European shares faced a challenging day on Friday, extending their weekly losses as a combination of factors weighed on investor sentiment. The pan-European STOXX 600 index experienced a significant decline of 0.6%, reaching a two-week low, amid a widespread sell-off across various sectors. The travel and leisure sector suffered the …
Read More »Gold Prices Tumble from Record Highs Amid Profit-Taking and Dollar Strength
Gold prices experienced a sharp decline in Asian trading on Friday, retreating from recent record highs due to a combination of profit-taking and a strengthening dollar fueled by speculation over a potential second term for Donald Trump and stricter U.S. trade policies. The spot gold price plummeted 0.9% to $2,423.89 …
Read More »Asian Stocks Slide Amid US-China Trade War Concerns
Asian stock markets experienced a broad decline on Friday, fueled by persistent worries over a potential trade war between the U.S. and China. The technology sector led the losses, despite positive earnings from TSMC, as investors continued to rotate out of tech stocks and into economically sensitive sectors. Key Takeaways: …
Read More »The Pound’s Ascent: A Year-Long High Amid Global Rate Shifts, But Can It Last?
The British pound has soared to its highest point in a year, propelled by investors seeking attractive returns as global interest rates decline. However, financial experts warn that sustaining this momentum may require more than just elevated interest rates. Recent data reveals that UK inflation remains stubbornly high, prompting traders …
Read More »European Shares Rise on Energy Gains, ECB Decision Looms
European shares experienced a modest rebound on Thursday, driven by gains in the energy sector, which offset declines in technology stocks. However, investor attention remained firmly fixed on the European Central Bank’s (ECB) impending interest rate decision. The pan-European STOXX 600 index edged 0.3% higher, breaking a three-day losing streak. …
Read More »Oil Prices Rise on Larger-Than-Expected Decline in U.S. Crude Stocks
Oil prices continued to rise on Thursday, supported by a larger-than-expected decline in U.S. crude inventories, signaling strong demand from the world’s largest oil consumer. Brent crude futures rose 0.5% to $85.49 a barrel, while U.S. West Texas Intermediate (WTI) crude gained 0.8% to $83.54, both building on gains from …
Read More »Gold Prices Surge to New Heights Amid Rate Cut Optimism and Trade War Fears
Gold prices continued their upward trajectory, hitting fresh record highs in Asian trading on Thursday. This surge was driven by a weakening dollar, fueled by growing expectations of U.S. interest rate cuts, as well as increasing safe-haven demand due to escalating trade tensions between the U.S. and China. Spot gold …
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Read More »GBP/USD: Strong Bullish Momentum, Upside Potential Ahead 18/7/2024
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