Market Update

Gold prices fell on Friday and appeared to be poised for a third consecutive weekly loss as the dollar and Treasury yields rose after the Federal Reserve’s strong stance, while investors awaited US jobs data due on Friday. Spot gold fell 0.2 percent to $1,873.75 an ounce by 0742 GMT, …

The Japanese Nikkei index changed course and closed higher on Friday, as investors snapped shares in hopes of companies posting solid profits, despite selling in the broader Asian markets amid concerns about China strengthening its tough policy in the face of the Coronavirus. The Nikkei closed up 0.69 percent at …

European shares fell on Friday, heading for their worst week in two months, after a sharp fall in Wall Street as investors feared a bigger interest rate hike would be needed to curb high inflation. The pan-European STOXX 600 index was down 0.6 percent by 0709 GMT, with the travel, …

The US will release its April employment figures on Friday, May 6. The NFP report is expected to show that the economy added 391K new jobs, below the previous 431K but still a good figure. The unemployment rate is expected to have contracted to 3.5% from 3.6% in the previous …

Cryptocurrency prices slid Thursday afternoon along with major stock market indexes. Cryptocurrencies have traded more in line with other risk assets, like growth and tech stocks.Bitcoin fell to $36,431.57, down 8.4% from Wednesday, according to Dow Jones Market Data. Ethereum fell 6.4% to $2,754.37. The most famous crypto asset tumbled …

Russian natural-gas supplies have increasingly become a tool of pressure in the conflict between Moscow and Europe over Ukraine while Europe still relies on Russia for 40 percent of the gas that warms and lights its homes and businesses.The confrontation Russo-European conflict has also ignited a stubborn challenge for the …

US worker productivity fell at its steepest pace since 1947 in the first quarter, while growth in unit labour costs accelerated, indicating that rising wage pressures will continue contributing to keeping inflation elevated for a while. Nonfarm productivity, which measures hourly output per worker, plunged at a 7.5% annualized rate …

At $1,875, the gold price has been pressured and is trading not far from the lows of the day down at $1,872.54, losing some 0.34%. Gold fell from a high of $1,909.82 as the US dollar rebounded on Thursday, moving in on the 20-year highs reached last week, as per …

A few hours after the NFP release on Friday, gold investors could look to book profits toward the London fix, causing important assets, such as gold, to reverse direction after the initial reaction. Moreover, FOMC policymakers have clarified that they will focus on taming hot inflation, so they seem not …

The British sterling retreated on Thursday after the Bank of England hiked 25-bps interest rates in a 6-3 split decision. However, the UK central bank’s projections of a probable UK recession in 2023 shifted sentiment negatively, spurring a 280-pip drop from near weekly highs from 1.2630s to below 1.2350. At …