Gold prices remained relatively unchanged on Friday, showing resilience despite the release of Retail Sales data in the United States. The precious metal, which had dipped to a two-month low the previous day, found support near its 100-day Simple Moving Average (SMA).While US Retail Sales data indicated continued consumer spending, …
Read More »ECB Divided on Inflation Risks as Eurozone Economy Slows
The European Central Bank found itself at a crossroads during its October meeting, with policymakers divided over the evolving inflation landscape in the Eurozone. As the region grapples with sluggish economic growth, the central bank has been forced to navigate a delicate balancing act between stimulating growth and maintaining price …
Read More »Market Drivers; US Session
Greenback Dominance Continues The US Dollar extended its rally on Thursday, hitting fresh 2024 highs. Despite a slight easing in US Treasury yields, the greenback remained resilient. This comes ahead of a busy economic calendar on Friday, with key US data releases expected to further influence market sentiment.Key Currency Pairs …
Read More »Will Trump and Powell be on a collision course?
President Donald Trump could be considering his own favourite pick for the position of Federal Reserve Chairman other than Jerome Powell upon taking office next January to emphasize the constitutional responsibility of all executive branch officials to the president. The dispute arises from the Federal Reserve’s power over national monetary …
Read More »How Have US Stocks Reacted After Trump’s Win?
Certain stocks have been disappointed by Trump’s election-related gains; Tesla has lost 4.5% of its value since Election Day. Elon Musk’s business has grown to be a close buddy of Trump. Republicans may not instantly carry out their campaign pledges, even if they control the White House, Senate, and House …
Read More »EUR/GBP Remains Range-Bound Amid Mixed Signals
The EUR/GBP pair has been consolidating in a narrow trading range for the past week, unable to break out of its recent price channel. While there have been brief periods of upward movement, overall momentum remains sluggish. The pair is currently trading below its 20-day Simple Moving Average (SMA), suggesting …
Read More »Gold Declines Amid Political Upheaval
A Perfect Storm for Gold Gold prices have taken a significant hit, plummeting nearly 7% in November, as a confluence of factors has eroded its appeal as a safe-haven asset. The recent US political landscape, coupled with economic and market dynamics, has created a perfect storm for the precious metal. …
Read More »Crude oil prices poised to close with weekly gains
Crude oil prices continue to face significant downward pressure as a confluence of bearish factors converge. The recent release of the International Energy Agency’s (IEA) monthly report has further dampened the outlook for 2025 oil demand, adding to the prevailing bearish sentiment.The IEA’s downward revision of its 2025 oil demand …
Read More »Stocks Edge Higher as Mild Inflation Data Fuels Rate Cut Speculations
Wall Street Rallies on Tepid InflationThe Dow Jones Industrial Average and S&P 500 climbed on Wednesday, buoyed by October’s consumer price index (CPI) report. The data, which showed inflation remaining relatively tame, reinforced expectations that the Federal Reserve will continue its path of interest rate cuts.A Closer Look at the …
Read More »Euro Slumps to Year-Long Low as Dollar Dominates
The Euro has continued its downward trajectory, plunging below the 1.0600 level against the US Dollar on Wednesday. This marks a significant decline and a new year-long low for the Euro, highlighting the growing disparity between the two major currencies. A brief respite from the Euro’s weakness was observed following …
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