Share: Natural Gas price recovers following the release of US inflation data which comes out lower than expected, weighing on the US Dollar. Natural Gas had been trading flat-to-lower prior to the data on Friday due to greater-than-expected stockpiles in Europe. This largely eclipsed US data out on Thursday showing a fall in inventories last week. Natural
S&P index trades to new 2023 highs As a market heads into the close for the week, month, and quarter, the S&P today is extending to new highs for the year. The price extended above the June 16 high at 4448.47 to an intraday high of 4456.72. The current price trades at 4452.22. Technically, this
The price of Apple closed above $3 trillion for the 1st time. It was also the 1st company to do that. The NASDAQ index had its best start to the year in 40 years. The major indices all closed higher for the week and the month. The final numbers are showing: Dow industrial average rose
Highlights of the week ended June 30 include views and opinions of the key central bankers at ECB forum held from June 27 to June 28 in Sintra, Portugal. Market participants keenly watched a panel discussion involving Federal Reserve Chair Powell, Bank of England Governor Bailey, ECB’s President Lagarde and Bank of Japan’s Governor Ueda
Inflation pressures eased slightly in May as consumer spending slowed considerably, according to a Commerce Department report released Friday. The personal consumption expenditures price index, a number closely watched by the Federal Reserve, increased 0.3% for the month when excluding food and energy, a number that was in line with the Dow Jones estimate. So-called
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Share: The XAG/USD jumped above $22.70, seeing more than 0.80% gains and is set to close a winning week. Core PCE declined to 4.6% YoY in May, lower than expectations. Following the data the USD and US bond yields retreated. The XAG/USD surpassed the $22.70 mark on Friday and registered an increase of over 0.80%.
USDJPY tests 100 hour MA. Short term barometer. The USDJPY moved lower today, coming off the boil a bit (see videos here and here).The drift lower started against a channel trend line against swing highs from this week (green numbered circles). The lows have inched below the lower channel trend line but stalled ahead of
US core PCE prices (excluding food and fuel costs) for the month of May rose 0.3% as expected but the YoY level was mostly lower at 4.6% versus 4.7% last month and expected. The PCE price index fell from 4.3% to 3.8%. That was the 1st decline below 4% since early 2021. Personal consumption (adjusted
Gold prices rose Rs 80 to Rs 59,030 per 10 grams in the national capital on Friday amid gains in overseas precious metal prices, according to HDFC Securities. The yellow metal had settled at Rs 58,950 per 10 grams in the previous trade. Silver, however, tumbled Rs 550 to Rs 70,700 per kilogramme. “Gold slightly
Dollar sees a significant dip in early US session after release of economic data showed a slower than expected headline PCE inflation and a slight decline in core PCE inflation. In contrast, Eurozone reported a tick up in core inflation for the same period. Stock futures rally on this news, while benchmark treasury yields dip
Pixelcatchers | E+ | Getty Images It’s not an easy time to be a small business in search of financing. For LGBTQ owners, the struggle has been even harder. LGBTQ-owned businesses reported more rejections than non-LGBTQ businesses that applied for funding, according to a 2022 report from Movement Advancement Project, a nonprofit think tank that
An open letter to lawmakers in the European Union was issued by more than 160 executives from tech companies around the world urging careful consideration of artificial intelligence (AI) regulations not to stunt the industry or markets. On June 30, executives from companies such as Renault, Meta, Spanish telecom company Cellnex and German investment bank
Share: Economists at Crédit Agricole expect EUR/USD to experience downside pressure in the near term. However, the pair is set to recover toward 1.11 in the coming months. Near term downside risks for EUR/USD We see downside risks for EUR/USD from its current levels in the near term and project a recovery only going into
We keep hearing from the Fed members that two or more rate hikes this year are likely if the data remains solid. In fact, since the last FOMC meeting, the data indeed kept on surprising to the upside and led to a more hawkish repricing in interest rates expectations that eventually favoured the greenback. On
Eurostoxx +0.6% Germany DAX +0.8% France CAC 40 +0.8% UK FTSE +0.5% S&P 500 futures +0.3% Nasdaq futures +0.5% Dow futures +0.1% Perhaps we are seeing some window dressing at play before we hit the end of the quarter and the half-year mark? In any case, it’s a tough one to say for sure especially