WTI crude oil price is down for the second successive day. At the time of writing, the American crude is trading between $90.35 and $90.45 per barrel.Earlier on the day, crude price probed below $90 per barrel. Observers and economists cite pressures by accelerating concerns about the global economy’s slowdown, …
Read More »US Private Payrolls Grew Below Expectation in August
Private sector companies added only 132,000 jobs in August. The latest ADP reading, released on Wednesday, indicates a slower pace of hiring after months of robust strong growth in the labour market. August’s reading is far below market expectations standing at 225,000 jobs. There is a shaded zone on the …
Read More »Market Drivers – US Session – Tuesday, August
The negative market sentiment slightly began to ease early on Tuesday, although investors are generally pessimistic.The US dollar gave up some gains during the first half of the US session, particularly against high-yielding rivals, but managed to rebound during the second half of the session. The American currency performed higher …
Read More »T-yields touch fresh highs amid inflation concerns
US Treasury yields surged on Tuesday, reversing rally after a better than expected rise in JOLTS data. The latest reading fueled investors’ concerns about the Fed’s hawkish stance and prospects of tightening the US monetary policy.Earlier on Tuesday, Some US government bond yields lightly retreated after inflation data from Europe …
Read More »Gold maintains downtrend ahead of US employment data
Gold price is wavering within the $1,723.03-1,727.20 zone as investors’ attention shifts to the awaited US Employment Change data.The positive US JOLTS Job Openings data granted the US Dollar Index further strength. The said data landed at 11.239M, higher than the expected 10.475M, surpassing prior reading of 11.04M. Gold price …
Read More »Could Softer Data Save Cryptos, Stocks From Red Territory?
Some key economic data are expected this week including the ISM manufacturing PMI Index, as well as nonfarm payrolls, respectively: an indicator of US economic activity and tracking measure of the total number of paid workers in the US.This week’s soft economic data could grant the crypto and stock markets …
Read More »US shares close lower post-JOLTS data
US shares have closed with losses for the third consecutive session, partially impacted by surging job openings. Each of the 11 S&P 500 sectors were in the red territory.Tuesday’s JOLTS data add more concerns around the hawkish stance adopted by the US central bank, just giving policymakers enough reasons to …
Read More »What could JOLTS report tell about Fed’s direction?
Job openings have topped 11.2 million in July. That total also was nearly double the total pool of available workers, which stood at 5.67 million for the month. Available positions totaled 11.24 million for the month, in excess of the 10.3 million estimates, according to the Job Openings and Labour …
Read More »GBP/USD pressured into fresh daily lows
From an hourly perspective, GBP/USD is decelerating into a 38.2% Fibonacci retracement level, so, the GBP/USD pair is down by some 0.45% on the day so far while risk assets see some recovery following the bumpy ride into Jackson Hole speeches.The sterling climbed to 1.1760 from 1.1621 on Tuesday in …
Read More »Why Does Consumer Confidence Data Recover?
Tuesday’s report by Conference Board has showed a recovery in consumer confidence in August according to preliminary data. Several analysts have pointed out the rebound in confidence to its highest level since May 2022 took pace as fuel prices fell throughout the month and stock prices rose during the first …
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