The US Q1 GDP shows a slower growth rate of 1.6% YoY. Positively, there is a solid weekly trend in jobless claims. The short-term direction of DXY will be determined by Friday’s PCE data for March. After its lengthy surge in April, the US Dollar Index (DXY) is seen trading …
Read More »Gold price steadies as GDP data influences interest rate outlook
Gold price has maintained intraday gains above $2,300 amid higher US Q1 GDP inflation. Gold is trading at $2330.36 per ounce at the time of writing, with gains surpassing +0.65%.The Fed will maintain the “higher for longer” interest rates argument, and the easing of tensions in the Middle East has …
Read More »US economic growth slows more than expected in Q1
The US economy is expected to have maintained solid growth in the first quarter of the year, albeit at a slightly slower pace, while inflation likely picked up speed. This reinforces market expectations that the Federal Reserve will postpone interest rate cuts until September. The Commerce Department’s report on first-quarter …
Read More »Gold rises before the announcement of US economic data
Gold prices rose on Thursday with a decline in the dollar, while investors focused on US economic data for clues on the path the Federal Reserve (US central bank) will take regarding interest rates. Gold in spot transactions increased 0.3 percent to $2,324.10 per ounce by 0752 GMT. But US …
Read More »Oil is stable as the market is affected by US demand concerns and the Middle East conflict
Oil prices saw little change on Thursday amid a decline in fuel demand in the United States, the world’s largest oil consumer, coupled with concerns over a potential escalation of conflict in the Middle East. Brent crude futures edged up nine cents to $88.11 a barrel by 0420 GMT, following …
Read More »European stocks decline amid mixed corporate profits
European stocks fell on Thursday after mixed earnings from major companies such as Nestle and Deutsche Bank. The European STOXX 600 index fell 0.24 percent by 0745 GMT, affected by losses in the food, beverages and industrial goods sectors. Technology stocks were under pressure after disappointing revenue expectations from the …
Read More »Gold falls under pressure from a profit-taking wave
Gold prices experienced a decline on Thursday as investors opted to take profits following a sustained uptrend in the precious metal. Additionally, pressure from investment institutions seeking to raise liquidity contributed to the downward movement. Attention shifted towards data on the US economy to gauge indications of the Federal Reserve’s …
Read More »Dow Jones facing negative pressure 25/4/2024
Oil, Crude, trading
Read More »CAD: negative pressure exists 25/4/2024
The Canadian dollar has continued its bearish trajectory, encountering strong resistance near the 1.3730 level, prompting renewed negative trading for the pair. From a technical standpoint, the 240-minute timeframe reveals the persistence of bearish technical patterns, reinforcing the overarching daily downtrend. Additionally, the ongoing formation of simple moving averages continues …
Read More »USD/JPY achieve the goals and positivity persists 25/4/2024
japanese-yen
Read More »