Gold prices experienced a significant uptick on Tuesday, October 15, 2024, as the yield on US 10-year Treasury notes retreated. This decline, coupled with a weaker US Dollar, made gold more attractive to investors seeking a safe-haven asset.The primary catalyst for gold’s surge was the decrease in US Treasury yields. …
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Oil prices dropped over 4% on Tuesday due to a weaker demand outlook and reduced concerns about a potential Israeli strike on Iranian oil facilities. Both OPEC and the IEA have lowered their global oil demand growth forecasts for 2024.Hedge funds are unwinding their net long positions in oil futures.Crude …
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U.S. Treasury yields have been on a downward trajectory, influenced by a combination of domestic economic data and recent statements from Federal Reserve officials, notably those suggesting a more aggressive pace of interest rate cuts in the coming period.The yield on the 10-year Treasury note declined to 4.032%, compared to …
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US stocks experienced a decline on Tuesday, October 15th, as investors digested a series of corporate earnings reports, particularly from the banking and semiconductor sectors. The Dow Jones Industrial Average, S&P 500, and NASDAQ Composite all fell by significant margins.Among the notable developments, Walgreens Boots Alliance saw a substantial increase …
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The Federal Reserve, the central bank of the United States, plays a crucial role in managing the country’s money supply and interest rates. When interest rates rise, it becomes more expensive to borrow money, while when they lower, borrowing becomes cheaper. Certificates of Deposit (CDs) are savings accounts that offer …
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The British Pound (GBP) rallied against the US Dollar (USD) on Tuesday, following a robust UK jobs report that exceeded expectations. The unemployment rate declined, and the economy added over 373,000 jobs, boosting the GBP/USD by 0.18%.The strong UK jobs report has provided a boost to the GBP/USD. While the …
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USD/CAD Surges as BoC Faces Pressure to Ease RatesThe Canadian Dollar (CAD) weakened against the US Dollar (USD) following the release of cooler-than-expected Canadian inflation data. The Consumer Price Index (CPI) declined to 1.6% annually in September, from 2.0% in August, and below estimates of 1.8%.Lower Inflation Signals Rate CutsThe …
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U.S. stock index futures remained steady on Tuesday after a strong rally in technology shares pushed major Wall Street indices to record highs in the previous session. As investors prepare for key corporate earnings reports, market sentiment remains cautious but optimistic. By early morning trading, Dow Jones Futures inched up …
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Oil prices tumbled more than 4% on Tuesday, reaching their lowest levels in nearly two weeks due to a weaker global demand outlook and a report suggesting that Israel may refrain from striking Iranian oil infrastructure. This development eased concerns over potential supply disruptions in the Middle East, which had …
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The U.S. dollar held close to its highest levels in over two months on Tuesday, buoyed by expectations that the Federal Reserve will adopt a more cautious approach to rate cuts in the near term. Traders have dialed back predictions of large rate cuts following a series of robust U.S. …
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