Trading tended to be positive, dominating the movements of the euro-dollar pair during the previous trading session as part of attempts to stabilize above the resistance level of 1.1000. On the technical side today, the pair’s intraday movements are witnessing attempts to stabilize above the breached resistance level at the …
Read More »Gold is hovering above $2,000 ahead of the Fed’s rate decision
Gold prices hovered above the $2,000 mark on Wednesday, as investors await the Federal Reserve’s decision on interest rates due later on Wednesday. Gold settled in spot transactions at $ 2016.29 an ounce by 0140 GMT, after rising by more than one percent in the previous session. US gold futures …
Read More »Dollar is under pressure after the US jobs data
The dollar fell on Wednesday after data showed a decline in new jobs in the United States, while all eyes were on the Federal Reserve’s decision later on Wednesday regarding interest rates. Data on Tuesday showed new jobs fell in the United States for the third month in a row …
Read More »Oil continues to decline
Oil prices continued their decline on Wednesday, after falling nearly five percent in the previous session to a five-week low, while investors await more rate hikes this week. Brent crude futures fell 13 cents, or 0.2 percent, to $75.19 a barrel by 0015 GMT, while West Texas Intermediate crude fell …
Read More »Limited movements in European stocks ahead of Fed’s rate decision
European stocks moved in a limited range on Tuesday as investors returned from the Labor Day holiday on Monday ahead of decisions by the Federal Reserve and the European Central Bank to raise interest rates later this week. The pan-European Stoxx 600 index rose 0.1% by 0715 GMT, with banks …
Read More »Pfizer beats profit estimates as new drugs offset COVID products slump
Pfizer Inc surpassed analysts’ expectations for first-quarter earnings on Tuesday, thanks to robust demand for recently acquired drugs and pneumococcal vaccinations, which helped offset the impact of falling sales of its COVID-19 medications. The pharmaceutical company is under pressure to spend the windfall profits from strong demand for its COVID …
Read More »Euro zone inflation edges up to 7.0% in April
Headline consumer prices in the eurozone rose somewhat more than expected in April, but underlying costs fell unexpectedly, providing regional rate-setters with a mixed picture of inflation as they prepare to announce their next rate decision this week. Following a renewed rise in energy prices, the currency’s area consumer price …
Read More »Oil is falling on fears of weak demand in China
Oil prices fell in Asian trading on Tuesday, extending losses incurred in the previous session, as weak economic data from China and expectations of a US interest rate hike cast a shadow over the market. Brent crude fell 24 cents, or 0.3 percent, to $79.07 a barrel by 0615 GMT, …
Read More »Most Japanese stocks fell on concerns about the banking system
Most Japanese stocks fell on Tuesday, as the country’s financial sector shares were affected by the tension surrounding the US banking system, while shares of export companies got a boost from the weaker yen. Brokerage firm Nomura Holdings fell 1.98 percent, hitting a new low for the current year. Banking …
Read More »Gold prices stable amid caution ahead of Fed meeting
Gold prices stabilized on Tuesday, as traders cautiously await new signals from major central banks regarding their monetary policy plans, especially the US Federal Reserve. There was little change in gold in spot transactions, to record $1983.29 an ounce by 0528 GMT. US gold futures fell 0.1 percent to $1,991. …
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