August is historically the dullest month of the year for financial markets, but all five trading days (August 8-12) witnessed important market news and economic data that had a significant impact on almost all assets. The influence of the week’s economic data could continue into the future. The CPI report …
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US data revealed, Friday morning, lifted the USD/CAD above its 100-DMA when the University of Michigan showed that the US Consumer Sentiment improved from 52.5 as estimated to 55.1, reaching a three-month high. That is very good news for the Federal Reserve policymakers; however, US inflation expectations for a 5-year …
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The dollar rose in early trade in London on Friday as hawkish comments from Federal Reserve officials weighed against the notion that US inflation data this week could prompt the US central bank to slow down policy tightening. US inflation data came in less than expected, which led to support …
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European power prices have surged to fresh records on Thursday as recurrent hot weather waves are contributing to limit energy supplies and wildfires rage across France. Wildfires have been raging in the country, leading President Emmanuel Macron to enlist help from across Europe to join 10,000 French firefighters to battle …
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The dollar recorded further losses against other major currencies on Thursday after traders reduced their bets that the Federal Reserve (the US central bank) would raise interest rates aggressively after US inflation data that came the previous day was weaker than expected. And the dollar index, which measures the performance …
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Gold prices fell on Thursday from their highest levels in more than a month, as comments from Federal Reserve officials pointed to further interest rate hikes despite signs of easing inflation in the world’s largest economy. Gold is highly affected by rising US interest rates, because they increase the opportunity …
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Gold price is advancing towards $1,800.00 after a healthy correction. The precious metal trades at 1,792 at the time of writing amid a risk-on market sentiment that has infused fresh blood into the gold bulls.Cooler than expected US CPI has trimmed extremely hawkish Fed bets. Gold price has picked bids …
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US stock indexes opened trading on Wednesday, August 10, with the release of inflation data for the month of July, which came less than expected. At the beginning of the session, the Dow Jones index jumped by 1.36% to 3321.8 points, the Nasdaq rose by 2.22% to 12,768 points, and …
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It was a challenging quarter for Coinbase from an operational perspective. The company said it had 9 million monthly transacting users during the second quarter, down from 9.2 million in the first quarter but more than the estimated 8.7 million. Macroeconomic and cryptocurrency credit resulted in lower trading volume during …
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The dollar fell during trading on Tuesday, August 8, as investors awaited US inflation data this week for signs that price pressures in the United States will ease after raising interest rates. The dollar index, which measures the value of the US currency against a basket of six competing currencies, …
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