Gold prices rose to a one-week high on Thursday, supported by a slight decline in the dollar, as investors weighed somewhat measured comments from Federal Reserve Chairman Jerome Powell following a widely expected interest rate hike. Spot gold rose 0.3 percent to $1,977.13 an ounce by 0352 GMT, after earlier …
Read More »Dollar is falling amid expectations of the end of the federal interest rate hike cycle
The dollar fell on Thursday after the Federal Reserve made what some predicted would be its last rate hike, with market focus shifting to the European Central Bank’s interest rate decision later in the day. The Fed on Wednesday raised interest rates by a quarter of a percentage point as …
Read More »Oil is heading to its highest level in more than 3 months with focus on tight supply
Oil prices rose 1 percent on Thursday, to compensate for the losses of the previous session, after overshadowing concerns about the economic slowdown, and expectations of an increase in Chinese demand. And by 0522 GMT, Brent crude futures rose 72 cents, or 0.9 percent, to $ 83.64 a barrel. US …
Read More »Barclays says Apple September quarter guidance could miss Street estimates
In a letter to investors on Wednesday, Barclays analysts expressed their concern that Apple’s forecast for the September quarter would fall short of market expectations. Despite the likely miss, the analysts said it’s not obvious that it matters for the stock because “bulls may expect a stronger Dec-Q.” They rate …
Read More »Australia fines Meta $14 million for collecting user data for advertising purposes
An Australian court has ordered Meta Platforms, owner of Facebook, to pay fines a total of A$20 million ($14 million) for harvesting user data through a smartphone app that was promoted as a way to protect privacy without disclosing its actions. The Australian Federal Court also ordered Mita to pay …
Read More »Gold rises as traders await indications from the Fed
Gold rose, but its movements remained within a narrow range on Wednesday, as dealers held back from big bets ahead of the US Federal Reserve’s policy decision later in the day. Spot gold rose 0.3 percent to $1,969.51 an ounce by 0747 GMT. US gold futures rose 0.4 percent to …
Read More »Nikkei closes lower ahead of the BoJ meeting
The Japanese Nikkei index fell slightly on Wednesday, July 26, under pressure from the decline in stocks of auto and tire makers, while investors engaged in selling to take profits ahead of the monetary policy meeting of the Central Bank of Japan, which lasts for two days this week. The …
Read More »Oil is falling due to the increase in US crude stocks
Oil prices fell on Wednesday, retreating from their highest levels in three months the day before, after industry data showed a rise in US crude stocks, but signs of shrinking global supplies and hopes for a stimulus in China limited losses. Brent crude futures fell 32 cents, or 0.4 percent, …
Read More »Stability of European stocks after mixed results for the companies’ business
European stocks settled near their highest levels in five weeks today, Tuesday, and shares of mining and luxury goods companies led the gainers, after China pledged more support for its slowing economy, but the mixed results of the companies’ business limited the gains. The European Stoxx 600 index was little …
Read More »Yuan jumps after Beijing pledged to support the economy, Euro and Sterling rose
The Chinese yuan rose on Tuesday after the country’s top leaders pledged to boost political support for the reeling economy, while the euro and the pound sterling stabilized after falling for days as investors awaited meetings of major central banks. The yuan rose more than 0.5 percent in the onshore …
Read More »