COMEX Gold prices are poised for the fourth consecutive weekly decline and are hovering near four-month lows, weighed down by higher treasury yields and steady greenback. The yellow metal started the week on a positive note, after the ISM Manufacturing PMI in the United States fell to 46 in June 2023, from 46.9 in May
Share: On Friday, the EUR/JPY found support at the 155.40 area, near the 20-day SMA and then settled at 155.80 The JPY strengthen agains most of its rivals amid strong Labor Cash Earning data from Japan. Eyes on German CPI data next Tuesday. At the end of the week, the EUR/JPY traded with losses for
AUDUSD tests 100/200 day MAs The AUDUSD is pushing to a new session high and in the process is testing its 200-day moving average of 0.66949. The price has already moved above its 100-day moving average of 0.66866. Staying above the 100-day moving average keeps the buyers firmly in control. On Tuesday and again on
IATA chart Global air travel is perhaps the single-best indicator of covid impacts and the latest data shows that we’re on the cusp of a full retracement. The May report from IATA shows that passenger-kilometers are at 96.1% of the pre-pandemic level, which is up 39.1% year-over-year. I strongly suspect the job is completed in
A Now hiring sign at McDonald”u2019s restaurant in Yorba Linda, CA, on Monday, Sept. 13, 2021 offering pay from $15 an hour for new employees as signs around the region are getting the cold shoulder from workers reluctant to resume service-industry jobs.” Jeff Gritchen | Medianews Group | Getty Images The U.S. labor market showed
Twitter’s plans to roll out a payment platform took a major step forward this week as its subsidiary, Twitter Payments, received its first money transmitter licenses in the United States states of Michigan, New Hampshire and Missouri. The company — reportedly building a solution with crypto in mind — is seeking to provide transfer services
A weaker than expected non-farm payroll data in the US enthused bullion as the yellow metal ended with sharp gains on Friday. But the outlook for bullion is expected to remain sideways over this week, investors can find buying opportunities on dips. While the unemployment rate retreated from its 7-month high, the numbers were far
Share: The US dollar weakens across the board after the US official jobs report. EUR/USD gains momentum after breaking above 1.0930. The pair is heading for its highest weekly close since May. The EUR/USD pair gained momentum amid a weaker US Dollar following the release of US employment data. After breaking above 1.0930, the Euro
EURUSD targets the swing area The EURUSD continued its run to the upside and in the process has now reached the next key swing area between 1.09618 and 1.09759. The high price reached 1.09725. The current price trades at 1.0966. The move to the upside took the steps outlined in the pre-employment video. IN that
The major indices gave up gains into the close with all the major indices closing lower on the day. At session highs the Dow was up 114.11 points S&P was up 28.29 points, and the she NASDAQ index was up 125.47 points. At the close, the indices were all negative. Dow industrial average -187.25 points
Japanese Yen exhibited an impressive rally last week and ended as the strongest performer. The move was spurred by Japan’s substantial wage growth, which shot JGB yield higher and countered the impact of rising benchmark yields in the US and Eurozone. In light of these developments, signs are pointing towards a potential bullish reversal for
Filadendron | E+ | Getty Images The overall U.S. unemployment rate declined in June, but a negative trend among Black workers may be emerging, according to the latest nonfarm payrolls report. Overall, the unemployment rate last month was 3.6%, a 0.1 percentage point decrease from May, the U.S. Department of Labor reported Friday. However, Black
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Gold prices on Friday were on track for a fourth consecutive weekly loss as investors bet the Federal Reserve will keep interest rates higher for longer, weighing on non-yielding bullion. FUNDAMENTALS * Spot gold held steady at $1,911.85 per ounce by 0023 GMT, but was down 0.4% for the week. U.S. gold futures ticked up
Share: Canadian Dollar claws back losses suffered overnight after underwhelming NFP data bursts Thursday’s optimism. CAD finds a friend in rising Crude Oil prices and after data shows a fall in stockpiles. USD/CAD trend is now bullish both on shorter and longer time frames after decisive breach of key 1.3270 lower highs. Canadian Dollar (CAD)
Crude oil moves up to test its 100 day moving average The price of WTI crude oil futures settled at $73.86. That’s up $2.06 or 2.87%. The gain equaled the gain from July 5 which is the largest gain since June 15. The low price reached $71.19. The high price was at $73.91. The lower