Gold rises to the highest level in four days, eyes $1850 and silver erases losses, approaching Wednesday’s high near $21.90.US yields slide as demand for Treasuries picks up amid risk aversion. Gold gained momentum boosted by a context of risk aversion and a weaker US dollar. XAU/USD rose from under …
Read More »USD rising to new highs
After the US unemployment data today recorded negative results compared to what analysts expected, recording a decrease of 3000 last week, the market risk appetite was affected. Risk appetite increased on the US dollar during today’s trading after the Federal Reserve’s interest statement yesterday, which announced the US Central Bank …
Read More »Oil falls after US interest rate hike
Oil prices pared earlier gains and fell on Thursday, after a day of sharp declines caused by US interest rate hikes, but the attention was still focused on the supply shortage. Brent crude futures fell 45 cents, or 0.4 percent, to $118.06 a barrel, while West Texas Intermediate crude futures …
Read More »BoE hikes interest rates by 25 bps to 1.25%
The Bank of England (BoE) announced its monetary policy decision this Thursday and hiked rates for the fifth consecutive time to curb soaring inflation. The nine-member Monetary Policy Committee (MPC) voted 6-3 for the 25 bps hike in the bank rate to 1.25%, with the minority – Catherine Mann, Jonathan …
Read More »European shares slip as recovery fades after US rate hike
European shares fell on Thursday after the US Federal Reserve’s decision to raise interest rates bolstered fears of a possible recession at a time when global economies are facing soaring inflation. The pan-European Stoxx 600 index was down 0.4 percent by 0710 GMT, although European stock futures recovered overnight after …
Read More »Nikkei halts a 4-session decline
The Japanese Nikkei index halted a four-session losing streak on Thursday, boosted by a rally in US stocks last night after the Federal Reserve raised interest rates by 75 basis points, as expected. But the bleak outlook for the global economy amid continued risks related to the sharp tightening of …
Read More »Reuters: Russian oil production rose month-on-month in May
An OPEC+ document seen by Reuters and citing secondary sources showed on Thursday that Russia’s crude oil production rose to 9.273 million barrels per day in May from 9.159 million in April. Total production by members of the Organization of the Petroleum Exporting Countries (OPEC) and their allies including Russia, …
Read More »Market Drivers – US Session – Wednesday, June 15
Central banks are inside the storm amid global tenacious high inflation. The US Fed was the star of Wednesday’s interest rate show. Fed decided to hike rates by 75 bps, the largest since 1994, but dismissed the chances of a 100 bps hike. Fed Chair Powell said it was the …
Read More »SNB Rate Decision Preview In Light Of Current Inflation Outlook
It is typically a central bank-heavy week, with the US Fed having hiked interest rate by 75 points to bring inflation under control. For the Swiss National Bank, inflation is also its biggest problem. The inflation rate is running at its hottest levels since 2008. Ongoing geopolitical uncertainty and higher …
Read More »US equities jump on Powell’s comments
Stocks were volatile after the rate hike decision but jumped to session highs as Fed Chairman Jerome Powell said additional increases are on the horizon.Boeing and other shares closely linked to economic growth jumped higher on the hope that rates could rise without tipping the economy into a recession. Boeing …
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