COMEX Gold prices started the week on a negative note, plunging almost 2.5% in the first two days. The yellow metal approached an eleven-week low of $1,810.8 per troy ounce notched in the previous week, as Fed chair Jerome Powell unveiled a hawkish tilt. During the congressional testimony, Fed chair Jerome Powell said that the
The Dow Jones Industrial Average (DJIA) is one of the most widely recognized stock market indices in the world. It tracks the performance of 30 large-cap American companies and is often seen as a barometer of the overall health of the US economy. In this Dow Jones futures video, i duscuss the technical analysis of
The US government will make a ‘material’ announcement today to shore up deposits at Silicon Valley Bank, according to a report from Reuters. The action is being taken to prevent a wider run on banks. There are no details in the report beyond that. There’s been plenty of ruminating about what should happen given that
City workers in Paternoster Square, where the headquarters of the London Stock Exchange is based, in the City of London, UK, on Thursday, March 2, 2023. Bloomberg | Bloomberg | Getty Images LONDON — The U.K. economy grew by 0.3% in January, official figures showed on Friday, exceeding expectations as it continues to fend off
Share: EUR/USD reached a two-week high at 1.0700 and finished the week with minimal gains. Sentiment shifted sour on a default by the Silicon Valley Bank in the US, at the risk of spillover in the sector. US jobs data was mixed but flashed signs of cooling down. Germany’s inflation was unchanged and warranted further
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The recent hawkish comments from the US Fed chairman let the gold investors take a cautious approach, pulling down prices to near $1800 an ounce this week. Easing fears of a global recession, higher US bond yields, and a three-month high US dollar also weighed down the sentiment of the precious yellow metal. Gold surged
USDCAD trade between technical levels near highs. Canada also released jobs data today. It was a better than expectations, but the SVB news defined the price action. That sent the flight into the safety of the USD. The USDCAD moved lower, but the low on the hourly chart above, stalled at the trend line connecting
US equities were hit hard today and the S&P 500 virtually erased its gains for the year in the second day of selling. Stocks tried to rally early on a higher US unemployment rate but worries about banks led to heavy selling in the latter half of the day as Silicon Valley Bank was taken
Job creation decelerated in February but was still stronger than expected despite the Federal Reserve’s efforts to slow the economy and bring down inflation. Nonfarm payrolls rose by 311,000 for the month, the Labor Department reported Friday. That was above the 225,000 Dow Jones estimate and a sign that the employment market is still hot.
Share: USD/CHF extended its drop past the 20/50-day EMAs after facing resistance at the 200-day EMA. USD/CHF Price Forecast: Shifted bearish, though needs to crack 0.9130s to test YTD lows. USD/CHF falls below the confluence of the 20 and 50-day Exponential Moving Averages (EMAs), extending its daily losses to more than 1% Friday. A mixed
Several USD Coin (USDC) holders have fled to other stablecoins since March 10 amid fears surrounding its solvency following the disclosure that a small portion of USDC’s collateral was held at Silicon Valley Bank. However, not all of them had success during panic selling. One user paid over 2,000,000 USDC to receive $0.05 of Tether
Gold prices edged up on Friday as the dollar eased after data showed that weekly U.S. jobless claims grew more than expected, spurring hopes that a softening labor market could pave the way for less-aggressive rate hikes from the Federal Reserve. FUNDAMENTALS * Spot gold was up 0.1% at $1,832.59 per ounce, as of 0103
NASDAQ index is below is 100 day moving average The NASDAQ index is now down over 200 points or -1.83%. For the week the index is down by -4.75%. That’s the worst week since October 31 when the index fell -5.65%. Technically the price has dipped below the 100 day moving average at 11136.58. The
Here is one side of the argument: The reality is that the Fed and Treasury have a magic bullet here. They can back up the deposits and with the ‘held to maturity’ problem, they could exchange those bonds for cash and take them on their balance sheet in a kind of mini-QE. If either of
Women walk past by a “Now Hiring” sign outside a store on August 16, 2021 in Arlington, Virginia. Olivier Douliery | AFP | Getty Images The unemployment rate for Black and Hispanic women rose in February, but so did the number of people looking for jobs. The U.S. unemployment rate ticked up to 3.6% in