Sterling has faced significant selling pressure as markets reacted negatively to the Labour government’s budget announcement. Some analysts draw comparisons to the free fall following former Prime Minister Liz Truss’s mini-budget two years ago. Yet, the current selloff is notably milder. The focus now is on whether Sterling can stabilize in the coming days or
The broader indices are trading to new session lows: S&P index is down -93 points or -1.60% at 5720.40 NASDAQ index is down -473 points or -2.55% at 18132.97. Looking at the NASDAQ index, it is trading above and below key support near 18146.61. The price is just below the level now and if the
Why it’s important? In the Asian session, Eamonn published the range of estimates for today’s US NFP report. These ranges are important in terms of market reaction because when the actual data deviates from the expectations, it creates a surprise effect. Another important input in market’s reaction is the distribution of forecasts. In fact, although
Written by , ETMarkets.com| Oct 31, 2024, 06:02:24 PM IST 1/8 New Highs On Thursday, the benchmark index, the Sensex, declined by 553 points, finishing at 79,389. Despite the market’s downturn, seven stocks within the BSE 500 index reached their 52-week highs. A 52-week high indicates the highest price a stock has achieved in the past
Hiring signs outside a Stewart’s gas station in Catskill, New York, US, on Wednesday, Oct. 2, 2024. Angus Mordant | Bloomberg | Getty Images Powerful hurricanes and a major labor strike could take a chunk out of the nonfarm payrolls count for October, which is expected to be the slowest month for job creation in
Apple late Thursday delivered a quarter that can only be described as much better than feared. It wasn’t perfect, but it was pretty darn good. Revenue in Apple’s fiscal 2024 fourth quarter, which ended in September, grew 6% year-over-year to a September quarter record of $94.93 billion – outpacing the LSEG estimate of $94.58 billion.
Gold dips from all-time high amid strong US jobs data and steady core inflation. Investors remain risk-averse ahead of November 5 US election, polls show a narrow race between Trump and Harris. Nonfarm Payrolls and Fed’s upcoming rate decision keep traders cautious. Gold price retreated from all-time high on Thursday as traders failed to capitalize
Euro strengthened broadly after Eurozone’s flash CPI revealed stronger-than-expected increase in headline inflation, while the decline in core inflation has come to a halt. This data, coupled with the better-than-anticipated GDP figures released yesterday, has provided substantial support to the hawks within ECB. There appears to be no immediate need for ECB to accelerate monetary
The price of USDCAD fell below its 100-hour moving average currently at 1.39028 (see earlier post). Last week, the price fell below that moving average line, but reversed back higher. The week before it fell below the 100-hour moving average but also failed on the break. When the market trends you can get those counter-trend
Consensus estimate +113K Estimate range +0K (ABN AMRO) to +200K (DBS Bank) September was +254K Private consensus +90K versus +223K prior Unemployment rate consensus estimate 4.1% versus 4.1% prior Prior unrounded unemployment rate 4.0510% Prior participation rate 62.7% Prior underemployment U6 7.7% Avg hourly earnings y/y exp +4.0% versus +4.0% prior Avg hourly earnings m/m
Written by , ETMarkets.com| Oct 31, 2024, 06:09:39 PM IST 1/4 Stock Ideas Indian benchmark equity indices fell on Thursday, logging their worst monthly performance since March 2020, as record monthly foreign outflows and lacklustre corporate earnings pummelled investor sentiment.They were dragged most by IT stocks with support from FMCG and bank stocks. While Nifty finished
Inflation increased slightly in September and moved closer to the Federal Reserve’s target, according to a Commerce Department report Thursday. The personal consumption expenditures price index showed a seasonally adjusted 0.2% increase for the month, with the 12-month inflation rate at 2.1%, both in line with Dow Jones estimates. The Fed uses the PCE reading
In this article MSFT Follow your favorite stocksCREATE FREE ACCOUNT Microsoft CEO Satya Nadella speaks at a company event on artificial intelligence technologies in Jakarta, Indonesia, on April 30, 2024. Dimas Ardian | Bloomberg | Getty Images Microsoft‘s better-than-expected earnings report wasn’t enough to prevent the stock’s steepest selloff in two years, as investors instead
The Mexican economy grew surprisingly strongly in the third quarter, according to the first estimate. Instead of 0.6%, according to the Bloomberg median, it grew by almost 1% quarter-on-quarter, the highest rate in a year, Commerzbank’s FX analyst Michael Pfister note. Risk of Trump becoming president weighs on peso “This was probably mainly due to
Yen recovers broadly today after BoJ left interest rates unchanged, and largely maintained the economic projections unchanged too. The direction of monetary policy remains clear as the next move is a hike if the outlook is realized. Yet, BoJ dropped no clue on the timing. Data from Japan were mixed, with stronger industrial production and
After testing the 10810 level and finding buyers near that level early in the US session, the price has snapped back to the upside and has entered into a topside resistance area between 1.0864 and 1.08725. That area is defined by the 100-bar moving average on a four hour chart, the 200 day moving average,
The losses so far today are largely led by tech, with Nasdaq futures down 0.7% currently. It comes despite Meta and Microsoft reporting earnings beat after the close, with Greg providing a comprehensive rundown of it all here. Is it a case of month-end timing? Or perhaps investors weren’t all too happy with the surging
Gold December futures contracts at MCX today opened at Rs 79,681 per 10 gram, which is down by 0.14% or Rs 113 while silver December futures contracts were trading at Rs 96,825/kg, down by 0.94% or Rs 915. In the month of October, precious metals have shown an impressive upward rally, with gold prices gaining
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