The Australian dollar rose on Thursday after the country’s jobs data beat expectations, while the yuan rose after China moved to curb its currency’s decline by loosening a rule for cross-border financing. Thursday’s data showed that employment in Australia easily beat expectations for the second consecutive month in June, with …
Read More »Oil prices retreat on profit-taking despite tighter U.S. supplies
Oil prices edged lower on Wednesday, as investors took profits following earlier gains on tighter U.S. crude supplies and China’s pledge to reinvigorate its economic growth.Brent futures dipped 17 cents at $79.46 a barrel, while U.S. West Texas Intermediate (WTI) crude dropped 40 cents at $75.35 a barrel.Prices pared gains …
Read More »Evergrande’s $81 billion loss renews China’s real estate woes
Chinese real estate developer Evergrande has disclosed losses of $81 billion over 2021 and 2022, underscoring the significant debts that remain a concern for the financial health of the Chinese property sector and the world’s second-largest economy. Evergrande’s total liabilities continued to grow in 2022, reaching $335 billion compared to …
Read More »US dollar stays resilient as investors digest latest US data
After Monday’s unsuccessful attempt at a rebound, the US Dollar is holding steady against its main competitors’ currencies.The US Dollar Index is still varying just below 100. While industrial production decreased in June, US retail sales increased somewhat. During the first trading period of Tuesday’s American session, the dollar was …
Read More »Noor Capital | Interview with Muhammad Hashad on Dubai TV – July 17, 2023
Muhammad Hashad, Director of Research and Development at Noor Capital and member of the US Association of Technical Analysts, commented, in an interview on Dubai TV, on the latest Chinese economic data issued earlier this morning, Monday July 17, and how this data has affected markets and trading as well …
Read More »AUD/USD struggles to touch 0.6800 ahead of RBA Minutes, US Retail Sales
After a two-day losing streak, the Australian dollar (AUD/USD) is under pressure, which has dampened the corrective rally from late Monday. Chinese data-related worries, dovish fears about the Reserve Bank of Australia (RBA), and market inflation all contribute to the pair’s poor performance. The Fed’s policy SPECULATIONS and market-wide cautious …
Read More »Why could gold break into all-time high in 2024?
Gold is expected to move sideways around $1,950 until the end of 2023 and beyond, according to economists. By the end of the year, there may be some scope for an upward move to $2,000 due to the US central bank’s sharp rate hikes. This could indicate that the American …
Read More »China’s economy grew by 6.3% in the second quarter of 2023
China’s economy grew in the second quarter of 2023 by 6.3%, against expectations of 7.3%. On a quarterly basis, the Chinese economy grew by 0.8% in the second quarter, slowing down from 2.2% levels, but it came better than expectations that indicated a growth of 0.5%. A spokesman for the …
Read More »Financial Markets’ Weekly Recap, July 10-14
After an intense week across most financial markets, volatility is unlikely to ease soon. Market participants will continue to digest the latest round of US inflation data, particularly the CPI and PPI data, with a special focus on the upcoming FOMC meetings. The Fed enters its blackout period ahead of …
Read More »Noor Capital | Mohammed Hashad Interview on Dubai TV – 14 July 2023
Mohamed Hashad, Director of Research and Development at Noor Capital and member of the US Association of Technical Analysts, commented on global financial market developments, particularly expectations related to a US interest rate hike and whether the Federal Reserve has reached or about to reach the end of its monetary …
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