The US Dollar experienced a pullback on Friday, primarily driven by profit-taking after a recent surge. Investors are keenly focused on upcoming speeches by Federal Reserve officials, which could provide clues about the central bank’s monetary policy trajectory.Housing Data Shows WeaknessMeanwhile, US housing data released earlier in the day revealed …

The Dow Jones Industrial Average (DJIA) continued its upward trajectory on Friday, reaching a new record high. This surge was primarily driven by strong Q3 earnings reports from various companies, which surpassed market expectations and bolstered investor confidence. Additionally, positive economic data, including upbeat Retail Sales and construction figures, eased …

The global oil market is facing a significant oversupply next year, according to recent forecasts from both OPEC and the International Energy Agency (IEA). Both organizations have revised their oil demand projections downwards, indicating a potential surplus in the market.Commerzbank commodity analyst Carsten Fritsch noted that OPEC now expects global …

U.S. Treasury yields have declined, pressured by a fresh batch of positive economic data and uncertainty surrounding the 2024 U.S. presidential election and the Federal Reserve’s future interest rate path. Treasury yields dropped to 4.074%, compared to the previous day’s close of 4.096%. Yields on these sovereign securities had reached …

Volvo has reported a significant decline in earnings for the third quarter of 2024, primarily driven by a slowdown in the demand for trucks and construction equipment. Reduced economic activity in the construction sector and a model changeover in Europe have contributed to this decline.While Volvo’s bus operations have shown …

The U.S. Dollar’s strength continued unabated, driven by robust domestic economic data and a marginally dovish stance from the European Central Bank. This positive sentiment for the U.S. Dollar was evident in its continued appreciation against major currencies.Key economic indicators and events to watch on Friday, October 18, included the …

Gold is currently rallying and enjoying a resurgence in price. This report traces the intricate factors driving this rally, examining both macroeconomic fundamentals and technical indicators. Gold prices surged to a new all-time high near $2,700 on Thursday, driven by a combination of factors, including heightened uncertainty surrounding the upcoming …

The US Dollar continued its winning streak, gaining for the fifth consecutive day, as markets digested recent economic data and adjusted their expectations for Federal Reserve interest rate cuts. The US Dollar Index (DXY) climbed to near 104.00, buoyed by a combination of factors. First, the European Central Bank’s (ECB) …

Oil prices edged higher on Thursday, balancing the impact of falling US crude inventories against escalating geopolitical tensions in the Middle East and underwhelming economic stimulus measures from China.West Texas Intermediate (WTI) and Brent crude both settled slightly higher, with WTI closing at $70.67 a barrel and Brent at $74.45 …

The ECB’s Rate Cut: A Balancing ActThe European Central Bank’s (ECB) decision to reduce interest rates by 25 basis points is a calculated move that reflects the delicate balance between combating inflation and supporting economic growth. While the Eurozone has seen a notable decline in inflation, the ECB remains cautious, …