4-hour chart at 1.23703. A swing area
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 prices eased on Monday as aid convoys started to arrive in the Gaza Strip over the weekend amid diplomatic efforts to contain a conflict between Israel and the Palestinian Islamist group Hamas from spreading to the wider oil-rich region. Brent crude futures fell 60 cents to $91.56 a barrel and U.S. West Texas Intermediate
Share: Australian Dollar extends gains as the US Dollar declines. Australia’s Manufacturing PMI eased to 48.0, while the Services PMI dropped to 47.6. China may approve over 1 trillion yuan in additional sovereign debt issuance. The pullback in US Treasury yields is weighing on the Greenback. The Australian Dollar (AUD) aims to trade in the
United States undersecretary of commerce for industry and security Alan Estevez recently told reporters at an event in Tokyo, Japan that the U.S. is currently looking to crack down on Chinese access to U.S. cloud-based technologies. Speaking to journalists at the Mount Fuji Dialogue policy forum on Oct. 21, Estevez confirmed reports that the U.S.
The EURGBP – a major cross-currency pair – has seen up-and-down price action today. The initial low found support near the low of a swing area and 0.86982. The subsequent move back to the upside took the price up to 0.8725 before rotating back down again to retest the low from earlier today. Now, the
EURUSD daily The euro is trading at the highest since September 24 as it clears the October 11 high of 1.0640. The rally today is more about the USD side of the equation as it slackens alongside Treasury yields. US 10s are trading at 4.86% from as high as 5.02% earlier today as part of
Gold fell on Monday amid strength in dollar index and uptick in bond yields. Yellow metal prices were down on the MCX and Comex as the markets begin to price-in the Israel-Hamas conflict. MCX December gold futures traded in the red on Monday at Rs 60,537 per 10 gram, up by Rs 191, or 0.33%.