US stocks closed lower on Monday as investors have shifted focus to the upcoming congressional testimony by Fed Chair Jerome Powell and the monthly NFP report that could put equity gains to a real test.The S&P 500 fell just below the flatline after ending Friday with its 16th weekly win …

Oil prices fell on Monday due to rising tensions in the Red Sea and the Israel-Hamas conflict, with OPEC+ extending voluntary production cuts and demand sentiment taking a hit from an unusually mild winter. Brent crude was trading up 1.05% at $82.67, while West Texas Intermediate (WTI) was trading up …

Jerome Powell has repeatedly said the looming election plays no role in policy decisions, but some Fed watchers worry that rate cuts this year could be perceived as the Fed giving a boost to Democrats. PHOTO: BLOOMBERGJerome Powell JEROME Powell faces heightened pressure this week from Democrats who want interest-rate …

Economists expect the EUR/USD exchange rate to end the year at 1.1000. Limited upside potential is also suggested.Economists see limited upside potential for EUR/USD this year. By the end of the year, economist expect prices to be around 1.1000. The Euro is likely to appreciate slightly over the next few …

The USD/JPY advances toward 150.47, up +0.28%, at the time of writing, as Bank of Japan might postpone policy-normalization plans. BoJ’s Ueda wants to see more wage data before announcing victory over deflation. The US Dollar will be guided by Fed Powell’s testimony and employment data.The USD/JPY pair marched toward …

Gold price trades near a two-month high as Fed rate-cut bets for June deepen. Weak US Manufacturing PMI data weighs heavily on the US Dollar. Fed Powell may provide fresh insights on the timing for rate cuts this week.Earlier on the day, gold price was hovering near a two-month high …

US stocks experienced a surge in intraday records, with the S&P 500 and Nasdaq reaching new highs. The Nasdaq set a new intraday record, surpassing its November 2021 peak of 16,212.23. Technology stocks, particularly Nvidia and AMD, saw significant gains, with shares climbing 3.73% and 4.82% respectively. The Philadelphia semiconductor …

Friday’s gold market surge is still going strong since all of the market’s moving parts appear to be pointing towards higher prices in the end. The price of the precious metal has increased by 2.08% to $2086.50 per ounce as of this writing.The early hours of Friday saw a slight …

The US Dollar Index traded in a downward trend at 103.7, before recovering, at the time of writing, to 103.895, denoting a decline of 0.24%, and representing a weak end to the trading week.The US ISM Manufacturing PMI fell disappointingly at 47.8, far from expectations of a 49.5 mark. Expectations …

The latest Monetary Policy Report from the US Fed highlights the US central bank’s stance on the current economic and inflation outlook, and what it will take for Fed policymakers to feel comfortable enough to begin cutting interest rates.Key highlightsInflation expectations are broadly consistent with 2% goal.Labour market remains tight, …