The EUR/USD pair experienced a setback on Friday, losing ground amidst renewed resistance at the 20-day Simple Moving Average (SMA). While the pair managed to avoid a significant sell-off, attempts to break decisively above this key technical level were met with resistance, suggesting a lack of strong bullish momentum. …
Read More »Dollar Faces Weekly Decline Ahead of Trump’s Inauguration Amid Rate Speculation
The U.S. dollar steadied on Friday but was set to break its six-week winning streak as investors reassessed the Federal Reserve’s monetary policy path and looked ahead to the inauguration of President-elect Donald Trump next week. Dollar Dips on Fed Rate Cut Expectations The dollar index, which measures the greenback …
Read More »U.S. Stock Futures Edge Higher as Earnings Season Gains Momentum
U.S. stock index futures advanced on Friday, pointing to a positive end to the week as investors digested the ongoing earnings season and assessed the outlook for interest rates and trade policies. At 05:50 ET (10:50 GMT), Dow Jones Futures climbed 125 points, or 0.3%, while S&P 500 Futures gained …
Read More »China’s Q4 GDP Exceeds Expectations Amid Aggressive Stimulus Measures
China’s economy delivered stronger-than-expected growth in the fourth quarter of 2024, as a series of robust stimulus measures from Beijing began to yield results. Gross domestic product (GDP) expanded by 5.4% year-on-year in the three months ending December, surpassing market expectations of 5% and sharply accelerating from 4.6% growth in …
Read More »European Shares Extend Gains Amid Easing Bond Yields, Led by Construction and Utilities
European shares advanced on Friday, bolstered by broad-based gains across sectors as government bond yields continued to decline. The pan-European STOXX 600 rose 0.4% by 0815 GMT, positioning the index for a fourth consecutive weekly gain, with a weekly jump exceeding 1.5%. Key Sector Performances The construction and materials sector …
Read More »Gold Steadies Near One-Month High Amid Rate Uncertainty and Trump Policies
Gold prices hovered near a one-month high during Asian trading hours on Friday, driven by investor uncertainty over U.S. interest rate policy and the incoming administration of President Donald Trump. Meanwhile, industrial metals like copper gained ground, buoyed by robust economic data from China. Gold Gains on Dollar Weakness and …
Read More »Trump Set to Make Cryptocurrency a National Priority
President-elect Donald Trump is reportedly preparing to issue an executive order that would elevate cryptocurrency to a national policy priority, signaling a significant shift in the U.S. government’s approach to digital assets. According to Bloomberg, the move, expected as early as Monday, could grant the cryptocurrency industry greater influence over …
Read More »Oil Prices Dragged Almost 3% Lower By US Draw, Red Sea Calm, Sanctions
Oil prices experienced a slight decline, driven by a convergence of factors. A potential ceasefire agreement in the Red Sea, aimed at halting Houthi attacks on shipping, has eased maritime security concerns and reduced geopolitical risk premiums. This development, coupled with a recent agreement between Israel and Hamas to end …
Read More »Canadian Dollar Stumbles as Data Doldrums Persist
The Canadian Dollar weakened against the US Dollar on Thursday, extending its recent consolidation phase. A lack of significant economic data releases from Canada left the Loonie vulnerable to market shifts.USD/CAD traded near multi-year highs, hovering around the 1.4400 level. While US Retail Sales and Initial Jobless Claims showed some …
Read More »Gold Surpasses $2,710 on Declining Dollar, Falling Yields
Gold prices surged above the $2,700 mark on Thursday and is trading even above this level, at $2,714 at the timee of writing. This bold price action is certainly fueled by a weaker US Dollar and declining US Treasury yields. This rally comes amidst mixed economic data from the United …
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