President of the Federal Reserve (Fed) in Minneapolis, Neel Kashkari, made headlines on Tuesday for the second time in a row as he discussed the Fed’s outlook for inflation and interest rates for the remainder of the year.Kashkari would need to see multiple readings on inflation to be confident enough …
Read More »Gold price declines on stronger Dollar
The Gold Index, XAU/USD, was trading down by roughly -0.33% earlier on Tuesday, in the $2,310s, but at the time of writing, it is only -0.20% down, trading at $2,319.56, as the US Dollar recovers, reducing the cost of Gold which is priced in USD. Gold price declines on Tuesday …
Read More »European shares at a one-month high, supported by strong earnings results
European stocks surged on Tuesday, reaching their highest level in over a month, buoyed by robust earnings reports from companies like Swiss UBS and Italian UniCredit, alongside optimistic sentiment surrounding potential interest rate cuts. At 0710 GMT, the European STOXX 600 index climbed 0.6 percent, building on its highest weekly …
Read More »Japan’s Nikkei closed at a 3-week high
On Tuesday, Japan’s Nikkei index surged over 1 percent, reflecting improved investor sentiment driven by heightened bets on potential US interest rate cuts and sustained gains in the technology sector. Closing at 38,835.10 points, the Nikkei index climbed 1.57 percent, marking its highest closing level since April 15. The broader …
Read More »Japanese yen declines despite continued fears of state intervention
On Tuesday, the yen continued its decline against the dollar, influenced by interest rate differentials despite warnings from Japanese officials following suspected interventions triggered by substantial dollar selling last week. The Australian dollar dipped 0.36 percent to $0.6601 USD from its recent peak of $0.6650 USD reached last Friday, matching …
Read More »Oil rises after Israeli strikes on Rafah and the continuation of truce talks
Oil prices climbed on Tuesday following reports of Israeli airstrikes on the Gaza city of Rafah, with ceasefire negotiations ongoing but no agreement reached yet with Hamas. By 0400 GMT, Brent crude futures rose by 23 cents, or 0.28 percent, reaching $83.56 per barrel. Similarly, US West Texas Intermediate crude …
Read More »Gold rises with US rate cut bets and the Middle East conflict
Gold Prices Rise on Rate Cut Bets and Safe-Haven Demand Amid Gaza Uncertainty Gold prices climbed on Tuesday, supported by expectations of potential interest rate cuts by the Federal Reserve later this year and increased demand for the precious metal as a safe haven amid uncertainty surrounding the ceasefire in …
Read More »Market Drivers, US Session, May 6
As traders examined Fed interest rate cut bets, gold prices rose above $2,300 per troy ounce. After a recent dip, the US dollar was able to rise as investors examined the US labour market report. After three weeks of declines, the USD Index recovered and crossed over the 105.00 mark. …
Read More »What is behind Gold’s Ascending Uptrend: Key Factors, Market Insights
Gold prices have recently surged to historical levels, mainly capitalizing on several factors that have come to the forefront, including its prestigious status as a trusted safe haven. In this article, we’ll delve into these elements and explore their impact on the precious metal’s bullish trajectory.The Federal Reserve’s decisions, including …
Read More »Oil rises amid escalating Middle East tensions
Oil prices closed trading on Monday in an upward direction, supported by the escalating tensions in the Middle East after the launch of Israeli military operations in southern Gaza, which threatens a humanitarian catastrophe that the United Nations and other human rights organizations have warned of.Oil futures rose to $78.62 …
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