Gold is up +0.24% on the day, the precious metal is trading at $1987.31 at the time of writing. The price of gold is fluctuating horizontally during Monday’s US trading session due to the lack of a catalyst, but it is likely to be supported by the weakening US dollar …
Read More »Dollar a bit weaker ahead of the US GDP data
Although the dollar is still weak, losses are currently contained. This week’s significant US macroeconomic data releases could influence the value of the dollar. Technically speaking, the Dollar Index is still bearish in the foreseeable future.The stronger-than-expected S&P Global PMI surveys on Friday did not help the dollar, as the …
Read More »Strong Euro nears nine-year high versus Japanese yen
At the start of a week that includes a widely awaited Bank of Japan meeting and the final few data releases before the Federal Reserve and European Central Bank make rate decisions in early May, the euro edged up a bit and the Japanese yen weakened. The euro was trading …
Read More »European stocks are falling ahead of a busy week of corporate earnings
European stocks fell on Monday, tracking their Asian counterparts, as investors await more economic data this week and the results of some major US companies, as well as prominent banks and consumer companies in Europe. The European STOXX 600 index fell 0.2 percent by 0710 GMT, while oil and gas …
Read More »Gold prices fell with the predominance of caution before Fed meetings
Gold prices fell on Monday for the second consecutive session as investors’ focus turned to Federal Reserve meetings to clarify its strategies to raise interest rates, which could highlight any progress in taming inflation. The spot gold price fell 0.1 percent to $1,980.89 an ounce by 0613 GMT. US gold …
Read More »Financial Markets’ Weekly Recap, April 17-21
Wall Street moved in an erratic manner, ending the trading week with minor losses. The major indices retreated from their monthly highs. The mid-May rally has encountered resistance. The stock market appeared to be heading nowhere on Friday due to a lack of conviction, a week’s worth of company financial …
Read More »Positive US PMI data drags Euro lower
During Friday’s early US session, the Euro is declining significantly versus its largest equivalent, the US dollar. Better-than-expected US S&P Global PMI figures have allayed fears of a recession and are helping to underpin the currency. As the banking crisis appears to be behind us once more, the war against …
Read More »US PMI reading pushes USD/JPY to fresh daily peak
Amid a new round of USD purchasing, the USD/JPY quickly recovers from the weekly low. The positive US PMIs support future Fed rate hike predictions and strengthen the US dollar. Spot prices are still on course to post moderate rises for a second straight week.During the early North American session, …
Read More »US S&P Manufacturing PMI surges to 50.4 in April
S&P Global Composite PMI increased to 53.5 (flash) from 52.3 in March, indicating that the private sector of the US economy continued to grow at a brisk rate in April. This figure was higher than the 52.8 market forecast.In the same time, the S&P Global Manufacturing PMI increased to 50.4 …
Read More »EUR/USD advances on US recession fears
The Philadelphia Fed said that the last week saw an increase in first jobless claims in the US as manufacturing output fell. Although rates need to be higher, Cleveland’s Fed Loretta Mester is pleased with the progress on inflation.Following data from the United States that shows more economic deterioration, which …
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