Weekly WTI Oil is near the lows of the day, down 96-cents but still has some breathing room in what looks like it will be another weekly close above $90. Still, it feels like something of a loss for the bulls, or at least a loss of momentum. We touched $95 early on Thursday before
COMEX Gold prices experienced a significant downturn, marking their most substantial weekly loss in months. The yellow metal slid below the critical $1,900 per troy ounce threshold, primarily in response to a sharp surge in US treasury yields. This surge in yields elevated the opportunity cost of holding gold. At its September policy meeting, the
Nasdaq Comp We’ve seen this script before. Treasury yields came off the lows and slowly the gains in equities faded. The FX market might have been the tell earlier as money started to move into US dollars, something I alluded to. I just don’t know how you could have a lot of confidence in that
Share: The GBP/USD initially rose on Friday, but got knocked lower as the market broadly swept back into the US Dollar. The US Dollar index caught a late bid to push back into the middle to close out the trading week. Recession risk is still quite high in the UK, capping Pound Sterling bids. The
> Technical Analysis > What technical levels are in play for major currency pairs going into the new trading week Technical Analysis Technical levels in play for the week starting October 2, 2023 EURUSD: USDJPY: GBPUSD: USDCAD: AUDUSD: NZDUSD: ADVERTISEMENT – CONTINUE READING BELOW Tags ADVERTISEMENT – CONTINUE READING BELOW Most Popular ADVERTISEMENT – CONTINUE
Gold on the key London spot market declined to a six-month low on firm US dollar and a jump in Treasury yields. Hopes of interest rates staying higher for an unexpected period increased the demand for US assets. Despite a weaker Indian Rupee, domestic gold mirrored the trend with the most active MCX futures and
As the global financial markets tread through turbulent waters marked by escalating treasury yields and declining stocks, the US Dollar emerged as a beacon of strength. A noticeable uplift in the currency was observed last week, an upward motion fuelled by the twin factors of soaring treasury yields and a pervasive risk-averse sentiment that gripped
China manufacturing PMI Manufacturing PMI 50.2 vs 50.0 (prior 49.7) Non-manufacturing PMI 51.7 vs 51.5 expected (prior 51.0) The official manufacturing PMI is the important one and it rose above 50 for the first time since March 2023. That line signals expansion/contraction, so while it’s a small beat on expectations, it’s an important one. Notably,
From voice assistants to algorithms predicting global market trends, artificial intelligence (AI) is seeing explosive growth. But as with any emerging technology, there comes a point where innovation risks giving way to oversaturation. The rapid proliferation of AI tools and solutions in recent months has ignited discussions among industry experts and investors alike. Are we
Share: Mexican Peso finished the week on a lower note against the US Dollar. Mexico’s inflation rate will be the highlight of the economic agenda for the next week. USD/MXN could turn sideways after Banxico is determined to hold rates higher to curb inflation. The Mexican Peso (MXN) held to its gains vs. the US
The USDJPY had a volatile down and up trading day with the full 100 pip move to the downside in the first half of the day, nearly fully retracted in the 2nd half of the day. The low price today moved to the 200-hour moving average and the picture set midpoint of the move up
Spot gold extended its losing streak to the fifth consecutive day Friday as the metal closed with a loss of 0.85% at $1,648.73. Gold ended the week, the month and the quarter lower. High US yields and a strong Dollar continue to act as headwinds against the metal as investors see the US Federal Reserve
Markets: Gold down $16 to $1848 WTI crude oil down 78-cents to $90.93 US 10-year yields down 0.2 bps to 4.57% S&P 500 down 12 points to 4288 AUD leads, CAD lags The quarter ended with some drama as the US dollar shot higher, recouping losses from European and Asian trading and in some cases
Share: Nike beat earnings consensus for FQ1 results. The quarter ending in August witnessed better pricing power. Nike earned $0.94 per share on revenue of $12.94 billion. NKE stock has conquered the 21-day SMA, signaling a new uptrend. August PCE data shows core inflation slowing its growth trajectory. Nike (NKE) stock has surged over 9%
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Oil prices fell on Friday in a volatile trading session, as macroeconomic concerns weighed on the recent rally. Front-month Brent November futures were down 14 cents, or 0.15%, at $95.24 per barrel at 1442 GMT ahead of the contract’s expiry later in the day. The more liquid Brent December contract was down 72 cents, or
As the quarter nears its end, a tangible shift towards a risk-on sentiment is sweeping through the global financial markets. Supported by lower than expected inflation data from both sides of the Atlantic, investors are regaining confidence. This renewed optimism is evident in the notable gains posted by major European stock indexes, with US futures
The major indices are closing mixed today with the Dow Industrial Average average fearing the worst. The NASDAQ index eked out a small gain for the day. The S&P was lower. A snapshot of the closing levels shows: Dow industrial average fell -157.50 points or -0.47% at 33508.86 S&P index -11.46 points or -0.27% at