On Wednesday, the U. S. economic scene will witness the latest release of the Consumer Price Index, CPI, for October. This data is awaited by investors and traders, as the Federal Reserve dovish tone spurred a selloff in the bond market, while US Treasury yields fall.CPI is unlikely to offer …
Read More »BOE & ECB Interest Rate Expectations Updates
Rate hike chances are gaining more appeal throughout financial markets for the BOE after the November meeting, given the actual inflation profile, in which there was a 95%+ chance of a 15-bps hike. The European Central Bank has made clear that it does not intend on raising rates anytime soon, but …
Read More »Gold Settles Near a Two-Month Top, Attention Turns to US Inflation Data
Gold prices hovered near two-month highs on Tuesday, supported by weaker dollar and US Treasury yields, as investors awaited US inflation data in an attempt to speculate on the Federal Reserve’s next move on interest rates. The price of gold did not witness little change in transactions, and it recorded …
Read More »A Slight Decline in Oil Prices After Two Consecutive Days of Gains
Oil prices fell, in trading today, Tuesday, after two consecutive sessions of gains supported by the American infrastructure bill, Chinese exports, the global recovery after the pandemic, and the raising of expectations for fuel demand. Brent crude was down 10 cents at $83.33 a barrel, after rising 0.8% on Monday, …
Read More »Market Drivers – U. S. Session – 08-11-2021
Weaker USD profile prevailed all through the U. S. trading session on Monday. The GBP/USD pair has jumped to 1.3530-35 by weaker USD and EUR/USD was another pair that similarly benefited from the same reason, while Treasury yields continued surging and Gold touched fresh highs. Inflation is still impacting monetary …
Read More »U. S. Shares Jump Over Improved sentiment
The S&P 500 has edged higher in the New York session, up by 0.08%, to settle at 4,701.The Dow Jones Industrial has added 0.23%, up to 36,412, while the Nasdaq has fallen by 0.01%, at 16,358. Positive U. S. jobs data last Friday, in addition to tapering by the U. …
Read More »WTI Unevenly Traded Around $82.00
`Crude oil prices have been uneven during recent trading but continue to trade with a positive bias on the day.Front-month futures contracts for the U. S. WTI, currently trades close to $82.00/barrel, having swung between the $81.30-$82.60 at various points throughout the U. S. session. WTI currently trades with on-the-day …
Read More »BoE’s Signals Combating Inflation with Rates Action
The Bank of England’s governor, Andrew Bailey, has stated in recent trade that the U. K. will have to act with rates if there is evidence of higher inflation expectations impacting workers’ wages.Key comments by BoE’s Bailey:Much of rise in inflation has to do with reopening after lockdowns.What we are …
Read More »BoE Won’t Politicize Dealings with Foreign Clearing Houses
The Bank of England will not politicize how it supervises foreign clearing houses with confronting responses to whatever the European Union decides, a senior BoE official said on Monday.Christina Segal-Knowles, the BoE’s executive director for financial market infrastructure, pointed out in a public consultation paper how the central bank will …
Read More »Gold hits fresh highs, yields retreat
Gold continues to trade with an uptrend bias on Monday after breaking above key resistance last Friday in the $1814 per ounce. Prices surpassed $1820 earlier in the U. S. session, the highest level in over two months. Gold bulls will now be eyeing a move back to test resistance …
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